Here are five things you must know for Monday, June 4:
1. -- Stocks Rise Amid U.S.-China Trade Fears
U.S. stock futures pointed to gains for Wall Street on Monday, June 4, and stocks in Europe and Asia were higher as stronger-than-expected jobs data from the U.S. overshadowed trade fears.
Contracts tied to the Dow Jones Industrial Average
The U.S. added 223,000 jobs in May, higher than economists' forecasts, and the unemployment rate dipped to 3.8% from 3.9% the previous month.
The backdrop of a full-on trade war between Washington and Beijing, however, will continue to hang over markets this week and ahead of what promises to be a testy meeting of G-7 leaders in Quebec City starting Friday, June 8.
U.S. Commerce Secretary Wilbur Ross wrapped-up a series of meetings with China's Vice Premier Liu He on Monday without making progress on a host of issues between the two nations in a dispute over tariffs, access and trade deficits.
The U.S. economic calendar on Monday includes Factory Orders for April at 10 a.m. ET
Palo Alto Networks Inc. (PANW) rose 1% in premarket trading after the network security company reported fiscal third-quarter adjusted profit of 99 cents a share, 3 cents above estimates, and revenue of $567.1 million, up 31% from a year earlier and above forecasts. Palo Alto, however, said earnings in the fourth quarter would come in under consensus forecasts.
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2. -- Apple Kicks Off WWDC
Apple Inc.'s (AAPL) annual Worldwide Developer Conference will begin on Monday with a keynote address from CEO Tim Cook, and rumors have been swirling about what upgrades and new products the tech giant might announce.
One of the biggest announcements expected at WWDC 2018 is a new iPhone SE, according to TheStreet's Francesca Fontana. Apple first released the smaller, more affordable version of the iPhone in 2016 for $399, in part as a way for Apple to sell more phones in emerging markets such as China and India. By the end of 2016, the iPhone SE made up almost 10% of total iPhone sales for the year, according to research firm IHS Markit.
TheStreet will be live blogging Tim Cook's WWDC keynote address on Monday at 1 p.m. ET. Please check TheStreet's home page then for more details.
3. -- Microsoft Reportedly to Buy GitHub
Microsoft Corp. (MSFT) could announce an agreement to acquire GitHub, the code-repository company popular with many software developers, as soon as Monday, Bloomberg reported, citing people familiar with the matter.
Business Insider first reported on Friday, June 1, that Microsoft recently had held talks to buy GitHub. The companies have had on-and-off conversations over the years, but talks have grown more serious in the past few weeks, people close to the companies said.
GitHub was last valued at $2 billion in 2015.
San Francisco-based GitHub is an essential tool for coders. Many corporations, including Microsoft and Alphabet Inc.'s (GOOGL) Google, use it to store their corporate code and to collaborate, according to Bloomberg.
Microsoft shares rose 0.6% in premarket trading.
4. -- American Warns of Fare Hikes if Oil Remains High
American Airlines Group Inc. (AAL) warned that airline passengers eventually may pay more for tickets if oil prices remain high.
"If it becomes clear this is the new normal you would see over time less capacity and growth in the industry and therefore higher prices, but I don't think that's going to happen in the near term," CEO Doug Parker told reporters on Sunday, June 3, on the sidelines of the annual International Air Transport Association meeting of airline executives, Reuters reported.
Oil prices have risen around 50% from levels seen last year, putting pressure on airline profits.
Early Monday, oil prices traded in the U.S. fell 0.74% to $65.35 a barrel.
5. -- Bayer to Retire Monsanto Name After Merger Closes
Bayer said following the $63 billion takeover that "Monsanto will no longer be a company name."
"The acquired products will retain their brand names and become part of the Bayer portfolio," Bayer added.
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