Here is what you need to know.
Oil hits its lowest level in over 2 months. West Texas Intermediate crude oil has touched $US63.59 a barrel, its lowest since April 10, as the OPEC cartel of oil producers mulls a production hike of up to 600,000 barrels a day, Bloomberg says.
Wall Street experts are crying foul on an overlooked yet dangerous signal that a market meltdown is near.Wall Street pros have begun sounding the alarm on the exorbitant amount of leverage being used in the US market.
Wall Streeters share the best parts of the market to own over the next year. Speaking at the UBS CIO Global Forum in New York on Thursday, a handful of Wall Streeters shared their top conviction ideas for the next six to 12 months.
Bitcoin futures could be hurting bitcoin’s price.Tom Lee, the cofounder of the research firm Fundstrat, says bitcoin could be vulnerable to manipulation because of the way its futures contracts are settled.
Facebook quietly made a huge concession to shareholders as it aims to avoid another data disaster. The social-media giant has beefed up its audit committee to help monitor its social impact, privacy safeguards, and cybersecurity risk.
Google takes a small stake in the Chinese retail giant JD.com. Google has made a $US550 million investment as part of a strategic partnership in the Chinese e-commerce behemoth JD.com, giving it a stake of less than 1%, Reuters says.
Audi’s CEO has been arrested. The Munich prosecutor’s office said in a statement that Audi CEO Rupert Stadler was arrested as part of “an investigation into diesel affairs and Audi engines,” Reuters reports.
‘Incredibles 2’ has the biggest opening weekend ever for an animated movie. Disney/Pixar’s “Incredibles 2” raked in an estimated $US180 million over the weekend, according to Boxofficepro.com, as it easily surpassed “Finding Dory” ($US135 million) for the biggest opening weekend ever for an animated movie.
Stock markets around the world are lower. Japan’s Nikkei (-0.75%) led the losses in Asia, and Germany’s DAX (-1.02%) trails in Europe. The S&P 500 is set to open down 0.45% near 2,767.
US economic data trickles out. The NAHB Housing Market Index will cross the wires at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.91%.
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