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Situational awareness:

  • Tesla's stock rose 1.4% after CEO Elon Musk said it is close to reaching its Model 3 target for the quarter. (CNBC)
  • President Trump rolled out a $16 billion aid package to help farmers hit by his trade war with China, following a $12 billion package last year. (WSJ)
  • Consulting firm McKinsey and JPMorgan each said they will no longer do business with OxyContin maker Purdue Pharma. (Reuters)
  • U.K. Prime Minister Theresa May announced today she will resign on June 7 after the failure of her most recent Brexit deal. (Axios)
  • After being spun off from parent VF Corp., Lee and Wrangler jeans' new company Kontoor Brands rose 4% in its market debut. (CNN)

I'll be celebrating Memorial Day from the great state of Colorado. Enjoy your long weekend. Markets will be back in your inbox on Tuesday!