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International stocks gain...US factory orders due...China manufacturing contracts



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BEIJING (AP) — International stock markets were mostly higher today after Wall Street rebounded and China's leaders promised to shore up slowing growth. Futures point to modest opening gains on Wall Street. Benchmark U.S. crude oil inched ahead, remaining above $59 a barrel. The dollar weakened against the yen and gained against the euro.

WASHINGTON (AP) —The only government report due out today is from the Commerce Department. It covers factory orders in March. Also today, Comcast reports earnings. On Tuesday, the Commerce Department will release international trade data for March and the Institute for Supply Management will release its service sector index for April. Also tomorrow, Disney reports earnings.

HONG KONG (AP) — Chinese manufacturing suffered its sharpest contraction in a year in April, raising pressure on Beijing to roll out new stimulus to keep growth in the world's No. 2 economy from slipping below the official target. HSBC's manufacturing index based on a survey of factory purchasing managers fell to a 12-month low of 48.9 in April from 49.6 in March. Anything under 50 indicates contraction.

BRUSSELS (AP) — Officials say talks between Greece and its international creditors on how to stave off bankruptcy have made headway and will continue with the aim of reaching an agreement later this month. Officials both in Brussels and Athens say progress was visible during talks involving Greek, eurozone and International Monetary Fund negotiators over the weekend. The officials did not elaborate.

NEW YORK (AP) — McDonald's is set to unveil its latest retooling plans today. McDonald's is fighting intensifying competition from a variety of players and has admitted that it failed to keep up with changing tastes. In its flagship U.S. market, executives said the menu got too complicated and gummed up operations. Customer visits at established locations declined for two straight years.

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The Associated Press

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