STOCKS/ECONOMY
-Stock futures are lower after Wednesday's 1-point loss for the Dow, 0.3 percent drop for the S&P 500, and a 0.5 percent decline for the Nasdaq. Investors are responding to a Boeing jetliner crash and wholesale inflation numbers.
-The May producer price index came in at 0.1 percent, less than the 0.2 percent that economists expected. The annual rate came in as expected at 2.6 percent.
-The yield on the 10-year Treasury bond is down to 4.35 percent.
-Gold is up to the $3,402 per ounce level. Bitcoin is at the $107,100 level.
-Asian markets closed lower today, led by a 1.4 percent selloff for the Hang Seng. The Nikkei lost 0.7 percent and the Shenzhen fell 0.1 percent.
OIL/ENERGY
-U.S. crude prices are down and at the $67 a barrel level. That's after a 5 percent gain Wednesday on worries of some kind of imminent Iran-related violence in the Middle East.
-Gasoline prices are holding at $3.12 a gallon, national average.
BOEING CRASH
-An Air India 787 Boeing Dreamliner crashed this morning in the Indian city of Ahmedabad with 242 people aboard. Boeing (BA) shares are down 5 percent in the premarket. Shares of GE Aerospace (GE), which supplies several operating systems on the 787, are down 3 percent in the premarket. Shares of Rolls Royce, which makes the engines for the 787, are down 1 percent in London market trading.
TRADE WARS
-President Trump says he is considering resuming a policy of setting unilateral tariffs. He made that statement in a social media post that also celebrated a number of recent trade deals and agreements.
ORACLE NUMBERS
-Oracle (ORCL) reported better than expected quarterly profits and revenues. Its shares are up 9 percent in the premarket.
MEME MANIA
-GameStop (GME) announced its selling convertible bonds in hopes of raising cash it will use to buy bitcoin. Its shares are down 18 percent in the premarket.
Share this post