| What to watch today: Dow set to fall as U.S. coronavirus cases surge | | |  | WED, JUN 24, 2020 | | | | AS OF WED, JUN 24, 2020 • 08:03 ET | | Dow Jones Fut | | 26,156.10 | | Current: | 25,794.00 | | Change: | -226.00 | | Impl. Open: | -230.10 | | | S&P 500 Fut | | 3,131.29 | | Current: | 3,096.25 | | Change: | -22.25 | | Impl. Open: | -23.04 | | | NASDAQ 100 Fut | | 10,209.82 | | Current: | 10,159.25 | | Change: | -36.75 | | Impl. Open: | -36.57 | | | Russell 2000 Mini | | 1,439.34 | | Current: | 1,419.70 | | Change: | -14.50 | | Impl. Open: | -8.44 | | | Shares of Apple were under some pressure in Wednesday's premarket trading, one day after surging 2% to another record high close. Perhaps contributing to the pause in Apple's rally since Monday's developer conference announcements, data showed that iPhone sales in China fell 7.7% to 3.6 million units month-over-month in May after April's 160% surge. (CNBC) | | | | Dell Technologies (DELL) is exploring options for its $50 billion stake in cloud computing company VMWare (VMW), according to The Wall Street Journal. Those options could include both selling the stake, or buying the portion of VMWare that it doesn't already own. Dell shares were soaring 14% in the premarket. | | | | Total mortgage application volume fell 8.7% last week from the previous week. Homebuyer demand for mortgages fell 3% for the week but was 18% higher than a year ago. Applications to refinance a home loan fell 12% for the week but were 76% higher than the same week in 2019. (CNBC) | White House health advisor Dr. Anthony Fauci is warning that parts of the U.S. are beginning to see a "disturbing surge" in coronavirus infections. States with growing outbreaks might need to consider pausing or rolling back stages of their reopening plans, Fauci said at a House panel hearing Tuesday. (CNBC)
* Fauci warns of 'more and more' coronavirus complications in young people (CNBC)
The seven-day average of new coronavirus cases in the U.S. soared 30% from a week ago, according to a CNBC analysis of Johns Hopkins University data. Cases are growing in at least 26 states, including Texas, California and Florida. Meanwhile, the District of Columbia and 16 states, including New York, New Jersey and Connecticut, reported declines in new infections. (CNBC) | | | | The European Union is discussing how to reopen its external borders as the region looks to slowly reopen economies. However, visitors from countries like the United States may still be barred from entering. European countries decided to close their external borders in March to contain the spread of Covid-19. (CNBC) | | | | President Donald Trump on Wednesday will host Poland's President Andrzej Duda, the first visit by a foreign leader since the start of the coronavirus pandemic. Duda's visit, which was unexpectedly announced last week, comes four days ahead of Poland's presidential election on Sunday. (CNBC) | | | | Senate Democrats are expected to block a Republican police reform bill on Wednesday, leaving the parties to decide whether to take on the hard job of negotiating a compromise or walk away despite public outcry over the killings of Black Americans by White police officers. (USA Today) | | | | The Louisville Metro police department has fired one of the police officers involved in the fatal shooting of Breonna Taylor, more than three months after the 26-year-old Black woman was killed in her home. The termination letter sent to Officer Brett Hankison, who is White, said he violated the rule against using deadly force. (AP) | | | | Simon Property (SPG), the mall operator, is teaming up with shopping center operator Brookfield Property Partners (BPY) to explore a bid for bankrupt retailer J.C. Penney, according to the Wall Street Journal. Penney is Simon's second-largest mall anchor tenant behind Macy's (M).' | | | | T-Mobile US (TMUS) said the sale of shares in a public offering priced at $103 each. The offering was part of Softbank Group's sale of shares in the wireless carrier. T-Mobile had closed Tuesday at $107.16 per share. | | | | Carnival's (CCL) debt rating was cut to junk status by Standard & Poor's, which is forecasting continued weak demand for the cruise industry due to the Covid-19 pandemic. | | | | Winnebago (WGO), the recreational vehicle maker, lost 26 cents per share for its latest quarter, smaller than the 45 cent loss that analysts were predicting. Revenue was well above estimates, despite the negative impact of shutdowns related to the coronavirus pandemic. | | | | La-Z-Boy (LZB) reported adjusted quarterly profit of 49 cents per share, well above the 20 cent estimate, though the furniture retailer's revenue was short of forecasts. The company also said it was increasing production as pandemic-related restrictions ease and stores reopen. | | | | Alphabet's (GOGGL) Google unit is the target of criticism by newspaper publishers, according to the New York Post. The paper said the publishers have told the Justice Department that Google's market power forces them into unfair agreements. | | | | Several potential suitors are considering bids for Unilever's (UL) tea business, according to a Bloomberg report. KKR (KKR), Blackstone (BX), and Bain Capital are said to be among the possible bidders for the tea brands, which include Lipton and Pure Leaf. | | The Major League Baseball Players Association announced that players were returning to training in anticipation of a coronavirus-abbreviated 60-game season. "All remaining issues have been resolved," the players' union said last night on Twitter. MLB Commissioner Rob Manfred expects a July 23 or July 24 start to the truncated season. (NBC News) | |  | | |
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