| What to watch today: Stocks set to open flat after new S&P 500, Nasdaq record closes | | |  | TUE, JUN 29, 2021 | | | | AS OF TUE, JUN 29, 2021 • 08:22 ET | | Dow Jones Fut | | 34,283.27 | | Current: | 34,264.00 | | Change: | 100.00 | | Impl. Open: | 106.73 | | | S&P 500 Fut | | 4,290.61 | | Current: | 4,281.75 | | Change: | 1.25 | | Impl. Open: | 2.14 | | | NASDAQ 100 Fut | | 14,524.98 | | Current: | 14,494.00 | | Change: | -18.50 | | Impl. Open: | -18.98 | | | Russell 2000 Mini | | 2,322.34 | | Current: | 2,321.60 | | Change: | 5.40 | | Impl. Open: | 5.26 | | On today's economic calendar, the S&P/Case-Shiller report on April home prices is out at 9 a.m. ET. Economists expect a 14.5% increase in the nation's 20 largest cities. That would be up from 13.5% in March. The Conference Board releases its June consumer confidence index at 10 a.m. ET. (CNBC)
* Treasury yields climb with focus on employment data (CNBC) | | | | Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan Chase (JPM), Wells Fargo (WFC) and Bank of America (BAC) all announced dividend increases after passing the Federal Reserve's latest stress tests. Citigroup was the only one of the six largest U.S. banks to keep its dividend unchanged. (CNBC) | | JPMorgan has agreed to buy OpenInvest, a San Francisco-based start-up backed by venture capital giant Andreessen Horowitz and founded by former employees of the Bridgewater Associates hedge fund, CNBC has learned. OpenInvest allows investors to create personalized, dynamic values-based portfolios focused on ESG. (CNBC) | | | | The NBA made a record $1.46 billion in sponsorship revenue in its 2020-21 regular season, according to estimates by IEG, a sports consultancy. The league saw 13 new deals, including one from Microsoft (MSFT). The tech sector helped the league bring in roughly $115 million per year in new spending. (CNBC) | | | | Walmart (WMT) will start to sell a less expensive version of analog insulin to people who do not have health insurance or struggle to afford the drug's cost. The retailing giant has made a bigger push into health care as it tries to leverage its massive reach for new opportunities. It's sought to bring "everyday low price" to medical care. (CNBC) | | | | Juul Labs has agreed to pay North Carolina $40 million and change its business practices in the state in a settlement of a teen marketing lawsuit. The company is currently facing similar lawsuits from at least nine other states. Regulators and health officials have blamed Juul for the popularity of e-cigarettes among teens. (CNBC) | | | | President Joe Biden is set to travel to Wisconsin on Tuesday, hoping to convince voters of the economic benefits of the new bipartisan infrastructure compromise. The president presented his message to Democratic donors Monday, saying that the $973 billion package "signals to the world that we can function, we can deliver" and that "we can do significant things, show that America is back." (AP) | | | | A new committee to investigate the Jan. 6 insurrection at the U.S. Capitol would have 13 members and the power to subpoena witnesses, according to legislation released by House Speaker Nancy Pelosi. The House is expected to vote on the bill this week. (AP) | | UBS cut its price target on Tesla (TSLA) shares to $660 from $730, while maintaining a "neutral" rating, noting increasing competition as well as operational delays. Tesla has dropped more than 20% from its all-time high of $900.40 per share on Jan. 25. The stock was down slightly in Tuesday's premarket. | | | | Herman Miller (MLHR) reported quarterly profit of 56 cents per share, beating estimates of 39 cents a share. The office furniture maker's revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and shares fell 4% in the premarket. | | | | Jefferies Financial (JEF) beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading. | | | | XPO Logistics (XPO) announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday's close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket. | | | | General Electric (GE) named the stock a "top idea," based in part on an upbeat view of GE's cash flow prospects as the industrials sector recovers. Goldman rates GE "buy" with a price target of $16 compared to Monday's close of $12.89. GE rose 1% in premarket trading. | | |
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