American Airlines’ stock rose 1% Monday, reversing course from premarket as the company’s pilots voted “overwhelmingly” in favor of authorizing a strike if necessary.
: Debt-ceiling bill to get Senate hearings, but a vote is not expected
Majority Leader Charles Schumer says the Senate will hold hearings to “expose the true impact” of House Republicans’ proposal to raise the U.S. debt ceiling.
Economic Report: U.S. manufacturers stuck in negative territory for 6th month in a row, ISM finds
A key barometer of U.S. factories hung in negative territory for the sixth month in a row, signaling ongoing malaise in a key part of the economy
: First Republic customers will keep all their money, but company’s stock is worth zero in its current form
First Republic customer assets are backed by “fortress” balance sheet of JPMorgan, which is buying the bank through an FDIC-brokered deal.
Economic Report: Construction spending up 0.3% in March
Outlays for construction projects rose 0.3% in March, the Commerce Department reported Monday
Metals Stocks: Gold prices end at lowest in over a week as dollar strengthens ahead of Fed decision Wednesday
Gold futures give up early gains on Monday to end lower, pressured by strength in the U.S. dollar ahead of the Fed’s policy decision this week.
Movers & Shakers: First Republic sinks after JPMorgan takeover, while Norwegian Cruise, Lordstown Motors and SoFi shares are also on the move
JPMorgan Chase & Co. will take over First Republic Bank, whose shares are sinking ahead of Monday’s open. Iveric, Li Auto and SoFi Technologies are among other movers.
Bond Report: 2-year Treasury yield jumps to highest in a week ahead of Fed meeting
Treasury yields finish higher on Monday as investors prepare for another quarter-point rate increase by the Federal Reserve in two days.
Your Digital Self: Elon Musk and others may try, but controlling AI is an impossible mission
Surely we can survive the advent of AI? Don’t answer that question.
Futures Movers: Oil prices settle lower as economic uncertainty feeds worries about energy demand
Oil futures settle with a loss, pressured by continued worries about the outlook for global growth after data on China manufacturing activity underwhelmed.
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