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What Brexit? S&P 500 takes aim at record highs

IN THE NEWS TODAY

U.S. stock futures were higher this morning, following strength in Europe and Asia, as near-term Brexit fears receded. The S&P 500 is very close to breaking record highs, after Friday's strong rally on the stronger-than-expected June jobs report. (CNBC)

U.K. lawmaker Andrea Leadsom is pulling out of the race to become the new leader of Britain's ruling Conservative Party. The announcement means Interior Minister Theresa May will be the sole candidate to succeed David Cameron as British prime minister. (CNBC)

Japan's Nikkei stock index soared nearly 4 percent overnight, bolstered by election results in Japan and shrugging off concerns a strong U.S. jobs report might push the Federal Reserve closer to hiking rates. (CNBC)

The dollar was sharply higher against the Japanese yen, while gold and bond yields were steady. Oil was lower this morning, after U.S. crude suffered its worst week since February, tanking more than 7 percent. (Reuters)

Both stocks and bonds looked expensive after rallying together and are now vulnerable to a quick selloff, Goldman Sachs wrote in a research note, going overweight in cash. (CNBC)

The gunman who killed five Dallas officers appeared to have been planning a larger attack, the city's policy chief said after a search of Micah Johnson's home revealed bomb-making materials and a journal. (Reuters)

The latest name to surface in Donald Trump's veepstakes criticized Democrat Hillary Clinton for what he called a lack of leadership in the wake of last week's shootings. The Republican convention opens a week from today. (USA Today)103777500

The awkward dance between Clinton and Bernie Sanders, her top Democratic opponent, is set to conclude tomorrow, when the Vermont senator appears alongside her at a New Hampshire rally. (NY Times)

Boeing (BA) CEO Dennis Muilenburg told CNBC he saw "significant opportunity" in selling aircraft to Iran, calling for approval from the U.S. government. But if we can't, neither should our rivals, he added. (CNBC)

Ultimate Fighting Championship, the well-known mixed martial arts promoter, is expected to announce that it's selling itself to a group led by the talent giant WME-IMG for about $4 billion. (NY Times)

Nintendo shares in Japan surged about 25 percent today, on hopes the new Pokemon GO app would give the company's mobile gaming business a serious boost. The app was rolled out last week. (CNBC)

Universal Pictures scored a No. 1 hit at the box office over the weekend, with "The Secret Life of Pets," chalking up $103.2 million in North American ticket sales. Comcast (CMCSA) is the parent of NBC Universal and CNBC. (Variety)

CBS (CBS) has filed to take its CBS Radio business public. The company currently operates 117 radio stations and preliminary plans indicate that roughly $100 million would be raised in the planned IPO. (Reuters)

Wal-Mart (WMT) is offering free shipping with no minimum purchase through Friday, firing a preemptive shot in a retail battle with Amazon (AMZN), which starts its second annual Prime Day tomorrow. (CNBC)

A decade after unveiling a "master plan" to turn Tesla (TSLA) into an automotive powerhouse, founder Elon Musk has dropped a big hint that he's working on "part 2," with details to come later this week. (CNBC)

The hacking outfit OurMine has already been responsible for a few high-profile Twitter account takeovers. But now Twitter CEO Jack Dorsey has fallen victim. (The Verge)

The final curtain call for four departing Hamilton cast members, including show creator Lin-Manuel Miranda, was broadcast via Facebook Live on Saturday night. (Vanity Fair)

BY THE NUMBERS

This week is likely to be shaped by economic data, key earnings reports and more than a dozen Fed speakers, as the meeting of central bank policymakers later this month draws closer.

No economic numbers are due out today, but the first of the Fed commentary comes at 10 a.m. ET when Kansas City Fed President Esther George speaks about the U.S. economy in Lake Ozark, Missouri.

There are no major earnings reports due out this morning, but Alcoa (AA) is out with quarterly numbers after the closing bell, in what was once considered the traditional start of earnings season.

The average price of gasoline has dropped 7 cents over the past three weeks to $2.29 per gallon, thanks to lower oil prices and abundant gasoline supply.


STOCKS TO WATCH

Zoetis (ZTS), the pet vaccine business spun off by Pfizer (PFE) in 2013, saw Bill Ackman's Pershing Square Capital Management cut its stake to 3.8 percent by selling another 6 million shares.

WellCare Health Plans (WCG) and Centene (CNC) have each made offers for the Medicare Advantage plans that insurer Aetna (AET) is seeking to sell to try to gain approval from regulators for its deal to buy Humana (HUM).

U.S.-based Sagent Pharmaceuticals (SGNT) will be acquired by Japan's Nichi-Iko Pharmaceutical for $736 million, or $21.75 per share in cash. That compares to a Friday close of $15.50 per share.

Britian's AstraZeneca (AZN) is considering a late bid for Medivation (MDVN), according to a report on London's Sunday Times. U.S.-based Medivation opened its books to Pfizer (PFE) and Sanofi (SNY) last week. It's also reportedly talking to other potential bidders.

Kimberly-Clark (KMB) is shutting down its operations in Venezuela due to a slumping economy, which has resulted in significant consumer inflation as well as goods shortages.

Kinder Morgan (KMI) sold a 50 percent stake in its southeastern pipeline system to electric and gas utility Southern Company (SO) for $`1.47 billion. Kinder Morgan will use the proceeds to pay down debt.

WATERCOOLER

Substitute Eder's thunderous finish deep into extra time against host-country France secured Portugal's first European Championship title, even after Cristiano Ronaldo's early exit due to injury. (Reuters)

Britain's Andy Murray claimed his second Wimbledon title with a clinical defeat of big-serving Canadian Milos Raonic. The world No. 2, champion in 2013, was in control throughout the match. (Reuters)