Eurozone is officially in a technical recession!!!

Jobless claims today 8:30 AM ET

MARKETS OVERNIGHT

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US DATA

• Hong Kong: Hang Seng closed up +0.25%
• China CSI 300    +0.81%
• Taiwan KOSPI   -0.18%
• India Nifty 50    -0.42%
• Australia ASX    -0.13%
• Japan Nikkei  -0.51%
• European bourses in mixed  territory so far this morning
• US indices pretty flat  so far in pre-market, USD down -0.20%

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 Eurozone falls into recession

Newsflash: the eurozone has fallen into recession, new data shows, as its economy contracted over the winter.

GDP across the euro area shrank by 0.1% in the first quarter of this year, downgraded from a previous estimate that the economy stagnated.

That follows a 0.1% contraction in GDP in the fourth quarter of last year, meaning the eurozone has shrunk for two quarters in a row – the standard definition of a recession.

• China doing whatever it can to boost the economy

CHINA STARTS NATIONWIDE PROMOTION TO BOOST VEHICLE SALES

CHINA TELLS BANKS TO OFFER CREDIT SUPPORT TO CAR PURCHASES

China Banks Cut Interest Rates on Deposits

China Lowering of Deposit for Property Purchases

Net purchases of US stocks by retail investors hit almost $1.5bn on May 30 and 31, the highest daily figures in three months, data from VandaTrack shows. -FT

WoodMac: $30 Billion In UK Energy Investments At Risk Ahead Of Elections -Oilprice

Mega caps vs rest of the market via Jim Bianco

US DATA TODAY