Reuters/Henry Nicholls
The Household Division, led by the Coldstream Guards rehearse Trooping the Colour for the Colonel's Review ahead of the Queen's birthday parade next week, on Horseguards Parade in central London, Britain.
Trump's trade war could kill hundreds of thousands of jobs. "The tariffs and retaliation would increase U.S. steel employment and non-ferrous metals (primarily aluminum) employment by 26,346 jobs, but cost a net of 495,136 jobs throughout the rest of the economy, for a total net loss of nearly 470,000 jobs," according to a study conducted by The Trade Partnership.
Morgan Stanley studied decades of stock market history and nailed down the best areas that protect against huge portfolio losses. "We think a rotation to more defensive market leadership is coming later this year and into 2019," they said.
Crypto company Ripple is giving $50 million to universities including Princeton and MIT for blockchain research. The new fund highlights the early-stage nature of blockchain and crypto tech, which many companies around the world are trying to use to create commercial ventures.
New York is the most influential city in the world. That's according to the management consultancy firm A.T. Kearney's annual Global Cities Report, which looks at which global cities "are improving in their competitiveness and what factors are driving that success."
Italy's biggest bank reportedly wants to merge with France's Societe Generale to create a $2.5 trillion European giant. Jean-Pierre Mustier, CEO of UniCredit, Italy's biggest bank, is reportedly interested in begining merger talks with French banking giant Societe Generale.
Facebook gave user data to 60 companies including Apple, Amazon, and Samsung. The New York Times reported device makers were able to access data of users' friends, such as relationship status, religion, and political leaning.
Microsoft is closing in on buying GitHub. A deal for the popular developer tools platform, which was last valued at $2 billion in 2015, could be announced as early as Monday. Bloomberg says.
Stock markets around the world are higher. Hong Kong's Hang Seng (+1.66%) led the way in Asia and Spain's IBEX (+1.76%) is out front in Europe. S&P 500 futures are up 0.4%.
Earnings season is winding down. Dell Technologies reports ahead of the opening bell.
US economic data flows. Factory orders and durable goods orders will both be released at 10 a.m. ET. The US 10-year yield is up 2 basis points at 2.92%.