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U.S. Morning Call: Apple closer to streaming music service

Sunday, June 02, 2013 - 03:14

Jun 3 - While Apple prepares for its day in court over allegations that is conspired with publishers to raise e-books prices, the company secures a licensing deal with Warner Music Group.

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It's huge and we're getting into that low volume volatile season can stocks keep pushing higher. That's your morning call a look at futures this morning telling us we could see higher open for the first trading day of the month. Not the case in Japan opened a case falling three point 7% to a six week low on weak Chinese factory data. What's happening in Japan may not be too far off for US stocks. JPMorgan equity strategist Tom -- normally a market optimists as we could see it 10% correction. As investors only reluctantly believed in the US rally. And it's worrisome for stocks across the pond to. European shares extending losses the -- 300 index was down one point 1%. At one month low. Outside investors only reluctantly believe an SEC capital it seems billionaire Steve Cohen watching his bonds walked out the door. About three and a half billion dollars in investor redemptions set to hit the firm says the Wall Street Journal. That accounts for more than half of SEC capital outside investments. The mass pull out giving credence to the US government's long running insider trading investigation into the company. Code hasn't been charged but you might end up being the only one left 91 time employees of the firm have been implicated for criminal trading. And considering other redemptions. Money might be all that's -- to the fund to which amounts to roughly eight billion dollars. A couple of big companies headed to court today and we're watching the stocks. 1 apple goes to trial -- allegations by federal and state authorities that conspired with publishers to raise the prices ebooks from this from last April. If apple is found liable it could face damages and a separate trial by the state attorneys general and consumers pursuing class actions. The stock trading slightly higher in the premarket the buzz over apple getting closer to a new streaming music service for iTunes likely providing a lift. And keep that I -- -- today court proceedings begin today over eight and a half billion dollar settlement between Bank of America -- and the investors in mortgage securities. And I could get ugly. Sure slightly -- in the premarket head of the trial. Before we get the hotly anticipated jobs data later this week today it's all about the data of making stuff. We get a snapshot of US manufacturing from the institute for supply management. Economists polled by Reuters expect a reading of fifty point seven from day. Construction spending for building project is expected -- small higher in April after one point 7% drop in March. And the carmakers Chrysler Ford GM and a lot reports sales are projected to had to increase despite couple 100000. Last month. That -- Monday morning call remembered follow us on Twitter at Reuters Insider and get more great videos at twitter.com. Slash later. I'm -- to work.

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U.S. Morning Call: Apple closer to streaming music service

Sunday, June 02, 2013 - 03:14