But that's not all. Here's the rest of today's top stock market news, stocks to watch, ways to profit, and economic calendar for May 25, 2016.
Futures for the Dow Jones Industrial Average today (Wednesday, May 25) projected a 63-point rally on news the International Monetary Fund agreed to a "breakthrough" deal with Greece to address the beleaguered nation's ongoing debt challenges.
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In other market news, investors will be looking for an update on U.S. exports, while the latest FHFA report offers insight on price appreciation in the housing sector. Yesterday's strong report on new home sales offered a jolt for the economy and fueled greater expectations the U.S. Federal Reserve will raise interest rates in June or July.
Investors will also be watching speeches from a number of Federal Reserve members, including Philadelphia Fed Bank President Patrick Harker, Minneapolis Fed Bank Chief Neel Kashkari, and Dallas Fed Bank Chief Robert Kaplan.
On the deal front, there's another big shakeup at Hewlett Packard Enterprise Co. (NYSE: HPE). The firm said it will engage in a tax-free spin-off of its technology division and merge it with Computer Sciences Corp. (NYSE: CSC). The deal will move roughly two-thirds of HPE's workforce into the newly created firm. Shares of HPE stock were up nearly 10% in pre-market hours.
Meanwhile, Monsanto Co. (NYSE: MON) stock gained another 2.2% in pre-market hours after the firm rejected a $62 billion offer from German drug and chemical maker Bayer AG (OTCMKTS ADR: BAYRY). The global seed manufacturer said it will seek a higher price and continue negotiations on behalf of shareholders. Analysts expect that such a deal could receive regulatory approval.
WTI crude oil prices were pushing toward $50 per barrel as supply concerns abated around the globe. WTI gained 0.8%, while Brent crude pushed up 1.1%. Investors will be waiting for a key inventory report later this morning from the Energy Information Association (EIA) on crude stocks in the United States.
The big news in the energy sector this morning? Shares of Royal Dutch Shell Plc. (NYSE ADR: RDS.A) ticked up nearly 1% after the energy giant announced plans to cut 2,200 jobs to reduce costs in the face of lower oil prices.
Now, here's your list of top stocks to watch in today's market, plus today's economic calendar:
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.