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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.

Confirmed Cases: 16041

Reported Deaths: 767
CountyConfirmedDeaths
Hinds103526
Lauderdale74568
Madison74525
Neshoba70742
Jones66331
Scott66112
Forrest59439
DeSoto5538
Leake44712
Rankin4468
Holmes43928
Copiah3154
Jackson30813
Attala30318
Yazoo2864
Newton2824
Leflore27334
Lincoln27029
Monroe26525
Harrison2637
Oktibbeha25314
Lamar2485
Lowndes2309
Wayne2242
Pearl River21131
Pike20411
Adams20015
Noxubee1916
Washington1917
Warren18110
Covington1732
Jasper1654
Lee1657
Bolivar16511
Clarke15419
Smith15311
Kemper14711
Lafayette1414
Chickasaw13714
Coahoma1274
Winston1211
Marion1179
Carroll11711
Clay1154
Claiborne1122
Lawrence1061
Simpson1020
Grenada993
Yalobusha966
Tate951
Hancock9112
Itawamba897
Wilkinson859
Union857
Sunflower853
Montgomery851
Panola843
Marshall813
Jefferson Davis803
Tippah7611
Webster683
Calhoun674
Amite641
Walthall610
Humphreys597
Tunica563
Prentiss563
Perry513
Choctaw482
Pontotoc433
Jefferson431
Tishomingo340
Quitman340
Stone310
Franklin292
Tallahatchie291
George261
Greene221
Alcorn181
Benton140
Sharkey70
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 18474

Reported Deaths: 651
CountyConfirmedDeaths
Mobile2283118
Jefferson1882103
Montgomery180243
Tuscaloosa81616
Marshall7059
Franklin5768
Lee55234
Shelby52220
Tallapoosa43166
Butler41618
Walker3782
Elmore3739
Chambers35826
Madison3444
Morgan2971
Baldwin2929
Unassigned2922
Dallas2823
Etowah26112
DeKalb2563
Lowndes25512
Autauga2395
Coffee2381
Sumter2267
Houston2235
Bullock2136
Pike2080
Colbert1872
Hale1789
Russell1770
Barbour1751
Marengo1746
Lauderdale1672
Calhoun1653
Choctaw15310
Wilcox1527
Cullman1501
Clarke1482
St. Clair1311
Randolph1287
Marion12411
Dale1230
Pickens1215
Talladega1175
Limestone1080
Chilton1041
Greene954
Winston910
Macon864
Jackson833
Henry812
Covington811
Crenshaw783
Bibb761
Escambia743
Washington726
Blount631
Lawrence510
Monroe442
Geneva430
Perry420
Conecuh411
Coosa401
Cherokee383
Clay282
Lamar260
Fayette160
Cleburne151
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