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Opening Bell 5.29.18

Goldman Oil; Italian Elections; Giuliana jeers and More!

Welcome to our Memorial Day Weekend Roundup! Providing you with the best news you missed while you were barbequing and arguing with your brother-in-law!

Goldman Stays Oil Bull, Undaunted by Saudi-Russia Crude Plan [Bloomberg]

Goldman has been an oil bull since early last year, saying growing demand and output reductions by OPEC and its allies will help revive crude from the worst crash in a generation. Now, as prices retreat after surging to levels last seen in 2014, the bank’s sticking to its optimistic stance and sees the current decline as temporary. Its latest report follows another earlier this month, when it admonished money managers who cut their bullish bets on oil.

EU trade chief to meet U.S. peers Ross, Lighthizer in Paris on Wednesday [Reuters]

Europe’s top trade official Cecilia Malmstrom will meet U.S. counterparts Wilbur Ross and Robert Lighthizer in Paris on Wednesday, two days before a temporary reprieve from U.S. steel and aluminum tariffs is due to expire.

China's Equity Market Is About to Score a Rare and Timely Win [Bloomberg]

For only the third time since 2016, China’s domestic stocks are on track for a monthly gain that outpaces those listed offshore.

While the margin’s narrow, it’s a small win for mainland shares that bodes well for their big debut on MSCI Inc.’s global benchmarks this week. The Shanghai Composite Index is up 1.9 percent in May, on track to halt a three-month losing streak, while the MSCI China Index has gained 1.6 percent.

Fresh Elections in Sight for Italy After Political Crisis [WSJ]

Italian President Sergio Mattarella has asked Carlo Cottarelli, a former International Monetary Fund official, to try to form a new government, even as the country speeds toward fresh elections that could see Italy’s commitment to the single currency put to the test.

Rudy Giuliani gets booed on his birthday at Yankees Stadium [New York Post]

Former Mayor Rudy Giuliani celebrated his 74th birthday at Yankee Stadium on Monday — where the crowd gave him a big Bronx jeer for his big day.



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