- Asian markets were mostly up in overnight trading, with the Hang Seng up 2.44 percent. Europe is rallying on the Spanish bank bailout and U.S. futures are higher, but markets are losing their early gains. Italy has actually turned negative
- Spain managed to secure €100 billion in European aid to help recapitalize its banks over the weekend. But Spanish bond yields are higher this morning despite the bailout.
- China's exports climbed 15.3 percent year-over-year (YoY) in May, and imports rose 12.7 percent YoY, against last month's 0.3 percent rise. Meanwhile, Chinese new lending also beat analyst expectations.
- Apple's annual Worldwide Developers Conference (WWDC) kicks off today with a keynote address from CEO Tim Cook. Apple is preparing to release new software.
- In M&A news, General Electric is considering breaking off chunks of its lending business GE Capital on investor concerns that the conglomerate owns what essentially amounts to one of the nation's largest banks. Meanwhile, Goldman is close to a deal to sell its hedge fund administration business to State Street Corp.
- China released a slew of data this weekend, with industrial production rising 9.6 percent, retail sales up 13.8 percent, and year-to-date FAI up 20.1 percent, all on a year-over-year basis.
- Ratings agency S&P has warned that India may be the first BRIC nation to lose its investment grade status.
- French industrial production rose 1.5 percent in April from the previous month. The rise in industrial production was led by higher energy consumption.
- Italian Q1 GDP fell by 0.8 percent from the previous quarter, and 1.4 percent from a year ago, according to final results released by Italy's national institute for statistics.
- ASUS has confirmed the longstanding rumor than Google would partner with the company to launch its new tablet.
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