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Market Wrap: pre-opening session |
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U.S. market futures trade green on hopes of U.S.-Iran deal, despite recent strikes in Iran. On Monday, the U.S. stock market was closed for the Memorial Day holiday. Friday, U.S. stocks gained further, with the Dow Jones advancing 294 points (+0.58%) to 50,579. The S&P 500 added 27 points (+0.37%) to 7,473, and the Nasdaq 100 was up 124 points (+0.42%) to 29,481.
On the stat front, in the U.S., the Conference Board consumer confidence index is expected to slip to 92.0 in May, while the Dallas Fed manufacturing index is estimated to improve to -1.0.
European indices are mostly down, while U.K.'s FTSE 100 trades higher.
Asian indices were mixed, while South Korea's Kospi hit new records.
WTI crude oil prices are slightly rebounding as U.S. carried out strikes in Iran, adding uncertainty regarding a peace deal.
Gold loses ground as U.S. and Iran tensions stoke concerns around inflation.
Bitcoin consolidates below 77,000 dollars.
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Eli Lilly and Company (LLY), a developer and producer of pharmaceuticals, gains ground after announcing its intention to acquire three private vaccine developers for an amount of up to nearly 4 billion dollars.
Uber Technologies (UBER): according to the Financial Times, the technology platform is reportedly considering raising its offer for German food delivery group Delivery Hero, after an initial proposal valuing the company at 11.5 billion dollars.
AutoZone (AZO), the leading retailer and distributor of automotive replacement parts and accessories in the U.S., loses ground on lower-than-expected quarterly earnings.
Travelers Companies (TRV), the insurance company, was raised to "neutral" from "underweight" at JPMorgan.
Intuit (INTU): Mizuho cut its price target on the developer and marketer of accounting software for small and medium sized businesses to 500 dollars from 600 dollars.
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On Monday, the S&P/TSX Composite Index gained 0.94% to 34,794 and the S&P/TSX 60 Index was up 0.91% to 2,033.
Manulife Financial (MFC), a financial services company, launched a 10-year Singapore dollar-denominated subordinated Tier-2 bond with a non-call period of five years.
Suncor Energy (SU): Jefferies raised its price target on the energy company to 101 dollars from 93 dollars.
Lundin Mining (LUN): JPMorgan cut its price target on the mining company to 27.8 dollars from 30.8 dollars.
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