| What to watch today: Dow uncertainty, the first opioid crisis trial, and 'Aladdin' at the box office |
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TUE, MAY 28, 2019
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AS OF TUE, MAY 28, 2019 • 07:37 ET
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Dow Jones Fut |
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25,585.69 |
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Current: |
25,607.00 |
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Change: |
-13.00 |
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Impl. Open: |
22.31 |
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S&P 500 Fut |
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2,826.06 |
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Current: |
2,827.00 |
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Change: |
-4.75 |
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Impl. Open: |
.09 |
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NASDAQ 100 Fut |
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7,300.96 |
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Current: |
7,310.00 |
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Change: |
-5.50 |
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Impl. Open: |
1.04 |
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Russell 2000 Mini |
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1,514.11 |
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Current: |
1,514.60 |
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Change: |
-3.10 |
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Impl. Open: |
-.76 |
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Wall Street seeks to right the ship following the long holiday weekend. The Dow logged five straight weeks of declines, its longest weekly losing streak in eight years. The S&P 500 and Nasdaq chalked up three straight down weeks. (CNBC)
With four trading days left in May, the Dow, S&P 500, and Nasdaq were on track to post their first losing month of 2019, and their first May declines since 2012. (CNBC)
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On the economic calendar, the March S&P/Case-Shiller report on home prices is out at 9 a.m. ET. The Conference Board issues its May consumer confidence index at 10 a.m. ET. There are no earnings of note out this morning. Workday (WDAY) is out with quarterly numbers after today's closing bell. (CNBC)
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We want to mention our upcoming CNBC Evolve conference on June 19 in New York City. It will feature transformative leaders from Best Buy, The New York Times, Aetna, and more discussing the ways they've adapted and innovated in the face of disruption, setting their companies up for future success. For more information go to cnbcevents.com/evolve
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The first state trial of the opioid epidemic starts today in Oklahoma involving Johnson & Johnson (JNJ) and its subsidiaries. Pharmaceutical giant Purdue Pharma and Teva Pharmaceuticals (TEVA) settled out of court. (Washington Post)
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The Supreme Court could signal as soon as today whether it's ready to revisit the landmark abortion decision Roe v. Wade. Conservative legislatures raced to pass restrictive abortion laws in the hopes of testing the 1973 decision. (CNBC)
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Meredith (MDP) agreed to sell Sports Illustrated for $110 million to licensing company Authentic Brands Group. The sports magazine and website will still be managed by Meredith, while its buyer focuses on licensing. (WSJ)
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Amazon (AMZN) is setting its sights on Manhattan's West Side. The company is reportedly in talks with owners of two skyscrapers positioned just a block west of Penn Station. This comes just months after Amazon walked away from a deal to build a headquarters in Queens. (New York Post)
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Former Vice President Joe Biden is preparing for his first fundraising tour of the San Francisco Bay Area as a 2020 presidential candidate, CNBC has learned. Biden's allies on the West Coast are aiming to host several money-making events starting in late June.
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A tornado that hit the city of Dayton destroyed homes and knocked out power across parts of Ohio. At least several injuries from the storm were reported. The weather service issued 36 tornado warnings overnight Monday across the region. (NBC News)
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Global Payments (GPN) and Total Systems Services have agreed to an all-stock merger of equals, according to CNBC's David Faber. The deal between the two payment technology companies could be announced as soon as today.
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Alibaba (BABA) is considering a stock listing in Hong Kong that would raise as much as $20 billion. The Chinese e-commerce giant pulled in $25 billion with its 2014 initial public offering on the New York Stock Exchange.
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Molson Coors (TAP) won a partial victory in its legal dispute with rival beer brewer Anheuser-Busch InBev (BUD). A court ruled that Bud Light commercials could not claim that Molson's MillerCoors unit used corn syrup in its light beers.
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Uber (UBER) announced that Ryan Graves has resigned from its board of directors. Graves was the first employee hired by Uber and briefly served as the ride-hailing company's CEO.
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Disney's live-action "Aladdin" beat the competition with an estimated $112.7 million opening weekend at the domestic box office. Lionsgate's "John Wick: Chapter 3" finished second, with Disney's "Avengers: Endgame" in third. (Variety)
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Two beefy made-up food holidays collide Tuesday. May 28 is National Burger Day, a.k.a. National Hamburger Day, and the lesser-known National Brisket Day. The USA Today pulled together burger and beef deals for today.
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