June 2 Premarket Briefing: 10 Things You Should Know
Updated from 6:49 a.m. EDT
Here are 10 things you should know for Monday, June 2:
1. -- U.S. stock futures were rising Monday following manufacturing expansion in China.
European stocks were mixed. Asian shares closed the session mostly higher. Chinese markets were closed for a holiday. Japan's Nikkei 225 index rose 2.1% after China Federation of Logistics and Purchasing said its monthly manufacturing index rose to 50.8 points in May, up from April's 50.4, and was the highest level this year.
2. -- The economic calendar in the U.S. on Monday includes the ISM index for May at 10 a.m. EDT, and construction spending for April at 10 a.m.
3. -- U.S. stocks on Friday closed mixed following weaker-than-expected consumer spending, which accounts for 70% of overall economic activity. A consumer sentiment reading also was weaker.
The Dow Jones Industrial Average rose 0.11% to close at 16,717.11, while the Nasdaq declined 0.13% to 4,242.62. The S&P 500 settled higher by 0.18% to 1,923.57.
4. -- Dai-ichi Life , the Japanese insurer, is in advanced talks to buy Protective Life
The deal would be the biggest so far in a string of overseas acquisitions by Japan's insurers, according to Reuters.
Dai-ichi Life, Japan's second-largest private-sector life insurer, plans to buy 100% of Protective Life, a source with direct knowledge of the matter told Reuters.
Protective Life shares rose 13% in premarket trading to $59.08.
5. -- Hall of Fame golfer Phil Mickelson confirmed that FBI agents investigating insider trading approached him this week at the Memorial Tournament. The five-time major champion said over the weekend he has done "absolutely nothing wrong."
A federal official briefed on the investigation told The Associated Press the FBI and Securities and Exchange Commission are analyzing trades Mickelson and Las Vegas gambler Billy Walters made involving Clorox
6. -- Apple
"My take is that with the dearth of hardware announced this spring, a publicly streamed keynote and the 7-1 stock split happening soon thereafter, we're in for some BIG announcements," said John Martellaro of The Mac Observer Web site, and a former Apple executive.
WWDC, held this year as it is in most years at the Moscone Center West in San Francisco, will largely focus on updates to iOS 8, as well as Mac OS X. Given all the talk of a drastic redesign in user interface to match that of iOS 7, OS X, for which there isn't a code name yet, may get the majority of the attention this year.