Business News

Mr. Market is saying OPA as he gets out of bed! US stocks are lower this morning, with investors looking to follow European markets down, as talks between Greece and its creditors collapsed once again this weekend. (CNBC)

The Fed holds its two-day June meeting starting tomorrow, but it's not expected to hike interest rates this time around. Investors will be looking for clues on whether liftoff could come in September. (CNBC)

Wholesale prices in the U.S. rose in May as the biggest jump in fuel costs in at least five years swamped muted advances in other categories. The 0.5% increase in the producer-price index followed a 0.4% decline the prior month.  Costs have dropped 1.1% over the past 12 months. (Bloomberg)

Bigger paychecks are giving American consumers reason to believe again. The University of Michigan’s consumer sentiment index for June rose to 94.6, from a reading of 90.7 last month. Households were the most upbeat about their wage prospects in seven years. (Bloomberg)

Colt Defense, the storied firearms maker, has filed for a Chapter 11 bankruptcy reorganization-hoping the process will clear the way for the sale of its business operations in the U.S and Canada. (USA Today)

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