US futures bounce after another down week; oil surges
To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://click.response.cnbc.com/?qs=7b509146dd1a173e6e4e06a02075903759ce96fab1b83103dff01921a42109d7b601f1b265d632e9CNBC | Morning Squawk To view this email as a web page, click https://click.response.cnbc.com/?qs=7b509146dd1a173e6e4e06a02075903759ce96fab1b83103dff01921a42109d7b601f1b265d632e9 here. https://click.response.cnbc.com/?qs=7b509146dd1a173e7d39be49ac0a028ded3776a88228165813fe51334b6d1b82b56c1b03d6c24a66 https://click.response.cnbc.com/?qs=7b509146dd1a173e25253d00dc6b707c8109b9a748ea13d8459d20661bd5186186d12860645c2f64 IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=7b509146dd1a173ef75bedc407c83bb174fc62bb2bcf11f0aceade7fbaa8404ada934755ec8878e7 were higher this morning, after two straight weeks of losses for the Dow and S&P 500 and three down weeks in a row for the Nasdaq. A sharp rise in oil prices https://click.response.cnbc.com/?qs=7b509146dd1a173ed1e0ecc90352329569b40ec85efecb58d83a1f3389faa56ee65e1934c9743705 following the replacement of Saudi Arabia's longtime energy minister provided support. (CNBC)Saudi Arabia is hoping to lure ExxonMobil (XOM), China's Sinopec, and BP into buying https://click.response.cnbc.com/?qs=7b509146dd1a173e1a2c48351b5087073497b1260b9f0141e612a4bb00b426289e3f48192d107641 stakes of state-run oil company Aramco , when it sells 5 percent of its equity. Saudi Aramco is expected to be valued at more than $2 trillion. (The Telegraph)Another factor in U.S. crude's roughly 2 percent jump this morning was the https://click.response.cnbc.com/?qs=7b509146dd1a173ed0d80177454fc043e77aebddbce90cb4fa7f93e2dceb0b2312138f086321746f huge wildfire in Canada's oil sand region knocking out over a million barrels in daily production capacity, contributing to a significant tightening of markets over the past weeks. (Reuters)Chinese stocks measured by the Shanghai composite https://click.response.cnbc.com/?qs=7b509146dd1a173ecbc8213957433890cf999723929294906e562b325a184606e7743676c4dbe0aa fell 2.76 percent overnight, as investors digested weaker trade figures there. Friday's lighter U.S. jobs report was being mulled for implications for the next possible interest rate by the Fed. (CNBC)U.S. economic fundamentals are solid and growth this year should pick up to around 2.5 percent, but the central bank's current 'wait and see' approach on rates is appropriate, https://click.response.cnbc.com/?qs=7b509146dd1a173ea038e124808dcf98d6e8adc303c356ea3f3e399f0a9388e536eadd859d3ab3cb asserted Chicago Fed President Charles Evans , speaking in London today. (Reuters) https://click.response.cnbc.com/?qs=7b509146dd1a173e92d4412d06e3b509efd5c363e8562437c423bd57beb652d46af8f8324c9d96ed https://click.response.cnbc.com/?qs=7b509146dd1a173e14fa211861cc48a02c0310c720a72f0a0dcd1a19f0bd18bf1b9e4855d27df8eb https://click.response.cnbc.com/?qs=7b509146dd1a173e0744a6f1a32c4f690914a2b000d35d24c79718032da4fd060fac5815a22161bc LendingClub (LC), the online lending marketplace, said its CEO Renaud Laplanche https://click.response.cnbc.com/?qs=7b509146dd1a173e317717648a89a9b29a6ea4f24ee972143e71a9cac403bb24092b05be88d22ac0 resigned after the board of directors determined he violated the company's business practices. The stock was down about 30 percent in premarket trading. (CNBC) Republican Donald Trump said he expects https://click.response.cnbc.com/?qs=7b509146dd1a173ed7954358d594988a0e05d361b9acd3db2ef0e19848114a5d41aaf4bd005ddc0d taxes on the rich to "go up a little bit" if he becomes president. Meanwhile, Trump is set to meet Thursday with House Speaker Paul Ryan, who last week said he was not ready to support the presumptive nominee. (NBC News) North Carolina's GOP governor, Pat McCrory, https://click.response.cnbc.com/?qs=7b509146dd1a173e4bb8a72912d7cca0d983d466a417cab0d8d352f460e82ffe1609d443343f6830 is expected to respond today to the Justice Department's warning that a new state law limiting the rights of transgender people is illegal. (NY Times) Twitter (TWTR) https://click.response.cnbc.com/?qs=7b509146dd1a173e5b0936f1077bdbc774b54986b6c91da0f0f5043ca13708f68107af9dded8e6cf has barred Dataminr , a service that analyzes tweets to inform users about news events, from providing its information to US intelligence