- Reuters/Mike Blake
Here is what you need to know.
The UK polls keep tightening. A YouGov poll released on Thursday shows Theresa May’s Conservative Party holds a 42% to 39% lead over Jeremy Corbyn’s Labour Party.
Iron ore had a brutal May. The commodity tumbled 17% in the month, and touched a seven-month low on Thursday.
Steve Ballmer is giving up on investing. In a discussion at the Code Conference, the former Microsoft CEO said, “I’m out of that investment thing.”
Mylan is being accused of overcharging the US government. Iowa Senator Chuck Grassley calculates the drugmaker overcharged the US government by about $1.27 billion for its life-saving anti-allergy medicine EpiPen.
Uber posts a loss. The ride-hailing startup lost $708 million, excluding stock compensation, in the first quarter. Additionally, the company said that Gautam Gupta, its head of finance, is leaving for an undisclosed startup.
Hewlett Packard Enterprise suffered a double-digit plunge in hardware sales. HPE said that revenue from its division that sells mostly server and storage products fell nearly 13% to $6.24 billion in the second quarter. Shares slipped about 3% after in extended trading on Wednesday.
Box beats. The cloud storage company announced an adjusted loss of $0.14 a share on revenue of $117.2 million.
Stock markets around the world are higher. Japan’s Nikkei (+1.1%) led the gains in Asia and France’s CAC (+0.6%) is out front in Europe. The S&P 500 is set to open little changed near 2,412.
Earnings reporting picks up a bit. Dollar General reports ahead of the opening bell while Lululemon, Restoration Hardware, and VMware release their quarterly results after markets close.
US economic data is heavy. ADP Employment Change will be released at 8:15 a.m. ET before initial claims and Markit US Manufacturing PMI cross the wires at 8:30 a.m. ET and 9:45 a.m. ET respectively. Then, at 10 a.m. ET, ISM Manufacturing and constructing spending are due out. US auto sales will be announced throughout the day. The US 10-year yield is up 1 basis point at 2.21%.