Good morning, readers!
As we kick off central bank week, all eyes are on the Federal Reserve, along with its counterparts in London and Frankfurt. While no rate cuts are expected this time, investors are eagerly awaiting signs of when the cuts could start coming.
Last week, major indexes ended at their highest levels in over a year and a half, and futures are currently showing a muted response in early trading today.
🚨 Stay tuned to our live coverage throughout the day for the latest news affecting markets.
In the meantime, let's take a look at some stocks to watch:
- ↗️ Macy's (M): An investor group has made a $5.8 billion offer to take Macy's private. The famed department-store chain has struggled with competition from online retailers, and shares rose 19% premarket.
- ↗️ Nordstrom (JWN), Kohl's (KSS): Shares of these two department-store chains rose roughly 5% before the bell, boosted by the jump in Macy's stock.
- 🔎 Cigna Group (CI), Humana (HUM): Cigna abandoned a $140 billion tie-up with Humana after shareholders balked at the health-insurance megadeal. Now, Cigna plans large stock buybacks, and its shares jumped premarket.
- 🔎 Boeing (BA): The plane manufacturer is elevating Stephanie Pope to become its No. 2 executive, setting her up as the heir apparent to Chief Executive David Calhoun.
- 🔎 Oracle (ORCL) and Casey's General Stores (CASY): These companies are among those due to report earnings after the market closes today.
That's all for now. Stay tuned for more updates throughout the day!
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