STREAMING NOW: Watch Now

Starbucks-Nestle deal; Oil tops $70; Air France crisis

1. Coffee deal: Nestle agreed Monday to pay $7.2 billion to sell and distribute Starbucks' packaged ...

Posted: May 7, 2018 2:18 PM
Updated: May 7, 2018 2:18 PM

1. Coffee deal: Nestle agreed Monday to pay $7.2 billion to sell and distribute Starbucks' packaged products around the world.

Nestle already has a significant presence in the coffee business with well-known brands like Nescafe and Nespresso. It's now adding Starbucks coffee and tea products to the list.

The agreement only covers Starbucks' packaged goods sold outside the US company's stores. It doesn't include Starbucks' ready-to-drink coffee, tea or juices.

2. Oil surge: US crude oil futures jumped almost 1% to top $70 per barrel for the first time since 2014.

Investors are worried that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed the country to export more crude.

The return of sanctions could disrupt global oil supplies.

"It's difficult to estimate the impact on Iranian oil exports. However, prices may remain elevated and even reach $80 in the short run," said Hussein Sayed, chief market strategist at FXTM.

US oil prices have gained more than 16% since the start of the year. Brent oil, the global benchmark, is up around 13%.

3. Air France crisis: Shares in Air France-KLM dropped over 13% after the carrier's CEO quit in a dispute over worker pay.

Jean-Marc Janaillac said on Friday he would resign after failing to reach a deal with employees who have been striking for two weeks.

The airline said it expects to operate only 85% of its flights on Monday and Tuesday because of ongoing strikes.

French economy minister Bruno Le Maire told French TV station BFMTV on Sunday that the airline could "disappear" if the crisis isn't resolved.

The French government owns 14.3% of the airline. Delta and China Eastern each own 8.8% stakes.

4. Global market overview: US stock futures were higher.

European markets were mixed, with exchanges in the United Kingdom and Ireland closed for a holiday.

Stocks in Asia ended the session with gains.

The Dow Jones industrial average shot up 1.4% on Friday, while the S&P 500 added 1.3% and the Nasdaq gained 1.7%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Earnings and economics: Gannett, Scripps, and Tyson Foods will release earnings before the open. AMC Entertainment and Zillow will follow after the close.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

6. Coming this week:
Monday - AMC earnings
Tuesday - Disney, Sturm Ruger earnings; JOLTS
Wednesday - 21st Century Fox earnings; PPI
Thursday - CPI
Friday - University of Michigan's Consumer Sentiment survey

Terre Haute
Overcast
34° wxIcon
Hi: 37° Lo: 23°
Feels Like: 25°
Robinson
Overcast
34° wxIcon
Hi: 36° Lo: 21°
Feels Like: 23°
Indianapolis
Overcast
37° wxIcon
Hi: 37° Lo: 26°
Feels Like: 26°
Rockville
Overcast
32° wxIcon
Hi: 36° Lo: 23°
Feels Like: 23°
Casey
Overcast
34° wxIcon
Hi: 36° Lo: 22°
Feels Like: 22°
Brazil
Overcast
34° wxIcon
Hi: 36° Lo: 23°
Feels Like: 25°
Marshall
Overcast
34° wxIcon
Hi: 36° Lo: 22°
Feels Like: 25°
Cloudy, chance of evening showers.
WTHI Planner
WTHI Temps
WTHI Radar

Latest Video

Image

Sunday Evening Forecast

Image

Scam Alert: Fake vaccine trials

Image

Bridgeton Country Christmas continues

Image

Safety rules in place at local tree farm

Image

Police search for attempted armed robber

Image

$5,000 grant supports trail project

Image

Winter Precipitation Explainer

Image

Pretty holiday lights to brighten your spirit

Image

JOEY SHEW SIGNS WITH ISU

Image

Sunday Morning Forecast Update

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Cases: 712936

Reported Deaths: 12838
CountyCasesDeaths
Cook3015826568
DuPage44656786
Will38291563
Lake36845631
Kane31493466
Winnebago18680262
Madison14210253
McHenry14182156
St. Clair13185259
Champaign1068657
Sangamon1003899
Peoria8997131
Kankakee8548103
Rock Island8532134
McLean830054
Tazewell6710104
Macon6423132
Kendall621647
LaSalle6041133
DeKalb494747
Adams469548
Boone387133
Vermilion385451
Whiteside3713115
Williamson355782
Coles328459
Clinton327961
Ogle281536
Knox277465
Effingham275621
Grundy273918
Henry265015
Jackson264436
Marion245551
Stephenson243335
Randolph224226
Livingston223427
Morgan218636
Macoupin218418
Bureau209443
Monroe206045
Franklin202125
Lee198934
Christian188243
Jefferson185159
Woodford172427
Fayette170529
Logan168013
Iroquois166426
McDonough157541
Fulton143511
Shelby136626
Douglas134716
Jersey122124
Union117928
Montgomery114119
Crawford111713
Saline110725
Perry108123
Warren107120
Jo Daviess106517
Carroll106324
Lawrence104211
Bond104010
Pike100627
Cass95723
Hancock94712
Wayne89533
Moultrie88610
Clay83620
Greene82131
Edgar79715
Clark79420
Piatt7755
Richland75119
Ford74322
Mercer73910
Johnson7126
Mason71219
Washington6842
Jasper63911
Cumberland61016
White6098
De Witt60517
Massac5863
Wabash5358
Menard4631
Pulaski4112
Unassigned4100
Marshall4036
Hamilton3853
Brown3224
Henderson2861
Schuyler2671
Stark2623
Alexander2532
Putnam2420
Calhoun2350
Scott2310
Edwards2253
Gallatin1913
Hardin1531
Pope1011
Out of IL100

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Cases: 329008

Reported Deaths: 5663
CountyCasesDeaths
Marion44793862
Lake28485466
Allen19005303
Elkhart17828233
St. Joseph17409235
Hamilton13830170
Vanderburgh10166127
Tippecanoe907430
Porter865088
Johnson6866169
Hendricks6516158
Vigo634791
Monroe555550
Clark536278
Madison5335122
Delaware5130103
LaPorte486297
Kosciusko477541
Howard370378
Bartholomew340965
Warrick340173
Floyd332578
Wayne332384
Marshall314946
Cass306331
Grant290350
Hancock279357
Noble267047
Henry259037
Boone258855
Dubois247732
Dearborn233631
Jackson230634
Morgan226443
Gibson198229
Knox195221
Shelby194957
Clinton186822
DeKalb186733
Lawrence186049
Wabash175222
Adams173823
Miami173817
Daviess164945
Fayette155434
Steuben155115
Jasper153613
Montgomery152129
Harrison149924
LaGrange149331
Ripley148019
Whitley144315
Huntington136310
Decatur135643
Putnam133428
White133422
Wells132330
Clay130924
Randolph130321
Jefferson127016
Posey126918
Scott118021
Greene108553
Sullivan104416
Jay103314
Starke96124
Jennings93214
Spencer8998
Fulton87819
Perry86121
Fountain8288
Washington8267
Franklin74027
Carroll72913
Orange71028
Vermillion6777
Owen6528
Tipton61127
Parke6086
Newton57912
Rush5768
Blackford57112
Pike53720
Pulaski43415
Martin3776
Benton3703
Brown3645
Crawford3141
Union2822
Switzerland2705
Warren2583
Ohio2417
Unassigned0269