Stocks are rallying around the world and if the Dow Jones Industrial Average holds early gains, it will go positive for the month of May. Oil is at a 7 month high and is closing in on $50 a barrel. Microsoft (MSFT) is laying off 1850 people in its smartphone business. Most of the job cuts will be in Finland. This is a step as Microsoft continues to dismantle its mobile phone operations it acquired from Nokia. Hewlett Packard Enterprises (HPE) is making some more structural changes. CEO Meg Whitman says the company will spin off its Enterprise Services Unit. HPE said in a statement that it will spin-off and merge its enterprise services business with the IT infrastructure services firm CSC, creating a combined entity that would potentially generate $26 billion in annual revenue. Dallas Fed President Robert Kaplan participates in a question and answer symposium in Houston. U.S. Foods, the second largest food service distributors is set to price 44 million shares at $22.50 each. Mortgage applications are released.
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