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Wall Street expected to open up slight ... United’s Munoz to face shareholders ... What will OPEC do?

May 24, 2017

BEIJING (AP) — Shares fell in early trading in Europe today, but were mostly higher in Asia after Wall Street’s advance on Tuesday. Chinese stocks dipped after Moody’s cut Beijing’s debt rating but rebounded to end the day unchanged. London’s FTSE-100 gained 0.2 percent, Germany’s DAX slipped 0.1 percent and France’s CAC-40 held steady. Wall Street is expected to open up slightly, with Dow and S&P futures up less than 0.1 percent.

CHICAGO (AP) — United Airlines CEO Oscar Munoz is likely to face questions from shareholders today about the dragging of a passenger from an overbooked flight, an incident that sparked weeks of bad publicity. Shareholders also will vote whether to re-elect Munoz and 14 other board members and whether to approve the company’s executive-compensation plan. Munoz has apologized repeatedly for the April 9 incident in which the passenger was injured by Chicago airport security officers.

BEIJING (AP) — China is criticizing a decision by the Moody’s rating agency to cut its rating for Chinese government debt and is defending Beijing’s finances and economic reforms. A finance ministry statement says Moody’s used “inappropriate methods” when it cut Beijing’s credit rating while overestimating the scale of its economic difficulties.

VIENNA (AP) — OPEC oil ministers will likely decide to extend production cuts when the 13-nation cartel meets Thursday. The ministers are attempting to support prices, but even after last year’s cuts, oil prices have risen less than OPEC hoped for. Benchmark crude that flirted with the $30 mark now fetches more than $50 barrel, but that is substantially less than the highs reached in 2014.

WASHINGTON (AP) — Today, the National Association of Realtors releases existing home sales for April. Last month, the association reported that Americans purchased homes in March at the fastest pace in over a decade. Also today, the Federal Reserve will release minutes from April’s interest-rate meeting.

Update hourly