Wall Street is still under pressure as July draws to a close

Despite a 2.5 percent drop over the past two trading days, the Nasdaq's 12.1 percent year-to-date gain is still more than double that of the S&P 500.

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Despite a 2.5 percent drop over the past two trading days, the Nasdaq's 12.1 percent year-to-date gain is still more than double that of the S&P 500. Dow Jones Fut 25,451.06 Current: 25,424.00 Change: 10.00 Impl. Open: -3.06 S&P 500 Fut 2,818.82 Current: 2,819.50 Change: -2.00 Impl. Open: 0.33 NASDAQ 100 Fut 7,296.78 Current: 7,288.75 Change: -12.50 Impl. Open: -18.03 Russell 2000 Mini 1,663.34 Current: 1,658.60 Change: -3.30 Impl. Open: -5.69 Quotes as of 7/30/2018 7:21:53 AM ET BY THE NUMBERS Futures were lower this morning with the S&P 500 and Nasdaq both down for the past two sessions. However, despite a 2.5 percent drop over the past two trading days, the Nasdaq's 12.1 percent year-to-date gain is still more than double that of the S&P 500. (CNBC) The only economic report of the day comes at 10 a.m. ET, when the National Association of Realtors issues its June report on pending home sales. The measure of home sale contracts signed but not yet closed is expected to be unchanged for the month, after falling 0.5 percent in May. (CNBC) Dow component Caterpillar (CAT) is the headliner among this morning's corporate earnings reports, with Bloomin' Brands (BLMN), First Data (FDC), Seagate Technology (STX) and Simon Property (SPG) also set to report. After-the-bell reports today include AK Steel (AKS), Denny's (DENN), Illumina (ILMN), KLA-Tencor (KLAC), Rent-A-Center (RCII) and Unum Group (UNM). (CNBC) •  Why beaten-down Dow stock Caterpillar is still a buy (CNBC)   IN THE NEWS TODAY President Donald Trump called on Congress to enact sweeping immigration reform, including a border wall along the U.S.-Mexico border, and threatened a federal government shutdown if Democrats refused to back his proposals. (CNBC) CNBC has learned that the political network funded by billionaire industrialist Charles Koch, Freedom Partners, is unveiling the latest phase in a multi- million-dollar campaign against import tariffs implemented by Trump. •  Charles Koch, network send GOP a message: We're happy to back Democrats who share our policy goals (CNBC) •  BMW will hike prices on 2 US-manufactured SUVs in China to cope with tariffs (Reuters) Trump told talk show host Sean Hannity that he could imagine the economy growing at 8 or 9 percent — just hours after the Bureau of Economic Analysis showed that GDP rose 4.1 percent in the second quarter of this year. •  New York Times publisher chides Donald Trump over 'fake news' claims (USA Today) Supreme Court Justice Ruth Bader Ginsburg, 85, said in New York she hopes to stay on the Supreme Court for at least five more years, according to CNN. She has already hired law clerks for at least two more terms. The trial of Trump's onetime campaign chairman, Paul Manafort, will begin this week. Manafort's financial crimes trial, the first arising from special counsel Robert Mueller's investigation, will center on his Ukrainian consulting work. (AP) The death toll from a Northern California wildfire rose to five with the discovery of remains believed to be those of a missing elderly woman and her two great-grandchildren. More than 38,000 people remained under evacuation orders Sunday around the city of Redding. (Reuters) The Wall Street Journal reported, citing sources, that American Express' (AXP) foreign-exchange unit for more than a decade recruited business clients with offers of low currency-conversion rates before quietly raising their prices. The board of CBS (CBS) will be discussing misconduct allegations today against CEO Leslie Moonves, according to multiple reports. Those allegations came in a New Yorker magazine article, followed by a statement from Moonves that he regretted making some women uncomfortable by making advances. A system-wide computer outage at American Airlines resulted in a brief nationwide halt Sunday for the company's flights. American's outage ranged across U.S. cities, with customers complaining of delays from Chicago to Minneapolis. (CNBC) Starbucks (SBUX) is partnering with food delivery platform Ele.me for deliveries in China, according to a report in the South China Morning Post. Ele.me is controlled by Chinese online retail giant Alibaba (BABA). STOCKS TO WATCH Walmart (WMT) is exploring the idea of starting a subscription video streaming service, according to a Wall Street Journal report. Planning is still in the early stages and the project has not been given an official go-ahead. MGM Resorts (MGM) signed a joint venture deal with Britain's GVC Holdings to set up an online betting platform in the United States. GVC is among British betting companies seeking to become involved in the U.S. sports betting market following a Supreme Court decision that lifted a sports betting ban. 21st Century Fox (FOXA) and Walt Disney (DIS) shareholders approved the sale of Fox assets to Disney on Friday, but a Bloomberg report this morning suggests that approval in China could be a concern amid escalating trade tensions. The deal has been approved by the Justice Department, but still needs approval from 15 other global regulators, including China. Synchrony Financial (SYF) was downgraded to "equal weight" from "overweight" at Barclays, which cites the loss of the company's credit card deal with Walmart (WMT). Juniper Networks (JNPR) was upgraded to "buy" from "hold" at Deutsche Bank, which points to valuation and improving fundamentals for the maker of networking equipment. Amazon.com (AMZN) is gamed by "click farms" and other methods to boost prospects for certain products, according to the Wall Street Journal. WATERCOOLER Elon Musk's electric car company Tesla briefly released a new product: a $1500 surfboard. The product was available in extremely limited quantities and have all sold out. However, some orders have made their way on eBay. (The Verge) CONTRIBUTORS Berkeley Lovelace Jr. News Associate @BerkeleyJr Peter Schacknow Senior Producer @peterschack Feedback We value your input—use our simple form to let us know what you think. Click here for Real-Time data and top stories on your desktop or mobile device. Send this email to a friend Unsubscribe Advertise More Newsletters  Digital Products © CNBC Inc. All Rights Reserved. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632

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