Stock futures were sharply lower this morning on the news that the U.S. is preparing a new round of China trade sanctions worth $200 billion. The Dow, S&P 500, and Nasdaq all have four-day win streaks and have risen in eight of the past nine sessions. (CNBC)
China slammed the Trump administration's threat to expand tariff hikes to imports including apples, fish sticks and French doors as a “totally unacceptable” escalation of their trade battle and vowed to protect its “core interests.” (AP)
Investors will get a look at June inflation figures today, with the government set to release June Producer Price Index numbers at 8:30 a.m. ET. Additionally, May wholesale trade numbers are out at 10 a.m. ET. After falling for two straight weeks, mortgage application volume rose 2.5 percent last week. (CNBC)
Fox (FOXA) said it had raised its offer price to buy the part of British broadcaster Sky that it did not already own, and has agreed to a new deal that values Sky at $32.5 billion. That tops an offer from NBCUniversal parent Comcast (CMCSA), which could still come back with another offer. (CNBC)
President Donald Trump launched a scathing attack on German support for one of Europe's most contentious energy developments today, saying Germany is “totally controlled” by Russia. Germany dismissed Trump's criticism. (CNBC)
Pfizer (PFE) said it would roll back drug price increases that had gone into effect July 1 for a maximum of six months, following a conversation between CEO Ian Read and Trump. Separately, the company announced it would reorganize its business into three units. (CNBC & Reuters)
The Trump administration will cut at least $26 million in funding from a key Affordable Care Act program that helps people sign up for health insurance. Last year, the administration cut more than 40 percent from the program. (USA Today)
The Consumer Financial Protection Bureau is likely to face one of its toughest critics at the Supreme Court if Trump nominee Brett Kavanaugh, a judge on the D.C. Circuit Court of Appeals, is confirmed by the Senate. (CNBC)
High gas prices are raising concerns about one of the longest-running U.S. economic expansions on record, The Wall Street Journal reported. Drivers have paid as much as $2.96 a gallon on average this year, the most since 2014.
Buried in a criminal complaint against an ex-Apple (AAPL) engineer who's being charged with stealing trade secrets is a revelation about the size of Apple's autonomous driving systems project: 5,000 employees are working on it or know about it. (CNBC)
Uber's head of human resources resigned from the company. Liane Hornsey's departure comes after Reuters contacted Uber about an investigation into complaints about Hornsey's handling of allegations of race-based discrimination. (Axios)
Facebook (FB) will be fined £500,000 ($662,900) in the U.K. after the country’s privacy watchdog said its data sharing scandal broke the law. Facebook said it was "reviewing the report" and will respond to the regulator soon. (CNBC)
The 12 boys and soccer coach rescued over the three previous days from a flooded cave in Thailand lost weight during their 18-day ordeal but had water while they were trapped and are in good health, a health official said today. (AP)
Alphabet’s (GOOGL) Google unit faces a European Union antitrust fine as soon as next week, according to the Wall Street Journal. The current case involves Google’s Android operating system for mobile phones. The paper said the fine could be higher than the $2.82 billion fine assessed against Google last year for abusing the dominance of its search engine.
Tesla (TSLA) will no longer require reservations for potential buyers of its Model 3 car, and is now taking orders throughout the U.S. and Canada. Previously, buyers had to put down a $1,000 deposit to be on the waiting list for a Model 3.
Analog Devices (ADI) is teaming up with China’s Baidu (BIDU) to advance autonomous driving technology. The chipmaker and Baidu will share resources and technology as part of the effort.
JetBlue (JBLU) ordered 60 Airbus A220-300 jets, with an option to buy 60 more.
Apple (AAPL) may have violated Japan’s antitrust rules, according to Japanese regulators. Japan’s Fair Trade Commission said Apple’s Japan unit had forced mobile service providers to sell iPhones at low prices and charge higher monthly fees.
Match Day 23 in Russia decides Sunday's World Cup final match-up. The winner of today's England-Croatia semifinal plays France in the championship match. The loser faces Belgium on Saturday in the third place game. (Fox Sports)