Google's punishment; Elon Musk apologizes; Morgan Stanley earnings

1. Google's woes in Europe: The European Commission is expected to announce a major antitrust fine a...

Posted: Jul 18, 2018 11:30 PM

1. Google's woes in Europe: The European Commission is expected to announce a major antitrust fine against Google over allegations that it pushed its apps on smartphone users and thwarted competitors.

The accusations have been under investigation since 2015. An announcement is expected around 7 a.m. ET.

EU regulators have taken a much more adversarial approach to big tech companies than their US counterparts, especially when it comes to competition, data protection and tax issues.

2. Elon Musk apologizes: Tesla boss Elon Musk has apologized for calling one of the men involved in the Thai cave rescue mission a "pedo," or pedophile.

Musk faced an intense backlash over the unfounded claim against Vernon Unsworth, an expert caver who participated in the rescue mission that saved 12 boys and their soccer coach from a flooded cave in Thailand.

The executive said on Twitter that while Unsworth provoked him, "his actions against me do not justify my actions against him, and for that I apologize to Mr. Unsworth and to the companies I represent as leader. The fault is mine and mine alone."

Gene Munster, a top tech analyst and the managing partner at Loup Ventures, wrote an open letter to Musk this week urging him to rein in his outbursts and erratic behavior so he might "regain investor confidence."

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3. Market movers -- EasyJet, Texas Instruments: Shares in EasyJet increased 3% in London as investors cheered the latest quarterly update from the low-cost carrier.

Shares in Texas Instruments could take a hit at the open after its new CEO unexpectedly stepped down.

Texas Instruments said CEO Brian Crutcher resigned because of personal behavior that violated the company's code of conduct. Crutcher, a 22-year veteran of the company, just took over as CEO last month.

"The violations are related to personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting," the company said in a statement Tuesday.

4. Global market overview: US stock futures were holding steady.

European markets were mixed in early trading.

Asian markets were more volatile, with the Hang Seng dropping 1.2%. The Nikkei closed with a 0.4% gain.

The Dow Jones industrial average gained 0.2% on Tuesday. The S&P 500 increased 0.4% and the Nasdaq jumped 0.6% to hit a new record high.

The British pound is trading close to its lowest level of the year amid deep concerns over Brexit and the government's strategy for the divorce.

5. Earnings and economics: Morgan Stanley is releasing earnings before the open.

Alcoa, American Express, eBay, IBM and Kinder Morgan will follow after the close.

Federal Reserve chairman Jerome Powell continues his testimony on Capitol Hill, in front of the House Financial Services Committee.

The US central bank will release its Beige Book at 2 p.m. ET, giving investors and economists deeper insight into the health of the US economy.

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6. Coming this week:

Wednesday - American Express and eBay earnings
Thursday - Domino's and Microsoft earnings
Friday - GE earnings

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 149940

Reported Deaths: 3779
CountyCasesDeaths
DeSoto10097104
Hinds9984199
Harrison7116110
Jackson6360119
Rankin5588103
Lee509195
Madison4799106
Forrest383186
Jones357688
Lauderdale3496147
Lafayette326051
Washington3179107
Lamar291550
Oktibbeha245462
Bolivar241384
Lowndes237364
Panola222350
Neshoba2206118
Marshall217250
Leflore205590
Pontotoc199928
Monroe198177
Sunflower191655
Lincoln190865
Warren176857
Tate169851
Union167325
Copiah164140
Pike162658
Yazoo156039
Scott154829
Itawamba152935
Pearl River152167
Alcorn151328
Coahoma150543
Simpson148353
Prentiss146230
Adams141950
Grenada140945
Leake134944
Holmes130861
George125524
Tippah125230
Covington123439
Winston122224
Hancock121139
Wayne117923
Marion116646
Attala113034
Tishomingo109442
Chickasaw107632
Newton105629
Tallahatchie97027
Clay91327
Clarke90553
Jasper82822
Stone77014
Walthall76928
Calhoun75513
Montgomery74525
Carroll72415
Lawrence71814
Smith71316
Yalobusha71327
Noxubee71017
Perry67026
Tunica61019
Greene60322
Claiborne58616
Jefferson Davis57017
Amite54014
Humphreys53619
Benton49318
Quitman4927
Webster44314
Kemper43618
Wilkinson39822
Jefferson35211
Franklin3395
Choctaw3357
Sharkey30917
Issaquena1164
Unassigned00

Alabama Coronavirus Cases

Cases: 244993

Reported Deaths: 3572
CountyCasesDeaths
Jefferson32314500
Mobile19859361
Madison13223148
Tuscaloosa13049154
Montgomery12342236
Shelby1031577
Baldwin873398
Lee775766
Morgan662650
Calhoun6301119
Etowah627666
Marshall627255
Houston525638
DeKalb485536
Cullman439442
Limestone425145
St. Clair419555
Lauderdale407854
Elmore406864
Walker3657111
Talladega351454
Jackson320423
Colbert311942
Blount292240
Autauga273542
Franklin252633
Coffee245415
Dale232654
Dallas226232
Chilton223438
Russell22193
Covington218934
Escambia198331
Chambers176850
Tallapoosa176391
Pike158614
Clarke158419
Marion140236
Winston133023
Lawrence127936
Pickens123518
Geneva12218
Marengo121524
Bibb117917
Barbour117310
Butler116541
Randolph102921
Cherokee102224
Hale97031
Clay91924
Fayette91616
Washington91219
Henry8546
Lowndes79929
Monroe78911
Cleburne77214
Macon73722
Crenshaw71130
Bullock69619
Perry6886
Conecuh68414
Lamar6798
Wilcox63518
Sumter58122
Greene42618
Choctaw42213
Coosa3444
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