Paramount Global and David Ellison's Skydance Media have agreed to merge.Nasdaq Compositereignited hopes for rate cuts from the Federal Reserve. Investors will be looking ahead to more inflation data this week: The June consumer price index is set to be released Thursday, while the producer price index data will be released Friday.
— CNBC's Pia Singh, Leslie Josephs, Lillian Rizzo, Alex Sherman Rebecca Picciotto and Lora Kolodny; NBC's Julie Tsirkin, Scott Wong, Rebecca Kaplan and Syedah Asghar; and Reuters contributed to this report.
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