Here are the most important news items that investors need to start their trading day:
1. Shaking it off
Stocks bounced back a little Tuesday following some recent declines. The Dow snapped a six-session losing streak, while the S&P 500 and the Nasdaq jumped even higher. All in all, it's been a good quarter for stocks, particularly for the Nasdaq. The tech-heavy index, already up nearly 30% so far this year after a dour 2022, is on track for its best first half in four decades, benefiting from the rapid rise of generative AI. On Wednesday, meanwhile, investors will hear from Federal Reserve Chairman Jerome Powell, who will speak at an event in Portugal alongside other central bankers. Follow live market updates.
2. Summertime blues
It's summer. That means it's time to cash in those vacation days and dart off to exciting destinations. It also means headaches at the airport. This year's summer travel season is off to a turbulent start with bad weather delaying and canceling thousands of flights this week. Airlines also point to lingering air traffic control staffing shortages at the Federal Aviation Administration. On Monday, United Airlines CEO Scott Kirby told employees "the FAA frankly failed us this weekend." The FAA shot back with a curt response: "We will always collaborate with anyone seriously willing to join us to solve a problem." It looks like those stormy skies won't clear up any time soon.
3. Pride Month battlegrounds
Pride Month is almost over, but the battles are still raging. Starbucks filed a labor complaint against the baristas union, arguing the group engaged in a "smear campaign" against the company over its Pride policies. Starbucks Workers United, which represents employees at hundreds of U.S. Starbucks locations, organized pickets at locations at which they say managers told employees to remove Pride decorations. Then there's a new fight emerging at Google, which, like Starbucks, has sought to cultivate a socially progressive reputation. The tech giant distanced itself from a drag show it had planned as a capper to Pride Month festivities after an employee petition opposing the event began circulating.
4. Costco cracks down
Costco wants to remind everyone that you have to be a member to shop there. The bulk-selling behemoth is cracking down on shoppers using membership cards that don't belong to them, checking for photo IDs more often. Costco said it noticed an increase in membership card abuse since it expanded its self checkout lanes at stores. "We don't feel it's right that non members receive the same benefits and pricing as our members," the company said. Costco's move comes soon after streaming giant Netflix implemented a new policy to limit password sharing, as companies in general work to find ways to grow and maintain membership profits.
5. Ukraine sees Putin's end coming soon
The failed mutiny of Wagner mercenaries over the weekend created serious new doubts about Russian President Vladimir Putin's leadership and his war in Ukraine. Likewise, Ukrainian officials have welcomed the strife, and they see Putin's downfall coming. "I think the countdown has started," a top advisor to Ukraine President Volodymyr Zelenskyy said, according to the BBC. Nevertheless, the fighting continues for now. Ukraine accused Russia of killing at least eight people Tuesday in a missile strike that hit a restaurant. Follow live war updates.
– CNBC's Sarah Min, Leslie Josephs, Kate Rogers, Jennifer Elias, Melissa Repko, Karen Gilchrist and Ruxandra Iordache contributed to this report.
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