European Economics Preview: Eurozone Unemployment Data Due
Unemployment data from euro area is due on Tuesday, headlining a light day for the European economic news.
At 3.00 am ET, Spain unemployment data for March is due from the labor ministry. The number of unemployed increased by 44,400 in February.
At 4.00 am ET, the Society of Motor Manufacturers and Traders releases UK car registrations data for March.
In the meantime, Italy’s Istat publishes unemployment data for February. The jobless rate is seen unchanged at 9.0 percent.
Half an hour later, Eurozone Sentix investor confidence survey results are due. Economists expect the index to rise to 7.5 in April from 5.0 in March.
At 5.00 am ET, Eurostat releases euro area unemployment data for February. The jobless rate is seen unchanged at 8.1 percent.
At 8.30 am ET, the International Monetary Fund releases the World Economic Outlook.
Can Alex Rodriguez transform Timberwolves from miserable losers to lovable winners?
Alex Rodriguez would bring power and glamour to the Minnesota Timberwolves.
The NBA franchise located in Minneapolis needs an injection of money, excitement and a new ownership group’s immediate desire to have a winning product for its fans and players.
Rodriguez, the former MLB MVP, and billionaire business partner Marc Lore, an e-commerce entrepreneur, are closing in on a deal to buy the Timberwolves from Glen Taylor.
Since signing an exclusive letter of intent on Saturday to finalize a deal in 30 days, the two sides are motivated to close – a win-win for both parties. Taylor purchased the team in 1994 for $90 million and is expected to sell for nearly $1.5 billion, and Rodriguez and Lore have had their sights set on pro sports ownership, coming close to buying the New York Mets last year.
The Timberwolves need a jolt.
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Gold Futures Settle Lower
Gold prices drifted lower on Monday, pushing the most active gold futures contract to its lowest close in a week, due to a firm dollar and higher yields on U.S. Treasury Bonds.
Bond prices fell reacting to Federal Reserve Chairman Jerome Powell’s comments on Sunday that the central bank wants to see inflation rise above its 2% target for an extended period before the monetary policy committee considers a revision in rates.
Traders were also looking ahead to the inflation data, due out on Tuesday.
Gold futures for June ended down $12.10 or about 0.7% at $1,732.70 an ounce, the lowest close since last Monday (April 5).
Silver futures for May ended lower by $0.458 or 1.8% at $24.867 an ounce, while Copper futures for May settled at $4.0185 per pound, down $0.0215 or 0.5% from previous close.
On the data front, reports on consumer prices, retail sales, industrial production and housing stocks are due this week.
The Federal Reserve is scheduled to release its Beige Book, a compilation of economic evidence from the twelve Fed districts.
John Cornyn Asks If Biden Is ‘Really In Charge’ Because He Doesn’t Tweet A Lot
Sen. John Cornyn (R-Texas) spun a Politico article Monday about President Joe Biden’s limited participation on Twitter and cable news to criticize his leadership.
The article, “Biden White House media doctrine: Less can be more,” outlined the White House strategy to emphasize quality messaging over quantity, using Cabinet members to discuss policy when appropriate and having Biden speak directly to the camera on “marquee” issues.
Politico’s tone appeared more observational than critical, but Cornyn repurposed a passage into an indictment of the president.
Quoting an excerpt, Cornyn tweeted: “The president is not doing cable news interviews. Tweets from his account are limited and, when they come, unimaginably conventional. The public comments are largely scripted. Biden has opted for fewer sit down interviews with mainstream outlets and reporters.”
The senator then followed with his own words: “Invites the question: is he really in charge?”
The question invited harsh answers.
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Google rolling out Heads Up feature so you’re not distracted by your smartphone
Google is rolling out a new feature for Android users to prevent them from getting too distracted by their smartphones.
On a support page, the tech giant said it is providing the “Heads Up” feature through a beta program on its Digital Wellbeing app, which Android owners can use to keep track of their smartphone habits such as time spent on their device.
Here’s how it works: if you’re walking with your smartphone unlocked, the feature will ping you with a reminder to pay attention to your surroundings.
The feature is expected to work while Android users jog or run as well.
“The app uses sensors in your phone that detect movement to understand whether or not you’re walking, while the location is used to understand whether you’re walking indoors or outdoors,” reads the Google support page. Using location as part of “Heads Up” is optional, Google says.
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