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Starbucks training; Italy drama; Oil slides

1. Starbucks' big day: Starbucks is closing around 8,000 of its company-owned US locations Tuesday f...

Posted: May 29, 2018 12:38 PM
Updated: May 29, 2018 12:38 PM

1. Starbucks' big day: Starbucks is closing around 8,000 of its company-owned US locations Tuesday for racial bias training. About 175,000 employees will participate.

The company announced the plan soon after two black men were arrested in a Philadelphia Starbucks while waiting for a friend. The incident sparked a public outcry and prompted an apology from CEO Kevin Johnson.

The training is one step in the company's reform effort. A new policy allows Starbucks customers to spend time in stores and use the bathroom without making a purchase is another.

Related: How Starbucks will train its staff to be less biased

2. Italy drama: Political uncertainty caused the benchmark Italian stock index to drop another 3% on Tuesday.

President Sergio Mattarella on Sunday refused to accept the nomination of a euroskeptic finance minister, prompting the anti-establishment Five Star Movement and far-right League party to give up trying to form an administration.

The country's uncertain future has unsettled investors. The gap between Italian and German bonds, which indicates how confident investors are about Italy's ability to repay its debts, has widened further.

"New elections are now more likely ... and the election itself [is] in danger of turning into a de facto referendum on Euro membership," said Kit Juckes, a strategist at Societe Generale.

The euro dropped 0.8% against the US dollar to $1.15.

Related: Italy's clash with the euro may just be getting started

3. Oil prices slide: US crude futures dropped 2% on Tuesday, the latest in a series of losses. Oil was trading at $66.50 per barrel.

Prices have plunged after Saudi Arabia indicated that OPEC and Russia could pump more oil in order to make up for lost supply from Venezuela and Iran.

OPEC producers and Russia are due to meet in Vienna on June 22 to discuss easing self-imposed supply caps, which have been in place since 2017.

The price of Brent crude, the international benchmark for oil, was $75.30 on Tuesday following several days of losses.

4. Pret sale: The owner of Krispy Kreme and Keurig has purchased UK sandwich chain Pret A Manger.

Investment company JAB acquired Pret from private equity owner Bridgepoint and minority shareholders. The price was not disclosed.

5. Global market overview: US stock futures indicated a lower open for markets following Memorial Day weekend.

Most major European and Asian markets were lower.

The Dow Jones industrial average and the S&P 500 shed 0.2% on Friday, while the Nasdaq added 0.1%.

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6. Earnings and economics: HP and Salesforce are set to release earnings after the close.

The latest reading of the Conference Board's Consumer Confidence Index will be published at 10 a.m. ET.

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7. Coming this week:
Tuesday - Consumer Confidence Index for May
Wednesday - Amazon, Exxon Mobil, Twitter, Walmart annual shareholder meetings; Fed discusses Volcker Rule
Thursday - Facebook annual shareholder meeting
Friday - US jobs report for May

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 259117

Reported Deaths: 5668
CountyCasesDeaths
DeSoto17436187
Hinds16524328
Harrison13876199
Rankin11000217
Jackson10652187
Lee8981141
Madison8413168
Jones6552112
Forrest6101121
Lauderdale6034189
Lowndes5463119
Lafayette507393
Lamar496465
Washington4877124
Bolivar4068109
Oktibbeha401681
Panola378380
Pontotoc372155
Monroe3628105
Warren3619101
Union350563
Marshall349569
Neshoba3433152
Pearl River3380104
Leflore3079108
Lincoln300687
Sunflower289272
Hancock285360
Tate276762
Alcorn268854
Pike266580
Itawamba266261
Scott253448
Yazoo250156
Prentiss249552
Tippah245850
Copiah244549
Coahoma243654
Simpson240069
Leake234367
Grenada221171
Marion218473
Covington216972
Adams210170
Wayne206432
Winston205267
George202739
Attala195761
Newton195745
Tishomingo192461
Chickasaw186144
Jasper176038
Holmes169868
Clay162735
Tallahatchie154935
Stone148424
Clarke143562
Calhoun138021
Smith125825
Yalobusha120234
Walthall113437
Greene112129
Noxubee111425
Montgomery110936
Carroll105922
Lawrence104317
Perry103231
Amite99926
Webster94324
Tunica87621
Jefferson Davis87327
Claiborne86825
Benton84023
Humphreys83624
Kemper79120
Quitman7029
Franklin68716
Choctaw62313
Wilkinson58825
Jefferson55920
Sharkey44217
Issaquena1606
Unassigned00

Alabama Coronavirus Cases

Cases: 432536

Reported Deaths: 6379
CountyCasesDeaths
Jefferson63523957
Mobile30967562
Madison27627201
Tuscaloosa21122268
Montgomery19495326
Shelby18941126
Baldwin16798188
Lee12901102
Morgan12447129
Etowah11911178
Calhoun11365205
Marshall10322119
Houston8813156
Limestone823176
Cullman8159106
Elmore8056104
DeKalb7796102
Lauderdale773399
St. Clair7705122
Talladega6347109
Walker5993174
Jackson590341
Colbert543274
Blount541186
Autauga527061
Coffee454160
Dale405482
Franklin371948
Russell345712
Chilton340972
Covington334168
Escambia328344
Dallas310196
Chambers297370
Clarke290536
Tallapoosa2665107
Pike258830
Marion250155
Lawrence249150
Winston231442
Bibb219848
Geneva206946
Marengo205229
Pickens198631
Hale180842
Barbour177836
Fayette174528
Butler171358
Cherokee162530
Henry157523
Monroe150718
Randolph143236
Washington139527
Clay128546
Crenshaw121644
Cleburne119724
Lamar119621
Macon119637
Lowndes112536
Wilcox105822
Bullock101428
Perry99118
Conecuh96320
Sumter89726
Greene76723
Coosa62215
Choctaw51624
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