With around seven thousand troops at the ready on Ukraine's
border, many are wondering why Russian President Vladimir Putin has
been ignoring pro-Moscow separatists' pleas for help.
Ukrainian forces launched a renewed offensive over the weekend
following a week long ceasefire and pushed the separatists out of
Slovyansk on Saturday. Putin could be trying to avoid further
sanctions from the West, which threaten to do lasting damage to
Many believe that Moscow was solely interested in Crimea, which
was annexed in March, leaving no reason to pursue the conflict any
In other news around the markets:
On Monday, Standard General confirmed that it was working together
with American Apparel (NYSE:
) to help the company pay off a $10 million loan from Lion Capital
and mend the division in its leadership. After American Apparel's
founder Dov Charney was asked to leave the company last month, he
made a deal with Standard General, effectively giving the hedge
fund control of 43 percent of the company's shares. Tension between
the U.S. and Germany rose on Monday after news broke that the U.S.
participated in a spying operation against Germany. According to
The Wall Street Journal
, U.S. officials confirmed that the CIA was receiving classified
information from an official working for Germany's Federal
Intelligence Service. On Tuesday, Japan's current account data
showed that the nation's trade deficit declined in May due to
falling imports. Imports were down 0.4 percent while exports rose
just two percent. The lack of domestic demand is something
the government will have to keep an eye on in the coming months as
export growth has been declining, leaving very little for the
country to depend on. Many are beginning to doubt Samsung
) as a leader in the smartphone industry after the company posted
worse than expected earnings and guidance on Tuesday. The
company is plagued by rival Chinese companies that are offering
cheaper phones and could suffer in the coming months as Apple is
set to release the latest version of its iPhone.
Asian markets were mixed; the NIKKEI lost 0.42 percent and the
Hang Seng index was down 0.10 percent, but the Shanghai composite
was up 0.20 percent, the KOSPI gained 0.08 percent and the Shenzhen
composite was up 0.70 percent.
European markets were moderately lower; the FTSE was down 0.16
percent, the STOXX 600 fell 0.12 percent, the DAX lost 0.18
percent, the MIB was down 0.24 percent and the IBEX lost 0.15
Energy futures were lower; Brent futures lost 0.36 percent and
WTI futures were down 0.14 percent. Gold and silver were up 0.20
percent and 0.34 percent respectively and industrial metals were
higher with the exception of tin, which lost 0.44 percent. Copper
was up 0.43 percent, aluminum gained 0.05 percent and zinc rose
Currency markets were quiet on Tuesday; the euro was trading at
$1.3591 and lost 0.14 percent against the pound. The dollar fell
0.03 percent against the yen, 0.05 percent against the pound and
0.18 percent against the Australian dollar.
No notable earnings were released on Monday
Stocks moving in the Premarket included:
Transocean Ltd (NYSE:
) was up 0.09 percent in premarket trade after falling 0.90 percent
on Monday. Verizon Communications (NYSE:
) was down 0.37 percent in premarket trade after rising 0.59
percent over the past week.
Notable earnings releases expected on Tuesday include:
) is expected to report second quarter EPS of $0.12 on revenue of
$5.66 billion, compared to last year's EPS of $0.07 on revenue of
$5.85 billion. Bob Evans Farms (NASDAQ:
) is expected to report fourth quarter EPS of $0.42 on revenue of
$333.31 million, compared to last year's EPS of $0.71 on revenue of
Notable economic releases expected on Tuesday include US oil
inventory data, the US Redbook, British industrial production,
British manufacturing production, and the German trade balance.
For a recap of Monday's market action, click .
Tune into Benzinga's #PreMarket Prep today to hear Ann Logue,
Dan Zanger & David Grau by clicking
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