agencies. The agencies had reportedly used Dataminr's service for two years. (WSJ) Facebook (FB) https://click.response.cnbc.com/?qs=7b509146dd1a173e5041eb0c0784de0fe2265947815da9448ead85e49a0a0c2d3566915180262150 won a trademark battle in China , in a case involving a Chinese firm that owned the trademark "face book" for beverages. Last month, Apple (AAPL) lost its battle there over a domestic company using the "iPhone" trademark on leather goods. (Reuters) Ride-sharing services Uber and Lyft https://click.response.cnbc.com/?qs=7b509146dd1a173eb490ed6ad8dc1122bdfb1e68b37cef9b912045bd9cb3e55233c7ae33780ea4ab plan to suspend service indefinitely Monday in Austin after voters in the Texas tech hub failed to adopt a ballot measure that would have allowed them greater self regulation. The dispute could play out in other cities. (USA Today) A dangerous storm system https://click.response.cnbc.com/?qs=7b509146dd1a173e33d2b902e1a20e440be701095f77a26258989d1edd4145b2f10078059022ae75 threatened to spin off tornadoes and dump large hail in its march across the Plains states on Monday, according to forecasters. The same storm system brought severe weather to the region over the weekend. (NBC News) BY THE NUMBERS In addition to Evans, there are two more Fed-related speeches today, including Minneapolis Fed President Neel Kashkari at 1 p.m. ET, and San Francisco Fed President John Williams at 6 p.m. ET.The pace of earnings slows down considerably this week and especially today, with Tyson Foods (TSN) one of the few major companies out this morning. After-the-bell earnings this afternoon include Liberty Global (LBTYA) and Rackspace (RAX).Walt Disney's (DIS) "Captain America: Civil War" https://click.response.cnbc.com/?qs=7b509146dd1a173e7a82c5a60bcb24183cd6aabb27c2418b0433a85519fbaa1c7e6ded93fd8f73f6 topped the weekend box office with a strong $181.8 million in North American ticket sales. The performance, the fifth-best domestic weekend opening of all time, met lofty analyst expectations. STOCKS TO WATCH Berkshire Hathaway (BRKB) missed estimates on both the top and bottom lines. CEO Warren Buffett had warned at last weekend's annual meeting that a slump in shipments at the company's Burlington Northern Santa Fe railroad unit would drag down results.Tribune Publishing (TPUB) has been urged by Oaktree Capital, its second largest shareholder, to negotiate with Gannett (GCI) about a possible takeover. Tribune recently rejected a roughly $400 million overture from Gannett.Oracle (ORCL) and Alphabet's (GOOGL) Google unit are back in court today, in a long-running copyright dispute. Oracle has accused Google of using portions of its Java software without permission.Depomed (DEPO) may once again be a target of Horizon Pharma (HZNP) if Depomed is forced to put itself up for sale, according to the New York Post.Depomed successfully fought off a takeover bid from Horizon late last year.WATERCOOLER There was only one jackpot-winning ticket in Saturday's $429 million Powerball drawing, and it was https://click.response.cnbc.com/?qs=7b509146dd1a173eabca5d736c19c0a8f7a8f8502fab6016b57891a928c2df27db5ce3427cf6376e sold in New Jersey . The ticket with the winning numbers 05-25-26-44-66 and with Powerball number 09 was bought at a 7-Eleven in Trenton. (NBC News) The smallest planet in our solar system makes a https://click.response.cnbc.com/?qs=7b509146dd1a173e53b2aaaf222fda3dfaf61dcfc44b4db9aa5d5481d9c1dead2f3304e35f92bd6b rare trip between Earth and the sun today. Mercury's last pass-by was in 2006. Looking like a small black dot against the sun, the planet's 7.5-hour trek was visible starting around 7 a.m. ET. (USA Today) A sculpture of Adolf Hitler was https://click.response.cnbc.com/?qs=7b509146dd1a173e687d4adaa92217c8947fbd01d5ef7ca664444bca00a9db4333c1176207459c66 sold for a record $17.2 million Sunday at a Christie's auction in New York. "Him," a statue of a kneeling, child-like Hitler, by the Italian artist Maurizio Cattelan. (CNBC) CONTRIBUTORS https://click.response.cnbc.com/?qs=7b509146dd1a173ec7ba3ad968726f25d60bc47b161a78038ebeee36e2c1419b1f6879c5fd07c427 https://click.response.cnbc.com/?qs=7b509146dd1a173ec7ba3ad968726f25d60bc47b161a78038ebeee36e2c1419b1f6879c5fd07c427 Matthew J. 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