Iran deal fallout; Liberty sale; Fox earnings

1. Iran deal fallout: Oil prices have surged after President Donald Trump said the United States wou...

Posted: May 9, 2018 10:13 AM
Updated: May 9, 2018 10:13 AM

1. Iran deal fallout: Oil prices have surged after President Donald Trump said the United States would exit the Iran nuclear deal.

US crude futures jumped 3% on Wednesday to trade at $71 per barrel, their highest level since late 2014.

Trump said Tuesday that the United States would begin reinstating sanctions on Iran, raising fears of disruption in the oil market.

Iran ramped up production by about 1 million barrels a day after sanctions were eased in 2016. Some of that oil could now be pulled from the market - at a time when oil prices are already rising because of production cuts by OPEC and Russia as well as instability in Venezuela.

2. Vodafone-Liberty deal: American media mogul John Malone is selling a big chunk of his cable and broadband empire to UK telecoms operator Vodafone for close to -10.6 billion ($13 billion).

Vodafone is buying operations in Germany, the Czech Republic, Hungary and Romania from Malone's Liberty Global.

Vodafone CEO Vittorio Colao said the acquisition will make the company "Europe's leading next generation network owner, serving the largest number of mobile customers and households across the EU."

Shares in Vodafone jumped 1.8% after the announcement.

Malone's Liberty Media is a minority investor in Time Warner, the parent company of CNN, according to Liberty Media's website.

3. Fox earnings: 21st Century Fox is scheduled to report earnings after the closing bell, and investors will be hoping for more hints on its future.

Fox is mixed up in two complicated bidding wars, both as a buyer and a target.

It is competing with Comcast to buy the British pay-TV provider Sky. At the same time, Disney, which is trying to buy most of Fox, is now facing potential rival bid for the assets from Comcast.

Comcast is talking to investment banks about usurping the $52 billion Disney-Fox deal, three sources with knowledge of the matter told CNNMoney's Dylan Byers.

Shares in Comcast dropped 6% on Tuesday.

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

European markets and stocks in Asia struggled to find direction after Trump's bombshell Iran announcement.

The Dow Jones industrial average, the S&P 500 and the Nasdaq closed little changed on Tuesday.

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5. Earnings and economics: Anheuser-Busch InBev, Cars.com, Groupon, Office Depot, Party City, Sinclair Broadcast, and Toyota Motor will release earnings before the open.

21st Century Fox, CenturyLink, Hostess Brands, Roku, and Rosetta Stone will follow after the close.

Shares in TripAdvisor surged as much as 19% in extended trading after it reported better than expected earnings.

The US Bureau of Labor Statistics will publish its producer price index for April at 8:30 a.m. ET.

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

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

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 309841

Reported Deaths: 3569
CountyCasesDeaths
Multnomah50840642
Washington34683272
Marion32181388
Clackamas26315270
Lane23632246
Jackson20753255
Deschutes16401100
Umatilla12552125
Douglas10599185
Linn1030285
Josephine8536163
Yamhill737299
Klamath637891
Polk617770
Malheur475867
Benton454027
Coos406469
Columbia320237
Jefferson310446
Lincoln272829
Union266036
Wasco236739
Crook212137
Clatsop210225
Tillamook179623
Baker171920
Morrow166621
Curry166317
Hood River161635
Harney77115
Grant7538
Lake6608
Wallowa50111
Gilliam1364
Sherman1283
Wheeler651
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California Coronavirus Cases

Data is updated nightly.

Cases: 4636268

Reported Deaths: 67966
CountyCasesDeaths
Los Angeles144412725849
Riverside3575584802
San Diego3492274006
San Bernardino3468955501
Orange3135295354
Sacramento1498662070
Santa Clara1403871841
Fresno1356471889
Kern1343971515
Alameda1160681320
Ventura976231120
San Joaquin971621615
Contra Costa95595924
Stanislaus800341229
Tulare72812896
San Mateo52172607
San Francisco51808605
Monterey49445565
Solano44061312
Santa Barbara43065500
Sonoma39376376
Merced39279535
Placer36390364
Imperial34235755
Kings30038285
San Luis Obispo28273313
Madera21672258
Butte21205230
Shasta20647276
Santa Cruz20134211
Yolo19118239
Marin17080242
El Dorado15964127
Sutter13055153
Napa1224695
Yuba923461
Nevada845685
Humboldt826284
Tehama821184
San Benito708567
Mendocino681971
Lassen636827
Tuolumne612593
Lake601087
Amador489759
Glenn396430
Siskiyou388841
Calaveras339366
Del Norte334234
Colusa290718
Inyo166239
Mono14935
Plumas12336
Mariposa96712
Trinity71910
Modoc6278
Sierra1980
Unassigned1180
Alpine1000
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