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Global Stocks Rally, Oil Rebounds as Fears of ‘Brexit’ Ease

Global stocks are rallying this morning and oil is rebounding. 'Brexit' fears are easing as recent polls give a slight edge to supporters of staying in the European Union.
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Global stocks are rallying this morning and oil is rebounding. The fears of a 'Brexit' are easing as recent polls give a slight edge to supporters of staying in the European Union. Both sides in the referendum debate suspended campaigning after the murder of a British lawmaker. Gold prices are retreating. Revlon (REV) - Get Revlon, Inc. Class A Report is buying Elizabeth Arden (RDEN) in a cosmetics matchup. The deal is worth $870 million, including debt. Revlon is paying $14 a share, a 50% premium to Elizabeth Arden's closing stock price. The deal allows Revlon to expand more into skincare. Oracle's (ORCL) - Get Oracle Corporation Report stock is climbing after the company's cloud business helped it beat Wall Street expectations. Oracle's software business grew 2% but CEO Safra Katz says the company is more focused on its cloud business, which saw growth of 49%. Housing starts for May are reported. The Baker Hughes rig count is released.

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