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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Wednesday, May 4, 2016

10 things you need to know before the opening bell (spx, spy, qqq, dia, bud, jpb, c, bac, gs)

[Kentucky Derby]AP/Charlie Riedel Here is what you need to know. TRUMP IS THE REPUBLICAN PARTY'S PRESUMPTIVE PRESIDENTIAL NOMINEE. Donald Trump delivered the knockout blow Tuesday evening in Indiana's primary. He claimed 51 delegates while taking 53.3% of the vote. Trump's victory forced Sen. Ted Cruz to suspend his campaign and caused Reince Priebus, the chairman of the Republican National Committee, to tweet, ".@realDonaldTrump will be presumptive @GOP nominee, we all need to unite and focus on defeating @HillaryClinton #NeverClinton." On the Democratic side, Sen. Bernie Sanders won Indiana, taking at least 43 of the 83 available delegates. THE ECB'S STIMULUS IS FINALLY STARTING TO SHOW IT'S WORKING. Markit's latest services PMI data showed "tepid" but "sustained" growth in the eurozone. April's final reading slipped to 53.1 on expectations it would inch up from 53.2 to 53.3. While the number was down from the preliminary reading, it showed healthy expansion in the region's services sector. According to a statement accompanying the release, "The 'big-four' nations all reported expansions of economic activity in April, with Spain seeing the steepest rate of increase." The euro is weaker by 0.2% at 1.1479. THE US DOLLAR TICKS OFF 16-MONTH LOWS. The US dollar index trades up 0.3% at 93.25. The bid comes after Tuesday's early slide that pushed action to its lowest level in 16 months. Traders will be watching resistance in the 94.00 area entering Friday's jobs report. 7 BANKS HAVE AGREED TO SETTLE RATE-RIGGING CLAIMS. Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan Chase & Co., and Royal Bank of Scotland Group have agreed to pay $324 million to settle claims they participated in a conspiracy to rig the ISDAfix benchmark from 2009 to 2012. The suit, which was brought by several pension funds and municipalities, claimed that during that time the banks used chatrooms to fix the IDSAfix, a benchmark used to price swaps and interest-rate derivatives. HSBC, Morgan Stanley, BNP Paribas, Goldman Sachs, Nomura, UBS, Wells Fargo, and ICAP haven't yet settled their claims. ANHEUSER-BUSCH INBEV MISSED BIG ON EARNINGS. The world's largest brewer announced earnings of $0.51 a share, missing the Wall Street estimate of $0.87 by a wide margin. Revenue sank 10.1% versus a year ago to $9.40 billion, which was shy of the $9.56 billion anticipated by the Bloomberg consensus. Anheuser-Busch said beer volumes fell 1.4%, driven by weakness in Brazil. The stock is down 3.7% ahead of the opening bell. TAKATA COULD ANNOUNCE SIGNIFICANT RECALLS. Bloomberg reports that the airbag maker is in talks with US regulators, which could produce millions more recalls. Bloomberg, citing The Wall Street Journal, says 35 million more airbags could be recalled on top of the 28.8 million that already have been. At least 10 deaths have been attributed to the faulty devices, Bloomberg says. AEROPOSTALE HAS FILED FOR BANKRUPTCY. The teen retailer has filed for Chapter 11 bankruptcy. Reuters reports that a court filing shows that Aeropostale listed both assets and liabilities of $100 million to $500 million. STOCK MARKETS AROUND THE WORLD ARE LOWER. Australia's ASX (-1.5%) led the way lower overnight, and the Britain's FTSE (-1.2%) paces the decline in Europe. S&P 500 futures are down 14.25 points at 2,042.75. EARNINGS REPORTING REMAINS HEAVY. Priceline and Time Warner highlight the names releasing their quarterly results ahead of the opening bell. 21st Century Fox, Allstate, Kraft Heinz, MetLife, Prudential, Tesla Motors, and Whole Foods are among the companies reporting after markets close. US ECONOMIC DATA PICKS UP. ADP employment change will cross the wires at 8:15 a.m. ET ahead of productivity, unit labor costs, and the trade balance, which are all set for an 8:30 a.m. release. Then, at 10 a.m. ET, factory orders and ISM services will be announced. Data concludes with the 10:30 a.m. ET announcement of natural-gas inventories. The US 10-year yield is unchanged at 1.80%. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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