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Kamis, 29 Juni 2017

10 things you need to know before the opening bell

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June 29, 2017

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Here is what you need to know.

All big banks pass the Fed's second round of stress tests. All 34 big US banks passed the second round of the Federal Reserve's annual stress test, and only Capital One needs to resubmit its plan. Numerous banks proceeded to announce dividend payouts and share-buyback programs.

Warren Buffett is on the verge of becoming Bank of America's biggest shareholder. Buffett could trade in his preferred shares for common shares after the bank announced a 60% hike in its dividend to $0.48 a share, Reuters says.

Staples is being acquired by a private-equity firm. Sycamore Partners has agreed to pay $6.9 billion, or $10.25 a share in cash, for the office-supplies retailer.

Blue Apron prices its IPO at $10. That's at the lower end of the updated range of $10 to $11 the company gave Wednesday morning, and it's well below the initial range of $15 to $17.

Tintri pulls its IPO. The storage startup pulled its Thursday initial public offering, through which it had sought to raise about $109 million with shares pricing at $10.50 to $12.50 apiece.

Elon Musk has started digging a tunnel under Los Angeles. Musk's tunnel company, called The Boring Company, has begun digging in the Space X parking lot. It will need permits to dig beyond the property line.

The Trump administration announces sweeping changes to airline security. The new measures affect all flights into the US and will include enhanced overall passenger screening, heightened screening of personal electronic devices, more thorough screening at checkpoints, along with the increased use of security technology, canines, and preclearance locations.

Stock markets around the world trade mixed. Hong Kong's Hang Seng (+1.1%) led in Asia, and France's CAC (-0.74%) lags in Europe. The S&P 500 is set to open little changed near 2,441.

Earnings reporting picks up a bit. Constellation Brands and Walgreens Boot Alliance report ahead of the opening bell, while Micron and Nike release their quarterly results after markets close.

US economic data flows. GDP, core PCE, and jobless claims will all be released at 8:30 a.m. ET. The US 10-year yield is up by 1 basis point at 2.24%.

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