Opening Bell 06.05.2018 - Dealbreaker

Opening Bell 06.05.2018

Tech triumphs; Mueller v. Manafort; OPEC orders; Mean Girls goes nuclear and more!
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Tech stocks at record high as FAANGs and BATTS bite [Reuters]

MSCI’s global tech index .dMIWO0IT00PUS scored the milestone as the FAANGs — Facebook, Apple, Amazon, Netflix and Google — looked set to drive the technology-heavy Nasdaq NQc1 to fresh highs when New Tork reopens shortly.

The upbeat mood had raised Asia’s big BATTS — Baidu, Alibaba, Tencent, Taiwan Semiconductor, Samsung — with Alibaba notching a new high and Baidu surging 5 percent in its best day in more than a month. [.SS]

U.S. Asks OPEC for 1 Million Barrel a Day Oil Output Hike [Bloomberg]

The rare request came after U.S. retail gasoline prices surged to their highest in more than three years and President Donald Trump publicly complained about OPEC policy and rising oil prices on Twitter. It also follows Washington’s decision to reimpose sanctions on Iran’s crude exports that had previously displaced about 1 million barrels a day, or just over 1 percent of global production.

Banks Pay Out Some of the Biggest Settlements in Wage Disputes [WSJ]

Financial-service companies occupy half the spots on a list of the 12 employers that paid the most in legal disputes over pay for workers since 2000, said Good Jobs First, an organization that tracks legal violations at large companies.

Lawsuits accusing companies of wage discrepancies are often filed by workers who say managers expected them to do job tasks after they clocked out, or failed to pay employees on the occasions they worked during rest and meal breaks. Workers also file cases alleging they worked extra hours but were shortchanged overtime pay or were misclassified as exempt from overtime.

Mueller’s Office Accuses Manafort of Trying to Tamper With Potential Witnesses [WSJ]

In a court filing late Monday, Mr. Mueller’s office sought to revoke Mr. Manafort’s release before his trial, saying he had tried to communicate with two contacts who had worked with him on a project at issue in the case.

The specific allegations involve Mr. Manafort’s dealings with “former senior European politicians” who allegedly worked with Mr. Manafort to secretly act as paid lobbyists for Ukraine.

“This is paul,” Mr. Manafort texted an associate who had allegedly helped arrange for the European politicians to contact American lawmakers directly, according to Mr. Mueller’s office. That contact, via an encrypted application, came just after related charges were filed against Mr. Manafort in February, prosecutors wrote.

Israel Responds With 'Mean Girls' GIF after Iran's Ayatollah Khamenei's Nuclear Threats [Newsday]

Khamenei sent out a series of bombastic tweets railing against Israel and the U.S. on Sunday in which Iran’s top leader said his Middle East neighbor is a “malignant cancerous tumor” in the region. In a speech Monday, Khamenei declared that any country firing a missile at Iran “will be hit by 10,” Reuters reported. But the Israeli embassy in Washington's official Twitter account shot back with a much more comedic tone, tweeting a GIF from the 2004 movie Mean Girls.

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