Updated from 6:08 a.m. ET on Friday, June 16
 
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Here are five things you must know for Friday, June 16:
 
1. -- U.S. stock futures were higher on Friday, June 16, ahead of data on the U.S. housing market and consumer sentiment, and as tech shares showed signs of a slight rebound after a recent battering. 
 
European stocks posted solid gains amid a rebound in energy companies and solid gains for automakers, while Asian shares finished the session mixed after the Bank of Japan kept its key interest rate at minus 0.1%.
 
Oil prices in the U.S. early Friday rose 0.56% to $44.71 a barrel. Crude declined on Thursday, June 15, for a second day as worries lingered over ballooning global production and growing domestic supplies.
 
U.S. stocks on Thursday declined as the tech selloff stretched into another day. The S&P 500 fell 0.22%, the Dow Jones Industrial Average slipped 0.07%, and the Nasdaq tumbled 0.47%. 
 
The FAANG stocks -- Facebook Inc. ( FB) , Apple Inc. ( AAPL) , Amazon Inc. ( AMZN) , Netflix Inc. ( NFLX) , and Alphabet Inc. ( GOOGL)  (formerly Google) -- closed Thursday's session with losses.
 
Apple, Facebook, and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, FB or GOOGL? Learn more now.

2. -- The economic calendar in the U.S. on Friday includes Housing Starts for May at 8:30 a.m. ET, Consumer Sentiment for June at 10 a.m., and the weekly Baker Hughes Rig Count at 1 p.m.

Dallas Federal Reserve Bank President Robert Kaplan will be the first Fed official to make the rounds since the Fed raised interest rates on Wednesday for the third time in seven months. Kaplan will address a Rotary Club meeting in Dallas at 12:45 p.m. ET. 

3. -- Alphabet Inc.'s Google could be facing a fine of more than €1 billion ($1.12 billion) from the European Commission over the company's search practices, the Financial Times reported.
 
EU officials are expected to say in the coming weeks that the company abused its search market dominance to build its Google Shopping service, the FT reported. The fine could could top the record penalty of €1 billion ($1.45 billion) handed out to chipmaker Intel in 2009, according to two people familiar with the case, the FT said.
 
The European Commission and Google declined to comment for the newspaper.
 
The European Commission's decision is expected to be the first of three antitrust rulings the EC will make on Google's practices in Europe. The investigation of Google's practices in Europe has been going on for seven years.
 
Alphabet shares were rising 0.2% in premarket trading on Friday.
 

 
4. -- The U.S. Justice Department approved the $130 billion merger of Dow Chemical Co. ( DOW) and DuPont Co. ( DD)  after a lengthy review, requiring some divestitures but not the extreme split-up a high-profile activist investor was seeking. 

Specifically, the DOJ required DuPont to divest some of its crop protection portfolio. It also required Dow to sell its global ethylene acrylic acid copolymers and ionomers business, which supplies products used in food and specialty packaging, adhesives, thermoplastic powder coatings, metal pipe coatings, wood plastic composites and molded durable and sporting goods. 

The approval was the last major hurdle the two companies needed to overcome before they could move on to complet their blockbuster deal, which was announced in 2015. Once the deal closes, which is expected in August, DuPont and Dow intend to split into three separate companies focused on agriculture, material science, and specialty products.

Activist investor Dan Loeb of Third Point LLC launched an insurgency campaign in May arguing that the post-closing plan for Dow and DuPont to split into three businesses may not be enough.

Dow Chemical is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells DOW? Learn more now.

5. -- Nestle SA ( NSRGY) shares jumped on Friday after the world's biggest food company said it may sell its U.S. confectionery business.
 
The Swiss consumer goods giant said Thursday its would explore strategic options for the business, which could be worth as much as $3 billion, according to some analysts, with Jefferies putting the price tag between $1.5 billion and $2 billion. 

Nestle's U.S. confectionery business had sales of around Sfr900 million ($923 million) in 2016. Brands includes Butterfinger, Baby Ruth and Oh Henry! candies. The business represents just 3% of Nestle's U.S. sales.

Nestle said the review is expected to be completed by the end of the year and doesn't include its Toll House baking products, "a strategic growth brand which the company will continue to develop in the U.S. market."

The stock was rising about 2.8% in trading in Switzerland

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