1. Samsung boss faces jail time: Prosecutors in South Korea's "trial of the century" have demanded a 12-year jail term for the country's highest profile business leader, Lee Jae-yong. Lee, the de-facto leader of Samsung, is facing charges of bribery and perjury. He is accused of playing a key role in the corruption scandal that led to the ouster of former President Park Geun-hye.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +31.00 | | +6.25 | | +2.25 | | +0.14% | | +0.11% | | +0.09% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +103.56 | | +17.38 | | +5.79 | | 20,055.89 | | 3,279.46 | | 7,517.50 | | +0.52% | | +0.53% | | +0.08% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $48.86 | -0.72 / -1.45% | | | Gold | $1,262.80 | -1.80 / -0.14% | | | 10-yr | 2.27% | +0.04 / +1.75% | | | Euro | $1.18 | +0.00 / +0.14% | | | |
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| News: What you need to know about the markets | | | | | | | Samsung trial; Brexit hits consumers; Marriott earnings | By Ivana Kottasová
Monday, August 7th, 4:58am | | | | 1. Samsung boss faces jail time: Prosecutors in South Korea's "trial of the century" have demanded a 12-year jail term for the country's highest profile business leader, Lee Jae-yong. | | | | Lee, the de-facto leader of Samsung, is facing charges of bribery and perjury. He is accused of playing a key role in the corruption scandal that led to the ouster of former President Park Geun-hye. | | | | Samsung shares trading in Seoul were down 0.3% on Monday. | | | | 2. Consumers hit by Brexit: U.K. consumer spending fell for a third consecutive month in July, according to a new report by Markit for Visa. | | | | Spending on transportation, communication, footwear and clothing took the biggest hit. | | | | British consumers are feeling the squeeze of higher prices and uncertainty over the country's exit from the European Union. | | | | Britain's impending departure the EU caused a steep drop in the value of the pound, leading to higher import prices and rising inflation. | | | | The pound was trading at $1.30 early Monday morning, 13% lower than the day of the Brexit referendum in June 2016. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Global market overview: U.S. stock futures were higher on Monday, pointing to another day of gains on Wall Street. | | | | CNNMoney's Fear & Greed Index is firmly in greed territory. | | | | The Dow Jones industrial average closed up 0.3% on Friday, while the S&P 500 and the Nasdaq both gained 0.2%. | | | | European markets were mixed early on Monday, while Asian markets ended the session mostly higher. | | | | 4. Earnings and economics: Marriott is set to release earnings after the close on Monday. The stock is up 27% so far this year. | | | | CBS is also scheduled to report after the closing bell. | | | | German industrial production fell 1.1% in June compared to the previous month, reversing almost all of the gains made in May. Still, the German economy is expected to grow strongly this year. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Monday -- Marriott and CBS earnings
Tuesday -- Disney, CVS, Michael Kors, Ralph Lauren report earnings; Chinese and German foreign trade data
Wednesday -- American crude inventories data; U.S. productivity report; Mylan, 21st Century Fox earnings; Chinese inflation report
Thursday -- Snap, Blue Apron, NVIDIA, Macy's, Nordstrom, News Corp, and Kohl's report earnings
Friday -- U.S. inflation report; J. C. Penney earnings | | | | | | | |
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