Here is what you need to know.
1. US Treasury Secretary Mnuchin has warned that Facebook’s Libra could be a tool for terrorists, traffickers, and drug smugglers. Bitcoin’s price barely moved on the comments.
2. UK Prime Minister candidate Boris Johnson has condemned Trump’s tweets telling four congresswomen to “‘go back” to where they came from. Johnson said that “if you are the leader of a great multiracial, multicultural society you simply cannot use that kind of language about sending people back to where they came from.”
3. Bayer is rallying after a judge slashed a payout over its cancer-linked Roundup weed killer by $55 million. Bayer’s stock climbed as much as 3% on Tuesday, after the original ruling of $75 million was cut to $20 million.
4. The European Union may be about to get slapped with up to $7 billion in US tariffs over EU aid to Airbus. The tariffs would raise the costs of aircraft and helicopter parts, and also consumable goods like cheese, pasta, olives, and whiskey coming from the EU.
5. Foreigners are snapping up real estate on a tiny Mediterranean island to get EU citizenship. Americans have been buying property in Malta, and it’s highlighting the significance of second passports as status symbols among the wealthy.
6. Australian universities reportedly collaborated with surveillance-app and racial-profiling tech developers linked to China’s human rights abuses in Xinjiang. A documentary broadcast on ABC Australia accused two Australian universities of links to technology used by the Chinese government in its human rights abuses of the Uighur minority in Xinjiang.
7. EU trade gaps with the US and China have widened and it’s putting further strain on relationships between the parties. The EU’s trade surplus in goods with the United States and its deficit with China both increased in the first five months of 2019.
8. Stocks were mixed around the world today. S&P 500 and Nasdaq futures were both flat. In Europe, Germany’s DAX slid (-0.1%) and the Euro Stoxx 50 was flat. In Asia, stocks were mixed on close, with the Nikkei 225 down (-0.7%) and the Shanghai Composite also down (-0.2%), while Hong Kong’s Hang Seng rose (+0.2%).
9. Today is a big day for banking earnings. JP Morgan Chase, Wells Fargo, and Goldman Sachs all have their second-quarter earnings out, as does medical titan Johnson and Johnson.
10. There’s more economic data on the docket. The highlight today is retail sales data.
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Source:: Business Insider