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• Tullow Oil to Buy Capricorn Energy in $827 Million All-share Deal
  Tullow Oil will acquire Capricorn Energy in an all-stock deal worth...
  Tullow Oil will acquire Capricorn Energy in an all-stock deal worth 656.9 million pounds (US$826.7 million), keeping a focus on African reserves amid soaring energy prices.
  
  Investors in Capricorn, formerly known as Cairn Energy, will receive 3.8068 Tullow shares for each share they hold, the companies said on June 1. Reuters calculated the value.
  
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• What else is brewing Wednesday morning
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  • Rafael Nadal, the undisputed King of the Clay, defeated top-seeded Novak Djokovic in an epic quarterfinal match at the French Open.
  
  
  • Shanghai authorities began lifting a two-monthslong Covid lockdown on the city.
  
  
  • Inflation in the eurozone hit 8.1%, its highest annual level since the euro was created in 1999.
  
  
  • DeLorean released new info (and photos) around its new gull-winged EV.
  
  
  • The owner of Salt Bae’s steakhouse is reportedly in talks to sell a stake at a valuation of $1.5 billion.
  
  

  
  
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• US stock futures traded mixed early on Wednesday
  US stock futures traded mixed early on Wednesday, amid concerns about central-bank...
  US stock futures traded mixed early on Wednesday, amid concerns about central-bank rate hikes. After losing Tuesday's gains, oil prices rose again on Wednesday. Here are the latest market moves.
  
  Markets: The curtain has dropped on May and, after dizzying falls and equally dramatic gains, stocks closed the month mostly where they started. Salesforce’s bullish earnings report showed that even with all the economic uncertainty, demand has remained strong for business software.
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• Energy stocks end lower in about-face as OPEC may seek to boost production
  Oil and gas stocks (NYSEARCA:...
  Oil and gas stocks (NYSEARCA:XLE), leading the S&P sector leaderboard for most of Tuesday's trading, erased gains along with a rally in crude oil following reports that OPEC members could pump more crude and exempt Russia from oil production targets.
  

  Such an exemption potentially could pave the way for Saudi Arabia, the United Arab Emirates and other OPEC producers to pump more crude, The Wall Street Journal reported.

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• MarketWatch: Dow ends down over 200 points on Tuesday, but ekes out gain for May
  Stocks ended lower Tuesday, capping a volatile May that saw the S&P 500 flirt with a bear market...
  Stocks ended lower Tuesday, capping a volatile May that saw the S&P 500 flirt with a bear market but end the month virtually unchanged. The Dow Jones Industrial Average DJIA, -0.67% fell around 221 points, or 0.7%, to close near 32,992, while the S&P 500 SPX, -0.63% shed 26 points, or 0.6%, to finish near 4,132. The Nasdaq Composite COMP, -0.41% fell around 50 points, or 0.4%, to end near 12,081. Stocks fell sharply in May, with the S&P 500 on May 19 briefly trading below the 20% pullback threshold that would mark a bear market before recovering. Stocks then bounced sharply last week. The Dow eked out a 0.04% monthly gain, while the S&P 500 finished with a gain of 0.01%. The Nasdaq dropped 2.1%. Fears that rising inflation pressures would begin to undercut corporate profit margins and worries that aggressive Fed tightening could spark a recession were among the factors cited for market volatility.
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