Here is what you need to know.
Trump is “looking into” breaking up the banks. President Donald Trump told Bloomberg that he’s looking into bringing back the “old system” that separated consumer lending and investment banking.
The World Bank is pushing a terrifying prediction for jobs in developing countries. Speaking at the Milken Institute Global Conference in Los Angeles, World Bank President Jim Young Kim suggested two-thirds of jobs in developing countries could be lost to automation.
China’s factories slow down. The Caixin Manufacturing PMI fell to 50.3 in April, making for its lowest reading in seven months. While the April number was a drop from March’s 51.2, it was still above 50.0, signalling the sector is still expanding.
Greece has a new deal. Greece agreed to another round of pension cuts in exchange for the unlocking of more bailout cash, the Associated Press says.
Eurozone manufacturing expands at its fastest pace since 2011. Markit eurozone Manufacturing PMI printed 56.7 in April as output, new orders, and employment all grew at their fastest pace in six years.
UBS settles toxic mortgage claims. The Swiss bank paid $US445 million to settle claims it sold toxic mortgages to two US credit unions who later went bust, Reuters says.
Twitter is loading up on live content.The social media company announced more than 12 new partners who will stream live content on its platform this year. Partners include Bloomberg, The Players Club, and PGA Tour.
Stock markets around the world are higher. Japan’s Nikkei (+0.7%) led in Asia and Britain’s FTSE (+0.5%) is out front in Europe. The S&P 500 is set to open higher by 0.1% near 2,391.
Earnings reporting is heavy. Aetna, Coach, CVS, and Mastercard are among the companies reporting ahead of the opening bell while Apple and Mondelez highlight the names releasing their quarterly results after markets close.
US economic data is light. Automakers will release their US sales throughout the day. The US 10-year yield is up 1 basis point at 2.33%.
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