Tuesday 5 June 2018

U.S. stocks edge up as tech extends gains; bond yields fall

U.S. stocks edge up as tech extends gains; bond yields fall

NEW YORK (Reuters) - U.S. stocks mostly edged higher on Tuesday as technology shares extended recent gains while U.S. Treasury yields fell on safe-haven buying after Italy's new prime minister outlined new economic policies that could add to the nation's debt.

Wells Fargo pulls back from U.S. Midwest, selling 52 branches to Flagstar

(Reuters) - Wells Fargo & Co is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country.

Brent gains after reaching one-month low on supply concerns

NEW YORK (Reuters) - Brent crude reversed losses on Tuesday, after hitting its lowest price in nearly a month following a report that the U.S. government asked Saudi Arabia and other major exporters to increase oil output.

Expect frank trade talks at G7 summit: Canada official

OTTAWA (Reuters) - The Group of Seven leading industrial nations can expect frank discussions on trade at a summit this week, which U.S. President Donald Trump is expected to attend, a senior Canadian government official said on Tuesday.

G7 to pledge joint defense of democracies from foreign threats: EU official

BRUSSELS (Reuters) - G7 leaders will commit at their summit this week to cooperate in defending democracies from foreign threats and establish a response mechanism for that purpose, a senior EU official said on Tuesday.

G7 to uphold Russia sanctions: senior EU official

BRUSSELS (Reuters) - G7 leaders are likely to uphold sanctions against Russia over Moscow's annexation of Crimea and its activity in eastern Ukraine because the conditions to lift them, spelled out in the Minsk agreement, have not been met, a senior EU official said.

S&P rises; technology helps Nasdaq hit intraday record

(Reuters) - The S&P 500 edged slightly higher on Tuesday, on track for its third straight day of gains, while Nasdaq hit an intraday record high with help from the technology and consumer discretionary sectors.

G7 to call on North Korea to get rid of nuclear weapons: senior EU official

BRUSSELS (Reuters) - G7 leaders will call on North Korea on Friday to get rid of its nuclear weapons if it wants sanctions against the country to be lifted, a senior European union official said on Tuesday.

Two Allergan shareholders call for split of chairman-CEO role

(Reuters) - Two of Allergan Plc's shareholders, hedge funds Appaloosa Management and Senator Investment Group, asked the drugmaker's board to split the role of chief executive officer and chairman as well as reconsider its acquisition strategy.

U.S. companies continued stock buyback frenzy in May: report

(Reuters) - U.S. companies continued a shopping spree for their own shares in May, making $173.6 billion in buyback announcements, the highest monthly total ever, according to a research report.

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