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Trump wants cheap oil, Saudis need higher prices
Gross futures dropped 0.7% at 62.87 USD / bar at night, extending a 3% sagging from Friday, the rally weeks ended after President Trump demanded that OPEC increase production to mitigate the effects of US sanctions against Iran. Some non-OPEC producers, including Russia, have subscribed to supply cuts, but analysts say this cooperation may not last longer than an OPEC meeting. + expected in June. New IMF data shows that Saudi Arabia needs prices of about $ 85 a barrel to balance its budget this year, compared to a forecast of $ 73 a barrel in September.
Boeing CEO to present 737 Max return
Boeing (NYSE: BA) CEO Dennis Muilenburg will hold his first press conference since the global failure of the 737 MAX, which has led to investigations, lawsuits and a significant loss of shareholder value. The event starts at 10:00 am EDT after the annual general meeting of the planner manufacturer in Chicago. Although weekend reports indicate that pilots have warned the 737 MAX's training proposal projects not to go far enough to address their concerns, the FAA may allow the aircraft to fly at the end of the day. May or early June.
The most profitable film of "Endgame" of all time?
Avengers: End of the game became the first film to generate more than $ 1 billion in revenue at its global box office debut, marking the impression of a dominant Marvel franchise that has been a feather in Disney's hat (NYSE: DIS) . Propelled by record races in the United States and China, the film grossed about $ 1.2 billion in the first five days of release. Of this total, approximately $ 350 million came from the United States and Canada, an amount that exceeded the previous record of the first opening weekend established last year by Avengers: war in the infinite about $ 92 million.
What to look at – Alphabet results
The latest figures from Google Alphabet (GOOG, GOOGL) are expected after the closure of Wall Street tonight. The consensus estimate of EPS is $ 10.17 (+ 2.4% Y / Y), while revenues are expected to rise to $ 37.36 billion (+ 19.9% Y / Y) . It is likely that YouTube will remain a financial black box, but Amazon (NASDAQ: AMZN) is likely to be criticized for the dominance of Google in digital advertising. It also has the benefit over cloud computing (AWS), voice-activated devices (Alexa) and about 54% of people looking for a product now start their search directly on Amazon .com.
Walmart teases free delivery one day
Walmart (NYSE: WMT) made the final blow in the war of excessive deliveries in the retail sector. "Free shipping in one day … no membership fees, that would be revolutionary, stay tuned," tweeted the retail giant just before the weekend. The tease follows the information published by Amazon (AMZN) during its announcement of results. She plans to launch the Prime Expedition this year thanks to a significant investment in the company 's internal delivery infrastructure.
Things get hot in the Permian Basin
The Board of Directors of Anadarko (NYSE: APC) has decided that a $ 38 billion public purchase and purchase offer from Occidental Petroleum (NYSE: OXY) could result in a higher transaction than Chevron (NYSE: CVX), Reuters. reports. E & P will now begin negotiations to see if it can finalize an agreement, although a $ 1 billion break-up fee is at stake. The acquisition would add nearly a quarter of a million acres to holdings. in the Permian shale basin, while doubling its global oil and gas production to 1.4 million barrels of oil equivalent per day.
The Bayer Board of Directors supports the CEO for the moment
Despite a vote of no-confidence, Bayer's board of directors (OTCPK: BAYRY) remains loyal to CEO Werner Baumann, two of drug company's biggest investors, Deka and Union Investment, who said management should stay at the helm to avoid new troubles. "The hasty replacement of the CEO would only increase the risk of a break-up and therefore could not be in the interest of long-term oriented investors." Bayer shares have fell about 36% Over the past year, the company has faced a wave of lawsuits claiming that Roundup – the weed killer acquired from Monsanto's $ 63 billion takeover – could cause cancer.
Focus on the Spanish economy
For the third time in four years, the Spaniards have elected a new government and, although Prime Minister Pedro Sanchez will most likely remain in power, the key question is how it will succeed. A pact with the Ciudadanos liberals would be perceived as an advantage for investors, but a partnership with the anti-austerity party Podemos and Catalan independence parties could be a less favorable option for the market. Ibex 35 from Spain is only up 11% this year, making it one of the worst performers in Europe.
Big boost for Initative Belt and Road
President Xi Jinping praised his flagship foreign policy project at a "Belt and Road" conference in Beijing on Saturday, and announced "open, clean, and environmentally friendly" infrastructure agreements of one year. worth more than $ 64 billion. In a separate statement, China said it has signed a memorandum of understanding with various countries, including Italy, Peru, Barbados, Luxembourg, Peru and Jamaica. Refinitiv data indicate that the total value of the New Silk Road projects is $ 3.67 billion, covering countries in Asia, Europe, Africa, Oceania and South Africa. South America.
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