10 Things You Need To Know This Morning
Good morning. Here's what you need to know.
Asian markets were lower in overnight trading with the Nikkei down 0.85% and Hong Kong's Hang Seng down 1%. Europe is modestly higher and U.S. futures are higher as well.
German manufacturing orders unexpectedly fell 2.3% on the month in April. Year-over-year the were up 5.6%. Jeff Gundlach reveals what is going on in global markets >
The ECB left its benchmark refinancing rate unchanged at 0.50% and the deposit rate unchanged at 0.00%. Mario Draghi will hold a press conference at 8:30 a.m. ET.
The Bank of England left its interest rate and asset purchase programme unchanged at 0.5% and ₤375 billion. This is Mervyn King's last meeting before Mark Carney takes over.
Turkish protestors and police clashed ahead of prime minister Tayyip Erdogan's return from a visit to North Africa. The protests were initially intended against the redevelopment of a park at Taksim square but have since mushroomed to anti-government protests.
Initial jobless claims fell to 346,000, from an upwardly revised 357,000 the previous week.
Apple will reportedly release a new version of the MacBook Air next week, according to Marc Gruman 9 to 5 Mac. Meanwhile, Apple will sell audio commercials in its music streaming service. The tech giant is expected to announce the music streaming service at the Worldwide Developers Conference (WWDC) in San Francisco next week.
SAC Capital's Steve Cohen has said he will keep his hedge fund open, even after he received billions of dollars in withdrawal requests, according to Bloomberg. The 12 smartest people on Wall Street >
The National Security Agency has reportedly been monitoring the telephone records of Verizon customers in the U.S. A court order issued in April requires Verizon to hand over information on calls within the U.S., and between the U.S. and other countries, on a daily basis.
The European Union is considering giving oversight of Libor to a supervisor in France. London has so far had oversight of Libor and the move is expected to anger UK chancellor George Osborne if carried through, according to the Financial Times. A simple math formula is basically responsible for all of modern civilization >
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