- Reuters / Joshua Roberts
Here is what you need to know.
Senate leaders say they have yet to reach deal to end the government shutdown, which will continue into the workweek. Senate Majority Leader Mitch McConnell attempted to break the impasse with a motion to pass a short-term funding deal, but Senate Minority Leader Chuck Schumer blocked it.
Celgene is buying the cancer-drug maker Juno Therapeutics for $9 billion. Juno’s highly personalized treatments, called CAR T-cell therapy, are at the beginning of what some are calling “a big new field of medicine.”
Bank of America has found the formula for a market meltdown – and we’re dangerously close. The indicators in question include gross domestic product, wage inflation, 10-year Treasury yields, and the S&P 500 equity index.
Sanofi is buying Bioverativ for $11.6 billion. The move comes at a time of renewed interest by large drugmakers in smaller biotech firms and predictions by some experts that 2018 will see a substantial pickup in mergers and acquisitions.
The founder of litecoin talked to us about the fledgling cryptocurrency market. Charlie Lee shared concerns that scam artists could take advantage of investors by talking up new coins.
Zuckerberg’s control of Facebook may be a threat to the value of the stock, Macquarie says. Macquarie voiced its opinion after Facebook CEO Mark Zuckerberg announced that the priorities of the News Feed would change based on how “trustworthy” users believed their sources to be.
Shares in a telecoms company jumped 130% after it pivoted to blockchain. Stapleton Capital on Monday announced plans to change its name to Blockchain Worldwide and shift its focus toward “acquisitions within the blockchain technology industry.”
Stock markets around the world are stronger. China’s Shanghai Composite (+0.39%) climbed, while Germany’s DAX (+0.06%) rose. The S&P 500 is set to open down less than 0.1% near 2,809.
Earnings reports continue to be released. Halliburton, UBS, and Bank of Hawaii are set to report before the market open, while Enterprise Financial, Netflix, and TD Ameritrade will release results after the market close.
US economic data reports are light. Chicago Fed National Activity Index data is due at 8:30 a.m. ET. The US 10-year yield is up 3 basis points at 2.64%.