Here are five things you must know for Monday, June 25:
1. -- Stocks Tumble as Trump Lobs More Trade Threats
U.S. stock futures fell on Monday, June 25, and global stocks were tumbling as investors reacted to the latest threats on tariffs from Donald Trump that could escalate the brewing trade war between Washington and its economic allies.
Contracts tied to the Dow Jones Industrial Average
Trump tweeted over the weekend that the U.S. was preparing "more than reciprocity" to trade partners that impose what he called "artificial" barriers to American companies. The tweets followed his vow on Friday, June 22, to slap fresh tariffs on European auto imports, a move that sent shares in German carmakers sharply lower and has investors increasingly convinced that "tit-for-tat" levies will be imposed on markets around the world, slowing global economic growth and hammering stock market valuations.
2. -- New Home Sales, Carnival Earnings Expected
The U.S. economic calendar on Monday includes New Home Sales for May at 10 a.m. ET.
Earnings are expected Monday from Carnival Corp. (CCL) .
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3. -- Trump to Bar China Companies From Investing in U.S. Tech
Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing, The Wall Street Journal reported, citing people familiar with the administration's plans.
The twin initiatives, set to be announced by the end of the week, are designed to prevent China from moving ahead with plans to become a global leader in 10 broad areas of technology, including information technology, aerospace, electric vehicles and biotechnology, the Journal noted.
The Treasury Department is crafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in what the White House calls "industrially significant technology."
Meanwhile, a study found that seven major American tech companies -- HP Inc. (HPQ) , International Business Machines Corp. (IBM) , Dell Inc., Cisco Systems Inc. (CSCO) , Unisys Corp. (UIS) , Microsoft Corp. (MSFT) and Intel Corp. (INTC) -- source more than half of their products and components from China.
4. -- GE Reportedly Nears Deal to Sell Engines Unit
General Electric Co. (GE) is nearing a deal to sell a unit that makes large industrial engines to private-equity firm Advent International for $3 billion or more, people familiar with the matter told The Wall Street Journal.
A deal could be announced on Monday. Advent appears to have beaten out Cummins Inc. (CMI) in an auction for the businesses, the Journal reported, citing the people.
The assets being sold are GE's so-called distributed-power business, which makes Jenbacher and Waukesha gas engines.
5. -- 'Jurassic World: Fallen Kingdom' Has $150 Million Opening
"Jurassic World: Fallen Kingdom" opened with $150 million in ticket sales in U.S. and Canada theaters over the weekend, according to studio estimates. The 2015 debut of "Jurassic World" took in a record-breaking $208.8 million over its opening weekend.
"Jurassic World: Fallen Kingdom" already has tallied hundreds of millions in overseas ticket sales over the past two weeks. Its worldwide total already stands at $711.5 million, according to the Associated Press.