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.

Confirmed Cases: 30674

Reported Deaths: 1107
CountyConfirmedDeaths
Hinds248039
DeSoto157216
Madison129634
Jones112049
Neshoba98571
Rankin91612
Lauderdale90879
Harrison88610
Forrest86042
Scott77015
Jackson61616
Copiah60216
Washington5789
Leake57519
Holmes55141
Lee54718
Wayne54213
Oktibbeha54126
Warren51118
Yazoo5056
Leflore48651
Lowndes48312
Grenada4795
Lamar4567
Lincoln45434
Pike43112
Monroe39930
Lafayette3894
Sunflower3737
Attala35923
Covington3475
Panola3456
Newton3399
Bolivar33414
Adams31018
Simpson3103
Pontotoc2836
Tate27810
Chickasaw27618
Marion27511
Claiborne27010
Jasper2616
Noxubee2618
Winston2596
Pearl River25432
Clay24910
Marshall2263
Smith22011
Union2079
Clarke20624
Walthall2004
Coahoma1996
Kemper17814
Lawrence1741
Yalobusha1717
Carroll16411
Humphreys1479
Tallahatchie1364
Itawamba1358
Montgomery1312
Tippah13011
Calhoun1294
Hancock12613
Webster12510
Jefferson Davis1114
Prentiss1083
Jefferson1073
Greene1058
Tunica1003
Wilkinson949
Amite892
George863
Tishomingo781
Quitman760
Choctaw744
Alcorn682
Perry664
Stone641
Franklin452
Sharkey350
Benton340
Issaquena91
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 41362

Reported Deaths: 983
CountyConfirmedDeaths
Jefferson4944152
Montgomery4021103
Mobile4005134
Tuscaloosa222642
Marshall170210
Lee135937
Madison13597
Shelby122723
Morgan10715
Walker91424
Elmore90314
Franklin88914
Dallas8799
Baldwin8469
Etowah72713
DeKalb7075
Butler62428
Chambers62427
Tallapoosa58869
Autauga58312
Russell5450
Unassigned50323
Lauderdale4896
Limestone4810
Houston4794
Lowndes46721
Cullman4394
Pike4205
Colbert3916
Coffee3732
Bullock36810
St. Clair3662
Covington3547
Barbour3472
Escambia3376
Calhoun3325
Hale31021
Talladega3037
Marengo30211
Wilcox2908
Sumter28412
Dale2820
Clarke2736
Jackson2682
Winston2543
Chilton2392
Monroe2342
Blount2301
Pickens2276
Marion21913
Conecuh2047
Randolph2009
Choctaw19512
Bibb1871
Macon1859
Greene1838
Perry1701
Henry1323
Crenshaw1253
Lawrence1070
Washington1057
Cherokee857
Geneva790
Lamar751
Fayette681
Clay642
Coosa581
Cleburne361
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