Here are five things you must know for Tuesday, Nov. 21:
The economic calendar in the U.S. on Tuesday includes Existing Home Sales for October at 10 a.m. ET.
Federal Reserve Chair Janet Yellen is scheduled to speak at New York University at 6 p.m. Yellen submitted her resignation to Donald Trump on Monday, Nov. 20, saying she would step down from the Federal Reserve board when her successor is sworn in as Fed chairman.
Trump earlier this month tapped Jerome Powell to become the next Fed chief.Yellen's Exit From Fed Gives Trump a Bigger Chance to 'Stack the Deck'
European stocks traded higher on Tuesday as investors shrugged off the ongoing political crisis in Germany.
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"This defies logic and it is unprecedented," Stephenson said of the lawsuit on Monday, Nov. 20.
The government's case "stretches the very reach of antitrust law beyond the breaking point," added Stephenson, who has previously lauded the Trump administration for its policies on tax reform and its general deregulatory stance.
Donald Trump clearly loathes Time Warner's CNN, however. On the subject of whether White House politics entered into the government's decision, Stephenson said, "Frankly, I don't know." He added that "nobody should be surprised that the question (is) coming up." AT&T won't forfeit control of CNN if it completes the acquisition of Time Warner, the CEO said.
Trump warned more than a year ago that he would do all he could to prevent AT&T from acquiring Time Warner in a $85.4 billion acquisition that would combine the country's largest pay-TV provider with the owner of HBO, Warner Bros. film studio and CNN.
AT&T shares fell 0.7% in premarket trading on Tuesday, while Time Warner shares were inactive in premarket trading.
3. -- Tencent Holdings Ltd. (TCEHY) hit another major milestone on Tuesday when it became the first Asia-listed technology company to reach a market valuation of $500 billion, besting rival Alibaba Holding Ltd. (BABA) and topping Facebook Inc. (FB) in the emerging battle for global social media dominance.
Tencent shares closed up 2.38% in Hong Kong at HK$430 each, extending their year-to-date gain past 125% and giving the company a market capitalization of just more than HK$4.08 billion ($522 billion), edging past Facebook's $519 billion and Alibaba's $484.5 billion.
The stock has risen more than 11% since China's internet gaming giant -- and significant Snap Inc. (SNAP) shareholder -- posted much stronger-than-expected third-quarter earnings on Thursday Nov. 16, and pledged to stoke investment into its lucrative online content machine.Tencent Beats Alibaba in Race to $500 Billion, Leaving Facebook in Wake
4. -- CBS Corp. (CBS) suspended veteran journalist Charlie Rose as it investigates sexual harassment allegations made by several women against the co-host of its flagship "CBS This Morning" program.
PBS and Bloomberg also said Monday they would suspend the distribution of the "Charlie Rose" show after the allegations came to light, with Bloomberg saying in a statement it was "deeply disturbed to learn of these allegations and are immediately suspending the show from airing on Bloomberg TV."
The Washington Post reported that eight women told the newspaper that the long-time television host had made unwanted sexual approaches, including "lewd phone calls, walking around naked in their presence, or groping their breasts, buttocks or genital areas."
The women, three who spoke on the record and five anonymously, worked for Rose at the "Charlie Rose" show from the late 1990s to 2011.
In a statement, Rose apologized for his "inappropriate behavior" and said he was "greatly embarrassed."CBS Suspends Charlie Rose Amid Sexual Harassment Claims
5. -- Shares of Urban Outfitters Inc. (URBN) jumped in after-hours trading on Monday after the clothing and lifestyle posted third-quarter earnings and revenue that topped analysts' forecasts.
The stock was rising more than 3% in premarket trading on Tuesday.
The parent company of Free People and Anthropologie saw sales in the quarter rise 3.5% to $893 million, a record for the retailer. Same-store sales in the period rose 1%.
This story has been updated from 6:04 a.m. ET to include earnings from Lowe's.
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