- Stocks began the week on a shaky note, as Biden and Republican House Speaker McCarthy prepared to meet Monday in an attempt to iron out stumbling blocks in debt-ceiling negotiations.
- The S&P 500 and Nasdaq 100 futures were just below flat.
- Micron fell 5.8% in pre-market trade after China announced its chips failed a cybersecurity audit. Chipmakers Nvidia and Qualcomm fell as well. Meta fell more than 1% in premarket trade after receiving a record €1.2 bln ($1.3 bln) in damages. The European Union's privacy fine.
- For investors, the bigger question is whether US officials will be able to reach an agreement to raise the debt ceiling before the government runs out of money. Markets lost ground late Friday as Republicans walked out temporarily. The severity of the problem was emphasized on Sunday by Treasury Secretary Yellen, who stated that the prospects of the US paying all of its payments by mid-June are "very low."
- Meta fined €1.3B for EU privacy violations over data transfers to the US - WSJ
- Fed's Kashkari: For me, it's a close call on June meeting whether to hike or pause.
