Concerns Grow That OPEC's Production Cuts Could Be Undermined

This is what you need to know before the bell:

  1. Oil prices fall as increasing production in Libya adds to concerns that OPEC-led production cuts will be undermined. Higher output in the U.S. has also been seen as one of the reasons behind the decline in oil prices.
  2. Eurozone inflation in May misses analysts' estimates. Data show Eurozone inflation slowed to 1.4% in May, down from 2% in April.
  3. ChemChina has accumulated nearly 95% of Syngenta's (SYT) shares. The move forms part of a $43 billion offer for the Swiss pesticides group.
  4. Amazon (AMZN)  hit the $1,000 price mark on Tuesday. Amazon is only the second of the current S&P 500 components to break that barrier.
  5. China's manufacturing sector expanded faster than expected in May. The country's steel PMI grew at its fastest pace in a year.

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