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Iran decision; Disney earnings; Big pharma deal

1. Iran decision: President Donald Trump will announce his decision on whether to scrap the Iran nuc...

Posted: May 8, 2018 10:22 AM
Updated: May 8, 2018 10:22 AM

1. Iran decision: President Donald Trump will announce his decision on whether to scrap the Iran nuclear deal at 2:00 p.m. ET.

Trump is widely expected to stop waiving sanctions on Iran's energy and banking sector that were lifted as part of the 2015 agreement in exchange for curbs on Tehran's nuclear program. US allies have urged Trump to stick with the deal.

Trump's decision could have a major impact on energy markets. Oil prices have surged nearly 13% over the past month to their highest level since 2014 on fears of supply disruptions.

"[The] decision on whether to pull out of the deal to limit sanctions on Iran in return for limits to its nuclear program will hang over markets," said Kit Juckes, a strategist at Societe Generale.

2. Disney earnings: Disney will report its quarterly earnings after the closing bell.

The company is likely to boast about the success of "Black Panther," which has made more than $688 million domestically. Its "Avengers: Infinity War" and the upcoming Star Wars movie "Solo" are also expected to be huge hits.

Investors will be looking for updates on Disney's plan to buy most of 21st Century Fox, which is scheduled to report on Wednesday.

Shares in Fox surged nearly 5% in extended trading after Reuters reported that Comcast is speaking to investment banks about obtaining financing to potentially crash the Disney-Fox deal.

3. Pharma deal: Japan's Takeda said it has finalized a deal to buy Dublin-based biotech firm Shire for -46 billion ($64.3 billion).

Shire's board had said that previous takeover bids from Shire had undervalued the company and put its future growth at risk.

Shares in Takeda gained 4% in Tokyo, while Shire stock was up 3.6% in London.

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

European markets opened mixed, following a mostly positive trading session in Asia.

The Dow Jones industrial average and the S&P 500 both gained 0.4% on Monday. The Nasdaq added 0.8%.

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5. Earnings and economics: Dean Foods, Discovery, DISH Network, Gray Television, Moneygram, SeaWorld Entertainment and TEGNA will release earnings before the open.

Bojangles', Electronic Arts, Etsy, Fossil, GoDaddy, La Quinta Holdings, Marriott, Papa John's, Potbelly, Sturm Ruger, TripAdvisor, Walt Disney, and Wendy's will follow after the close.

The US Labor Department will release its jobs openings report for March at 10:00 a.m. It comes just days after a strong jobs report. The unemployment rate dropped to 3.9% in April, the first time it's been below 4% since 2000.

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

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 217690

Reported Deaths: 2849
CountyCasesDeaths
Multnomah41633618
Washington27703258
Marion24391330
Clackamas19818241
Lane14732174
Jackson12414153
Deschutes1049387
Umatilla939694
Linn620281
Yamhill504281
Klamath492479
Douglas440787
Polk426957
Josephine410075
Malheur365967
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Jefferson248942
Coos228439
Columbia207632
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Wasco151931
Crook138524
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Morrow121717
Clatsop114510
Baker108217
Curry76812
Tillamook7415
Grant5597
Lake4878
Harney45511
Wallowa2256
Gilliam851
Sherman812
Wheeler381
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Cases: 3935590

Reported Deaths: 64341
CountyCasesDeaths
Los Angeles129039524658
Riverside3068364659
San Bernardino3058275236
San Diego2941763798
Orange2812285143
Santa Clara1228212099
Sacramento1146521775
Kern1129331420
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Alameda955391280
Ventura835231043
San Joaquin769151460
Contra Costa75842830
Stanislaus655371088
Tulare50324854
Monterey44438526
San Mateo44378588
San Francisco39939563
Solano35703261
Santa Barbara35546467
Merced32961484
Sonoma32526329
Imperial29048745
Placer24955307
Kings23566250
San Luis Obispo21970265
Madera16998249
Santa Cruz16532207
Marin14791239
Yolo14759215
Butte13176205
Shasta12925242
El Dorado11010120
Napa1040084
Sutter10126115
Yuba694951
San Benito626363
Lassen587626
Tehama583666
Nevada532475
Humboldt501053
Mendocino465851
Tuolumne446173
Lake415765
Amador386148
Siskiyou255440
Glenn246027
Colusa235718
Calaveras229558
Del Norte16128
Inyo145338
Mono13195
Plumas7656
Modoc5737
Mariposa4977
Trinity4596
Sierra1260
Alpine890
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