Markets react to Trump-Kim summit; AT&T ruling; Brexit votes

1. Trump-Kim summit: Markets were calm after President Donald Trump and Kim Jong Un concluded their ...

Posted: Jun 12, 2018 11:26 AM
Updated: Jun 12, 2018 11:26 AM

1. Trump-Kim summit: Markets were calm after President Donald Trump and Kim Jong Un concluded their historic summit in Singapore.

US stock futures were steady.

European markets posted small gains in early trading. Most Asian markets closed higher, while South Korea's KOSPI index dipped by 0.1%.

Nearly five hours of unprecedented and surreal talks between Trump and Kim culminated with declarations of a new friendship but just vague pledges of nuclear disarmament.

On Monday, the Dow Jones industrial average, S&P 500 and Nasdaq closed with small gains.

2. AT&T decision time: A US federal judge is expected to rule on the fate of AT&T's $85 billion bid to acquire Time Warner at 4:00 p.m. ET.

The Justice Department sued to block the deal. It argues that the combination would give AT&T the power to charge its competitors more for Time Warner's content, or to block the content entirely from the likes of Comcast and Verizon.

Time Warner owns HBO, Warner Bros. and the Turner networks, including CNN.

AT&T and Time Warner say they need to join forces to compete with new competitors such as Netflix and Amazon. AT&T has argued that prices would not necessarily go up, and that it would have no reason to keep its content from competitors.

If the deal is approved, reports have been swirling that Comcast could then formally make a takeover offer for 21st Century Fox.

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3. Brexit votes: Traders will be closely monitoring the British pound as UK lawmakers vote on the government's Brexit plans.

The pound could "be a Brexit punchbag ahead of a potential 48 hours of Commons debate and voting on the Brexit Withdrawal Bill," warned analysts at Accendo Markets.

The United Kingdom is scheduled to exit the European Union at the end of March 2019. Time is running out to sort out all the legalities and details, and businesses are clamoring for clarity.

The pound is currently trading around $1.34, up slightly overnight.

4. Earnings and economics: Casey's General and Lands' End will release earnings before the open. H&R Block will follow after the close.

The US Bureau of Labor Statistics will release its May inflation report at 8:30 a.m.

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5. Coming this week:

Tuesday - H&R Block earnings; AT&T-Time Warner decision
Wednesday - Federal Reserve interest rate decision
Thursday - US retail sales for May
Friday - Deadline for the White House to publish Chinese tariff list covering $50 billion worth of products

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 250869

Reported Deaths: 5481
CountyCasesDeaths
DeSoto17010171
Hinds16091318
Harrison13250193
Rankin10629208
Jackson10216182
Lee8759141
Madison8186161
Jones6222109
Forrest5917118
Lauderdale5808180
Lowndes5309111
Lafayette491192
Lamar480465
Washington4770123
Bolivar3955106
Oktibbeha390380
Panola365076
Pontotoc361152
Monroe3521104
Warren344597
Union341458
Marshall339165
Neshoba3357152
Pearl River323295
Leflore2992105
Lincoln295685
Sunflower280469
Tate269560
Alcorn262653
Itawamba261159
Hancock260458
Pike259977
Scott244745
Prentiss244052
Yazoo242654
Tippah239749
Copiah239149
Simpson233967
Leake229564
Coahoma228554
Grenada217070
Covington210471
Marion208371
Adams203270
Winston199464
Wayne198730
George197938
Attala193158
Newton189142
Chickasaw182944
Tishomingo182159
Holmes168167
Jasper167735
Clay158233
Stone141520
Tallahatchie139234
Clarke137460
Calhoun135121
Smith119423
Yalobusha116134
Walthall111736
Noxubee110222
Greene109129
Montgomery109134
Carroll104121
Lawrence102117
Perry100531
Amite96825
Webster91924
Tunica86021
Claiborne85525
Jefferson Davis84025
Humphreys82624
Benton81023
Kemper76620
Quitman6838
Franklin65815
Choctaw60013
Wilkinson58325
Jefferson53419
Sharkey42417
Issaquena1596
Unassigned00

Alabama Coronavirus Cases

Cases: 420681

Reported Deaths: 6119
CountyCasesDeaths
Jefferson61755921
Mobile30058548
Madison26852186
Tuscaloosa20652266
Montgomery18876305
Shelby18421114
Baldwin16176182
Lee12393101
Morgan12175113
Etowah11687168
Calhoun11078200
Marshall10158107
Houston8556148
Cullman7999105
Limestone796274
Elmore7783101
DeKalb767197
Lauderdale752883
St. Clair7502120
Talladega6145108
Walker5880174
Jackson578841
Colbert529873
Blount529283
Autauga515455
Coffee438156
Dale394381
Franklin365248
Chilton335365
Covington326968
Russell326810
Escambia316142
Dallas302896
Chambers281869
Clarke279633
Tallapoosa2607107
Pike247629
Marion244650
Lawrence242547
Winston225535
Bibb214447
Geneva199535
Marengo197829
Pickens196231
Hale175442
Barbour172336
Butler168458
Fayette167126
Cherokee160030
Henry152721
Monroe145017
Randolph138835
Washington137026
Clay126145
Crenshaw118644
Lamar117519
Cleburne117223
Macon114335
Lowndes109535
Wilcox102621
Bullock98728
Perry96919
Conecuh94220
Sumter88826
Greene75723
Coosa60515
Choctaw51224
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