A disastrous trading day on Friday has not carried over to Monday, at least not so far. Stock index futures are basically flat, and some large banks in both the U.S. and Europe are showing strength in pre-market trading.
The buzz on Monday is that European leaders could come together to find a larger solution to the region’s problems — of course, we’ve heard that story before. German leaders have been pushing Spain to accept money from the European Financial Stability Facility, Der Spiegel reported, but Spain isn’t interested so far.
China’s non-manufacturing PMI slipped in May, another downbeat data point from that country.
Dow futures were flat; S&P 500 futures rose 2.8 points. Treasury yields nudged slightly higher.
Some big European banks are trading higher, with Deutsche Bank (DB) up 3.5% and ING Groep (ING) rising 4%. Bank of America (BAC) rose 0.7% in pre-market action.
Chesapeake Energy (CHK) rose 2.8% after announcing changes to its board.
AutoNation (AN) rose 5.7% after reporting strong vehicle sales.
Immunogen (IMGN) rose 7.2% on strong clinical data.
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