×

US stock futures higher as White House releases budget proposal — Trump condemns Manchester attack

BY THE NUMBERS

U.S. stock futures were higher this morning as the White House releases its budget proposal today. While traveling in Bethlehem today, President Donald Trump condemned the deadly terrorist blast at a concert in Britain's city of Manchester, calling terrorists who carry out such attacks "evil losers." (CNBC)

The pound fell against the yen after the concert bombing in Manchester. U.K. Prime Minister Theresa May in an address this morning from London said this attack "stands out for its appalling, sickening cowardice." Britain's political parties have agreed to suspend election campaigning until further notice. (CNBC)

IN THE NEWS TODAY

At least 22 people were killed and about 59 others were wounded in the bombing outside Manchester Arena as an Ariana Grande concert was ending last night. Greater Manchester Police said they believe the attack was carried out by one man who died in the explosion. (NBC News)

President Trump met with Palestinian Authority President Mahmoud Abbas in Bethlehem today, a day after promising to make a renewed effort at peace between the Palestinians and Israelis. (NBC News)

President Trump releases his first budget plan today. The president is proposing major cuts to health care, food assistance and other safety-net programs for the poor to balance the budget in 10 years while increasing spending for the military and other priorities. (USA Today)

Contained in the White House's 2018 budget proposal, a call to sell half of the nation's emergency oil stockpile, known as the Strategic Petroleum Reserve, and open the Alaska National Wildlife Refuge to drilling. (The Washington Post)

Trump asked two of the nation's top intelligence officials in March to help push back against an FBI investigation into possible collusion between his campaign and the Russian government, according to current and former officials. (Washington Post)

Ex-FBI Director James Comey will speak to the special counsel overseeing the probe into Russian meddling in the 2016 election before testifying publicly on the events that led to his ouster. House Oversight Committee Chairman Jason Chaffetz also said an open hearing that he hoped to hold tomorrow would be postponed. (CNBC)

Amazon (AMZN) will offer live television channels on its video platform for the first time in Europe as the U.S. technology group steps up its push into broadcasting and ramps up its competition with traditional networks. Today, Amazon holds its annual shareholder meeting in Seattle. (Financial Times)

LeEco, the Chinese company that made a big splash in the U.S. last fall, is preparing for a round of layoffs that could happen as soon as Tuesday, according to sources. Two people have told CNBC the company is planning massive layoffs, with one source saying that only 60 employees will be left in the U.S. after the cuts. (CNBC)

A group linked to North Korea is highly likely behind the global ransomware assault that hit 200,000 victims in at least 150 countries earlier this month, and the attack resembles the behavior of a crime ring rather than a government-orchestrated one, a cybersecurity researcher said. (The Wall Street Journal)

Turkey summoned John Bass, the U.S ambassador to Ankara, to its Ministry of Foreign Affairs on Monday, in protest at the treatment of Turkish security personnel following a brawl in Washington last week. (USA Today)

Euro zone ministers, the IMF and the Greek government failed to reach a final deal on the country's debt relief plan, and are postponing a decision for their next meeting in mid-June. Short-term Greek bonds are spiking on the delay. (Washington Post)

Minneapolis Fed President Neel Kashkari is scheduled to speak today and Wednesday, and Philadelphia Fed President Patrick Harker is making an appearance in New York this afternoon. Additionally, Dallas Fed President Robert Kaplan will speak Wednesday. All three are voting members of the FOMC. Here's what the rest of the week looks like. (CNBC Trading Nation)

AutoZone (AZO), Toll Brothers (TOL), and Heico (HEI) are set to release earnings reports. Investors will also be on the lookout for data, including new home sales and the Richmond Fed survey, both slated to come out at 10 a.m. ET.

STOCKS TO WATCH

Nokia (NOK) settled an ongoing patent dispute with Apple (AAPL). The two sides also signed a business partnership agreement which would give it an immediate cash payment and ongoing revenue from Apple.

Agilent Technologies (A) beat estimates by 10 cents, with adjusted quarterly profit of 58 cents per share. The medical equipment and technology company also saw revenue come in above estimates, and also raised its full-year guidance as its chemical, energy, and pharmaceutical businesses saw strong growth.

Take-Two Interactive (TTWO) said the launch of its "Red Dead Redemption 2" game would be delayed until next year, pressuring the shares of the videogame maker ahead of this morning's earnings release.

CSX (CSX) shareholders are being urged by proxy adviser ISS to approve an $84 million payout related to the hiring of Hunter Harrison as CEO. Activist investor Mantle Ridge put up that amount to free Harrison from obligations to his previous company, Canadian Pacific Railway (CP). Harrison has said he'll resign from CSX if shareholders don't approve the reimbursement.

AstraZeneca's (AZN) experimental asthma injection cut the need for patients to take oral steroids in a late-stage trial, but the drug maker also saw a setback when its diabetes drug Bydureon did not show a benefit in reducing heart risks.