More trade tensions are in the making on reports that Justin Trudeau will mark Canada's 151st birthday on Sunday by imposing tariffs on about C$19.4B worth of U.S. imports and providing aid to trade hit industries. The proposed tariffs will target metals, whiskies, mustard, toilet paper, washing machines, motorboats and maple syrup, in response to the American levies on Canadian steel and aluminum that went into effect a month ago. (SA)
The debut of Walgreens into the Dow Jones Industrial Average this week marks the worst performance of any new entrant in the past decade. Shares are down more than 11% in the past three days - trimming more than 44 points off the index - after the company replaced GE. Walgreens also tumbled along with other drug retailers yesterday as Amazon made its entry into the industry by acquiring online pharmacy PillPack. (FT)
It's official! Twenty-First Century Fox shareholders will vote on Walt Disney's (NYSE:DIS) revised $71B bid for Fox's entertainment assets on July 27. The date effectively sets a deadline for Comcast to come back with a higher bid. Disney has already won DOJ approval for the deal on condition it sells 22 of Fox's regional sports networks. (WSJ)
S&P 500 futures are up 10 and NASDAQ futures are up 26. The MSCI international index is up 2/5 of a %.
Oil is up $.02 at $73.47 a barrel.
Gold is up $1 at $1252 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.