Rally seen at Wall Street open, but can it last?


U.S. stock futures were higher this morning. The S&P 500 and Nasdaq were aiming for a third straight up session. The Dow on Monday snapped a two-day winning streak, while trading volume surged to its second strongest of 2016. (CNBC)

Oil prices were mixed this morning, amid wildfire supply disruptions in Canada's oil sands town of Fort McMurray. Officials said almost 90 percent of the buildings were saved. U.S. crude on Monday broke a three-session winning streak. (Reuters)

Saudi Arabia's state-run oil company — which recently announced it was selling a 5 percent stake — has detailed plans to become the world's leading energy and chemicals company by 2020. Saudi Aramco is expected to be valued at more than $2 trillion. (CNBC)

Democrats vote in today's West Virginia presidential primary, where Bernie Sanders holds a lead but really can't catch up to Hillary Clinton in the overall delegate race. Meanwhile, Republicans vote in West Virginia and Nebraska today, even though Donald Trump's the presumptive nominee. (USA Today)

Bernie Sanders used a rally in New Jersey to attack Trump and Trump supporter Carl Icahn. The billionaire investor Icahn said Sanders was wrong about him, but right about the troublesome wealth gap and some CEOs being paid too much. (CNBC)

Trump said London's new mayor Sadiq Khan could be an "exception" to his call for a temporary ban on Muslims entering the U.S. Khan, a Muslim, responded by saying, "Trump's ignorant view of Islam could make both our countries less safe." (CNBC)

Facebook (FB) said it's not censoring the news and trends it shows users on the site's trending section. The social network was responding to a recent Gizmodo report that Facebook's human curators censor conservative news stories. (Recode)

California lawmakers have passed legislation requiring all single-stall bathrooms to be open to people of any gender. This follows the Justice Department's suit against North Carolina for its law requiring people to use bathrooms matching their sex assigned at birth. (Sacramento Bee)

Lumber Liquidators (LL) quarterly sales slumped 10.2 percent, the fourth straight quarter of fall, as the company struggles to convince customers its hardwood flooring is safe amid fears that some of its products could cause cancer. (CNBC)

Allergan (AGN) today announced a new share buyback program of up to $10 billion. Allergan expects to execute half of that in open market repurchases over four to six months subject to favorable market conditions.

Billionaire hedge fund manager Bill Ackman is cutting his stake in animal vaccine maker Zoetis (ZTS). Ackman's Pershing Square Capital Management is said to be selling 16.85 million shares, which would cut its stake to 25 million shares. (NY Times)

Valeant (VRX) new CEO Joseph Papa stands to receive over $67 million, but he insists he's not in it for the money. Papa outlined his plan of action taking over the helm of the embattled drugmaker in a CNBC interview. The stock has plunged 85 percent in the past year.

Chinese regulators have imposed limits on the number of lucrative health care ads carried by Baidu (BIDU). That follows an investigation into the death of a college student who had cancer and had taken a therapy found through a Baidu ad. (Reuters)

A German man armed with a knife killed one person and wounded at least three others in a dawn attack at a train station near Munich. Police are investigating witness reports that the 27-year-old suspect shouted "Allahu Akbar," which means "God is great" in Arabic. (NBC News)


The 25 best-paid hedge fund managers made nearly $13 billion last year, according to an annual ranking. In 2015, Citadel's Kenneth Griffin and James Simons of Renaissance Technologies made $1.7 billion, while Bridgewater's Ray Dalio and Appaloosa's David Tepper earned $1.4 billion.

American CEO confidence in the economy ticked up in the first quarter, the first time in more than a year. But U.S. chief executives overall see even less economic confidence than business leaders in the beleaguered euro zone.

The government issues two economic reports at 10 a.m. ET: Wholesale inventories for March and the Job Opportunities and Labor Turnover Survey (JOLTS) for March.

Earnings out this morning include Allergan (AGN), Norwegian Cruise Line (NCLH), and Tribune Media (TRCO), while Dow stock Walt Disney (DIS) and Electronic Arts (EA) lead this afternoon's after-the-bell results.

Krispy Kreme Doughnuts (KKD) is being taken private by JAB Holding in a $1.35 billion buyout deal. In March, JAB led the purchase of of K-cup coffee pod maker Keurig Green Mountain for $13.9 billion.

Dean Foods (DF) is buying the manufacturing and retail ice cream business of Friendly's Ice Cream for $155 million in cash. Dean Foods will also acquire the Friendly's trademark as well as all intellectual property.


Gap (GPS) posted lower-than-expected quarterly sales and also issued an earnings warning. Gap has been hurt by weak demand at both its Banana Republic and Old Navy chains.

SolarCity (SCTY), whose chairman is Elon Musk, posted an adjusted loss of $2.56 per share, wider than expectations. The solar company also cut its forecast for panel installations for 2016. It did beat on revenue.

Credit Suisse (CS) managed to beat market expectations with its first-quarter earnings. CEO Tidjane Thiam told CNBC market conditions had slowly improved since January and February - a period he called "very bad."

Nokia (NOK) reported lower-than-expected sales of telecom equipment for its first quarter, and it also said its full-year earnings would fall. This marks the first earnings report since Nokia took control of Alcatel-Lucent in January.

Rackspace (RAX) reported quarterly profit of 37 cents per share, 15 cents above estimates, with revenue essentially in line. The cloud computing company, however, gave a lower-than-expected revenue outlook.

United Continental (UAL) reported a 1.9 percent drop in revenue passenger miles for April compared to a year earlier. The airline maintained its prior forecast for a 6.5 to 8.5 percent decline for the second quarter.

Hertz Global (HTZ) lost 12 cents per share for its latest quarter, 11 cents wider than expected. Revenue was also below forecasts. The car rental firm continues to back its prior 2016 forecast as it cuts costs.


The many investors don't rank performance as the top criteria in picking financial advisers, a new report shows. In fact, only 33 percent rank performance No. 1. The rest of the top picks are either engagement, trust, or some combination of those factors. (CNBC)