Global Stocks Rally for Second Day, Oil Approaches $50 a Barrel

Stocks are rallying around the world and if the Dow Jones Industrial Average holds early gains, it will go positive for the month of May.
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Stocks are rallying around the world and if the Dow Jones Industrial Average holds early gains, it will go positive for the month of May. Oil is at a 7 month high and is closing in on $50 a barrel. Microsoft (MSFT) - Get Report  is laying off 1850 people in its smartphone business. Most of the job cuts will be in Finland. This is a step as Microsoft continues to dismantle its mobile phone operations it acquired from Nokia. Hewlett Packard Enterprises (HPE) - Get Report  is making some more structural changes. CEO Meg Whitman says the company will spin off its Enterprise Services Unit. HPE said in a statement that it will spin-off and merge its enterprise services business with the IT infrastructure services firm CSC, creating a combined entity that would potentially generate $26 billion in annual revenue. Dallas Fed President Robert Kaplan participates in a question and answer symposium in Houston. U.S. Foods, the second largest food service distributors is set to price 44 million shares at $22.50 each. Mortgage applications are released.