JakeNovakNews.com

​​​​


STOCKS/ECONOMY


-Stock futures are higher after Thursday’s 286-point loss for the Dow and slightly bigger percentage losses for the Nasdaq and S&P 500. We get the durable goods orders data later this morning. 

-The yield on the 10-year Treasury bond is down to 2.32 percent and pushing mortgage rates to their lowest levels in 14 months. Gold is steady at the $1,281 per ounce level. 

TRADE WARS

-Some of the more bullish sentiment on Wall Street this morning may be connected to President Trump’s comments Thursday afternoon. The president said the trade tensions with China could be resolved quickly, and added that removing sanctions against Chinese telecom giant Huawei could be part of an overall trade deal. 

-President Trump authorized $16 billion in aid Thursday to U.S. farmers who are getting hurt by the continuing trade war with China. 

MAY RESIGNS

-British Prime Minister Theresa May announced her resignation this morning, effective June 7th. The move was forced by her continued failure to get Parliament to pass any kind of Brexit deal. Fellow Conservative Party leader Boris Johnson is the favorite to succeed her. 

OIL/ENERGY 

-U.S crude prices are more than 1 percent higher this morning, but still at the $58 a barrel level after Thursday’s sharp selloff. 


-Gasoline prices continue to hold at $2.84 a gallon, national average. 

HEALTHCARE TRANSPARENCY 


-President Trump is reportedly expected to sign an executive order as early as next week that would force more of the healthcare industry to publish its prices and instruct the Justice Department to break up hospital monopolies. 

#METOO WEINSTEIN 

-Movie mogul Harvey Weinstein has reportedly made a $44 million settlement with several women suing him for sexual misconduct. $30 million will go to the victims and $14 million to legal fees. Weinstein still faces criminal charges. 

-Actor Geoffrey Rush has won $2 million in a defamation lawsuit against an Australian newspaper that published sexual misconduct accusations against him. It’s the largest court payout to an individual person in Australian history. The newspaper will appeal. 

RETIREMENT BILL


-The House of Representatives has passed a bill that makes it easier for businesses to offer 401(k) plans to employees and for individuals to use their retirement savings more flexibly. 

UNICORN VALUATIONS


-Food delivery service DoorDash is now valued at $12.6 billion after a new $600 million investment in the company.