Monday 21, May

Dow streak; Silver Lake goes shopping; JPMorgan in China

The Dow Jones industrial average closed 0.8% higher on Thursday, extending its winning streak to six days. That's the index's best run of consecutive gains since February.

The S&P 500 and the Nasdaq added 0.9%.

Stocks are benefiting from strong corporate earnings and higher oil prices. Data published Thursday show US inflation eased in April, reducing investor fears of accelerated interest rate hikes by the Federal Reserve.

US stock futures were flat on Friday.

2. JPMorgan tries again in China: America's biggest bank is taking another shot at China's huge financial markets.

JPMorgan Chase (JPM) is seeking approval from the Chinese government to launch a new brokerage in the world's second biggest economy, just weeks after Beijing relaxed restrictions on foreign ownership of financial companies.

This will be the second attempt by the Wall Street giant to gain a serious foothold in China. In late 2016, it pulled out of a joint venture in which it had a 33% stake.

3. Silver Lake snaps up Zoopla: US private equity firm Silver Lake is buying the owner of two UK real estate websites for £2.2 billion ($3 billion) in cash.

Shares in ZPG, which owns the popular real estate sites Zoopla and PrimeLocation, soared 30% in London following the announcement.

Zoopla provides users with property information, including house price estimates and market trends. Zoopla founder and CEO Alex Chesterman is also the founder of LoveFilm, a DVD-by-mail service bought by Amazon in 2011.

4. Global market overview: European markets were mostly lower.

Stocks in Asia ended mixed. Markets in mainland China dropped while stocks gained in Japan, Korea and Hong Kong.

US crude futures nudged higher to $71.40 per barrel.

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5. Earnings and economics: Thomson Reuters (TRI) is set to release earnings before the open.

The University of Michigan will publish its preliminary consumer sentiment report for May at 10:00 a.m. ET.

Canadian unemployment data will be released at 8:30 a.m.

European Central Bank President Mario Draghi will speak in Florence at 9:15 a.m.

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6. Coming this week: Friday — University of Michigan's consumer sentiment survey

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