- Reuters/Lukas Barth
Here is what you need to know.
Theresa May secures a majority. UK Prime Minister Theresa May’s Conservative Party has secured a 1.5 billion pound agreement with the Democratic Unionist Party, giving it a two-seat majority in the House of Commons.
Italy is spending 17 billion euros to wind down 2 failing banks. The regional lenders Popolare di Vicenza and Veneto Banca are being wound down, and their good assets will be transferred to the nation’s biggest retail bank, Intesa Sanpaolo.
German business confidence is booming. The Ifo Business Climate survey hit a record 115.1 in June.
The US dollar is falling out of favor. Data released Friday by the US Commodity Futures Trading Commission showed that net long speculative positioning in the greenback fell for a fifth consecutive week, leaving it at its lowest levels since September.
Gold flash-crashes. The precious metal tumbled from $1,254 an ounce to $1,236 in seconds on Monday morning. It now trades down by 1.1%, or $14, at $1,242.
Ethereum flash-crash victims are getting their money back. People who lost money as a result of Ethereum’s flash crash on the GDAX exchange will be made whole, according to a blog post from the company. Last Wednesday, Ethereum crashed to $0.10 from $296 in minutes before recouping its losses.
Facebook is in talks to produce original TV-quality shows. The social-media giant is hoping to launch original programming by the end of the summer, according to Joe Flint and Deepa Seetharaman of The Wall Street Journal.
Under Armour’s CEO explains his comments on Trump. “It was unfortunate that my words got characterized in a way that were meant to be divisive in some way, shape, or form,” Under Armour CEO Kevin Plank told Willie Geist on NBC’s “Sunday Today” show. Plank’s comments were a follow-up to a statement he made in February in which he said a pro-business president was a “real asset for the country.”
Stock markets around the world are higher. China’s Shanghai Composite (+0.87%) led in Asia, and France’s CAC (+0.97%) is out front in Europe. The S&P 500 is set to open up 0.11% near 2,441.
US economic data flows. Durable-goods orders will be released at 8:30 a.m. ET, and Dallas Fed manufacturing will cross the wires at 10:30 a.m. ET. The US 10-year yield is up by 1 basis point at 2.15%.