Morning Brief

The Dow is set to pop at the open ahead of Fourth of July holiday

BY THE NUMBERS

Futures were higher this morning after the major averages wiped out deficits Monday that had been in place for most of the day to finish higher. The Dow, S&P 500 and Nasdaq now all have three-day win streaks and have risen in four of the past five trading sessions. (CNBC)

Facebook (FB) stock was 1 percent lower after news it was  of its sharing of data with Cambridge Analytica. In addition, the SEC has started an investigation into the social network’s public statements about Cambridge Analytica. (NY Times)

U.S. automakers will release their June sales figures throughout the morning. Additionally, the government is out with May factory orders at 10 a.m. ET, with consensus forecasts calling for an unchanged figure following an April drop of 0.8 percent. (CNBC)

Lighting and building management company Acuity Brands (AYI) is the only company of note issuing quarterly earnings this morning, while no earnings reports are scheduled after today’s closing bell. (CNBC)

IN THE NEWS TODAY

In a sharply worded letter, President Donald Trump warned several allies, including Germany and Canada, that the United States is losing patience with what he said was their failure to meet security obligations shared by NATO. (NY Times)

The White House said Secretary of State Mike Pompeo will travel to North Korea Thursday to meet with North Korean leader Kim Jong Un. The two men will meet "to continue the ongoing and important work of denuclearization on the Korean peninsula." (CNBC)

A federal judge ruled that the Trump administration violated its own policies by refusing to release most asylum seekers from immigration detention. The judge ordered the administration to stop making blanket determinations against most asylum seekers. (USA Today)

The Washington Post reported embattled EPA chief Scott Pruitt tasked a former aide to help secure a job for his wife with a salary of $200,000 or more a year. Aides also described instances in which Pruitt pressed to travel first class or via private jet.

The German coalition government has been salvaged after Chancellor Angela Merkel reached a compromise with interior minister and the leader of the Christian Social Union (CSU) Horst Seehofer, ending a bitter standoff over immigration. (CNBC)

Manhattan real estate had its worst second quarter since the financial crisis, with total sales falling 17 percent in the second quarter compared to a year ago, according a report from Douglas Elliman and Miller Samuel Real Estate Appraisers and Consultants. (CNBC)

Amazon.com (AMZN) announced that its annual Prime Day would begin on July 16 and run for 36 hours. That makes this year's event the longest one in the company's history thus far. Prime Day this year will also include deep discounts at Whole Foods. (CNBC)

EBay (EBAY) said it would offer “thousands of exclusive deals” on July 17, in a press release that appears directly aimed at Amazon, though it does not mention Amazon by name. The release suggests that customers don’t need to spend money on membership fees to buy the items they want.

Samsung smartphones are sending users' pictures to their contacts without their permission, according to complaints by a number of people posted online. The issue appears to be affecting Galaxy S9 and Galaxy Note 8 users. (CNBC)

STOCKS TO WATCH

American Airlines Group (AAL), Delta Air Lines (DAL) and United Continental (UAL) were all downgraded to “hold” from “buy” at Deutsche Bank. The firm said airlines typically underperform the market during periods of heightened macroeconomic and geopolitical risks, pointing to the current trade tensions.

PepsiCo (PEP) was downgraded to “hold” from “buy” at Deutsche Bank, in a valuation call with the stock rising nearly 12 percent over the past two months and outperforming rival Coca-Cola (KO). Coca-Cola shares are up 4.7 percent over that same period.

Roku (ROKU) was upgraded to “outperform” from “perform” at Oppenheimer, which said the provider of streaming video devices is seeing a rapid increase in time spent on its Roku Channel just nine months after its launch.

Herman Miller (MLHR) reported adjusted quarterly profit of 66 cents per share, 8 cents above estimates, with the office furniture maker’s revenue also above forecasts. Additionally, Herman Miller announced a 10 percent dividend increase to 19.75 cents per share.

CBOE Global Markets (CBOE) will open a new venue in Amsterdam for access to European clients after Britain leaves the European Union.

Unilever (UN, UL) has completed the $8.1 billion sale of its spreads business to private equity firm KKR (KKR). The sale of the business, which includes such brands as Country Crock, was first announced in December.

WATERCOOLER

Summer is here, and that means it’s time for barbecues and beach days, but also savings on some key services and retail products. Here are a few of the best deals you can find this month, according to shopping expert Trae Bodge of Slickdeals. (CNBC)