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 work week. Senate Majority Leader Mitch McConnell attempted to break the impasse with a motion to pass a short-term funding deal, but it was blocked by Senate Minority Leader Chuck Schumer.
Celgene is buying cancer drugmaker Juno Therapeutics for $9 billion. The highly personalized treatments Juno makes, 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 GDP, 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 pick-up 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. They voiced their opinion after Zuckerberg announced that the priorities of the News Feed in Facebook would change, based on how “trustworthy” users believe those sources are.
Shares in a telecoms company jumped 130% after it pivoted to blockchain. Stapelton Capital announced on Monday that it is changing its name to Blockchain Worldwide and shift its focus towards “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%.