10 Things You Need To Know Before The Opening Bell

Mariah Carey

Photo: David Shankbone

Good morning. Here’s what you need to know:

  • Asian markets are up in overnight trading, and European indices are continuing to surge. The euro remains low, and gold prices have fallen off slightly.
  • The ECB announced the current extent of their bond buying program, which currently stands at €16.5 billion ($21 billion) in purchases. This is at the low end of what analysts were predicting. See everyone who’s been saved by the euro bailout >
  • As confidence in the eurozone weakens, investors are pouring into the U.S. dollar and other U.S. assets in an effort dubbed “reverse diversification.” U.S. asset acquisition, in dollars, bonds, and stocks, totaled $140.5 billion in March alone.
  • Inflation in the UK went past expectations in April to reach 3.7% in moves the government calls temporary. March’s inflation numbers were at 3.4% and the government is meant to maintain inflation at 2%. The pound is falling against the dollar on the news.
  • Iran has come to an agreement, brokered by rising powers Brazil and Turkey, to swap “low-enriched uranium” for “nuclear fuel” with Turkey in an effort to avoid UN sanctions. At this point, however, it remains likely sanctions will still be sought against the Iranian regime. Check out the oil leaders that have the U.S. on its knees >
  • The Thai government is currently in talks with the protest movement in Bangkok trying to sort out a cease fire. The situation in Bangkok remains tense, with at least 37 people having been killed thus far. See photos of the violent situation in Bangkok >
  • A massive car bomb in Afghanistan has killed at least 5 U.S. troops and injured 50 more in the capital city of Kabul. At least 5 more are also dead, some of which may also be U.S. or NATO troops. 
  • Home Depot beat analyst estimates in Q1 with $0.45 per share profits, $0.05 higher than expected. This was somewhat of a surprise after industry rival Lowe’s produced disappointing results.
  • Law enforcement agencies in the U.S. and Europe are set to target Google after it declared it had recorded data communications individuals sent over wi-fi networks. The case refers specifically to the company’s mapping of unsecured wi-fi hotspots when setting up its Google Map service.
  • 4 key primaries occur in the U.S. today, which may provide a glimpse into the mid-term elections. Many of the incumbent candidates are facing more radical opposition, with support for the party’s base significant for those individuals.
  • Bonus: Mariah Carey had to put out a stage fire last night at a performance in Egypt, which started beneath her feet prior to the show.
  • For up to the minute market coverage, go to The Money Game >


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