Midday Report: Wall Street Reacts to Trump Jr.-Russia Meeting; PepsiCo Beats

Stocks made a sudden turn lower on increasing evidence of ties between Russia and the Trump campaign. Donald Trump Jr. released emails confirming his knowledge that a meeting with a Russian attorney was part of their government's support of Trump. The number of job openings in May declined as hiring activity picked up. The Job Openings and Labor Turnover Survey for May showed openings at 5.66 million, while hiring increased by its largest amount since March 2004. PepsiCo (PEP) - Get Report bested profit and sales estimates over its second quarter. Organic revenue increased just over 3%, driven by growth in its Frito-Lay North America and North America beverages segments. Rent-A-Center (RCII) - Get Report rallied after reporting that it had received, and rejected, an unsolicited buyout offer. Its board of directors said the bid "significantly undervalues" the company.