Here is what you need to know.
Macron wins the French election. Centrist Emmanuel Macron defeated far-right candidate Marine Le Pen by a margin of 66.06% to 33.94% in Sunday’s presidential election, according to the French Interior Ministry. “I know the divisions in our nation, which led some to vote for extremist parties. I respect them,” Macron said in a victory speech at his campaign headquarters. “I will work to recreate the link between Europe and its peoples, between Europe and citizens.”
The euro slides off 6-month highs. The single currency trades down 0.5% at 1.0946 versus the dollar as sellers have gained the upper hand following Macron’s victory in the French election.
China’s trade surplus with the US widens. China’s trade surplus with the US was $US21.34 billion in April, compared with $US17.74 billion a month earlier, according to data from the General Administration of Customs. Overall China’s trade surplus climbed to $US38.05 billion, wider than the $US35.5 billion that economists were expecting.
China’s Fx reserves jump. China’s foreign exchange reserves gained for a third straight month, climbing by $US21 billion in April to $US3.03 trillion, the State Administration of Foreign Exchange said on its website.
Oil surrenders its early gains. West Texas Intermediate crude oil is unchanged near $US46.25 a barrel after giving up its overnight gains. The energy component climbed by as much as 1.65% late Sunday following chatter Saudi Arabia was going to extend its oil production cut.
Berkshire Hathaway hosts its annual meeting. Warren Buffett and Charlie Munger answered questions for around five hours on Saturday, touching on Jack Bogle, Jeff Bezos, healthcare and more. Check out Business Insider’s full coverage of the event.
The Sohn Investment Conference is happening on Monday. Speakers include Bill Ackman, David Einhorn, Jeff Gundlach, and more.
Stock markets around the world trade mixed. Japan’s Nikkei (+2.3%) hit a 17-month high and France’s CAC (-0.9%) trails in Europe. The S&P 500 is set to open little changed near 2,400.
Earnings reporting remains heavy. AMC Entertainment, Marriott International, Pandora, and Sturm Ruger are among the names reporting after markets close.
2 Fed members speak. St. Louis’ Bullard and Cleveland’s Mester take the mic at 8:35 a.m. and 8:45 a.m. ET, respectively.
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