Global rally continues

Asian stocks extend global rally, oil pares gain, Diebold files for bankruptcy, grocers slash prices, and Chuck Todd is replaced...

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Market Briefing
June 05, 2023

Good Morning.

Asian stocks extend global rally, oil pares gain, Diebold files for bankruptcy, grocers slash prices, and Chuck Todd is replaced...

Here's your market briefing for today…

BEFORE THE OPEN

As of market close 6/2/2023. Bitcoin as of 6/4/2023

Markets: 

  • All three indexes finished negative on the holiday-shortened week

  • S&P fell 1.2% last week, while the Dow and Nasdaq each lost nearly 1%

  • Payrolls added 390,000 jobs last month (economists expected 328k)

  • Average hourly earnings rose 0.3% in May just short of consensus estimate of 0.4%

EARNINGS

What MB is watching this week:

  • Tomorrow: Cracker Barrel (CBRL)

  • Full Earnings Calendar here

NEWS BRIEFING

  • Saudi pledges big oil cuts in July as OPEC+ extends deal (more)

  • Asia follows Wall St up on hopes fed will ease off rate hikes (more)

  • Wall Street backs off bets on Fed rate cuts (more)

  • Dollar edges up as US rates seen higher for longer (more)

  • ATM maker Diebold Nixdorf files for bankruptcy (more)

  • Banks prepare for losses in rush for commercial property exit (more)

  • Grocers cut prices globally as discount retailers gain share (more)

  • Elon Musk/Twitter face brand-safety concerns after execs depart (more)

  • Ex-NBCUniversal exec to join Twitter (more)

  • House conservatives divided on debt ceiling deal (more)

  • Chuck Todd replaced by Kristen Welker on ‘Meet the Press’ (more)

  • Hollywood directors reach deal as writers’ strike continues (more)

  • Cheapest Tesla model now qualifies for full $7,500 tax credit (more)

  • Restaurants rethink loyalty with brand partnerships and rewards (more)

  • The 17 jobs most impacted by ChapCPT (more)

  • Royals prepare to cringe as Prince Harry prepares to testify (more)

CRYPTO

  • The Met to return $550K in donations from FTX (more)

  • U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball (more)

  • Binance’s regulatory woes pave a path for CEO’s heir apparent (more)

  • Congress Introduces A Game-Changing Crypto Bill (more)

  • ‘Crypto Deserves a Good Bank’ — Investor Santos Says He’s Building It (more)

SHARES

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