TheStreet Live

The British Pound loses ground against the U.S. dollar after a poll showed British Prime Minister Theresa May's party losing seats in the election next week. The yougov.com poll says the conservative party could lose as many as 20 seats and the anti-business candidate gaining ground. There's a big trade deal with Vietnam in the works. Reuters reports Vietnam's Prime Minister said he would sign deals for U.S. goods and services worth $15 to $17 billion during his visit to Washington, D.C., mainly for high technology products and for services. He is sue to meet President Trump today. At least 80 people were killed in a bomb blast in Kabul, Afghanistan. 300 people were injured. The suicide blast happened in a highly secure area near the German Embassy. So far, no group has claimed responsibility.

The S&P 500 and Nasdaq retreated from records to begin the week, finishing with losses for the first session in eight. Energy stocks led losses even as crude oil prices came off of the day's lows. Zynga set a new 52-week high after Piper Jaffray upgraded its stock rating to OVERWEIGHT from NEUTRAL. Analyst Michael Olson said the social game developer was following the same turnaround playbook as Electronic Arts . Atwood Oceanics rallied after agreeing to be acquired by Ensco in a deal that values the company at a 32% premium to its Friday close. That deal is slated to close in the third quarter. Chipotle was lower after determining that customers could have been compromised by a cyberattack across 48 U.S. states. The burrito chain had its payment systems hacked between March 24 and April 19.

Another decline in crude oil prices threatened to end a seven-day winning streak for the S&P 500 and Nasdaq. The two indexes closed at records on Friday, their second day of record closes in a row. Consumer confidence retreated in May as expectations for future economic conditions weakened. However, the overall mood remains optimistic and most anticipate growth over the summer months. BlackBerry fell after Raymond James downgraded its rating on the stock to MARKET PERFORM from OUTPERFORM. Analysts said they are tapping the brakes after a hefty rise since the last ratings update in August. TiVo jumped after a favorable ruling in a patent case against Comcast . A judge gave an initial ruling that found Comcast, Arris and Technicolor had violated two of TiVo'S patents.

Crude oil rebounded from a massive slump a day earlier even after another increase in U.S. drilling activity. The number of active U.S. rigs drilling for oil increased for the 19th week in a row. The fact that the gain was the smallest so far this year was a silver lining. Costco led the cyclical sector's gains after higher membership fees propelled quarterly profits. Revenue rose 8% and same-store sales increased 5%, 100 basis points above consensus. And Bank of America upgraded Veeva Systems following a solid first quarter. The cloud software developer topped adjusted earnings, while revenue surged 32%.

Major indexes fluctuated within a narrow range ahead of the Memorial Day weekend, putting the S&P 500 and Nasdaq at risk of snapping a six-day winning streak. They closed at fresh records a day earlier. Consumer sentiment ticked higher in May, according to the final reading from the University of Michigan. Views on current economic conditions weakened slightly, while expectations for the future rose. Deckers surged after a better-than-expected fourth quarter and higher full-year guidance. The maker of UGG boots anticipates a narrower first-quarter diluted loss than analysts had expected. GameStop fell despite beating quarterly earnings and revenue consensus. Same-store sales grew just over 2%, largely tied to the launch of a new portable gaming console, the Nintendo Switch.

The S&P 500 and Nasdaq surged to fresh intraday records after a series of positive retail earnings boosted consumer stocks. The S&P was on track to close with its sixth straight session of gains. Best Buy rallied after posting unexpected growth in same-store sales over its recent quarter. The electronics retailer cited a strong performance in gaming and improving sales trends tied to tax refunds as reasons for its solid quarter. Nasdaq component Sears rocketed higher after reporting its first GAAP profit since its second quarter of last year. Investors overlooked a wider adjusted loss and its 11th straight quarter of declining same-store sales. Netflix traded at records after a bullish note from Piper Jaffray analysts. The firm believes current estimates for international profitability are too conservative.

Lowe's says it missed earnings expectations because it paid down a lot of debt. Stock of the home improvement retailer is down sharply in the pre-market. Sales at Lowe's also missed expectations. 3 more people have been arrested in Manchester, England related to the bombing at a Ariana Grande concert Monday night. British Prime Minister Theresa May says another attack could be imminent but gave no indication of the intelligence that led her to say that. Meanwhile, President Donald Trump met with Pope Francis at the Vatican in a trip that has taken the president to the homes of the World's main Abrahamic religions-Islam, Judaism and Christianity. A potential liquor merger is in the works. Constellation Brands has reportedly made an offer to buy Brown-Forman Constellation brands owns Corona beer and Svedka Vodka. Brown-Forman owns Jack Daniels brand.

The S&P 500 stretched its gains into day four, its longest streak since mid-February. Stocks rose after the Trump White House released a budget proposal heavy on cuts to social programs.U.S. agribusiness company Bunge spiked this afternoon after reportedly receiving a takeover bid from Swiss miner Glencore . It not clear whether deal talks have advanced beyond initial discussions. Nokia shares surged after settling an intellectual dispute with Apple , while simultaneously signing a multi-year patent license agreement. The deal sees Nokia provide infrastructure products to the iPhone maker. Take-Two Interactive jumped after far exceeding profit estimates. The earnings win overshadowed disappointing news that the release of its widely anticipated Red Dead Redemption 2 would be delayed until spring 2018.

Defense stocks lifted Wall Street to begin the week after Donald Trump's first leg of a trip abroad resulted in billions of dollars' worth of deals. Crude oil also rallied after of an OPEC meeting later in the week. Dow Jones Industrial Average component Boeing boosted the blue-chip index after Trump's weekend of deals. Saudi Arabia has agreed to buy a series of new aircraft, weapons systems and helicopters. Qualcomm rose after JPMorgan raised its rating to OVERWEIGHT from NEUTRAL. The firm has high hopes for its pending $47 billion acquisition of NXP Semiconductor . That deal is expected to close by the end of the year. Barclays upgraded its rating on Mylan to OVERWEIGHT from EQUAL WEIGHT and increased its price target by $3 to $50. The firm is optimistic its generic version of a multiple sclerosis treatment will be approved.

President Donald Trump has begun the 2nd leg of his foreign trip. He arrived in Tel Aviv and gave a speech on collaboration between the United States and Israel. In his address he said "the United States and Israel have a rare opportunity to bring security and stability and peace to the region, defeat terrorism and create a future of harmony." Several reports out overnight indicate that Ford Motor Company's board will replace Chief Executive Mark Fields. Fields has been criticized for the company's result, lower stock price and lack of specific vision. Jim Hackett, who runs the company's self-driving vehicle operation, will take the reins. Oil is higher today as OPEC prepares to meet Thursday. Crude prices climbed to the highest in a month as Saudi Arabia's energy minister said all producers participating in a deal to limit output agree on extending the cuts by 9 months.