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10 things you need to know in markets today



Presidential candidate Andres Manuel Lopez Obrador gestures as he addresses supporters after polls closed in the presidential election, in Mexico City, Mexico July 2, 2018. REUTERS/Goran Tomasevic
candidate Andres Manuel Lopez Obrador gestures as he addresses
supporters after polls closed in the presidential election, in
Mexico City


Good morning! Here’s what you need to know in markets on Tuesday.

1. Shares of Google’s parent company Alphabet jumped more
than 5% in after-hours trading Monday, hitting a new record high,
following the company’s second-quarter earnings report that
topped Wall Street’s expectations.
delivered another quarter of very strong performance,” Ruth
Porat, Alphabet’s chief financial officer, said in a press

2. U.S. President Donald Trump spoke warmly of Mexico’s incoming
leftist president on Monday, saying he expected to get “something
worked out” on NAFTA, while a top Mexican official said there was
scope to revive the trade talks this
“We’re talking to Mexico on NAFTA, and I
think we’re going to have something worked out. The new
president, terrific person,” Trump said.

3. Global bond markets were under strain on Tuesday amid talk of
central bank tightening and the risk of a robust reading on U.S.
economic growth later in the week.
Bond bulls were
still smarting from speculation that the Bank of Japan is close
to announcing measures to scale back its massive monetary
stimulus, a risk that lifted long-term borrowing costs

4. Bank of America has hired two veteran bankers to its media
& telecom business, according to an internal memo viewed by
Business Insider.

Sam Powers will start
in the fall as head of Americas Media & Telecom Investment

He’s joining the firm from UBS where
he led the Americas TMT group, advising on deals for clients like
Viacom and TPG. 

He will join Randy Russell, who
recently came on board the firm as a managing director in
the group. 

5. Deutsche Bank, which has been battling bad news for months, is
now in hiring mode.
German lender has hired
almost 800 new university graduates globally this year, its
second highest number ever and 25% more than last year, according
to internal figures seen by Business Insider and confirmed by a
bank spokesman. The bank held orientation for the class last

6. An Italian media outlet has reported that Fiat
Chrysler Automobiles CEO Sergio Marchionne has been admitted to
intensive care at a hospital in
Marchionne, 66, fell ill after
shoulder surgery and was replaced over the weekend as CEO of FCA
and also Ferrari.

7. Nike said on Monday it would raise wages for about 7,500
employees following a global pay review, two months after the
sportswear maker concluded a probe into workplace behavior that
resulted in the departure of a number of top
About 10% of its employees across
all levels and geographies will receive pay adjustments, a Nike
spokeswoman told Reuters.

8. Harley-Davidson will give investors on Tuesday a fresh look at
the impact of trade conflicts and a strong dollar on its profits,
and analysts are bracing for bad news and more
Analysts polled by Reuters, on
average, expect the Milwaukee, Wisconsin-based company to report
a profit of $1.34 per share, below the $1.48 per share reported
in the corresponding period a year ago.

9. The operator of a shuttered bitcoin-denominated exchange
pleaded guilty on Monday to federal charges that he defrauded
investors and lied to U.S. securities regulators investigating
the theft by hackers of virtual currency now worth about $46
Jon Montroll, 37, pleaded guilty to
securities fraud and obstruction of justice before U.S.
Magistrate Judge James Cott in Manhattan, federal prosecutors
said in a statement.

10. Volkswagen has hired BMW purchasing director Markus Duesmann
to fill the post of Audi chief executive, German daily
Handelsblatt reported on Tuesday.
sources close to the Volkswagen group, Handelsblatt said Audi
wants Duesmann to start as soon as possible.

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