Start the conversation
Dow Jones futures today, June 2, 2014: Dow Jones futures were up this morning (Monday) after the Dow Jones Industrial Average squeezed out a record-breaking close on Friday. The Standard and Poor's 500 followed suit, setting up for a positive start today following its own record-high on Friday. Nasdaq futures were also higher before market open.
Here's what you should know to make your Monday profitable:
- Looking at Lefty: The Federal Bureau of Investigation (FBI) and the Securities and Exchange Commission (SEC) are investigating whether PGA star Phil Mickelson and Las Vegas gambler Billy Walters traded on nonpublic information that they received from activist investor Carl Icahn. CNN reports that the insider trading focus centers on stock positions taken in 2011 after Icahn invested in The Clorox Company (NYSE: CLX).
- Slashing Emissions: In the most sweeping environmental regulations of the last few decades, U.S. President Barack Obama's administration will announce plans to slash greenhouse-gas emissions from U.S. power plants by up to 30% over the next 15 years. The cuts will apply to existing power plants across the nation, and will measure the reductions against 2005 emissions levels.
- The Digital Race Begins: According to a report by Gigaom, Google Inc. (Nasdaq: GOOG) will likely announce the timeline for Android TV at the I/O developer conference in late June. The digital television product will compete directly against Amazon.com Inc.'s (Nasdaq: AMZN) "Fire TV."
- Tech Geeks Unite: Shares of Apple Inc. (Nasdaq: AAPL) are hovering near a 78-week high. On Monday, the company will host WWDC, its annual development conference in San Francisco. During the five-day event, the company will unveil new devices and services, in addition to updates on the iPhone 6 and iOS 8.
- Banks Behaving Badly: On Saturday, New York state's top banking regulator, Benjamin Lawsky, demanded that BNP Paribas SA (OTC: BNPQY) fire as many as 12 executives as the bank attempts to settle charges that it violated U.S. economic sanctions by dealing in Sudan and Iran. The demands come at the same time that members of the Hollande government in France have criticized the United States for "unilaterally" targeting the nation's largest bank. The U.S. Justice Department is seeking at least $10 billion in a BNP settlement.
A busy economic calendar is in the line-up for today, plus this sweet pharmaceutical deal that just got even sweeter for investors...
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.