1. The end of Yahoo: Verizon's $4.5 billion purchase of Yahoo is expected to close Tuesday, ending Yahoo's more than two decades as an independent company. Yahoo and AOL will team up as a new digital company inside Verizon called Oath. Verizon expects to cut as many as 2,100 employees after the combination.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +26.00 | | +11.00 | | +4.60 | | +0.12% | | +0.19% | | +0.19% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -9.83 | | +13.87 | | +9.16 | | 19,898.75 | | 3,153.74 | | 7,521.03 | | -0.05% | | +0.44% | | +0.12% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $46.23 | +0.15 / +0.33% | | | Gold | $1,264.40 | -4.50 / -0.35% | | | 10-yr | 2.21% | +0.01 / +0.64% | | | Euro | $1.12 | +0.00 / +0.02% | | | |
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| News: What you need to know about the markets | | | | | | | The end of Yahoo; Fed meeting; Uber fallout | By Ivana Kottasová
Tuesday, June 13th, 5:03am | | | | 1. The end of Yahoo: Verizon's $4.5 billion purchase of Yahoo is expected to close Tuesday, ending Yahoo's more than two decades as an independent company. | | | | Yahoo and AOL will team up as a new digital company inside Verizon called Oath. Verizon expects to cut as many as 2,100 employees after the combination. | | | | 2. Fed meeting kicks off: The Federal Open Market Committee kicks off a two-day meeting on Tuesday. The central bank is expected to announce an interest rate hike on Wednesday. | | | | It would be the third rate hike in seven months. Higher rates reflect the Fed's confidence in an economy that has recovered well from the Great Recession. | | | | 3. Uber fallout: Uber will announce recommendations Tuesday from an investigation into sexual harassment and workplace culture at the startup. | | | | There have been reports that top officials, including Uber's CTO and one of its board members, might be put under the microscope. | | | | The company announced Monday that Emil Michael, Uber's chief business officer and right-hand man of CEO Travis Kalanick, has left the company. | | | | 4. U.K. government talks: Prime Minister Theresa May is meeting with leaders of the Democratic Unionist Party (DUP) on Tuesday. | | | | May needs the fringe party's support in order to form a government after her party lost its parliamentary majority in last week's election shocker. | | | | May needs to move quickly: Brexit negotiations are set to begin on Monday, although they could be delayed because of the uncertain political environment in the U.K. | | | | The pound climbed 0.3% against the dollar to $1.27 on Tuesday, recovering some of the ground lost in the wake of the election. | | | | The currency has lost 15% of its value since the Brexit referendum, contributing to a rise in prices. Inflation surged to a four-year high of 2.9% in May, according to data published Tuesday. | | | | 5. Global market overview: U.S. stock futures were higher early Tuesday. | | | | European markets opened higher, while Asian markets ended the session with gains. | | | | The Dow Jones industrial average closed 0.2% lower on Monday, while the S&P 500 shed 0.1%. The Nasdaq declined 0.5%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings and economics: H & R Block is set to report earnings after the close. | | | | The U.S. Bureau of Labor Statistics will release its inflation report for May at 8:30 a.m. ET. | | | | OPEC will publish its monthly report. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Tuesday -- Fed meeting begins; Verizon/Yahoo deal set to close; Attorney General Jeff Session's testifies before Senate; Uber releases report into sexual harassment allegations; U.K. inflation data
Wednesday -- Fed interest rates announcement; U.S. inflation data; U.S. retail sales data; Crude inventories report; Marijuana industry conference; U.K. jobs report
Thursday -- U.S. initial jobless claims; Manufacturing output and industrial production data; Bank of England rate decision; Kroger releases earningsFriday -- U.S. housing market data; University of Michigan's consumer sentiment index | | | | | | | |
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