Global stocks rally; Apollo's photo deal; E3 begins
1. Stocks poised to jump: A stocks rally in Asia has set the tone for markets on Tuesday.
The Dow is poised to rise 80 points, or 0.3%, when US markets open. The S&P 500 could also jump 0.3%, while the Nasdaq could gain 0.5%.
Those gains follow a positive trading session in China, where the Shanghai Composite popped 2.6% after Beijing indicated it was ramping up stimulus efforts.
2. Apollo's photo deal: Private equity firm Apollo Global Management is going big on online photos.
The company announced late Monday that it's buying Shutterfly and Snapfish, and would combine the two photo businesses if the deals goes through.
The deal for Shutterfly values the company at $2.7 billion. Its shares are down 0.7% in premarket trading. Snapfish is not publicly traded.
3. E3 begins: The E3 gaming conference officially kicks off in Los Angeles on Tuesday.
Some companies got out ahead of the event with announcements. Microsoft pulled back the curtain on a new Xbox console, which will launch in 2020, over the weekend.
Still to come is Nintendo. The company's presentation is expected to focus on games.
4. Coming this week:
Tuesday — Uber CEO Dara Khosrowshahi at the Economic Club of Washington; Dave & Busters earnings; Tesla shareholder meeting; E3 gaming conference begins
Wednesday — US and Chinese inflation data; US oil inventories; Lululemon earnings
Thursday — German inflation data; Tesco and Broadcom earnings; OPEC report; European Union industrial production
Friday — US and Chinese retail sales; University of Michigan consumer sentiment