1. Calm before the storm: Markets are relatively peaceful. That could be because of what looms on Thursday. Investors are preparing for a deluge of major events over the next 48 hours. U.K. voters will be going to the polls on Thursday in a crucial general election that promises to shape the country's departure from the EU. The European Central Bank will also meet on Thursday.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +6.00 | | +6.75 | | +1.25 | | +0.03% | | +0.12% | | +0.05% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +4.72 | | +38.20 | | +14.52 | | 19,984.62 | | 3,140.32 | | 7,539.47 | | +0.02% | | +1.23% | | +0.19% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $47.99 | -0.20 / -0.42% | | | Gold | $1,295.20 | -2.30 / -0.18% | | | 10-yr | 2.15% | -0.04 / -1.60% | | | Euro | $1.12 | -0.01 / -0.57% | | | |
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| News: What you need to know about the markets | | | | | | | Calm before the storm; €1 bank rescue; Australia's streak | By Ivana Kottasová
Wednesday, June 7th, 5:06am | | | | 1. Calm before the storm: Markets are relatively peaceful. That could be because of what looms on Thursday. | | | | Investors are preparing for a deluge of major events over the next 48 hours. U.K. voters will be going to the polls on Thursday in a crucial general election that promises to shape the country's departure from the EU. The European Central Bank will also meet on Thursday. | | | | In the U.S., former FBI Director James Comey will testify in public on Thursday about the investigation into potential coordination between the Trump campaign and Russian officials. | | | | Investors are bracing ... | | | | 2. Trump and taxes: But back to Wednesday. President Trump's promise of massive tax cuts will be in focus today. | | | | The House budget committee is scheduled to hold a 10:00 a.m. ET hearing on the economic benefits of Trump's "pro-growth policies." | | | | Trump campaigned on promises to slash taxes, cut regulation and increase infrastructure spending. But little progress has been made so far. | | | | 3. €1 bank rescue: Spain's Santander has acquired troubled rival Banco Popular for €1 ($1.13) after Europe's regulators declared the bank "likely to fail." | | | | The purchase will make Santander the country's biggest bank in terms of both lending and deposits, serving over 17 million customers. | | | | Santander said it will raise about €7 billion ($7.9 billion) to fund the rescue deal. | | | | 4. Australia's growth streak: Australia has posted yet another quarter of economic growth, bringing its impressive run without a recession to nearly 26 years. | | | | Growth has been slowing, however, while weak wages and the rising cost of living are squeezing real incomes. | | | | 5. Global market overview: U.S. stock futures were flat. | | | | European markets opened higher, while Asian markets ended the session mixed. | | | | Oil prices dropped almost 1% to trade at $47.70 per barrel. | | | | The Dow Jones industrial average closed 0.2% lower on Tuesday. The S&P 500 and the Nasdaq both lost 0.3%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings and economics: Jack Daniel's owner Brown-Forman and At Home Group will post quarterly earnings before the opening bell. | | | | Results are on tap after the close from Tailored Brands, the owner of Men's Wearhouse and Jos A. Bank. | | | | The Mortgage Bankers Association will release weekly mortgage application data at 7:00 a.m. | | | | The weekly U.S. crude inventories report is set to be released at 10:30 a.m. | | | | Consumer credit data are expected at 3:00 p.m. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday - House budget hearing on Trump's pro-growth policies; House debates Dodd-Frank reforms overhaul; U.S. crude inventories data; Australia Q1 GDP data; China foreign exchange reserves data
Thursday - Yahoo shareholders vote on Verizon deal; U.S. treasury Secretary Steven Mnuchin meets with House members over debt ceiling; Former FBI director Jim Comey to testify before Senate; Dell earnings; U.K. election; China trade data
Friday - Tim Cook delivers MIT commencement speech | | | | | | | |
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