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Here is what you need to know. 4 GOP senators have come out against the Senate healthcare bill. Republican Sens. Rand Paul, Ted Cruz, Mike Lee, and Ron Johnson said in a joint statement on Thursday that they would not support the Senate healthcare bill in its current form because it "does not repeal Obamacare." Those four no votes would be enough to kill the bill if the rest of the Senate voted along party lines. The biggest US banks pass the first round of stress tests. The 34 biggest US banks all would have enough capital to withstand an extreme recession, according to the results of the first round of the Federal Reserve's annual stress tests. "This year's results show that, even during a severe recession, our large banks would remain well capitalized," Fed Gov. Jerome Powell said. Fed rate-hike odds are climbing. The market sees a 27.3% chance that the Federal Reserve will hike interest rates in September or sooner and a 50.1% chance that the next rate hike happens this year, according to Bloomberg's World Interest Rate Probability. On Thursday, those odds were 16% and 40.2%, respectively. The Brexit vote happened one year ago. Britain's stock market, the FTSE 100, has gained nearly 17% since the UK's June 23, 2016, vote to leave the European Union. Qatar has 10 days to meet 13 demands from the Gulf states. Qatar is being ordered to reduce diplomatic ties with Iran, sever ties with terrorist organizations, and shut down Al Jazeera and affiliated networks, among other things, before the Gulf states will lift their blockade on the country. JPMorgan says Walmart could swoop in on Whole Foods. "There are compelling reasons for it to do so (adding new, generally wealthier customers; acquiring a strong brand; generating synergies and efficiencies; et al), in addition to keeping Amazon out of its wheelhouse," according to JPMorgan analysts Ken Goldman, Chris Horvers, and Doug Anmuth. Bed Bath & Beyond plunges after missing across the board. Shares of the retailer plunged by more than 11% in after-hours trading on Thursday after earnings, revenue, and same-store sales all fell short of Wall Street expectations. Stock markets around the world trade mixed. China's Shanghai Composite (+0.3%) led the gains in Asia, and Germany's DAX (-0.7%) lags in Europe. The S&P 500 is set to open little changed near 2,435. Blackberry reports ahead of the opening bell. Wall Street is expecting a loss of $0.08 a share on revenue of $265.42 million. Adjusted earnings per share are expected to be zero. US economic data flows. Markit PMIs and new-home sales will be released at 9:45 a.m. ET and 10 a.m. ET, respectively. The US 10-year yield is higher by 1 basis point at 2.16%. |
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