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| The Dow has fallen for seven sessions in a row, while the Nasdaq and Russell 2000 are coming off record high closes. |
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| Quotes as of 6/21/2018 7:42:21 AM ET | |||||||||||||||||||||||||||||||||||||||||||
CNBC MORNING SQUAWK
BACKSTORY - JUNE 20, 2018
| BY THE NUMBERS |
Futures were higher this morning, making it likely that at least some of Tuesday'slosses will be erased at the open. The Dow is riding a six-day losing streak, its longest since an eight-day skid in March 2017, and the S&P 500 has fallen for three straight days and four of the past five. (CNBC)
General Electric (GE) is being removed from the Dow after being included in the 30-stock index for 111 years. It will be replaced by drugstore chain operator Walgreens Boots Alliance (WBA) before the open on June 26. GE shares were 3 percent in premarket. (CNBC)
Investors who pay close attention to central bank policymakers have an all-star panel to monitor this morning, with Fed Chairman Jerome Powell, ECB President Mario Draghi, and Bank of Japan Governor Haruhiko Kuroda all appearing at an ECB central bank forum in Portugal. (CNBC)
Recreational vehicle maker Winnebago (WGO) is one of the few companies issuing quarterly earnings this morning, while Smith & Wesson parent American Outdoor Brands (AOBC), chipmaker Micron Technology (MU), and office furniture maker Steelcase (SCS) will be out with their earnings after today's closing bell. (CNBC)
Starbucks (SBUX) announced it would close 150 U.S. stores and said comparable sales growth would fall below Wall Street forecasts. Starbucks sales growth has been impacted by growing competition from McDonald's (MCD), Dunkin' Brands (DNKN) and others. Following that news, the stock was downgraded to "market perform" from "outperform" at Telsey Advisory Group, and to "equal-weight" from "overweight" at Morgan Stanley. (CNBC)
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