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 1:18 PM
Updated: May 7, 2018 1:18 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%.

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

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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

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 296745

Reported Deaths: 6783
CountyCasesDeaths
DeSoto19731230
Hinds18881393
Harrison16780282
Rankin12787265
Jackson12643229
Lee9703161
Madison9484203
Jones8005147
Forrest7250138
Lauderdale6847227
Lowndes6033140
Lamar590980
Lafayette5747113
Washington5229130
Bolivar4620124
Oktibbeha442194
Panola432396
Pearl River4193132
Warren4138115
Pontotoc410771
Marshall404492
Monroe3993128
Union396474
Neshoba3822170
Lincoln3564104
Hancock350277
Leflore3389119
Sunflower319286
Tate303374
Pike301796
Scott295271
Alcorn292463
Yazoo290865
Itawamba290275
Coahoma282069
Tippah279565
Copiah279259
Simpson276680
Prentiss271158
Wayne254541
Leake253172
Marion252778
Covington249780
Grenada248578
Adams235078
George232445
Newton231252
Winston221979
Jasper213845
Tishomingo212965
Attala206870
Chickasaw201453
Holmes182770
Clay179251
Stone173029
Tallahatchie171439
Clarke169672
Calhoun158528
Smith153033
Yalobusha145536
Greene127933
Walthall124540
Noxubee123131
Montgomery122939
Perry122235
Lawrence120621
Carroll119025
Amite112235
Webster111132
Jefferson Davis102731
Tunica99523
Claiborne99129
Benton93924
Humphreys93027
Kemper90423
Quitman77414
Franklin76219
Choctaw69817
Jefferson62827
Wilkinson62427
Sharkey49117
Issaquena1676
Unassigned00

Alabama Coronavirus Cases

Cases: 498076

Reported Deaths: 10094
CountyCasesDeaths
Jefferson716711387
Mobile36294737
Madison32616468
Tuscaloosa24340421
Montgomery22739519
Shelby22174218
Baldwin19873289
Lee15039157
Calhoun13832293
Morgan13753254
Etowah13390325
Marshall11448211
Houston10124264
Elmore9483190
Limestone9420138
St. Clair9022227
Cullman8984182
Lauderdale8612214
DeKalb8489175
Talladega7606165
Walker6585259
Jackson6545104
Autauga632492
Blount6236127
Colbert6001121
Coffee5264103
Dale4671107
Russell406933
Franklin399878
Covington3993106
Chilton3898103
Escambia379173
Tallapoosa3622143
Clarke344053
Chambers3431111
Dallas3422142
Pike293373
Marion288695
Lawrence284985
Winston258368
Bibb246160
Geneva240370
Marengo238857
Pickens225457
Barbour213651
Hale212269
Fayette202057
Butler201466
Henry183541
Cherokee178039
Monroe166739
Randolph164840
Washington156836
Macon147745
Crenshaw146255
Clay145954
Cleburne139841
Lamar133733
Lowndes132751
Wilcox122925
Bullock117336
Conecuh107024
Perry106127
Sumter99732
Coosa90224
Greene88532
Choctaw55323
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