| | | | | | | | | | | | | 10 Things Before the Opening Bell | | |
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Here is what you need to know. Theresa May steps down. Britain's prime minister says she'll leave her post on June 7. Trump's tariffs could cost US households more than $800 a year. President Donald Trump's recent increase in tariffs on Chinese goods mean the average US household will pay an extra $831 a year, according to an estimate from a study released Thursday by economists at the Federal Reserve Bank of New York, Columbia, and Princeton. The 10-year hits its lowest level since November 2017. The benchmark 10-year yield fell by as many as 9 basis points on Thursday to a low of 2.29%. On Friday, it is up 1.2 basis points at 2.33%. Oil is on track for its biggest weekly loss of the year. Oil prices have slumped 7% this week and are on track for their biggest weekly drop since December. Tesla's losing streak is over. Shares plunged 17% during the six-day skid, wiping out more than $7 billion worth of investor wealth. Hedge funds love these 17 stocks. Goldman Sachs has identified a list of the 17 stocks that have high hedge-fund ownership, which is usually a signal of future gains. US markets are closed Monday in observance of Memorial Day. They will reopen Tuesday. Stock markets around the world were higher. Hong Kong's Hang Seng (+0.32%) paced the advance in Asia, and France's CAC (+0.82%) was out front in Europe. The S&P 500 is set to open up 0.52% near 2,837. Earnings reporting is light. Foot Locker releases its first-quarter results ahead of the opening bell. US economic data trickles out. Durable-goods orders will be released at 8:30 a.m. ET. |
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