08Jun2020 Pre-Market Commentary: Global Stocks Rise, SP 500 Futures Above 3,200 As Melt-Up Continues, DOW Up 272 Points, WTI Crude Steady At 38.77

Here is the current market situation from CNN Money

European markets are higher today with shares in Germany leading the region. The DAX is up 0.47% while London’s FTSE 100 is up 0.33% and France’s CAC 40 is up 0.27%.

Exclusive: Fiat, PSA merger hits EU roadblock, may need concessions – sources

Fiat Chrysler’s planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies’ market share in small vans, indicating concessions may be required, sources said.

Factbox: Who’s bidding to be next World Trade Organization chief?

The World Trade Organization (WTO) began the process on Monday of selecting a new director-general to replace Brazil’s Roberto Azevedo, who is stepping down a year early at the end of August.

Exclusive: Oil major BP to cut 15% of workforce

BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy, it said on Monday.

Gilead shares rise 5% on report of AstraZeneca’s interest in megamerger

Shares of U.S. drugmaker Gilead Sciences Inc rose over 5% in premarket trading on Monday after a report it had been approached by Britain’s AstraZeneca for a possible merger to form one of the world’s largest drug companies.

Ryanair boss sees UK quarantine dropped or quashed by end-June

Ryanair believes Britain’s courts will either strike down a 14-day quarantine for international travellers this week or the government will drop the measure before the end of June, boss Michael O’Leary told Reuters on Monday.

Austria strikes 450 mln eur bailout deal for Lufthansa unit: sources

Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.

EU antitrust regulators reinforce case against Teva pay-for-delay deals

EU antitrust enforcers, boosted by recent court victories, on Monday reinforced their case against Israeli drugmaker Teva over its deal with rival Cephalon to delay selling a generic version of its sleep disorder drug modafinil.

Samsung leader appears in court, waits to hear if he’ll be jailed again

Samsung Group’s leader, Jay Y. Lee, appeared before a South Korean court on Monday, awaiting a ruling on whether new allegations including accounting fraud and stock manipulation will send him back to jail after more than two years of freedom.

Futures rise on optimism over economic revival

U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world’s biggest economy has weathered the worst fallout of the coronavirus outbreak.

DOJ Demands Prince Andrew Testify In Criminal Investigation Of Jeffrey Epstein Accomplices

DOJ Demands Prince Andrew Testify In Criminal Investigation Of Jeffrey Epstein Accomplices Tyler Durden Mon, 06/08/2020 – 08:29

The Justice Department has made a formal request that the British government hand over Prince Andrew for questioning over his relationship with deceased pedophile Jeffrey Epstein, according to The Sun and confirmed by ABC News.

Why It’s Impossible To Get Rid Of Bad Cops

Why It’s Impossible To Get Rid Of Bad Cops Tyler Durden Mon, 06/08/2020 – 08:17

Authored by Mike Shedlock via MishTalk,

Derek Chauvin, the officer who murdered George Floyd, had 18 complaints against him. He was disciplined twice. Why was he still on the force?

Global Stocks Rise, S&P Futures Above 3,200 As Melt-Up Continues

Global Stocks Rise, S&P Futures Above 3,200 As Melt-Up Continues Tyler Durden Mon, 06/08/2020 – 07:59

One day after a record surge in Nasdaq trading volumes on Friday, which was coupled with a record spike in call option activity as both retail and hedge fund investors rush into stocks, global stocks inched higher again on Monday, adding to a 42% surge from their March lows, as the unexpectedly strong US jobs report data fuelled hopes of a quicker global economic recovery from the coronavirus pandemic. Emini futures jumped in early trading overnight then drifted in a range between 3,185 and 3,210.

Seattle Motorist Shoots Protester, Police Violate ‘Tear Gas Ban’ During Another Night Of “Peaceful” Demonstrations

Seattle Motorist Shoots Protester, Police Violate ‘Tear Gas Ban’ During Another Night Of “Peaceful” Demonstrations Tyler Durden Mon, 06/08/2020 – 07:25

The media has taken great pains to protect the legitimacy of the protest movement by pushing the narrative that demonstrations were ‘largely peaceful’ even as protesters in the US defaced the Lincoln Memorial, and attacked a children’s hospital, among other transgressions. On Sunday evening, the Minneapolis City Council sided with the radical left by voting in a veto-proof to dismantle the city’s police department and replace it with a “holistic” public-safety department.

As NYPD officers in some parts of NYC smoked cigars and enjoyed ice cream while taking pictures with some marchers and motorists in a gesture of “deescalation”, an armed driver in Seattle barreled into a crowd of protesters, shooting one person who reportedly tried to stop him, before surrendering to police.

A niche Indian loan market hasn’t been this quiet in 14 years

A niche Indian loan market hasn’t been this quiet in 14 yearsLending by Indian banks is drying up in a niche market that is important for lower-rated companies.

Vande Bharat wasn’t just a rescue op afterall

Vande Bharat wasn’t just a rescue op afterallAir India’s special international service is getting flak for “exorbitant and arbitrary pricing”.

Stay put! Your office doesn’t want you back

Stay put! Your office doesn’t want you backOrganisations are framing long-term policies to enable almost half of employees to work from home.

Outside the Box: Machine learning won’t crack the stock market ” but here’s when investors should trust AI

Ask these 5 questions before you invest with a machine-learning-based program.

In One Chart: As statue of U.K. slave trader is toppled, these charts show big impact of slavery on British economy

Britain’s role in the trans-Atlantic slave trade came into focus in the U.K. after a statue of a 17th-century slave trader was torn down by protesters.

Metals Stocks: Gold prices head higher after Friday fall as investors bet on continued central-bank stimulus

Gold prices on Monday rise off a two-month low as investors wager that stimulus from central banks will remain in place, bolstering the case for bullion, despite a powerful rebound from equities off their lows.