Hello friends and Coins2Day readers.
Wall Street stock futures are higher today, while crude oil futures are lower on expectations that OPEC will decide to keep pumping flat out in a double-down effort to squeeze the U.S. Shale oil industry.
Today’s must-read story is from Coins2Day’s Nina Easton, introducing the woman who transforms Hillary Clinton’s rhetoric into policy. The sneak peak is the first in a Coins2Day series looking at the most influential women on Clinton’s 2016 team.
Here’s what else you need to know today.
1. Tim Cook savages Facebook and Google over privacy
Apple boss Tim Cook lashed out at Internet giants and government, calling them out for undermining constitutionally-guaranteed rights to privacy in a speech seemingly aimed at differentiating Apple’s corporate culture from the rest of Silicon Valley.
2. Nestle’s noodles are in hot water in India for the wrong reasons
Last year, it was China and fast-food sold through KFC and McDonald’s. Will this year’s stand-out food-safety scandal revolve around Nestlé’s noodles in India? Trouble has been brewing for the Swiss-based food giant for the last month, but has escalated sharply this week.
3. Jobs report preview.
Private payrolls processor ADP releases its May employment report today at 8:15 a.m. ET. Analysts expects the report to show that private firms added 200,000 jobs in May, a boost from the 169,000 positions added in April. ADP Chief Economist Mark Zandi said the disappointing showing in April was due to depressed oil prices and the surging value of the dollar which weighed on job creation. Zandi predicted that the effect would be temporary and job growth would reaccelerate this summer. The report precedes the Bureau of Labor Statistics report on Friday.
4. And more U.S. Economic data.
A host of U.S. Economic data comes out this week, leading up to the BLS jobs report on Friday. Look out for an update on the trade deficit from the Commerce Department at 8:30 a.m. ET. Economists expect the deficit to have dropped to $44 billion in April from $51.4 billion the month prior. Separately, at 10 a.m. ET the Institute for Supply Management releases its May non-manufacturing update. The index, where any reading above 50 represents expansion, is expected to have fallen to 57 from 57.8 in April
5. Lululemon Athletica shareholders meet.
Lululemon (LULU) shareholders gather in Vancouver for the company’s annual meeting. Over the past month, shareholders have been pushing for the athletic apparel maker to reform its corporate ways. Some investors have complained that there is a lack of transparency and the company needs to do more to improve its corporate governance. Lululemon avoided a proxy war last year after founder Chip Wilson agreed to sell half his stake to private equity firm Advent International, which two seats on the board. The board of directors promised it would commission an independent review of its policies and board make-up, but that hasn’t come to pass as of yet.
Additional reporting contributed by Reuters.