Here is what you need to know.
Theresa May secures a majority. UK Prime Minister Theresa May’s Conservative Party has secured a 1 billion pound agreement with the Democratic Unionist Party, giving it a two-seat majority in the House of Commons.
Italy is spending 17 billion euros to wind down 2 failing banks. Regional lenders Popolare di Vicenza and Veneto Banca are being wound down and their good assets will be transferred to the nation’s biggest retail bank, Intesa Sanpaolo.
German business confidence is booming. The ifo Business Climate survey hit a record 115.1 in June.
The US dollar is falling out of favour. Data released on Friday by the US Commodity Futures Trading Commission showed net long speculative positioning in the greenback fell for a fifth consecutive week, leaving it at the lowest levels since September.
Gold flash-crashes. The precious metal tumbled from $US1,254 an ounce to $US1,236 in a matter of seconds on Monday morning. Currently, it trades down 1.1%, or $US14, at $US1,242.
Ethereum flash-crash victims are getting their money back. People who lost money as a result of Ethereum’s flash crash on the GDAX exchange will be made whole, according to a blog post from the company. Last Wednesday, Ethereum crashed from $US296 to $US0.10 in a matter of minutes before recouping its losses.
Facebook is in talks to produce original tv-quality shows. The social media giant is hoping to launch its own original programming by the end of the summer, according to Joe Flint and Deepa Seetharaman of the Wall Street Journal.
Under Armour’s CEO explains his comments on Trump. “It was unfortunate that my words got characterised in a way that were meant to be divisive in some way, shape, or form,” Under Armour CEO Kevin Plank told Willie Geist on NBC’s Sunday Today Show. Plank’s comments were a follow up to a statement he made in February in which he said a pro-business president was a “real asset for the country.”
Stock markets around the world are higher. China’s Shanghai Composite (+0.87%) led in Asia and France’s CAC (+0.97%) is out front in Europe. The S&P 500 is set to open up 0.11% near 2,441.
US economic data flows. Durable goods orders will be released at 8:30 a.m. ET and Dallas Fed manufacturing will cross the wires at 10:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.15%.
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