Futures were higher this morning after a rally that saw the Dow’s biggest one-day jump since June 6 and a close for the S&P 500 that was the highest in nearly a month. The major averages are up for three straight days and six of the past seven sessions. (CNBC)
PepsiCo (PEP) reported second-quarter earnings of $1.61 per share, 9 cents above estimates. Revenue came in at $16.09 billion. That figure is higher than the $16.04 billion expected on Wall Street. WD-40 (WDFC) is among the few companies set to release its earnings report after today’s closing bell. (CNBC)
The economic calendar is light once again today, but the Labor Department will release its May report on Job Opportunities and Labor Turnover (JOLTS) at 10 a.m. ET. (CNBC)
President Donald Trump has picked Brett M. Kavanaugh, a federal appeals court judge with extensive legal credentials and a lengthy political record, to succeed Justice Anthony M. Kennedy at the Supreme Court. (CNBC)
Trump's four-nation European tour that begins today in Brussels will also take the U.S. president to London, where Prime Minister Theresa May’s government is in turmoil over her plans for exiting the European Union. (AP)
The Trump administration lost a bid to persuade a federal court to allow long-term detention of migrant families. They said long-term confinement was the only way to avoid separating families when parents were detained on criminal charges. (NY Times)
Trump's longtime personal driver Noel Cintron, in a suit, accused the Trump Organization of not paying him for "thousands of hours of overtime" to which he was legally entitled during his more than two decades of service. (CNBC)
A tenth person was rescued today from a flooded Thai cave complex where 12 boys and their soccer coach were trapped for more than two weeks. The rescues raised hopes that all 13 would be out by the end of the day. (Reuters)
Southwest Airlines announced it will stop serving peanuts starting August 1. The decision comes after Southwest and other airlines have grappled with passenger allergies, which can cause severe and even life-threatening reactions. (CNBC)
Microsoft (MSFT) announced the new Surface Go, a cheaper $400 Surface laptop that will compete with Apple's (AAPL) iPad. The Surface Go has a 10-inch display, comes with 64GB of storage. It'll be released in August. (CNBC)
People are using Fitbits and Apple Watches to monitor their heart rate when bingeing on drugs. Academics and medical professionals say it's a concerning trend that might give people a false sense of security. (CNBC)
YouTube is using $25 million to fight fake news by investing in supporting global news organizations' video efforts, as well as working with several groups to improve the news experience on its platform. (CNBC)
Pfizer (PFE) responded to criticism from Trump about raising drug prices, saying that prices have remained unchanged for the majority of its drugs and that in some cases, prices have fallen. The president criticized Pfizer and other drug companies for their pricing practices in a Monday tweet.
Japan’s Takeda Pharmaceutical received approval from the Federal Trade Commission for its $62 billion purchase of British drug-maker Shire (SHPG). Takeda still needs regulatory approval from the European Union and China.
SoftBank increased its stake in Yahoo Japan to over 48 percent from about 43 percent, as part of a complex deal with Altaba (AABA) for a net investment of about $9 million. Altaba, the company formerly known as Yahoo, will now have a 27 percent stake in Yahoo Japan.
Fuji Xerox CEO Kouichi Tamai told Reuters the joint venture between Xerox (XRX) and Fujifilm would not be broken up, despite the ongoing dispute between the two companies over the planned merger that was canceled by Xerox.
Baidu (BIDU) will collaborate with automaker BMW to develop autonomous driving technology in China.
WPP (WPP) was outbid by former CEO Martin Sorrell for Netherlands-based digital production agency MediaMonks. The Wall Street Journal reported that a new venture founded by Sorrell will pay about $352 million for MediaMonks.
Match Day 22 at the World Cup in Russia features France versus Belgium in the first semifinal. Players to watch: France's 19-year-old Kylian Mbappe and Beligum's Eden Hazard. England faces Croatia in tomorrow's other semifinal. (Fox Sports)