- Google (GOOGL) has teamed up with GoPro (GPRO) to launch a project that would allow users to create 360-degree video more easily, hoping this will lead to affordable access to virtual reality down the line. The move could be especially lucrative for Google, which has been part of the Action Alerts Plus charity portfolio, co-managed by Jim Cramer, for more than a year. Google is rated 1 ¿ among stocks the portfolio managers would buy right now ¿ and makes up 3.18% of the portfolio.
- U.K. consumer confidence fell unexpectedly in May, with optimism about the economy for the next 12 months fading fast, a survey by GfK shows. GfK said its monthly consumer confidence index, compiled mostly after the Conservative Party unexpectedly won a national election this month, slipped to +1 from +4 in April. Economists polled by Reuters had expected an unchanged reading.
- Japan's industrial output rose for the first time in three months and beat expectations in April. Industrial production increased by 1%, more than the 0.8% median of expectations.
- The head of the IMF, Christine Lagarde, has said that a Grexit ¿ Greece leaving the eurozone ¿ is a possibility, but stressed this would not mean the end of the single currency union. The Fund offered Greece three more weeks to repay the 1.6 billion euros ($1.75 billion) that Greece must reimburse next month.
- Foreigners poured more than $4.6 billion into Chinese equity funds last week, more than double the previous high set in 2008.
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