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Reports US

US stock market, economy and companies update (May 26, 2014)

May 26, 2014, Monday, 19:23 GMT | 15:23 EST | 23:53 IST | 02:23 SGT
Contributed by Trade The News

US equity markets closed for holiday
- Indices [Stoxx50 +1.1%, FTSE 100 closed for holiday, DAX +1.3% at 9,893, CAC-40 +0.7% at 4,522, IBEX-35 +1.2% at 10,683, FTSE MIB +3.4% at 21,450, SMI unchanged at 8,705, S&P 500 Futures +0.4% at 1,903.6]
- US cash markets were closed for the Memorial Day holiday. The S&P500 in electronic trade continues to hit all-time highs as a confident tone prevailed aided the by European Parliamentary elections results. European anti austerity voice grew in volume but it was not enough to impact policy trend as major political equilibrium. Also aiding sentiment was the Ukrainian election results which gave pro-European businessman Poroshenko victory as its new president. President Putin reiterated he would respect the outcome of the Ukraine elections on Sunday.
- A sense of calm ensued the periphery bond markets following the weekend EU parliamentary elections. The peripheral spreads narrowed for Spain, Italy, Portugal and even Greece. EUR/USD gained 0.2% to move above the 1.3650 level

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- 12:45 (CH) Swiss Fin Min Widmer-Schlumpf at Europa Forum Luzern
- (PE) Peru Q1 GDP Y/Y: No est v 5.2% prior (to rebase GDP Indicators)

**Economic Data***
- (IL) Israel Apr Unemployment Rate: 5.6% v 5.7% prior
- (IL) Israel Central Bank left its Base Rate unchanged at 0.75%
- (BR) Brazil Apr Tax Collections (BRL): B v 105.0Be
- (MX) Mexico Apr Preliminary Trade Balance: +$509.6M v -$433.0Me

Fixed Income:
- (FR) France Debt Agency (AFT) sold approx. €7.79B vs. €6.6-7.8B in 3-month, 6-month and 12-month Bills