What you need to know before the US open
A subdued start’s expected for US markets, ahead of home sales numbers, and after European counterparts headed lower on the back of a slip in German business confidence. Stock futures inched higher this morning.
All eyes will be on the new house sales numbers, due out at 3pm. The numbers are of heightened importance, given the expectation of a bounceback and Fed chair Janet Yellen’s comments on softness in the housing market.
The euro trundled to a three-month low against the dollar, after Germany’s business sentiment survey came in below expectations.
Corporate news
The chief executive of Airbus Group, which owns Airbus, says it won’t allow a planned revamp of the latter’s A330 to stop it delivering profit improvements.
Russia and China have come to an agreement on a $25bn prepayment on a gas supply deal, Alexander Medvedev, chief executive of Gazprom Export, confirmed today.
Barclays has been fined £26m for internal failings that meant a trader could manipulate the setting of gold prices.
And shares in AstraZeneca are heading higher ahead of the deadline for Pfizer to officially shelve its bid to buy the UK drugs company. The deadline is Monday, and will mean Pfizer can’t put in another bid for six months.
Data in focus
• 3.00pm: US April new home sales