Today's Headlines

Bloomberg:

• EU Tightens Brexit Negotiating Language as Positions Harden. (video) European Union governments tightened their Brexit negotiation position as they prepare for talks with the U.K. over its departure from the bloc. The EU toughened its language on a future transitional arrangement that would help companies adapt to Britain’s new status, specified demands on citizens’ rights and clarified the role of European courts, according to the latest draft negotiating directives obtained by Bloomberg News.
• Here's Why China's Growth Momentum Is Slowing. (video)
• Wave of Cyber Attacks Sends Online-Security ETF Surging. (video) Call it the flight to cyber-safety. After a wave of global online attacks over the weekend, companies such as FireEye Inc. that provide software security services gained Monday on speculation the exposed weaknesses may trigger a surge in security spending. The $967 million PureFunds ISE Cyber Security ETF, or HACK, jumped the most in six months.
• Oil Price Indicators Flash Buy as OPEC Expectations Grow Bigger. (video) Price curve? Check. Technical markers? Check. The oil market just got bullish and that’s left OPEC with little room for maneuver when it meets in Vienna next week.
• Hedge Funds Are Dumping Gold Bets at Fastest Rate Since 2008. Expectations for another boost in U.S. interest rates are wearing down gold bulls. Hedge funds and other large speculators cut long positions in bullion futures and options by the most in more than eight years last week. Traders have been exiting as Federal Reserve officials signal higher borrowing costs this year and political uncertainty in Europe eases, reducing demand for gold as a store of value.

Wall Street Journal:

• As Trump Embraces Controversy, the Stakes Get Higher. Firing of FBI chief Comey threatens to weigh on the president’s broader agenda.
• Thermo Fisher Scientific to Acquire Patheon for $5.2 Billion. Lab-equipment company says deal grants it access to the end-to-end biotech solutions market.

Fox News:

• Syrian regime using crematorium to 'cover up' mass murders, State Department says.
• UN agency helps North Korea with patent application for banned nerve gas chemical.

CNBC:

• Chinese imports could imperil 65,000 US jobs in the latest industry under threat.
• The surprising — and bullish — new trend in corporate earnings. (video)
• Taxpayers and private investments to fund Trump infrastructure plan, says Chao.
• Hedge fund billionaire Cooperman makes big bet on media; adds AMC, Netflix(NFLX).

Zero Hedge:

• New Variant Of 'Ransomware' Begins To Spread: "We've Never Seen Anything Like This".
• Oil Surges After Saudis, Russians Agree To 9 Month OPEC Output Cut Extension; US Futures Flat.
• State Department Accuses Assad Of Covering Up Mass Killings In Syria.
• Ann Coulter Turns On Trump: "This Is The Great Negotiator?" (video)
• Here's Why You'll Pay Higher Gas Prices Whatever The Market.
• 'Soft' Data Slumps - Empire Fed Plunges Into Contraction As New Orders Collapse. (graph)

Reuters:

• China April steel output hits record, second month to push peak higher: stats bureau.

The Telegraph:

• Despite Emmanuel Macron’s election, the eurozone isn't out of the woods.