These are the stocks posting the largest moves before the bell.Market Insiderread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
Amazon announced on Tuesday that Amazon Prime Day will last for two days and starts on July 15 and runs through July 16.Technologyread more
"What else do you have to do that will actually have to affect the Iranians' calculus?" said Amos Hochstein, who served as U.S. special envoy for international energy affairs...World Politicsread more
Buffett says he has no tensions with 3G Capital, Berkshire Hathaway's partner in troubled Kraft Heinz. 3G co-founder Jorge Paulo Lemann is "a good friend," he adds.Investingread more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
FedEx heads into Tuesday afternoon's earnings deep in a bear market. A failure to deliver could mark a massive buying opportunity.Trading Nationread more
SpaceX used its high speed boat called "Ms. Tree" to catch the nosecone its Falcon 9 rocket after Monday's launch.Investing in Spaceread more
FedEx sued the U.S. government, saying it should not be held liable if it inadvertently shipped products that violated a Trump administration ban on exports to some Chinese...Traderead more
After Taylor Swift released her latest music video "You Need To Calm Down," LGBTQ advocacy organization GLAAD saw a surge in donations. The video drew some criticism around...Entertainmentread more
The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
President Donald Trump's advisory committee on infrastructure submitted a one-page proposal last week outlining a broad plan for generating $1 trillion in investment over the next decade, according to a source familiar with the document.
The document attempts to fill one of Trump's key campaign pledges for boosting economic growth. The committee sent it to the White House on Friday, the person said, and it resembles the single page of bullet points that the administration released last month on tax reform.
Included in the one-page proposal was recommendation to establish an infrastructure "bank" to help vet and fund projects.
On Monday, Transportation Secretary Elaine Chao promised that the president would be releasing his principles for infrastructure investment within the next few weeks. Another source familiar with the process said the administration hopes Congress will draft legislation by the third quarter.
"We are fortunate to have a president who understands the challenges of infrastructure, perhaps more than any other leader in recent memory," Chao during a conference at the U.S. Chamber of Commerce to kick off Infrastructure Week, a meeting of business executives and labor leaders. "He has made revitalizing, repairing and rebuilding our country's infrastructure one of his top priorities."
Those priorities have been jeopardized, however, by turmoil in the White House over the past week that is testing relationships with the Republican lawmakers on Capitol Hill who will have to turn the administration's goals into legislative reality. The firing of FBI Director James Comey, swirling questions of the campaign relationship with Russia and reports that Trump divulged classified information during a closed meeting with Russian officials all threaten to delay — and potentially derail — the president's economic agenda.
Key lawmakers from both parties have criticized the White House in recent days, though the administration hopes that infrastructure will be a topic of bipartisan agreement. Chao acknowledged Monday that public-private partnerships will not work in every community, particularly rural areas where investors may not receive significant returns on investment — easing the concerns of Democrats and even some Republicans.
Chao also said that a few "special projects" might qualify for full federal funding. However, she said the government would prioritize projects for which state and local jurisdictions have already identified at least some financing. Office of Management and Budget Director Mick Mulvaney has said that the White House intends to use $200 billion in federal funding to leverage much larger private investment.
A senior administration official said the White House is still considering using money from repatriated foreign earnings to pay for the plan.