Written by Gary
A four-day trading week ahead. US equity futures jumped in thin holiday volume. Enjoy your Holiday and thanks to those whom paid the ultimate price for our freedoms.
Here is the current market situation from CNN Money | |
 | European markets are higher today as French and German shares show gains. The CAC 40 is up 1.63% while the DAX is up 2.43%. The British FTSE 100 is closed. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Lufthansa, German government agree on $9.8 billion rescue package: sourcesThe German government and the management of flagship carrier Lufthansa , which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout, two people close to the matter said. |
| Talks on Lufthansa aid not concluded yet: ministryNegotiations on a government bailout for coronavirus-stricken airline Lufthansa are in their last phase but have not been concluded yet, a spokeswoman of the German economy ministry said on Monday. |
| Merkel won’t allow EU to deprive Lufthansa of key slots: HandelsblattChancellor Angela Merkel told senior members of her party that the German government would not allow the European Commission to deprive Lufthansa of valuable take-off and landing slots at Frankfurt and Munich airports, Handelsblatt reported. |
| Japan lifts Tokyo’s state of emergency, eyes fresh stimulusJapanese Prime Minister Shinzo Abe lifted a state of emergency for Tokyo and four remaining areas on Monday after the number of infections fell across the country, but warned that it could be reimposed if the virus started spreading again. |
| New emissions blow for VW as German court backs damages claimsVolkswagen must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted. |
| Investing in Spanish Nissan factory cheaper than closing it: Spanish officialNissan Motor would find it cheaper to invest in its Barcelona factory than to close it, a senior Spanish industry ministry official said on Monday, pegging the estimated cost of a shutdown at more than 1 billion euros ($1.1 billion). |
| Stocks gain as German survey fuels optimism; dollar firmStocks edged higher on Monday after a survey showed German business morale rebounded in May, boosting optimism around economic re-openings, although caution prompted the dollar to snap a rare losing streak. |
| Aston Martin chief to leave, Mercedes-AMG CEO to replace him: sourceAston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. |
| China’s Great Wall expects mild domestic auto sales growth in second halfGreat Wall Motor expects China’s overall auto sales in the second half this year to return to the same level as last year, its president said, as the world’s biggest auto market recovers from a coronavirus-driven low. |
| S&P Futures Jump, Global Markets Rise In Holiday-Muted SessionS&P Futures Jump, Global Markets Rise In Holiday-Muted Session Tyler Durden Mon, 05/25/2020 – 08:16 US equity futures jumped in thin holiday volume, rising alongside European and Asian markets, and are now less than 20 points away from 3,000 having put the key resistance level of 2,950 in the rearview mirror, as investors cheered the reopening of more economies while ignoring the rapid deterioration in US-China relations which has put the fate of Hong Kong on the line. The dollar was flat despite the weakest yuan fixing in 12 years, while oil recovered modest overnight losses. |
| “Shocking”: Americans Flood Beaches, Trampling Social Distancing Rules“Shocking”: Americans Flood Beaches, Trampling Social Distancing Rules Tyler Durden Mon, 05/25/2020 – 07:12 After months of quarantine, Americans are finally breaking free from their homes this Memorial Day weekend, despite the potential consequences of sparking a second coronavirus wave. The battle between staying sane while cooped up in a home for months versus the ongoing pandemic is a challenging situation to balance. While some are venturing outside in absolute horror, others are putting their party face on and disregarding local public health orders. Thousands of vacationers, few with masks and ignoring social distancing rules, flocked to Ocean City, Maryland for Memorial Day weekend. This comes as COVID-19 cases in the state topped 45,000, with the number of people hospitalized leveling off in the past several weeks.  |
| An “L”-Shaped ‘Recovery’ Is Not An Anomaly, It Is The Norm…An “L”-Shaped ‘Recovery’ Is Not An Anomaly, It Is The Norm… Tyler Durden Mon, 05/25/2020 – 06:20 Authored by Daniel Lacalle, Many analysts and economists are trying to predict the shape of the economic recovery post-Covid 19. To understand how the recovery may look like, we need to look at past recoveries and at the history of pandemics. Starting with the pandemic, we know a few things. First, there has never been a vaccine for any of the previous 18 Covid types. Second, there has never been a pandemic without a second wave before a treatment existed. Taking both things into account, the idea that many investors have that the worst is discounted may be overoptimistic. |
| Americans Are Rushing To Book Vacations In Re-Opened StatesAmericans Are Rushing To Book Vacations In Re-Opened States Tyler Durden Mon, 05/25/2020 – 05:45 Demand for vacations has seen a meaningful uptick this month, offering the first sliver of hope for the tourism and hospitality industry in months. Ahead of the Memorial Day weekend, vacation homes in places like Florida and Georgia, where states are starting to re-open, are also starting to open up. New rental bookings had started to recover in early May and are now 90% higher than a year ago in Florida, according to the Financial Times. |
| Airports see chaos, glitches as flights resume after 2 monthsAirports see chaos, glitches as flights resume after 2 monthsIndia’s busiest airports in Mumbai and Delhi have cancelled close to 200 flights since last night. |
| The race hots up for made-in-India Zoom rivalThe race hots up for made-in-India Zoom rivalHCL, Zoho among 10 companies selected for made-in-India video conferencing solution in India. |
| Do you have an exit strategy for your kitty?Do you have an exit strategy for your kitty?In investing, the level at which you invest is just as important as the value when you exit. |
| No, America’s billionaires didn’t get $434 billion richer during the pandemic ” quite the opposite, in factA study says America’s billionaires gained $434 billion in wealth during the crisis. A more sensible way of looking at the numbers show they lost nearly that much. |
| China asserts ‘strong dissatisfaction’ after U.S. expands tech blacklist for human rights abusesChina denounces a move by the U.S. Commerce Department to expand its so-called entity list of Chinese firms, which are restricted from doing business with U.S. firms, for alleged human rights abuses in the Xinjian Uighur Autonomous region. |
| ‘Project Birch’: Treasury draws up last resort bailout plan to rescue Britain’s largest companies‘Project Birch’ could see Britain’s Treasury step in to support key British companies whose failure will œdisproportionately harm the economy |
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