IN THE NEWS TODAY
The Senate Judiciary Committee is expected to vote on a bill to protect Robert Mueller, the special counsel investigating potential ties between Russia and Trump's 2016 campaign as well as possible obstruction of justice by President Donald Trump. (AP)
* Trump's allies are drowning in legal fees from the Russia probes (CNBC)
Trump's personal lawyer, Michael Cohen, will invoke his Fifth Amendment right in a lawsuit filed against the president by adult film star Stormy Daniels. It allows Cohen to avoid being deposed and reveal sensitive info in the criminal investigation. (NY Times)
* Judge orders hearing in Cohen case as she considers appointing watchdog for Trump files (CNBC)
Dr. Ronny Jackson, Trump's embattled pick for Veterans Affairs secretary, denied a bombshell report that he wrecked a government car while intoxicated. Jackson, who is Trump's personal physician, also said his nomination is "still moving ahead as planned." (CNBC)
North Korean leader Kim Jong Un and South Korean President Moon Jae-in will plant a commemorative tree and inspect an honor guard together at their historic summit. The leaders will meet again in the afternoon and later attend a banquet. (AP)
Russia claimed it has got its hands on a U.S. Tomahawk cruise missile and it's going to study it to improve its own weapon systems. However, the U.S. Department of Defense told CNBC that the claims from Moscow are "absurd." (CNBC)
Deutsche Bank (DB) announced plans to significantly reduce its workforce through the rest of 2018, particularly in its corporate and investment bank and infrastructure functions. The bank posted a 79 percent fall in net profits from last year's figure. (CNBC)
Less than two weeks after his much-publicized return to Twitter, rapper Kanye West made a series of overtures to Trump on the president's favorite social media platform. Kanye told his millions of Twitter followers that he and Trump "are both dragon energy." (CNBC)
STOCKS TO WATCH
Qualcomm (QCOM) reported adjusted quarterly profit of 80 cents per share, ten cents above estimates, with the chipmaker's revenue slightly above forecasts. Qualcomm's results suggest less of a slowdown in the global smartphone market than recent forecasts from suppliers may have suggested.
Visa (V) beat consensus forecasts by nine cents with adjusted quarterly profit of $1.11 per share, while revenue topped forecasts as well. The payment network operator also raised its full-year outlook as global credit card use increases.
Chipotle Mexican Grill (CMG) – The restaurant chain reported quarterly profit of $2.13 per share, compared to the consensus $1.57 estimate. The restaurant chain's revenue was in line with forecasts, amid a 2.2 percent increase in comparable store sales. Chipotle also announced an additional $100 million stock buyback program.
PayPal (PYPL) reported adjusted quarterly profit of 57 cents per share, three cents above estimates, with revenue also above forecasts on increasing mobile payment volume.
WATERCOOLER
LeBron James made a remarkable game-winning shot for the Cleveland Cavaliers in a hard-fought battle against the Indiana Pacers on Wednesday. However, a non-call of a goaltend by James did not sit well with the Pacers or star Victor Oladipo. (Washington Post)