Welcome to a new edition of the Read Sunday’s newsletter, where we spotlight last week’s key headlines and futures events. This report provides a user-friendly format for your weekly dose of updates and insights from the realms of business and finance.

Markets

Tech Surge and Economic Optimism: The Bull Market Returns to S&P 500 Amid Global Uncertainty

Latest Headlines

• Saudi Arabia’s Major Production Cut Prompts Rise in Global Oil Prices. More

• SEC Files Lawsuit Against Binance, Alleging Illegal Operations and Fund Misuse in the Cryptocurrency Market. More

• SEC Files Lawsuit Against Coinbase, Escalating Regulatory Battle in Crypto Industry. More

• PGA Tour and LIV Golf Announce Merger to Form Expanded Golf Enterprise. More

• Merck Files Lawsuit Against Biden Administration Over Medicare's Drug Price Reduction Powers. More

• In its move to withdraw from the Italian retail banking sector, Barclays is in the process of offloading $5.3 billion worth of Italian mortgage loans. More

• Bank of Canada Resumes Hike, Raises Rates to Highest in 22 Years After Four-Month Hold. More

• China Sees a Decline in May Exports Due to Weakening Global Demand. More

• US Trade Deficit Expands to Half-Year Peak, Anticipated to Impact Economic Growth. More

• GM and Ford to use Tesla charging networks and technologies. More

Big Buyers

Mergers & Acquisitions

• The takeover of Credit Suisse by UBS could potentially be concluded as early as next week.

• Safran is negotiating the acquisition of Raytheon’s flight control unit, valued at $1 billion.

• Sequoia is dividing into three separate entities, including a distinct firm in China. More

• AES Secures Major Solar Plant Development in California. More

• Apple has purchased Mira, a Los Angeles-based Augmented Reality (AR) startup that develops headsets for the US military and various other businesses. More

This Weeks Upcoming Events

Earnings Call

• Monday 6/12 After Close: Oracle (ORCL)

• Thursday 6/15 Before Open: Kroger (KR)

• Thursday 6/15 After Close: Adobe (ADBE)

Big Meetings

• Fed meets June 13th, 2023

• UPS strike vote will be announced June 16th, 2023

Thanks for reading!

This newsletter is the brainchild of Read Sunday and William Lemanske, who you can also find on Twitter at @wmlemanske.

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