- Reuters/Muhammad Hamed
Here is what you need to know.
Congress averts a government shutdown. The Republican-led Congress narrowly passed a temporary spending bill, averting a government shutdown.
Bitcoin plunges again. The cryptocurrency plunged below $13,000 for the first time in more than two weeks. It’s now down about 30% from Monday’s record high.
The Feds says they blew up a $1.2 billion Ponzi scheme targeting elderly people in Florida. The US Securities and Exchange Commission filed charges against Robert Shapiro for allegedly using a group of funds called the Woodbridge Group of Companies LLC, to defraud more than 8,400 investors.
Goldman Sachs is reportedly building a crypto trading desk. “The bank aims to get the business running by the end of June, if not earlier,” Bloomberg reported, citing people familiar with the situation.
Eric Schmidt is stepping down as Alphabet’s executive chairman. Schmidt, who was previously Google’s CEO and has been with the company since 2001, announced he was resigning as Alphabet executive chairman to spend time on philanthropy and on “science and technology issues.”
Papa John’s CEO departs. John Schnatter, the pizza chain’s controversial founder and CEO, announced plans to leave his position following backlash for his criticism of NFL anthem protests.
Nike beats despite weakness in North America. The sneaker giant beat on both the top and bottom lines, but revenue from North America fell 5% due to weakness in footwear and sports equipment.
South Korea reportedly plans to buy 20 more F35s. South Korea’s Defence Acquisition Program Administration has begun the process for procuring an 20 additional aircraft, just two months after President Donald Trump announced Seoul would spend billions of dollars on new equipment, the Joongang Ilbo newspaper reported, citing multiple government sources.
Stock markets around the world trade mixed. Hong Kong’s Hang Seng (+0.72%) led in Asia and France’s CAC (-0.28%) lags in Europe. The S&P 500 is set to open little changed near 2,687.
US economic data is heavy. Personal income and spending and durable goods orders will all be released at 8:30 a.m. ET before new home sales and University of Michigan consumer confidence cross the wires at 10 a.m. ET. The US 10-year yield is unchanged at 2.48%.