This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.
Good morning, Bull Sheeters. The global rally in stocks continues this morning. Investors again are pinning their hopes on big fiscal stimulus packages and the further reopening of the global economy.
Let’s see where investors are putting their money.
- The Asian indices are all in the green in afternoon trade, with Japan’s Nikkei and Hong Kong’s Hang Seng leading the way.
- There’s big optimism that Japan and South Korea will unveil new spending plans to launch their economies out of recession.
- Brent is climbing again this morning. All signs are that Saudi Arabia and Russia will agree to further output cuts on a June 9 conference call.
- European bourses climbed out of the gates again this morning, with London’s FTSE and France’s CAC up roughly 1% at the open.
- Angela Merkel didn’t get the €100 billion stimulus plan she was seeking yesterday to reinvigorate Europe’s biggest economy. Talks resume in the German capital. The Dax is trading as if it’s a done deal.
- Staying with Germany… Volkswagen agreed to invest