United Technologies, Raytheon to create $120B defense giant: Morning Brief - Yahoo Finance

Monday, June 10, 2019

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WHAT TO WATCH

This week’s economic data and the ongoing trade war will be the focal points for market watchers.

Futures for all three of the major indices are up Monday after President Donald Trump announced on Friday evening that the U.S. and Mexico reached a deal. Dow futures (YM=F) were more than 200 points higher after the announcement. Trump said in a series of tweets that he would not be imposing a 5% tariff on Mexican goods, and additional details on the deal will be announced at an appropriate time.

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TOP NEWS

This combination of file pictures created on June 9, 2019 shows the Raytheon logo on a building in Annapolis Junction, Maryland, on March 11, 2019 and the United Technologies logo at the factory of United Technologies-owned Carrier, in Indianapolis, Indiana on January 10, 2018. (Photo credit JIM WATSON,NOVA SAFO/AFP/Getty Images)

United Technologies, Raytheon to create $120B giant: United Technologies Corp. (UTX) agreed on Sunday to combine its aerospace business with U.S. contractor Raytheon Co. (RTN) and create a new company worth about $121 billion, in what would be the sector's biggest ever merger. [Reuters]

China exports grow, but import slump: China's exports unexpectedly returned to growth in May despite higher U.S. tariffs, but imports fell the most in nearly three years in a further sign of weak domestic demand that could prompt Beijing to step up stimulus measures. [Reuters]

UK economy shrinks in April, in biggest fall since 2016: The UK economy shrank by 0.4% in April in its biggest contraction since March 2016, new data from the Office for National Statistics (ONS) shows. [Yahoo Finance UK]

New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.: American stock exchanges have emerged as the latest battleground in the ongoing political fight between the U.S. and China. Republican and Democratic lawmakers on Capitol Hill have aggressively moved forward with legislation that increases oversight for more than $1 trillion worth of U.S.-listed Chinese companies, putting stocks like Alibaba (BABA) in the spotlight and future listings on these exchanges in question. [Yahoo Finance]

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https://finance.yahoo.com/news/united-technologies-raytheon-to-create-120-b-defense-giant-morning-brief-102039945.html

2019-06-10 10:20:00Z
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