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Futures rise as US Congress averts govt shutdown

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The Congress passed a stopgap funding bill on Saturday with overwhelming Democratic support after Republican House Speaker Kevin McCarthy backed down from an earlier demand by his party's hardliners for a partisan bill. Investors, meanwhile, await Powell's comments at 11 a.m. ET, along with Philadelphia Fed President Patrick Hasker's remarks, at a roundtable discussion with local employers and small business owners to discuss the efforts to grow the local economy.

Traders work on the floor of the NYSE in New York

Later in the day, Cleveland Fed President Loretta Mester will speak on the outlook for the U.S. economy. Data last week showed a better-than-expected but a still-high inflation, while investors adjusted their portfolios on the final trading day of a weak quarter. Video appears to show a Russian tank hitting a mine and running out of control before sinking into water

Sam Bankman-Fried, the disgraced FTX founder, heard that it would cost $5 billion to get Donald Trump not to run for office, Michael Lewis reported in his book, "Going Infinite." NEW YORK — He’s driven a taxi cab, played in a band and protested the Vietnam War. As a New York City judge, Arthur Engoron has resolved hundreds of disputes, deciding everything from zoning and free speech issues to a custody fight over a dog named “Stevie.” Now, in the twilight of a distinguished two-decade career on the bench, the erudite, Ivy League-educated judge is presiding over his biggest case yet: deciding the future of former President Donald Trump's real estate empire.

Source: News Formal (newsformal.com)

 

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Powerball, Panda-monium and a Looming Shutdown: Your Saturday US Briefing(Bloomberg) -- The imminent government shutdown is weighing on everyone. Here in California, we’re worried that if Congress doesn’t reach an agreement by midnight Saturday in Washington, lines will be longer at airports, and national parks including Joshua Tree will close. House Republicans need to get their act together and pound out some type of resolution--stat. The handful of GOP members pushing for a protracted shutdown “have, frankly, been stuck on stupid,” said GOP Congressman Mike Lawler
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