CNBC
U.S. stocks futures were higher this morning, giving the Dow an opportunity to extend its streaks of nine straight up days and eight consecutive record closes. Earnings season continues today, with a number of major companies set to report. (CNBC)
There are no economic reports of note today, though there are two Fed speakers on the schedule. St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari will both be speaking while the markets are open – Kashkari is a voting member of the FOMC for 2017, while Bullard is not. (CNBC)
IN THE NEWS TODAY
Secretary of State Rex Tillerson said tough sanctions imposed against North Korea over its intercontinental ballistic missile tests would be carefully watched and the resolution sends a strong message that North Korea needs to understand what the world expects of it. (CNBC)
*UN slaps North Korea with new sanctions in effort to punish country's export sector (Reuters)
*North Korea denounces UN sanctions, says will take 'righteous action' (Reuters)
The Trump administration has yet to decide how to respond to Russia's move to expel hundreds of American diplomats. But Secretary of State Rex Tillerson said the U.S. plans to deliver a response to Moscow by Sept. 1. (AP)
Vice President Mike Pence on Sunday denied a New York Times report that he is preparing for a presidential election run in 2020 amid an investigation into Russia's alleged interference in the 2016 U.S. election. He called any suggestion "disgraceful and offensive." (Reuters)
President Nicolas Maduro vows that a band of anti-government fighters who attacked a Venezuelan army base will get the "maximum penalty." Troops killed two of the 20 intruders who slipped into the base early Sunday, apparently intent on fomenting a military uprising, Maduro said on his weekly radio address. (AP)
The city of Chicago will file a lawsuit today, alleging it is illegal for the federal government to withhold public safety grants from so-called "sanctuary cities." Mayor Rahm Emanuel says Chicago won't "be blackmailed into changing our values, and we are and will remain a welcoming city." (AP)
Taiwan's Foxconn, one of Apple's primary iPhone makers, will open a multibillion-dollar research and development plant in Michigan, the South China Morning Post reported on Sunday. The Michigan facility will be focused on autonomous vehicles, the SCMP said, citing Foxconn founder Terry Gou. (CNBC)
Samsung Electronics Vice Chairman Jay Lee, on trial for charges ranging from embezzlement to perjury, fought back tears and denied wrongdoing today as prosecutors sought a 12-year jail term. The charges included bribing the former president to help cement control of the South Korean tech giant. (Reuters)
STOCKS TO WATCH
Rockwell Collins (COL) is among our stocks to watch this morning, following a Reuters report late Friday that United Technologies (UTX) was weighing a bid for the aircraft component maker. United Technologies told CNBC that it did not comment on rumors or speculation.
Apple (AAPL) will release a version of the Apple watch later this year that can directly make calls on cellular networks, according to a Bloomberg report. Current versions of the watch need to be connected to an iPhone to have cellular capability.
Berkshire Hathaway (BRKB) reported a 15 percent decline in second quarter profit, falling below analyst forecasts. The decline was led by smaller investment gains and insurance underwriting losses.
Tesla (TSLA) lowered the price of its Model X SUV by $3,000 to $79,500, noting improved profit margins on that vehicle.
General Motors (GM) is recalling nearly 800,000 pickup trucks to deal with an issue that could affect power steering. The affected models are 2014 Chevrolet Silverado 1500 and GMC Sierra 1500 trucks.
Sprint (S) has resumed discussions T-Mobile US (TMUS) about a possible merger, according to a Bloomberg report. Masayoshi Son – the billionaire who leads major Sprint shareholder Softbank – is said to be seeking consolidation to reverse customer losses.
CONTRIBUTORS
Matthew J.Belvedere
Peter Schacknow
Tom DiChristopher
