US stock futures and the euro lose their initial pop on the French election


U.S. stock futures were lower this morning after initially rising on centrist Emmanuel Macron's easy victory in Sunday's French presidential election. The defeat of far-right Marine Le Pen was a blow to the nationalist movement in Europe that's threatening to break up the euro. (CNBC)

The euro hit a six month high of $1.10 against the dollar after the French election result, before slipping back a bit. If the single currency were to keep moving higher, historically U.S. firms that do a lot of business in Europe like Visa (V) and McDonald's (MCD) stand to benefit. (CNBC)

Corporate earnings reports are rather slow today. There are no economic reports. But two Fed presidents, Cleveland's Loretta Mester and James Bullard of St. Louis speak around 8:30 a.m. ET this morning, as odds increase for an interest rate hike in June.

Investors anxious about U.S. stocks should not expect global diversification to save them, said Aswath Damodaran, professor of finance at New York University's Stern School of Business. (CNBC Trading Nation)


The next test for Macron and his independent En Marche movement is parliamentary elections in June. The party currently has no seats in the legislature. Without backing from lawmakers, Macron may have a tough time enacting his reform proposals. (CNBC)

In her concession speech, Le Pen pledged to form a "number one opposition force" to counter globalization. She called on "all patriots to join" in the new movement and vowed to challenge the status quo within French politics. (CNBC)

Cable companies Comcast (CMCSA), parent of CNBC and NBC, Charter (CHTR) have reached an operational agreement on working together on wireless communications plans.

Sinclair (SBGI) is nearing a deal to acquire Tribune (TRCO) for close to $4 billion after prevailing in an auction for one of the largest U.S. television station operators. (Reuters)

Billionaire investor Warren Buffett told CNBC on Monday it's "amazing" how Apple has resonated with consumers, and that's why Berkshire Hathaway bought the stock. Buffett joins CNBC's "Squawk Box" for three hours until 9 a.m. ET this morning.

Buffett admitted to shareholders Saturday he made a mistake by not buying Google shares years ago when the company was getting $10 or $11 per advertising click from Berkshire's Geico.

Investors with more than $15 trillion of assets under management, including the California Public Employees Retirement System, urged governments led by the U.S. to implement the Paris accord to fight climate change, despite President Donald Trump's threats to pull out. (Reuters)

The EPA has dismissed at least five members of a major scientific review board, the latest signal of what critics call a campaign by the Trump administration to shrink the agency's regulatory reach by reducing the role of academic research. (NY Times)

Vice President Mike Pence, Trump's daughter Ivanka Trump and her husband Jared Kushner attend a biotech summit today, along with the head of NIH and executives from Celgene (CELG) and Regeneron (REGN).

A day after wooing wealthy Chinese in Beijing, the firm of Kushner's family firm offered attendees in Shanghai a path toward living in the U.S. in exchange for investments. (NY Times)

Candidate Trump's calls for a ban on Muslim immigration are at the heart of a challenge to his revised executive order restricting travel set to be considered today by a federal appeals court. (NBC News)

Texas Gov. Greg Abbott has signed a bill banning so-called sanctuary cities. At the federal level, Trump's executive order limiting funding to cities that restrict cooperation with immigration authorities remain blocked in court. (NY Times)

Having filled a Supreme Court vacancy, Trump is turning his attention to the more than 120 openings on the lower federal courts. The president plans to announce today a slate of 10 nominees to those courts. (NY Times)

Sally Yates, a former deputy attorney general under Obama who was then pushed out by Trump early on, testifies in front of a Senate panel today about Russia's attempts to interfere with election and former Trump National Security Advisor Michael Flynn. (NBC News)

Speaking at the John F. Kennedy Library in Boston as he accepted an award, former President Obama took aim at Trump and congressional Republicans who are pushing to repeal his signature health care law. (USA Today)


PPG (PPG) saw a third rejection from Dutch paint maker Akzo Nobel, following its latest takeover bid valued at $29.5 billion. Akzo said the latest bid still undervalues the company and faces antitrust risks.

Rexnord (RXN) was the target of a critical tweet from President Trump over the weekend. The president is assailing the industrial supplier for moving jobs to Mexico from Indiana.

KKR (KKR) is considering a bid for Toshiba's semiconductor unit, according to a Bloomberg report. KKR and its partners are said to be willing to pay up to $18.6 billion for the unit, which is currently being shopped.

Sabra Health Care (SBRA) is buying Care Capital Properties (CCP) in a $7.4 billion all-stock transaction that combines two health care real estate investment trusts.


Disney (DIS) and Marvel's "Guardians of the Galaxy" franchise put up stellar results in its return to theaters this weekend "Guardians of the Galaxy Vol. 2" brought in $145 million, topping the North America box office. (CNBC)

The New York Yankees outlasted the Cubs in Chicago Sunday evening into Monday morning in a marathon 18 innings at Wrigley Field that saw a major league record 48 total strikeouts. (NBC Sports)