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Democrats debate ‘who is this economy really working for?’: Morning Brief

Thursday, June 27, 2019

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WHAT TO WATCH

Nike (NKE) will take centerstage Thursday.

The shoe giant will release quarterly financial results after the market close on Thursday. Nike is expected to report adjusted earnings of 66 cents per share on $10.16 billion of revenue. In addition, the options market is implying a 5% move in either direction when Nike reports.

Other companies scheduled to report Thursday include ConAgra (CAG) and Walgreens Boots Alliance (WBA) ahead of the opening bell.

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TOP NEWS

Democratic presidential candidate former Housing and Urban Development Secretary Julian Castro, third from left, answers a question, during a Democratic primary debate hosted by NBC News at the Adrienne Arsht Center for the Performing Art, Thursday, June 27, 2019, in Miami. (AP Photo/Wilfredo Lee)

Democrats debate ‘who is this economy really working for?’: Democratic presidential candidates took the stage for their first televised debate Wednesday night in Miami, and for part of the two hours, focused on the millions of Americans who have not been enriched by stock market highs and an economy not boosting all. Right off the bat, the 10 candidates weighed in one of the central issues in the U.S. – income inequality; 10% of the wealthiest households in the U.S. own 60% of the wealth. They also revealed their disagreements over how the health care system should be set up. [Yahoo Finance]

China’s Xi to present Trump with trade terms: WSJ: Chinese President Xi Jinping plans to present U.S. President Donald Trump with a set of terms the United States should meet before Beijing is ready to settle their trade dispute, the Wall Street Journal reported on Thursday. [Reuters]

Zuckerberg: The government shouldn’t ‘take a big hammer’ to Facebook: Facebook (FB) CEO Mark Zuckerberg is pushing back against calls for a company breakup. During a conversation with Harvard Law School professor Cass Sunstein at the Aspen Ideas Festival on Wednesday, the CEO said that dismantling the social media behemoth wouldn't solve the company’s problems — including election interference, privacy matters, or misinformation. [Yahoo Finance]

Also: Zuckerberg defends Facebook's decision to keep up Pelosi ‘deepfake’ video [Yahoo Finance]

New software glitch found in Boeing's troubled 737 Max jet: A new software problem has been found in the troubled Boeing (BA) 737 Max that could push the plane's nose down automatically, and fixing the flaw is almost certain to further delay the plane's return to flying after two deadly crashes. [AP]

Huawei personnel worked with China’s military: Several Huawei Technologies Co. employees have collaborated on research projects with Chinese armed forces personnel, indicating closer ties to the country’s military than previously acknowledged by the smartphone and networking powerhouse. [Bloomberg[

Also: Huawei warns US patent curbs would hurt global tech [Associated Press]

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