Police said the attacker died at the scene of the incident, which took place Monday night at the end of the concert in central Manchester, about 160 miles northwest of London. The attacker used a self-detonating explosive in the 21,000-seat capacity arena, police said, and noted that inquiries at this stage were focused on whether he acted alone or with the assistance of others.
The Trump administration will send the budget proposal to Congress on Tuesday, outlining its wish list for how the federal government will spend its money next year. The plan, titled "A New Foundation for American Greatness," will include $3.6 trillion in spending reductions by slashing funds for entitlements and discretionary programs while increasing allocations for items including law enforcement, defense and school choice. About $600 billion in cuts would be made to Medicaid over the next decade, while cuts to food stamps would amount to $193 billion over 10 years.
3. -- Nokia (NOK - Get Report) shares rose the most in nearly three years Tuesday after the company said it settled an intellectual dispute with Apple (AAPL - Get Report) and simultaneously signed a multi-year patent license agreement withe the iPhone maker.
Nokia shares rose 6.8% in trading in Paris, the biggest single-day increase since July 2014.
Revenue in the quarter was $1.36 billion, which also beat estimates. The stock rose 2.6% in premarket trading.
5. -- The economic calendar in the U.S. on Tuesday includes the flash composite Purchasing Managers' Index for May at 9:45 a.m. EDT and New Home Sales for April at 10 a.m.
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