CNBC
U.S. stock futures were pointing to gains at the Wall Street open, but those potential advances would only make up a fraction of Monday's steep losses related to the escalation of the U.S.-China trade war. (CNBC)
* Cramer: Get ready to pull the trigger on these stocks 'We're almost in oversold territory' (CNBC)
President Donald Trump said that Washington would know in "three or four weeks" whether talks with Beijing will prove successful in resolving their trade disputes. On Monday, China hiked tariffs in response to last week's move by the U.S. (CNBC)
* China's 'self-destructive nuclear option' in trade war: Selling US Treasury bonds (CNBC)
On today's U.S. economic calendar, the government issues its April report on import and export prices at 8:30 a.m. ET. Meanwhile, Ralph Lauren (RL) are among the handful of companies releasing earnings this morning. Pot stock Tilray (TLRY) is out with quarterly results after the bell. (CNBC)
* Oil prices jump as Saudi energy minister reports drone 'terrorism' against pipeline infrastructure (CNBC)
* Bitcoin passes $8,000 as value more than doubles in 2019 (CNBC)
Morgan Stanley upgraded shares of Coca-Cola (KO), saying the stock trades at a very attractive valuation based on its history and relative to likely better-than-expected earnings in coming years. (CNBC)
IN THE NEWS TODAY
Attorney General William Barr has appointed a U.S. attorney to examine the origins of the Russia investigation and determine if intelligence collection involving the Trump campaign was "lawful and appropriate." (AP)
Facebook (FB) could be subject to 20 years of government oversight as part of a potential deal with the U.S. government over privacy lapses. Such an agreement would resolve an investigation into whether the company violated a similar 2011 pact. (Reuters)
* Facebook-owned WhatsApp confirms it's been targeted by spyware (FT)
Firing back at Amazon (AMZN), Walmart (WMT) plans to spend $800 million to expand its next-day delivery, starting with starting today in Phoenix and Las Vegas, and then in Southern California over the next few days. (CNBC)
The Supreme Court has ruled in a 5-4 decision against Apple (AAPL), saying iPhone users can pursue their antitrust lawsuit involving the tech giant's signature electronic marketplace, the App Store. (CNBC)
Germany's Bayer was ordered by a Northern California jury to pay more than $2 billion to a couple who say they were diagnosed with cancer after using the company's glyphosate-based weedkiller Roundup. (CNBC)
STOCKS TO WATCH
Take-Two Interactive (TTWO) reported adjusted quarterly profit of 78 cents per share, 3 cents above estimates. However, revenue was below forecasts, and the company gave a weaker than expected outlook.
Tencent Music (TME) reported a better than expected quarterly profit, although revenue slightly missed. The China-based music streaming service said its bottom line was helped by charging for a greater percentage of its content.
CVS Health (CVS) will be involved in up to three days of hearings next month regarding its $69 billion merger with insurer Aetna. The deal has already closed, but still needs final court approval.
T-Mobile (TMUS) and Sprint (S) are considering concessions to win approval for their planned $26.5 billion merger deal, according to a Bloomberg report, including a separation and sale of their pre-paid businesses.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
