Here are some of the key stories CNBC is following this hour:
A charter plane crash in Australia claimed the lives of four Americans on a golfing vacation and the Australian pilot. The twin-engine Beechcraft crashed in flames shortly after takeoff, hitting an empty shopping mall in Melbourne. No one else was injured.
An Israeli court sentenced a soldier to 18 months in prison for the fatal shooting last year of a wounded Palestinian attacker. Prosecutors asked that Sergeant Elor Azaria be given a three-to-five-year sentence, while the defense asked for him to be freed. The verdict has deeply divided Israel.
A levee in the San Joaquin Valley was breached on Monday night, forcing 500 people from their homes. The breach has since been halted, but the evacuations were left in place until it was deemed safe to return.
Amazon lowered its free shipping minimum for non-Prime members to $35 from $49. This comes amid competition from Wal-Mart, which just last month lowered its minimum to $35 while speeding up its delivery to two days. Amazon's new offer delivers purchases within five to eight days, unless you sign up for Prime.