Wall Street looks to end June with another rally

IN THE NEWS TODAY

U.S. stock futures were steady this morning, after two sessions of gains recovered about 60 percent of the post-Brexit losses Friday and Monday on Wall Street. But it's been a rough month for stocks, with the Dow, S&P 500, and Nasdaq in the red ahead of the last trading day of the month. (CNBC)

The second quarter on Wall Street ends today, with the Dow and S&P 500 slightly positive for the past three months and for the year. But the Nasdaq was solidly lower for both periods. All three stock measures were coming off their best two-session gains of the year. (CNBC)

European stocks were steady this morning, after two days of gains that erased all of the post-Brexit losses in London. The British pound was higher against the dollar for the third straight session. Meanwhile, gold and oil prices were lower, while global bond yields were higher. (CNBC)

Addressing the European Parliament in Brussels today, billionaire investor George Soros said the Brexit vote "unleashed a crisis in the financial markets," but added Britain's actual departure from the European Union was not a done deal yet. (CNBC)

Boris Johnson, former mayor of London and top Brexit campaigner, said today he won't run to be the next U.K. prime minister to replace the outgoing David Cameron. Several high-profile members of the U.K.'s ruling Conservatives have thrown their hats into the ring. (CNBC)

The Fed's stress tests approved the capital plans for 31 of 33 banks, with only the U.S. banking units of Deutsche Bank (DB) and Banco Santander failing. Morgan Stanley (MS) received conditional approval, while M&T Bank (MTB) passed after scaling back capital distribution plans. (Reuters)

After passing the Fed's stress tests, a number of financial firms announced increases in dividends and/or buybacks, including Bank of America (BAC), Citigroup (C), American Express (AXP), and JPMorgan Chase (JPM). Others included, KeyCorp (KEY), SunTrust (STI), and BB&T (BBT). (CNBC)

Movie channel Starz (STRZA) is being acquired by Lions Gate Entertainment (LGF), the movie studio behind "The Hunger Games" franchise, for $4.4 billion in cash and stock. (CNBC)

Mobileye (MBLY), which specialized in autonomous-vehicle technology and software, is planning to team up with Intel (INTC) and BMW to develop self-driving cars. The three companies plan to hold a joint news conference Friday. (Reuters)

Amazon (AMZN) has finally lifted the lid on its second-annual Prime Day sale, which it's touting as the "biggest Amazon event ever." On July 12, the online retailer will offer Prime members new deals as often as every five minutes. (CNBC)

Alphabet's (GOOGL) Google unit, Apple (AAPL), and Amazon use their size to "snuff out competition," Massachusetts Sen. Elizabeth Warren said in a speech. Earlier this week, she appeared at an event with presumptive Democrat presidential nominee Hillary Clinton. (Recode)

Presumptive GOP presidential nominee Donald Trump, less than three weeks from the party's convention, told a crowd he is not happy that some of his former rivals aren't endorsing him. The way he sees it, there should be consequences.

Turkish police arrested 13 people in connection with the deadly attack on Istanbul's airport. At least 42 people died and more than 200 were injured when assailants with guns and explosives hit the airport on Tuesday.

BY THE NUMBERS

St. Louis Fed President James Bullard speaks at around 3:20 p.m. ET in London.

The Labor Department is out with its weekly look at initial jobless claims at 8:30 a.m. ET, with economists expecting of 265,000 new filings for last week, up from 259,000 in the prior period.

The Chicago purchasing manager's index is out at 9:45 a.m. ET, with forecasts calling for a reading of 51.0 in June, back on the expansion side of the ledger, after coming in at 49.3 in May.

Earnings reports out this morning include ConAgra (CAG), Constellation Brands (STZ), Olive Garden parent Darden Restaurants (DRI), McCormick (MKC), and Paychex (PAYX). Micron Technology (MU) issues its quarterly numbers after this afternoon's closing bell.

Tractor Supply (TSCO) issued weaker than expected current quarter guidance and cut its annual earnings forecast, saying cooler than average spring weather had hurt sales.

STOCKS TO WATCH

Hertz (HTZ) struck agreements with both Uber and Lyft to supply rental cars. Drivers can use the cars both for personal use and for trips on behalf of the two ride-hailing services.

Nielsen (NLSN) unveiled its first-ever results surveying viewership of TV shows on streaming services. The information was presented to a Las Vegas conference and obtained by the Wall Street Journal.

The chief content officer of Netflix (NFLX) told a media event in South Korea the streaming service is still considering an entry into China, as it looks for new ways to increase its subscriber base internationally.

United Continental (UAL) flight attendant union leaders have agreed to put a tentative contract agreement to a membership vote, following several years of negotiations on a combined labor contract.

Oracle (ORCL) sold $14 billion in bonds Wednesday, in the third largest bond offering of 2016. The proceeds from the sale are expected to partially finance stock buybacks.

Seagate Technology (STX) plans to cut about 1,600 jobs, or 3 percent of the hard disk drive maker's workforce. That follows a round of job cuts last year and lower than expected earnings in the most recent quarter.

WATERCOOLER

Less than a year since he stepped down as the chairman of Carnegie Hall after clashing with its staff, Ron Perelman, the billionaire businessman, announced he's donating $75 million to revive plans to build a performing arts center at the World Trade Center site.