The major U.S. indices ended the first day of June on a high note, with the Dow and Nasdaq both rising triple digits during the session.
The Dow Jones Industrial Average rose 0.9%, or 219 points to 24,635, while the Nasdaq gained 1.51%, or 112 points to 7,554, and the S&P 500 gained 1.08%, or 29 points to 2,734.
Deutsche Bank Falls after Credit Rating Downgrade
Deutsche Bank (DB) shares were down 0.5% Friday afternoon after Standard & Poors downgraded the company's credit rating.
The downgrade comes after the Federal Reserve labeled the bank's U.S. business as troubled. The S&P says that the company's restructuring will be deeper and riskier than expected.
"We see significant execution risks in the delivery of the updated strategy amid a continued unhelpful market backdrop," S&P said in a statement. "The bank appears set for a period of sustained underperformance."
Walmart Launches Personal Shopping Service in New York
Walmart (WMT) is launching its exclusive concierge-style service Jetblack in New York Friday.
The invite-only service is currently restricted to buildings in Manhattan and Brooklyn that have doormen, but Walmart plans to expand the service eventually.
For $50 a month "time-strapped urban parents" seeking "more efficient ways to shop for themselves and their families" can use the service in lieu of trips to Walmart.
Samsonite CEO Quits Amid Questions About Educational Background
Samsonite (SMSEY) , the world's largest luggage maker, has lost its CEO after Ramesh Tainwala resigned from his post effective immediately. The company said that he will be replaced by CFO Kyle Gendreau.
Tainwala said he left for "personal reasons," but the timing of the resignation comes just days after activist investment group Blue Orca Capital alleged that Tainwala's educational background wasn't up to snuff.
Blue Orca claimed that he misrepresented the fact that he has a doctorate.
Separately, the company issued a nine-page rebuttal to Blue Orca's allegation that Samsonite was engaged in "questionable accounting practices and poor corporate governance."
Samsonite fell 21% following Blue Orca's allegation.
U.S. futures were rising across the board Friday on the first day of June 2018 trading, as markets look to rebound after a down day of trading Thursday after Trump's trade war with allies like Canada, Mexico and the EU heated up.
Dow futures were rising 0.57, indicating a 138 point increase, S&P futures were gaining 0.49%, indicating an open 13 points higher, while Nasdaq futures gained 0.42%, indicating an open 29 points higher.
Asian markets were mixed, with the Hang Seng being the lone major index to close in the green, up 0.08%. Meanwhile, the Shanghai Composite and Nikkei, dropped 0.66% and 0.14%.
The FTSE 100 was up 0.67%, the DAX gained 1.04%, and the CAC 40 rose 1.4% in Europe with about four hours left in trading.