Dow futures jump more than 200 points on hopes of a coronavirus vaccine

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The New York Stock Exchange (NYSE) stands in lower Manhattan on May 18, 2020 in New York City. Markets surged today as promising details of a potential COVID-19 vaccine were released and more European countries gradually re-opened after months of lockdown.

Spencer Platt | Getty Images

Stocks futures opened higher in overnight trading Monday to begin a holiday-shortened week, as optimism about a potential coronavirus vaccine built.

Futures on the Dow Jones Industrial Average jumped about 270 points. The S&P 500 futures rose 1.2% and the Nasdaq 100 futures climbed 1.1%. Trading volumes remained thin in overnight action. U.S. markets

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Nissan and Renault shelve merger plans to repair their alliance: sources

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(Reuters) – Renault (RENA.PA) and Nissan (7201.T) have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their troubled alliance to try to recover from the coronavirus pandemic, five senior sources told Reuters.

FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Reims, France, July 9, 2019. REUTERS/Christian Hartmann

Nissan has long resisted Renault’s proposals for a full-blown merger as executives felt the French carmaker was not paying its fair share for the engineering work it did

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Trade tensions are a bigger risk to stocks than coronavirus: Invesco

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Invesco’s Kristina Hooper warns the coronavirus is not the biggest threat to the market.

She sees flaring U.S.-China trade tensions potentially doing the most harm to stocks.

“The pandemic has largely been isolated and neutralized because of all the monetary policy support that the Fed has provided,” she told CNBC’s “Trading Nation” on Friday. “That really has decoupled the economy from the stock market.”

Unlike the pandemic, Hooper contends a tariff war resurgence would be a direct hit to the market.

“As we saw in late 2018 and 2019, the tariff war was very, very problematic. It created a big

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UBS announces global financing team

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FILE PHOTO: The logo of Swiss bank UBS at its Zurich headquarters in Switzerland, July 27, 2015. REUTERS/Arnd Wiegmann

NEW YORK (Reuters) – UBS (UBSG.S) said on Monday it has created a new global financing team, a group that will span across divisions under one group in order to serve clients in a faster and simpler fashion.

The new team will be led by Remi Mennesson, who will join the Swiss lender in November 2020, and report to the firm’s four co-presidents, said a memo seen by Reuters and confirmed by the bank.

One of the reasons for

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