Trump and Russia; Buffett dumps Fox; Microsoft summit

premarket Tuesday
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1. Trump shared classified info: The White House is facing another crisis after news reports revealed that President Donald Trump shared highly classified information with the Russian foreign minister during a meeting last week.

Societe Generale strategist Kit Juckes said the resulting "furore" was affecting markets. He said the news, first reported by The Washington Post, had prevented bond yields from rising and helped push the euro to above $1.10 against the dollar.

It wasn't just the euro: The dollar weakened against all major currencies early Tuesday.

2. Buffett dumps Fox: A company filing showed that Warren Buffett's Berkshire Hathaway (BRKA) has sold its stake in 21st Century Fox (FOX), the parent company of Fox News.

Buffett made some other major adjustments to his portfolio in the most recent quarter, doubling his investment in Apple (AAPL) and dumping much of his stake in IBM (IBM).

3. Microsoft CEO Summit: The 21st annual Microsoft (MSFT)CEO Summit kicks off on Tuesday in Redmond, Washington.

Company executives are likely to face questions about the WannaCry ransomware attack that swept across the globe beginning on Friday. The attacks have exploited computers running outdated versions of Microsoft's Windows operating system.

It remains unclear who is responsible for the attack -- some security researchers have found links between the code used in the assault and previous attacks thought to be orchestrated by North Korea.

4. Retail earnings: Home Depot (HD) will release its results before the opening bell. Analysts expect the results to show that America's recovering housing market is continuing to boost Home Depot. Company shares have soared 17% this year.

Staples (SPLS), Dick's Sporting Goods (DKS) and TJX (TJX), the owner of TJ Maxx, will also release earnings before the open.

Urban Outfitters (URBN) will follow after the close.

Americans are spending more money than ever shopping, but sales at physical stores are declining.

5. Global market overview: U.S. stock futures were flat early on Tuesday.

European markets opened mostly lower. Asian markets ended the session mixed.

Toshiba (TOSBF) plunged 12.5% in Tokyo after the company failed to release audited results. The Japanese company projected billions of dollars in losses on Monday and its stock remains in danger of being de-listed.

The Dow Jones industrial average closed 0.4% higher on Monday, while the Nasdaq added 0.5%. The S&P 500 advanced 0.5% to hit a new all-time high.

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6. Earnings and economics: Chinese social media company Weibo (WB) will report earnings ahead of the bell. Jack in the Box (JACK) and Red Robin Gourmet (RRGB) will follow after the close.

The U.S. Census Bureau will release data on housing starts and building permits for April at 8:30 a.m. ET.

The U.S. Federal Reserve will release data on industrial production at 9:15 a.m.

The SALT Conference kicks off in Las Vegas on Tuesday. Former Fed chairman Ben Bernanke, Alphabet (GOOGL) executive chairman Eric Schmidt and former British Prime Minister David Cameron will deliver speeches on Wednesday.

New data show that U.K. inflation accelerated to 2.7% from a year earlier in April. Consumers are facing dramatic price increases and a much weaker pound as the country prepares to exit the European Union.

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7. Coming this week:

Tuesday -- U.S. housing market data; SALT conference kicks off; U.K. inflation data; Italian GDP; Staples, Weibo, Urban Outfitters, Manchester United report earnings
Wednesday -- Target, American Eagle earnings; U.S. crude oil inventories report; U.K. unemployment data; Eurozone inflation report
Thursday -- Alibaba, Wal-Mart and Gap first quarter earnings; Japan GDP data; U.K. retail sales data
Friday -- Foot Locker earnings