June 3 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Tuesday, June 3:
1. -- U.S. stock futures were pointing to a lower start on Tuesday as global stocks traded mixed.
European stocks declined. The European Union's statistics agency said that inflation in the eurozone was a lower-than-expected 0.5%, down from 0.7% in April.
Stocks in Asia closed mostly higher.
2. -- The economic calendar in the U.S. on Tuesday includes factory orders for April at 10 a.m. EDT.
3. -- U.S. stocks on Monday finished mixed with the S&P 500 and Dow Jones Industrial Average managing to cling onto miniscule gains to close at fresh highs.
The S&P 500 finished up 0.07% to 1,924.97 and the Dow rose 0.16% to 16,743.63. The Nasdaq slipped by 0.13% to 4,237.20.
4. -- The board of Hillshire Brands
Pilgrim's Pride raised its offer for Hillshire Brands by more than $1 billion to more than $6.7 billion, or $55 a share. That offer for Hillshire, which makes Jimmy Dean sausages and Sara Lee cheesecakes, trumps a $50-a-share offer for Hillshire on Thursday from Tyson. Pilgrim had made an offer on May 27 of $45 a share for Hillshire.
5. -- With no new hardware products but a major overhaul of its desktop and mobile operating system, Apple
Apple on Monday launched its newest operating system, Mac OS X Yosemite, in addition to a new iteration of its mobile operating system, iOS 8.
The iPhone and iPad creator called iOS 8 its biggest release since the launch of the App Store at the dawn of the iPhone era, and the redesign includes a host of new features and functions, which may add fodder to speculation a big hardware launch could come in the second half of 2014.
Apple said iOS 8, complete with an iCloud Photo Library, is a simpler, faster and more intuitive user experience that will give users a lot of new functionality. Within iOS 8, Apple launched a new health application that will centralize a user's health and fitness data.
6. -- Automakers, including General Motors
7. -- France's foreign minister said a reported multibillion dollar fine that BNP Paribas is facing in the U.S. is unreasonable and could threaten a free-trade agreement between Europe and the United States.
BNP Paribas, France's largest bank, set aside $1.1 billion last year after the U.S. began investigating it for alleged sanctions violations, but this spring said the fines could be "far in excess." The Journal reported last week the fine could be $10 billion.