1. Starbucks' big day: Starbucks is closing around 8,000 of its company-owned US locations Tuesday for racial bias training. About 175,000 employees will participate. The company announced the plan soon after two black men were arrested in a Philadelphia Starbucks while waiting for a friend. The incident sparked a public outcry and prompted an apology from CEO Kevin Johnson.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -158.00 | | -28.50 | | -17.00 | | -0.64% | | -0.41% | | -0.63% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -122.66 | | -14.62 | | -105.09 | | 22,358.43 | | 3,120.46 | | 7,625.19 | | -0.55% | | -0.47% | | -1.36% | | | |
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| | | Biggest Winners | | Salesforce.com Inc | +0.44% | | | | Welltower Inc | +0.23% | | | | Ford Motor Co | +0.09% | | | | NetApp Inc | +0.06% | | | Biggest Losers | | TechnipFMC PLC | -3.46% | | | | Halliburton Co | -3.21% | | | | AES Corp | -2.01% | | | | Citigroup Inc | -2.00% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Starbucks training; Italy drama; Oil slides | | By Ivana Kottasová | | | | 1. Starbucks' big day: Starbucks is closing around 8,000 of its company-owned US locations Tuesday for racial bias training. About 175,000 employees will participate. | | | | The company announced the plan soon after two black men were arrested in a Philadelphia Starbucks while waiting for a friend. The incident sparked a public outcry and prompted an apology from CEO Kevin Johnson. | | | | The training is one step in the company's reform effort. A new policy allows Starbucks customers to spend time in stores and use the bathroom without making a purchase is another. | | | | 2. Italy drama: Political uncertainty caused the benchmark Italian stock index to drop another 3% on Tuesday. | | | | President Sergio Mattarella on Sunday refused to accept the nomination of a euroskeptic finance minister, prompting the anti-establishment Five Star Movement and far-right League party to give up trying to form an administration. | | | | The country's uncertain future has unsettled investors. The gap between Italian and German bonds, which indicates how confident investors are about Italy's ability to repay its debts, has widened further. | | | | "New elections are now more likely ... and the election itself [is] in danger of turning into a de facto referendum on Euro membership," said Kit Juckes, a strategist at Societe Generale. | | | | The euro dropped 0.8% against the US dollar to $1.15. | | | | 3. Oil prices slide: US crude futures dropped 2% on Tuesday, the latest in a series of losses. Oil was trading at $66.50 per barrel. | | | | Prices have plunged after Saudi Arabia indicated that OPEC and Russia could pump more oil in order to make up for lost supply from Venezuela and Iran. | | | | OPEC producers and Russia are due to meet in Vienna on June 22 to discuss easing self-imposed supply caps, which have been in place since 2017. | | | | The price of Brent crude, the international benchmark for oil, was $75.30 on Tuesday following several days of losses. | | | | 4. Pret sale: The owner of Krispy Kreme and Keurig has purchased UK sandwich chain Pret A Manger. | | | | Investment company JAB acquired Pret from private equity owner Bridgepoint and minority shareholders. The price was not disclosed. | | | | 5. Global market overview: US stock futures indicated a lower open for markets following Memorial Day weekend. | | | | Most major European and Asian markets were lower. | | | | The Dow Jones industrial average and the S&P 500 shed 0.2% on Friday, while the Nasdaq added 0.1%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings and economics: HP and Salesforce are set to release earnings after the close. | | | | The latest reading of the Conference Board's Consumer Confidence Index will be published at 10 a.m. ET. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Tuesday — Consumer Confidence Index for May
Wednesday — Amazon, Exxon Mobil, Twitter, Walmart annual shareholder meetings; Fed discusses Volcker Rule
Thursday — Facebook annual shareholder meeting
Friday — US jobs report for May | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $67.03 | -0.85 / -1.25% | | | Gold | $1,302.80 | -0.90 / -0.07% | | | 10-yr | 2.93% | 0.00 / 0.00% | | | Euro | $1.16 | -0.01 / -0.61% | | | |
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