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

Indiana Coronavirus Cases

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

Confirmed Cases: 33558

Reported Deaths: 2110
CountyConfirmedDeaths
Marion9616571
Lake3538185
Cass15897
Allen145168
St. Joseph124834
Elkhart116328
Hendricks116171
Hamilton115693
Johnson1093108
Madison58559
Porter51627
Bartholomew50034
Clark49241
LaPorte42423
Howard39526
Tippecanoe3903
Jackson3791
Delaware37736
Shelby36822
Hancock32728
Floyd31839
Boone30935
Morgan27824
Vanderburgh2652
Montgomery23517
White2318
Decatur22431
Clinton2231
Noble21121
Grant20621
Harrison19221
Dubois1923
Henry16910
Greene16824
Monroe16612
Warrick16628
Dearborn16621
Vigo1648
Lawrence15423
Miami1411
Putnam1367
Jennings1304
Orange12522
Scott1193
Kosciusko1111
Franklin1098
Ripley1086
Carroll922
Marshall901
Daviess8516
Steuben812
Newton7710
Wayne776
Fayette767
Wabash762
LaGrange712
Jasper651
Washington521
Jay500
Fulton481
Clay471
Rush462
Randolph463
Pulaski460
Jefferson431
Whitley393
Starke363
Sullivan341
Owen341
Brown331
DeKalb331
Perry310
Benton300
Knox290
Wells280
Huntington272
Tipton251
Crawford240
Blackford242
Fountain202
Switzerland200
Spencer191
Parke170
Posey160
Gibson142
Adams131
Ohio130
Warren121
Martin110
Vermillion100
Union80
Pike60
Unassigned0164

Illinois Coronavirus Cases

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

Confirmed Cases: 117455

Reported Deaths: 5270
CountyConfirmedDeaths
Cook762663570
Lake8063287
DuPage7543362
Kane6188170
Will5442269
Winnebago215654
McHenry151471
St. Clair109179
Kankakee87144
Kendall76919
Rock Island64624
Champaign6177
Madison56558
Boone42817
DeKalb3924
Sangamon34629
Jackson26810
Randolph2674
McLean21713
Peoria2128
Ogle2023
Stephenson1992
Macon19519
Clinton18117
Union1519
LaSalle14713
Whiteside13512
Iroquois1314
Coles12514
Unassigned1250
Out of IL1191
Warren1130
Jefferson10116
Knox970
Grundy952
Monroe9411
McDonough878
Lee791
Cass710
Tazewell714
Henry680
Williamson642
Pulaski510
Marion500
Jasper457
Macoupin452
Adams441
Perry420
Montgomery391
Vermilion391
Morgan351
Christian334
Jo Daviess320
Livingston322
Douglas260
Menard210
Fayette203
Ford201
Jersey201
Woodford192
Mason180
Washington180
Mercer170
Hancock160
Shelby161
Bureau151
Carroll142
Bond121
Franklin120
Piatt120
Schuyler120
Clark110
Crawford110
Fulton110
Moultrie110
Brown100
Cumberland100
Logan100
Wayne91
Alexander80
Henderson80
Effingham71
Johnson70
Massac70
Saline70
Greene50
Marshall50
De Witt40
Lawrence40
Richland30
Stark30
Clay20
Edwards20
Gallatin20
Hamilton20
Wabash20
White20
Calhoun10
Edgar10
Hardin10
Pike10
Pope10
Putnam10
Terre Haute
Clear
72° wxIcon
Hi: 75° Lo: 53°
Feels Like: 72°
Robinson
Scattered Clouds
74° wxIcon
Hi: 74° Lo: 53°
Feels Like: 74°
Indianapolis
Broken Clouds
70° wxIcon
Hi: 71° Lo: 50°
Feels Like: 70°
Rockville
Broken Clouds
69° wxIcon
Hi: 73° Lo: 51°
Feels Like: 69°
Casey
Scattered Clouds
73° wxIcon
Hi: 73° Lo: 53°
Feels Like: 73°
Brazil
Clear
72° wxIcon
Hi: 73° Lo: 52°
Feels Like: 72°
Marshall
Clear
72° wxIcon
Hi: 74° Lo: 52°
Feels Like: 72°
A wonderful Saturday with sunshine expected!
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events