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Stock market today, May 19, 2014: The Dow Jones Industrial Average rose on Friday as positive housing data raised investor sentiments and trimmed morning losses. U.S. consumer sentiment slipped in May, offering new concerns about U.S. income growth.
Here are the 10 things you should know to make your Monday profitable:
- A Signature Away: Russia and China are in the final stages of a major natural gas deal. Under the terms, Russia would supply China with 38 billion cubic meters of gas each year, which signals a steep change in policies for Vladimir Putin. By turning to Asia, Russia would significantly slash its reliance on European customers. The groundbreaking deal is two decades in the making, and marks Russia’s first major step in shifting its political focus on Asia.
- Another Energy Spinoff: In June, Chesapeake Energy Corp. (NYSE: CHK) will spin off its oilfield services division. Under the new name Seventy Seven Energy, the new company will specialize in drilling operations, hydraulic fracturing, and equipment rentals. Last year, the division generated revenues of roughly $2.2 billion. It will trade on the New York Stock Exchange under the ticker SSE.
- The Satellite Megadeal: The boards of AT&T Inc. (NYSE: T) and DirecTV (Nasdaq: DTV) announced the agreement of a massive deal over the weekend. AT&T will purchase the nation’s largest satellite TV operator for $48.5 billion.
- A Truce For Now: Both Apple Inc. (Nasdaq: AAPL) and Google Inc. (Nasdaq: GOOG) announced plans to dismiss all lawsuits against each other. For years, the companies have battled it out in the courtroom over patents. In a joint statement, the two companies pledged to end nearly 20 lawsuits in the U.S. and Germany.
- Voters Turn Down a Raise: The Wall Street Journal reports that Swiss voters rejected a plan to raise the nation’s minimum wage to 22 Swiss francs, or $25, per hour. About 77% of voters opposed the hike, which would have created the highest minimum wage in the world.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.