Oil price worries; PayPal's big deal; China-US trade

1. Oil spikes again: US crude futures hit their highest levels since late 2014 on Friday, trading at...

Posted: May 18, 2018 10:39 AM
Updated: May 18, 2018 10:39 AM

1. Oil spikes again: US crude futures hit their highest levels since late 2014 on Friday, trading at $71.60 per barrel. Prices of Brent crude, the international benchmark, topped $80 per barrel Thursday.

Oil prices have risen significantly in recent weeks, mostly because of concerns about Iranian supplies after President Donald Trump ditched the nuclear deal, and a collapse in Venezuelan production.

The rise is starting to trouble big energy consuming nations. India's energy minister said he called his Saudi Arabian counterpart late on Thursday to express his concern.

2. PayPal's biggest takeover: PayPal announced Thursday that it is buying iZettle for $2.2 billion. It's the online payments firm's biggest ever acquisition and gives the company a bigger footprint in physical stores.

A Swedish startup, iZettle provides small businesses with card readers that can be connected to smart phones and tablets. It also offers platforms for sales and inventory tracking.

3. China-US trade talks: US officials said Thursday that China had proposed boosting its imports of American goods by around $200 billion in an attempt to reduce the massive trade imbalance between the two countries. China bought $130 billion of American goods last year, according to US government figures.

However, Chinese Foreign Ministry spokesman Lu Kang denied on Friday that such an offer had been made. "These rumors are not true," he said.

The world's two biggest economies have been locked in a trade dispute for months. A top level Chinese delegation is in Washington for trade talks this week. Thursday's meetings included one in the Oval Office between Trump and Chinese Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping.

The talks are set to continue on Friday. Lu described them as "constructive."

4. Global market overview: US stock futures were trading higher early on Friday. European markets opened mostly lower, while stocks in Asia ended the session mixed.

The Dow Jones industrial average and the Nasdaq both shed 0.2% on Thursday. The S&P 500 closed 0.1% lower.

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5. Earnings and economics: Campbell Soup and Deere are set to release earnings before the open Friday.

Canadian inflation statistics for April will be released at 8:30 a.m. ET.

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6. Coming this week:
Friday - Campbell Soup earnings

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 142311

Reported Deaths: 2472
CountyConfirmedDeaths
Hennepin35484995
Ramsey14726372
Dakota10271139
Anoka9344155
Washington636273
Stearns625550
Scott360436
Olmsted340230
St. Louis325874
Wright273116
Clay252944
Nobles234318
Blue Earth21147
Carver18887
Sherburne183122
Kandiyohi18215
Rice170210
Mower154518
Winona133619
Chisago11562
Crow Wing114322
Benton103311
Lyon10306
Beltrami9618
Otter Tail9508
Waseca94510
Todd8967
Polk8364
Morrison8259
Steele8013
Itasca78817
Douglas7744
Nicollet77118
Freeborn7185
Le Sueur6646
Goodhue65111
Martin62618
Becker6214
McLeod6214
Isanti5995
Watonwan5824
Pine5770
Carlton5092
Chippewa4733
Mille Lacs44918
Hubbard4344
Cass4225
Wabasha4141
Dodge4130
Pipestone36617
Meeker3593
Rock3595
Brown3483
Roseau3300
Redwood29912
Yellow Medicine2986
Murray2973
Cottonwood2950
Fillmore2770
Renville27213
Sibley2663
Wadena2643
Faribault2520
Houston2381
Unassigned23853
Kanabec23710
Swift2252
Jackson2211
Pennington2181
Aitkin1982
Stevens1941
Lincoln1930
Koochiching1755
Pope1680
Big Stone1591
Marshall1511
Lac qui Parle1453
Wilkin1454
Clearwater1381
Norman1340
Lake1330
Mahnomen1292
Grant1054
Red Lake822
Traverse590
Kittson530
Lake of the Woods441
Cook190

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 122218

Reported Deaths: 1691
CountyConfirmedDeaths
Polk19732289
Woodbury743799
Linn6038133
Johnson602431
Black Hawk5974102
Dubuque550658
Scott487343
Story411118
Dallas357347
Pottawattamie337845
Sioux254417
Buena Vista230212
Marshall212236
Webster196015
Plymouth172831
Wapello158962
Clinton156228
Muscatine153958
Des Moines151611
Cerro Gordo150227
Crawford138714
Warren13137
Carroll120413
Jasper119734
Henry11245
Marion106811
Lee101312
Tama100538
Delaware82713
Dickinson7939
Wright7591
Boone7509
Mahaska73824
Bremer7199
Harrison69716
Washington69311
Jackson6853
Benton6482
Lyon5688
Clay5574
Louisa54415
Winnebago52119
Cedar5087
Winneshiek5079
Hardin5017
Jones5004
Kossuth4970
Clayton4923
Buchanan4875
Hamilton4825
Poweshiek47611
Floyd46211
Emmet45321
Iowa4429
Cass4233
Mills4233
Guthrie42015
Page4200
Cherokee4122
Sac4114
Butler4083
Fayette4064
Shelby4022
Allamakee3999
Franklin39518
Madison3743
Chickasaw3731
Hancock3676
Humboldt3593
Clarke3573
Grundy3406
Palo Alto3292
Calhoun3264
Osceola3020
Mitchell2961
Howard2879
Monroe27212
Union2645
Taylor2602
Jefferson2591
Appanoose2503
Monona2492
Pocahontas2442
Fremont2152
Lucas2136
Ida2122
Adair1971
Greene1930
Montgomery1907
Davis1884
Van Buren1882
Keokuk1731
Decatur1620
Audubon1601
Worth1470
Wayne1373
Ringgold992
Adams841
Unassigned60
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