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The Dow, S&P 500 and Nasdaq are on track to post their best monthly gains since January

The Nasdaq is leading the way with a 5.6 percent gain despite alternating between gains and losses for the past eight sessions.
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The Nasdaq is leading the way with a 5.6 percent gain despite alternating between gains and losses for the past eight sessions.
Dow Jones Fut
24,667.78
Current: 24,640.00
Change: -29.00
Impl. Open: -21.78
S&P 500 Fut
2,724.01
Current: 2,722.50
Change: -2.00
Impl. Open: -0.76
NASDAQ 100 Fut
6,976.37
Current: 6,987.25
Change: 0.00
Impl. Open: 8.88
Russell 2000 Mini
1,647.99
Current: 1,651.70
Change: 2.50
Impl. Open: 3.41
Quotes as of 5/31/2018 7:37:26 AM ET

BY THE NUMBERS

Futures were flat this morning. The Dow, S&P 500 and Nasdaq remain on track to post their best monthly gains since January, with the Nasdaq leading the way with a 5.6 percent gain despite alternating between gains and losses for the past eight sessions. (CNBC)

Sears Holdings (SHLD) announced today it will be closing 72 more stores in 2018 as its same-store sales continue to decline at a double-digit percentage rate. The retailer also reported worse-than-expected first quarter earnings. Shares of Sears, with a market value of just $346 million, were lower in the premarket, trading at around $3 each. (CNBC)

Retailers are front and center in this morning's earnings reports , with American Eagle (AEO), Dollar General (DG), Dollar Tree (DLTR), Express (EXPR), J. Jill (JILL) and Perry Ellis (PERY) also set to report. After-the-bell reports include the latest numbers from Costco (COST).

Uber CEO Dara Khosrowshahi told CNBC that the ride-hailing company is on track to go public in the second half of 2019. He added that the company is in a "good position" in terms of the company's profile, profitability and margins.

•  CEO: Uber is in talks to add Waymo's self-driving cars to its network (CNBC)

Separately, Berkshire Hathaway (BRKB) had discussions with Uber about a possible investment, according to Warren Buffett. He told CNBC he is a great admirer of Khosrowshahi, but ultimately no investment was made.

It's a busy morning for economic numbers , beginning at 8:30 a.m. ET with the release of personal income, consumer spending and initial jobless claims. At 9:45 a.m. ET, the Chicago Purchasing Managers Index is out, followed by the National Association of Realtors' pending home sales report for April at 10 a.m. ET. (CNBC)



 
IN THE NEWS TODAY

President Donald Trump is preparing to impose a total ban on German luxury carmakers from the U.S. market, German business magazine WirtschaftsWoche reported today, citing several unnamed American and European diplomats.

CNBC has confirmed that the White House is not planning on extending the European Union exemptions from steel and aluminum tariffs. The Wall Street Journal first reported the news, which is expected to be announced today.

Secretary of State Mike Pompeo and a high-ranking North Korean official entered the second day of meetings in New York today. The two are trying to settle nuclear weapons disagreements and set the stage for a summit between their leaders. (Reuters)

•  Deal or no deal, a Trump-Kim summit may have major implications for Asia (CNBC)

AP has learned that former FBI Deputy Director Andrew McCabe drafted a memo on circumstances leading up to the firing of his boss, James Comey. The document has been turned in to special counsel Robert Mueller.

Trump criticized Disney (DIS) CEO Bob Iger for apologizing for Roseanne Barr's racist tweet that led to the cancellation of her hit ABC show, but failing to show remorse about statements made about the president on the network. (CNBC)

•  John Goodman speaks briefly on 'Roseanne' mess (USA Today)
•  Kim Kardashian West goes to the White House to talk pardon with Trump (AP)

The Federal Reserve proposed to revise the Volcker Rule to apply to financial firms based on their trading activity. The Volcker Rule was proposed during the financial crisis in an effort to prevent banks from speculating in markets. (CNBC)

Harvey Weinstein has been indicted on rape and criminal sex act charges involving two women in New York. Manhattan District Attorney Cyrus R. Vance Jr. said the indictment brings Weinstein "another step closer to accountability." (AP)

Data from the American Medical Association showed that doctors are increasingly using prescription drug monitoring programs in an effort to cut down on inappropriate opioid prescriptions in the United States. (Axios)

Ripple CEO Brad Garlinghouse told CNBC that Bitcoin's influence over cryptocurrency prices could end soon as markets start to acknowledge the differences between assets. "It's early, over time you'll see a more rational market and behaviors that reflect that," he said.

•  Bitcoin could be extinct by 2118: Yale's Robert Shiller (CNBC)

STOCKS TO WATCH

PVH Corp. (PVH) came in 11 cents above estimates with adjusted quarterly profit of $2.36 per share, with the apparel maker's revenue slightly above forecasts. However, PVH did issue weaker-than-expected full-year sales guidance, even as it raised its earnings outlook.

Box (BOX) lost seven cents per share for its latest quarter, one cent less than Wall Street had anticipated. The cloud storage company's revenue beat forecasts, and the company also forecast a smaller-than-expected loss for the current quarter and full year even as it increases spending to attract more customers.

Guess (GES) matched analyst forecasts with a reported loss of 23 cents per share for its latest quarter, with revenue exceeding estimates. The fashion and accessories retailer also gave a strong revenue outlook, but weaker-than-expected earnings guidance.

Toyota Motor (TM) reported a 22 percent jump in vehicle shipments to the U.S. from Japan in April, largely on the strength of the popular Rav4 SUV. The Wall Street Journal noted that Toyota stands to lose the most among major automakers if higher tariffs are imposed on imported cars and trucks.

Symantec (SYMC) said it did not expect to be able to file its annual report in a timely manner, due to an ongoing internal accounting probe being conducted at the cybersecurity company. Symantec does not believe the probe will have a material effect on past financial statements.

WATERCOOLER

New York City residents took to the streets at sunset yesterday to witness and take photos of "Manhattanhenge," a phenomenon dubbed by astrophysicist Neil deGrasse Tyson where the sun aligns perfectly with skyscrapers. (CBS News)

CONTRIBUTORS

News Associate
@BerkeleyJr
Senior Producer
@peterschack


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