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Wall Street fixed on Yellen after jobs debacle

Key Points


U.S. stock futures were higher this morning, with Wall Street coming off a mixed week. Investors look to Fed Chair Janet Yellen's 12:30 p.m. ET speech for what Friday's worst jobs report in more than five years means for a possible June interest rate hike. (CNBC)

Boston Fed President Eric Rosengren on Monday hinted a rate hike might not happen at next week's meeting. Meanwhile, Cleveland Fed President Loretta Mester said Saturday the May jobs report has not changed the overall economic picture . (Reuters)

Nearly 60 percent of business economists blamed uncertainty about the November election for damaging prospects for economic growth this year, according to a new survey. They marked down expectations for 2016 GDP to 1.8 percent. (CNBC)

Hillary Clinton, who won two weekend contests, prepares for tomorrow's big California primary, where the Democratic presidential front-runner and rival Bernie Sanders were locked in a statistical dead-heat. (CNBC)

Matt Damon branded Wall Street as a cabal that "steals people's money, " right before making a thinly veiled endorsement of Democratic Sen. Elizabeth Warren from Massachusetts. The Boston-bred actor has endorsed Clinton for president. (CNBC)

Jamie Dimon — who said Brexit would mean fewer jobs for in the UK — was taken to task by Boris Johnson. The former London mayor, a leading campaigner for Britain exiting the European Union, said EU policies have held back the UK. (CNBC)

Mark Zuckerberg had his Twitter, Instagram, and Pinterest briefly hacked over the weekend, according to various reports. A hacker group called OurMine reportedly took over those social media accounts of the Facebook (FB) founder. (CNBC)

Marwan Fawaz, a former top executive at Charter and Adelphia, has been tapped to run Nest Labs, the connected thermostat firm that Alphabet's (GOOGL) Google unit bought in 2014 for $3.2 billion. Nest founder and CEO Tony Fadell is leaving. (CNBC)

"Teenage Mutant Ninja Turtles: Out of the Shadows" debuted at No. 1 at the weekend box office, but with disappointing North America ticket sales of $35.3 million, becoming the latest sequel this year to miss expectations. (Variety)

JPMorgan is trying to bring a Silicon Valley sensibility to banking, recently loosening its dress code to allow employees to dress in business-casual attire when appropriate. (WSJ)


U.S. gasoline prices jumped 6 cents over the past two weeks to $2.37 per gallon, an increase that followed crude oil higher. Over the past 15 week, gas has spiked 60 cents.

Oil prices were higher this morning, lifted by a fall in the dollar that could spur demand, just as attacks on Nigerian oil infrastructure tighten supplies. But signs of recovering U.S. output capped gains.


Japan's Softbank added $1.1 billion to its recent sale of Alibaba (BABA) shares, bringing the total to $10 billion. The sale is expected to help reduce debt at Softbank, also a majority stakeholder in U.S.-based Sprint (S).

Viacom's (VIAB) controlling shareholder, Sumner Redstone, asked a court to deny legal challenges filed by CEO Philippe Dauman and a board member. The two are trying to prevent Redstone from removing them from the board of the trust that will ultimately control both Viacom and CBS (CBS).

BlackRock (BLK) announced the sale of a Singapore office tower to the Qatar Investment Authority for $2.5 billion. BlackRock said the sale was the largest ever for a single-tower real estate property in the Asia Pacific region.

Starwood Hotels (HOT) struck an agreement with Saudi Real Estate to build two hotels in Riyadh, in a district where the government has been planning an international business zone.


On Friday, politicians, celebrities, and fans are expected to attend a memorial service for Muhammad Ali — an event the three-time heavyweight boxing champion, who died last week, had requested be open to everyone. (AP)