| What to watch today: Dow to rally, 'Trump recession' warning, and the most valuable brand | | |  | TUE, JUN 11, 2019 | | | | AS OF TUE, JUN 11, 2019 • 07:20 ET | | Dow Jones Fut | | 26,062.68 | | Current: | 26,199.00 | | Change: | 113.00 | | Impl. Open: | 127.32 | | | S&P 500 Fut | | 2,886.73 | | Current: | 2,901.50 | | Change: | 12.25 | | Impl. Open: | 14.22 | | | NASDAQ 100 Fut | | 7,501.93 | | Current: | 7,559.50 | | Change: | 44.00 | | Impl. Open: | 54.57 | | | Russell 2000 Mini | | 1,523.56 | | Current: | 1,531.50 | | Change: | 8.90 | | Impl. Open: | 6.99 | | | U.S. stock futures were pointing to a continuation of Wall Street's June rally, with both the Dow and S&P 500 so far erasing nearly three quarters of May's more than 6% declines. The Dow, up for six straight sessions as of Monday, logged its longest win streak in more than a year. The S&P 500, up for five sessions in a row, was within about 2% of its all-time highs. The Dow was roughly 3% away from its record highs. (CNBC) | | | | On today's economic calendar, the government issues the May producer price index at 8:30 a.m. ET. Meanwhile, apparel retailer Chico's FAS (CHS) and tax preparation firm H&R Block (HRB) are out with earnings this morning. Restaurant chain Dave & Buster's (PLAY) releases its quarterly results after today's closing bell. (CNBC) | | House Judiciary Committee Chairman Jerry Nadler said he would hold off on contempt proceedings for Attorney General William Barr and former White House counsel Don McGahn because the Justice Department had begun sharing special counsel Robert Mueller's "most important files" with lawmakers (CNBC) | | | | After months of Democratic presidential hopefuls flooding Iowa, President Donald Trump is making his first pilgrimage today to the perennial battleground state this year. Unlike the Democrats focused on the February caucuses, Trump is looking ahead to the 2020 general election. (WSJ) | | | | Taiwan's Foxconn Technology, which assembles Apple's (AAPL) iPhones in China, said today it's prepared to deal with the risks stemming from the ongoing trade war between the U.S. and China. While Apple and China's Huawei have made some changes to their orders, a Foxconn official said the company faces limited impact. (WSJ) | | | | British lawmakers grilled a Huawei executive on the company's security practices in a hearing as the U.K debates what role the Chinese tech giant will play in building out 5G networks across the country. Huawei's global cyber security and privacy officer defended the company's security practices. (CNBC) | | | | The U.S. Energy Department is banning its researchers from joining Chinese talent-recruitment programs after it found researchers are being recruited by military-affiliated groups and expensive packages, the Wall Street Journal reported. | | | | Broadcom (AVGO) announced a two-year supply deal with Apple (AAPL), agreeing to provide radio-frequency, front-end components, and modules smartphones, tablets, and smart watches. That's according to a securities filing. (CNBC) | | | | Shutterfly (SFLY) agreed to be bought by private equity firm Apollo Global (APO) for $51 per share, or about $1.7 billion. Apollo is also buying another online photo service, Snapfish, for about $300 million and plans to combine the two. (CNBC) | | | | A new bidder has emerged for bookstore chain Barnes & Noble (BKS), according to the Wall Street Journal. Book distributor Readerlink is said to be working toward a bid that would top Elliot Management's deal to acquire Barnes & Noble for $6.50 per share or $475 million in cash. | | | | Ascena Retail (ASNA) reported an adjusted quarterly loss of 26 cents per share, smaller than the 37 cent loss expected by Wall Street analysts. However, the parent of the Ann Taylor and Lane Bryant clothing brands saw revenue come in below estimates and reported flat same-store sales. | | | | Casey's General Stores (CASY) reported quarterly profit of 68 cents per share, well above the consensus estimate of 46 cents, while the convenience store operator's revenue also topped forecasts. | | | | Zynga (ZNGA) proposed a $600 million private debt offering, with that debt convertible into cash, stock, or a combination of the two. The mobile gaming company said the proceeds would be used for general corporate purposes. | | | | Dollar Tree (DLTR) was upgraded to "overweight" from "neutral" at J.P. Morgan Securities, based on good metrics and improvements being implemented at the discount retailer's Family Dollar chain. | | | | Wells Fargo (WFC) was downgraded to "underweight" from "neutral" at Atlantic Equities, based on a decreased outlook for interest rates and increased competition for deposits. | | The U.S. begins its quest for another Women's World Cup title this afternoon against Thailand. The U.S. women, who won three of the eight World Cups, enter this year's ranked first. Thailand is ranked 34th. (USA Today) | | The Golden State Warriors welcomed back Kevin Durant after a month long absence from injury, only to watch as he re-injured himself in last night's NBA finals Game 5. However, the Warriors won and avoided elimination. (NY Times) | |  | | |
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