1. Coffee deal: Nestle agreed Monday to pay $7.2 billion to sell and distribute Starbucks' packaged products around the world. Nestle already has a significant presence in the coffee business with well-known brands like Nescafe and Nespresso. It's now adding Starbucks coffee and tea products to the list.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +48.00 | | +35.25 | | +6.75 | | +0.20% | | +0.52% | | +0.25% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -5.62 | | +45.61 | | +64.45 | | 22,467.16 | | 3,136.64 | | 7,567.14 | | -0.03% | | +1.48% | | +0.86% | | | |
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| | | Biggest Winners | | Starbucks Corp | +2.84% | | | | Under Armour Inc | +1.67% | | | | Mondelez International Inc | +1.54% | | | | Deere & Co | +1.38% | | | Biggest Losers | | International Flavors & Fragrances Inc | -7.18% | | | | Dentsply Sirona Inc | -4.28% | | | | TechnipFMC PLC | -1.02% | | | | General Mills Inc | -0.87% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Starbucks-Nestle deal; Oil tops $70; Air France crisis | By Ivana Kottasová
Monday, May 7th, 4:40am | | | | 1. Coffee deal: Nestle agreed Monday to pay $7.2 billion to sell and distribute Starbucks' packaged products around the world. | | | | Nestle already has a significant presence in the coffee business with well-known brands like Nescafe and Nespresso. It's now adding Starbucks coffee and tea products to the list. | | | | The agreement only covers Starbucks' packaged goods sold outside the US company's stores. It doesn't include Starbucks' ready-to-drink coffee, tea or juices. | | | | 2. Oil surge: US crude oil futures jumped almost 1% to top $70 per barrel for the first time since 2014. | | | | Investors are worried that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed the country to export more crude. | | | | The return of sanctions could disrupt global oil supplies. | | | | "It's difficult to estimate the impact on Iranian oil exports. However, prices may remain elevated and even reach $80 in the short run," said Hussein Sayed, chief market strategist at FXTM. | | | | US oil prices have gained more than 16% since the start of the year. Brent oil, the global benchmark, is up around 13%. | | | | 3. Air France crisis: Shares in Air France-KLM dropped over 13% after the carrier's CEO quit in a dispute over worker pay. | | | | Jean-Marc Janaillac said on Friday he would resign after failing to reach a deal with employees who have been striking for two weeks. | | | | The airline said it expects to operate only 85% of its flights on Monday and Tuesday because of ongoing strikes. | | | | French economy minister Bruno Le Maire told French TV station BFMTV on Sunday that the airline could "disappear" if the crisis isn't resolved. | | | | The French government owns 14.3% of the airline. Delta and China Eastern each own 8.8% stakes. | | | | 4. Global market overview: US stock futures were higher. | | | | European markets were mixed, with exchanges in the United Kingdom and Ireland closed for a holiday. | | | | Stocks in Asia ended the session with gains. | | | | The Dow Jones industrial average shot up 1.4% on Friday, while the S&P 500 added 1.3% and the Nasdaq gained 1.7%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Gannett, Scripps, and Tyson Foods will release earnings before the open. AMC Entertainment and Zillow will follow after the close. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Monday — AMC earnings
Tuesday — Disney, Sturm Ruger earnings; JOLTS
Wednesday — 21st Century Fox earnings; PPI
Thursday — CPI
Friday — University of Michigan's Consumer Sentiment survey | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $70.42 | +0.70 / +1.00% | | | Gold | $1,315.30 | +0.60 / +0.05% | | | 10-yr | 2.94% | 0.00 / 0.00% | | | Euro | $1.19 | -0.00 / -0.22% | | | |
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