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The National Association for Business Economists revised down its expectation for U.S. GDP growth to 2.4 percent from a previously forecast 3.1 percent. NABE said "sluggish" conditions in the first quarter spilled over into the second and will drag down economic growth for the year. (AP) |
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Relations between Greece and its creditors have soured, with European Commission President Jean-Claude Juncker on Sunday accusing Greek Prime Minister Alexis Tsipras of distorting the creditors' proposal. On Friday, Tsipras called the proposals "absurd" and "irrational, blackmailing demands." (CNBC) |
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The G7 world powers meeting in Germany have yet to commit to a continuation of sanctions on Russia over its role in the Ukraine crisis when the measures expire in July. Russia was ejected from the club of big industrial nations last year following its annexation of Crimea. (CNBC) |
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Japan's economic growth was revised sharply higher in the first quarter, though doubts remain over whether the momentum can be sustained. GDProse an annualized 3.9 percent in the first quarter, higher than the preliminary reading of a 2.4 percent increase. (CNBC) |
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The Turkish lira plunged and the country's stock market fell after Turkey's ruling AKP party lost its parliamentary majority in elections Sunday. The loss is seen as a rebuke of President Recep Tayyip Erdogan's bid to expand his presidential power. (Reuters) |
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Swiss agribusiness firm Syngenta has rejected the second buyout offer byMonsanto, saying its U.S. rival had not made significant attempts to address regulatory concerns that may impact a deal. (Reuters)
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Diageo shares surged on reports Brazilian billionaire Paulo Lemann's buyout firm 3G Capital is considering a bid for the spirits maker. |
Deutsche Bank is among the stocks to watch Monday. Shares were higher in pre-market trading after the bank announced Sunday its co-chief executives Anshu Jain and Jurgen Fitschen would step down. |
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Sears reported a smaller-than-expected quarterly loss Monday at its Kmart chain and Sears department stores as it reduced discounting, but revenue was lower than forecast. |
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General Electric is reportedly nearing a deal to sell the leveraged buyouts division of GE Capital to a major Canadian pension fund. |
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Today's Markets:
In Asia, Japan flat at 20457. Hong Kong +0.2% to 27316. China +2.2% to 5132. India -0.9% to 26523.
In Europe, at midday, London -0.1%. Paris -0.6%. Frankfurt -0.5%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.2%. Crude -0.7% to $58.73. Gold +0.5% to $1174.20.
Ten-year Treasury Yield -2 bps to 2.38%
Notable earnings after today's close: CASY, CBK, FCEL, HRB, HQY, KANG, LAYN, PBY, PLAY, SB, TPLM, UNFI
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