Here are 10 things you should know for Monday, May 2:
1. -- U.S. stock futures suggested Wall Street would open higher on Monday as investors looked past declining oil prices and a 3% plunge in Japanese stocks.
European stocks traded mixed early Monday. Markets in London were closed.
Asian shares traded mostly lower amid disappointment over the lack of fresh stimulus from Japan's central bank at its policy meeting last week. The Nikkei 225 in Tokyo slumped 3.1%. Markets in China and Hong Kong were closed for a public holiday.
2. -- The economic calendar in the U.S. Monday includes the ISM Index for April at 10 a.m. and Construction Spending for March at 10 a.m.
Benchmark indexes were well off session lows, though they remained in the red through the closing bell. The S&P 500 fell 0.51% on Friday, the Dow Jones Industrial Average fell 0.32%, and the Nasdaq declined 0.62%.
Apple suffered its worst three-day stretch since early 2013, falling 1% on Friday as sentiment on the tech giant shifted following its first revenue decline in 13 years. On Thursday, billionaire investor Carl Icahn disclosed he no longer had any stake in the company.
"The merger of Halliburton and Baker Hughes would have raised prices, decreased output and lessened innovation in at least 23 oilfield products and services critical to the nation's energy supply," Deputy Assistant Attorney General David I. Gelfand of the DOJ's Antitrust Division said in a statement. "We achieved the only result that could adequately protect American consumers -- an abandonment of this unlawful merger."
In a statement, Halliburton Chairman and CEO Dave Lesar attributed the deal's failure to "challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics," while his counterpart at Baker Hughes, Martin Craighead, reiterated his belief in "the vast potential of the business combination to deliver benefits for shareholders, customers and both companies' employees."
Halliburton announced plans to acquire Baker Hughes on Nov. 17, 2014. If completed, the merger would have combined the second- and third-largest oilfield services firms in the world after Schlumberger (SLB - Get Report) .
The cash-and-stock acquisition was worth originally about $35 billion, but its value fell to about $28 billion as shares of both companies dropped since the announcement.
5. -- Investors should remain patient with their investments because U.S. businesses will yield positive returns over the long-term because of the strength of the economy, said Warren Buffett on Saturday at Berkshire Hathaway's (BRK.A - Get Report) annual shareholders meeting in Omaha.
Instead of being focused on companies seeking an initial public offering and the potential upside, investors need to view stocks and their prices as businesses and examine their performance, he continued.
Maintaining a long-term view on equities produces better results for investors and not checking stock prices often is not an issue, said Buffett, who serves as chairman and CEO of Berkshire Hathaway.
6. -- Oil prices in the U.S. were falling Monday, down 0.9% to $45.52 a barrel, as production from OPEC rose last month.
Crude production by the Organization of the Petroleum Exporting Countries rose in April to 32.64 million barrels per day (bpd), close to the highest level in recent history, according to Reuters.
Russia, the biggest exporter outside OPEC, also increased monthly crude for seaborne exports by more than 7% last month.
7. -- Hulu is developing a subscription service that would stream feeds of popular broadcast and cable TV channels, people familiar with the plans told The Wall Street Journal.
The move would make Hulu a competitor to traditional pay-TV providers and other new digital entrants.
Until now, Hulu has offered on-demand programming from major networks, similar to Netflix (NFLX - Get Report) . The company hopes to launch the new cable TV-style online service in the first quarter of 2017, the people said.
8. -- An Australian man long thought to be associated with the digital currency Bitcoin publicly has identified himself as its creator.
BBC News said Craig Wright told the media outlet he is the man previously known by the pseudonym Satoshi Nakamoto. The computer scientist, inventor and academic said he launched the currency in 2009 with the help of others.
His identity has been shrouded in uncertainty until now.
The BBC said Monday he decided to make his identity known to stop the spread of "misinformation," myths and fears about Bitcoin.
9. -- United Airlines (UAL - Get Report) cut the pay of Chief Operations Officer Greg Hart by $1 million in connection with an internal probe that resulted in the resignation of its CEO last year, the company said in a proxy statement, Reuters reported.
The 2015 annual incentive pay of Hart was reduced in connection with a probe into the airline's relationship with the Port Authority of New York and New Jersey.
The internal probe focused on whether United added flights to Columbia, S.C., to curry favor with then-Port Authority Chairman David Samson, who had a home there, Reuters noted. United has also disclosed two government probes related to the matter.