Looking for direction … AT&T-Time Warner ruling expected … Consumer prices rising
NEW YORK (AP) – Stocks are little changed so far this morning after the conclusion President Trump’s meeting with North Korean leader Kim Jong Un. Technology companies and banks rose early, with Twitter climbing 5.5 percent and Comerica gaining 1.3 percent.
WASHINGTON (AP) – A federal judge is expected to rule on whether AT&T can buy Time Warner in a major antitrust trial. The Trump Justice Department sued to block the $85 billion merger, arguing that it would hurt competition in pay TV and cost consumers more to stream TV and movies.
WASHINGTON (AP) – U.S. consumer prices rose 0.2 percent in May, with surging gasoline costs driving much of the increase. The Labor Department says the consumer price index was up 2.8 percent from the same time last year, putting inflation on its fastest annual pace since February 2012. But core prices – which exclude the volatile food and energy categories – have risen a milder 2.2 percent over the past 12 months. The slower growth in core prices likely means that the Federal Reserve will raise interest rates only gradually.
DUBAI, United Arab Emirates (AP) – Middle Eastern online retailer Noon.com has partnered with eBay to give shoppers in Saudi Arabia and the United Arab Emirates a way to more easily buy products online from the U.S. and other parts of the world. Noon.com says customers will be able to make select eBay orders on its website starting in the second half of year with access to products not otherwise readily available in the region.
LUXEMBOURG (AP) – The European Union’s top court has defended French fashion designer Christian Louboutin’s claim to trademark red soled high-heel shoes. The European Court of Justice ruled today that Van Haren, a Dutch company that sold similar shoes, had infringed the trade mark. The court said that it did not matter that its shoes were different in shape, because the trademark “sought solely to protect that application of a colour to a specific part of that product.”