Yahoo Finance Morning Brief: Trump and US allies to showdown on trade
Monday, June 4, 2018
What to watch today
In the week ahead, the earnings calendar will be fairly quiet with no major companies set to report results, though investors will get quarterly updates from Conn’s (CONN), Palo Alto Networks (PANW), HD Supply Holdings (HDS), Okta (OKTA), Verifone (PAY), J M Smucker (SJM), Vail Resorts (MTN), and Stitch Fix (SFIX).
And on the economics side the biggest reports expected in the week ahead will be the latest report on job openings due out Tuesday and the April report on the trade balance expected for release on Wednesday morning. Amid President Donald Trump’s continued moves on trade policy and insistence that the U.S. close the trade deficit with many major trading partners, expect Wednesday’s report to get a bit more attention that usual.
Top news
Trade tensions intensify with Trump and allies set for showdown: President Donald Trump is headed for a showdown with America’s allies at a Group of Seven summit this week in Quebec, with the European Union and Canada threatening retaliatory measures unless he reverses course on new steel and aluminum levies. China, meanwhile, is warning it will withdraw commitments it made on trade if the president carries out a separate threat to impose tariffs on the Asian country.[Bloomberg]
Microsoft agreed to acquire GitHub: Microsoft Corp. (MSFT) has agreed to acquire GitHub Inc., the code repository company popular with many software developers, and could announce the deal as soon as Monday, according to people familiar with the matter. Terms of the agreement weren’t known. GitHub was last valued at $2 billion in 2015. [Bloomberg]
GM’s rebuilt finance arm may be a profit driver: General Motors Co. (GM) is counting on a profit boost from an unlikely source: its in-house lending arm. The nation’s largest auto maker by sales used to run one of the nation’s largest banks, General Motors Acceptance Corp. GM was forced to give up control of GMAC over the past decade, as both car company and lender careened toward federal bailouts in 2008 and 2009. But now, the rebuilt vehicle-finance unit, called GM Financial, has emerged as a budding profit driver. [The Wall Street Journal]
Facebook defends report about it sharing user data: Facebook Inc. (FB) is disputing a New York Times report about how it shares data with device makers from Apple AAPL)and Amazon (AMZN) to Samsung. They’re privy to Facebook users’ information but it’s nothing like the access that led to the Cambridge Analytica controversy, the social network said. The New York Times reported Facebook had struck deals with device manufacturers that allowed them full access to information on users and their friends. [Bloomberg]
What to expect from Apple’s huge developers conference: Apple’s (AAPL) Worldwide Developers Conference kicks off June 4, and we’ll be covering all of the news live on the ground. Apple is notoriously secretive, but leaks are inevitable. So we’ve scoured the internet for the biggest rumors and speculation surrounding the developers conference to give you the clearest picture of what Apple is likely to show off. [Yahoo Finance]
For more of the latest news, go to Yahoo Finance
Yahoo Finance Originals
This week in Trumponomics: Jobs good, trade bad
Charity lunch with Warren Buffett sells for $3.3 million
Behind the scenes of SportsCenter’s new era at ESPN
Here’s how much Netflix is spending to beef up its original content catalog
Wall St. CEO lists 4 things interns should look for in their first full-time job
—
Like what you just read? Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. And feel free to share it with a friend!
The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.
