Morning Brief

S&P 500 and Nasdaq set to post a positive month and quarter

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BY THE NUMBERS

Futures were higher this morning, with the S&P 500 and Nasdaq on track to finish higher for the month of June and the second quarter. The Dow is down about 200 points for June with one trading day to go, although it's up by about 113 points for the quarter. (CNBC)

Dow component Nike (NKE) was 9 percent higher in premarket trade after it reported that North American sales rose for the first time in a year, and it also announced a $15 billion stock buyback. The athletic footwear and apparel maker beat on the top and bottom line. (CNBC)

Wells Fargo (WFC), Bank of America (BAC), JPMorgan Chase (JPM), Citigroup (C) and other banks are on watch after the results of the Fed’s stress tests and announcements by the banks of their dividend and stock buyback plans. Deutsche Bank’s (DB) U.S. unit was the only bank whose capital plan was not approved by the Fed. (CNBC)

The government will be out with personal income and spending numbers for May at 8:30 a.m. ET, while the Chicago Purchasing Managers Index is out at 9:45 a.m. ET. And at 10:00 a.m. ET, the University of Michigan’s final June Consumer Sentiment Index is out. (CNBC)

Spirits producer Constellation Brands (STZ) is the only company of note out with quarterly earnings this morning, with no reports scheduled after today’s closing bell. (CNBC)

IN THE NEWS TODAY

Five people have died and several others are injured after a shooting at the Capital Gazette newspaper building in Maryland, officials said. The suspected shooter is 38-year-old Jarrod Ramos, and has been charged with five counts of first-degree murder. (NBC Washington)

President Donald Trump repeatedly told top White House officials he wants to withdraw the U.S. from the World Trade Organization, according to Axios. A source said Trump has told advisors: "'The WTO is designed by the rest of the world to screw the United States.'"

Reuters has learned that Trump has been consulting with some of his advisers on who could succeed John Kelly should the White House chief of staff step down from his post. Kelly, a retired general, is nearing a year in the job and could be leaving soon.

Trump has hit the ground running, meeting with key senators to discuss the Supreme Court vacancy. The GOP plan for selecting the next member was ready to go even before longtime Justice Anthony Kennedy made his retirement announcement. (AP)

Andrew Miller, a former aide to Trump advisor Roger J. Stone Jr., was subpoenaed to appear in federal court to provide evidence and hand over documents related to the Russia investigation, The New York Times reported.

The Justice Department charged 601 people, including doctors, for taking part in health care frauds that resulted in over $2 billion in losses and contributed to the nation’s opioid epidemic in some cases. Some were charged for distributing addictive painkillers. (Reuters)

Despite Alexandria Ocasio-Cortez's win over Joe Crowley, Democrats have not gone as far left as some argue. Crowley is the only House Dem so far to lose a primary, and national Dems have gotten their preferred candidates in the majority of swing districts. (CNBC)

Andres Manuel Lopez Obrador, a former mayor of Mexico City, is the heavy favorite to win Mexico’s presidential election over the weekend. His lead comes amid voter dissastification over the country's murder epidemic and modest economic growth. (WSJ)

Tesla (TSLA) is sending out e-mails to all Model 3 reservation holders in North America, informing them that their electric sedans are ready to order and asking for an additional $2,500 to fulfill their orders.The move could help Tesla in its drive toward profitability this year. (CNBC)

Amazon (AMZN) said it would acquire online pharmacy PillPack, in a deal that is shaking up the drugstore industry. Shortly after the news, shares of drugstore operators Walgreens (WBA), CVS Health (CVS) and Rite Aid (RAD) tanked as well as drug distributors. (CNBC)

STOCKS TO WATCH

KB Home (KBH) beat estimates by 9 cents with quarterly earnings of 57 cents per share, with the home-builder’s revenue also topping Street predictions. KB Home saw average selling prices rise by 4 percent during the quarter, with new orders up 3 percent.

21st Century Fox (FOXA) shareholders will vote on Walt Disney’s (DIS) bid for Fox assets on July 27, according to an announcement from both companies. NBCUniversal parent Comcast (CMCSA) continues to mull a possible counteroffer, with the scheduling of that meeting effectively setting a deadline for a new bid.

Novartis (NVS) announced plans to spin off its Alcon eye care business to shareholders, as it refocuses on its prescription drug business. Novartis had purchased the U.S.-based unit for $52 billion back in 2011. The drug-maker also announced a $5 billion share buyback.

Raytheon (RTN) and Lockheed Martin (LMT) are both candidates to sell new advanced radar systems to Japan, according to a Reuters report. Sources say Japan will buy the new systems from one of those companies as it upgrades its missile defenses.

Blue Apron (APRN) could come under pressure following news that German competitor HelloFresh may start selling ready-made meals online. Co-Founder Thomas Griesel told a German newspaper that he sees a very big market niche for such meals.

WATERCOOLER

There are no World Cup games today, now that the group stage has ended at the soccer tournament in Russia. The knockout Round of 16 begins tomorrow. Here are USA Today's top 10 moments from the first 15 days. (USA Today)