Target earnings, Canada tariffs, American Airlines' seatback screens and more in Morning Squawk
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This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Wednesday. Shares of Moderna soared as much as 100% before the bell after the experimental personalized cancer vaccine it developed with Merck showed positive results in its first late-stage trial. Stock futures are little changed this morning. The market is coming off a down day. Here are five key things investors need to know to start the trading day: Bond yields continued spiking around the globe yesterday, putting investors on edge. The 30-year U.S. Treasury yield touched another record, while comparable offerings in Germany and France rose to levels not seen in more than a decade. Here's what to know: Tariff refunds are continuing to lift companies' bottom lines. Target said this morning that the refunds gave its net earnings a $752 million boost in the second quarter which, combined with strong sales, led the retailer to hike its outlook for the full year. Lowe's also credited tariff refunds for an 11 cent increase in its earnings per share, but the company gave a tepid outlook for the year amid "pressure" in DIY spending. The home improvement retailer also missed analysts' revenue expectations for the second quarter, sending the stock down more than 3% in premarket trading. For those keeping score: Home Depot shares finished yesterday's session slightly lower...
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