01Jun2020 Midday Update: Wall Street Trading Mostly Along The Unchanged Line Currently In The Green At 12:30 ET, DOW Up 61 Points, Nasdaq Up 0.5%, WTI Slips To 34.59, US Dollar Weaker At 97.93, Gold Higher At 1740

Here is the current market situation from CNN Money

North and South American markets are broadly higher today with shares in Mexico leading the region. The IPC is up 1.62% while Brazil’s Bovespa is up 1.02% and U.S.’s S&P 500 is up 0.20%.

Wall St. flat as recovery hopes offset U.S. protests, China tensions

U.S. stocks struggled for direction on Monday as investors weighed prospects of a post-pandemic economic recovery against protests across the country over race and an ongoing standoff between Washington and Beijing.

Facebook, Snapchat join chorus of companies condemning George Floyd death, racism

Facebook Inc and Snap Inc became the latest U.S. companies condemning racial inequality in the United States as violent protests flared up across major cities over the death of George Floyd, an unarmed black man who died while in police custody in Minneapolis last week.

Construction spending falls less than expected

U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.

Eli Lilly starts human study of potential COVID-19 antibody treatment

Eli Lilly and Co said on Monday it had started an early-stage trial to test its potential treatment for COVID-19, in the world’s first study of an antibody treatment against the disease.

Zynga to buy Turkish mobile game-maker Peak for $1.8 billion

Zynga Inc said on Monday it would buy Turkish mobile-game maker Peak for $1.8 billion, in a move that will boost the company’s daily active user base by 60%.

Oil drops as U.S.-China tension escalates

Oil futures edged lower on Monday as rising U.S.-China tensions weighed on market sentiment, but reports that OPEC and Russia were close to a deal extending output buoyed prices.

Facebook’s Zuckerberg faces employee backlash over Trump protest comments

Facebook employees critical of CEO Mark Zuckerberg’s decision not to act on President Donald Trump’s inflammatory comments about U.S. protests went public on Twitter, praising the rival social media firm for acting and rebuking their own employer.

Lufthansa supervisory board rubber stamps $10 billion state bailout

Lufthansa’s supervisory board has approved a 9 billion euro ($10 billion) government bailout that will force the German airline to give some of its prized landing slots to rivals.

Global remittances could fall by $100 billion in 2020, says Citi

Slower economic growth expectations prompted Citi on Monday to slash its forecasts for global remittances, saying this raised the risk to credit ratings of smaller emerging market countries and was set to push up their borrowing costs.

After Trump Vows To Classify It As Terrorist Group, Leftists Defend ANTIFA

After Trump Vows To Classify It As Terrorist Group, Leftists Defend ANTIFA Tyler Durden Mon, 06/01/2020 – 12:10

Authored by Steve Watson via Summit News,

Following President Trump’s promise to classify ANTIFA as a terrorist organisation, hyperventilating leftists, virtue signalling celebrities and fake media mouthpieces rushed to DEFEND the group responsible for the wanton violence and destruction, because orange man is bad.

Caught On Video: Tesla On Highway Drives Straight Into Overturned Truck At Full Speed

Caught On Video: Tesla On Highway Drives Straight Into Overturned Truck At Full Speed Tyler Durden Mon, 06/01/2020 – 11:52

A dramatic video emerged over the weekend of a Tesla traveling on a highway in Taiwan, at what appears to be full speed, before slamming directly into an overturned truck that was laying across the highway. The Tesla appears to make little or no change in direction before hitting the truck. At one point, smoke can be seen coming out of the back tires of the vehicle, indicating that the Tesla may have tried to brake – but to no avail.

The Tesla was “presumably on Autopilot,” Inside EVs said. “Clearly, the car should’ve stopped itself here and you’d think this scenario would be among the easiest for a system such as Autopilot to detect and respond to, but that’s definitely not the case.”

Washington Caves, NYC Mayor Says “Strongly Considering” Curfew After Another Night Of Looting

Washington Caves, NYC Mayor Says “Strongly Considering” Curfew After Another Night Of Looting Tyler Durden Mon, 06/01/2020 – 11:45

Update (1135ET): After Washington DC and NYC bizarrely refused to impose curfews this weekend while nearly 3 dozen other major cities set curfews beginning as early as 4pmET on Sunday, Washington Mayor Muriel Bowser is planning to implement a curfew starting tonight at 7pmET (and again tomorrow), while de Blasio tries to save face by saying he’s “strongly considering” a curfew after mobs plunder stores, set fires following day of protests.

President Trump, meanwhile, reportedly told governors, mayors and law enforcement officials during a video meeting that their response to the unrest was “weak”, and pressured them to allow cops to take more violent measures to contain these crowds during a hastily scheduled phone call to discuss “security measures” Monday morning. Trump also reportedly threatened to “activate” AG Barr if the unrest continues which sounds…more ridiculous than he probably intended.

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Update (1100ET): The Global Times is capitalizing on the unrest in the US, and exploiting it for maximum propaganda benefit.

Before and after photos of the

Watch Live: Cuomo Delivers First Daily COVID-19 Briefing Since Riots

Watch Live: Cuomo Delivers First Daily COVID-19 Briefing Since Riots Tyler Durden Mon, 06/01/2020 – 11:39

Update (1130ET): NY Gov Cuomo is delivering his latest daily update on COVID-19 after a weekend of chaos in NYC.

.@NYGovCuomo gives his daily COVID-19 update after a weekend of protests https://t.co/GQnKVc5gSO

” Reuters (@Reuters) June 1, 2020

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With US equity markets set to kick off the month of June in the green in defiance of any rational fundamental analysis, most of the army of journalists who have been covering various aspects of the coronavirus crisis have seemingly been diverted to covering the “protests” that have broken out across the US last night, most of Monday’s big virus related news has come from abroad.

Moody’s downgrades India’s ratings, keeps outlook negative

Moody’s downgrades India’s ratings, keeps outlook negativeThe ratings agency said India faces a prolonged period of slower growth.

India’s fiscal pain could get worse this year

India’s fiscal pain could get worse this yearThe government racked up a budget deficit of 4.6% of GDP in the fiscal year that ended in March.

Can India douse border flare-up with Nepal?

Can India douse border flare-up with Nepal? India will be raising with Nepal its decision to alter the map ignoring certain Sino-Indian pacts, sources say.

April 2020 Construction Spending Declined But Was Only Marginally Affected By The Coronavirus

Written by Steven Hansen

The headlines say construction spending declined month-over-month. Our analysis shows the rolling averages declined.

Digital Ally, Cemtrex and gun stocks power higher as social unrest fuels investor interest

Shares of Digital Ally Inc. and Cemtrex Inc. were vaulted higher Monday, as the nationwide protests against police killings fueled investor interest in the security products makers.

The Margin: People in London, Berlin, Milan and other major cities around the world protest the killing of George Floyd

In England, thousands of people gathered in Trafalgar Square and chanted ‘No justice! No peace!’ before marching to the American embassy.

The Tell: Here are the 10 most under and overbought S&P 500 stocks, according to Goldman

There has been significant divergence between individual stock prices and their expected earnings next year, presenting some buying and selling opportunities for investors