Morning Brief Government shutdown looms, EA buyout, tariffs hit movies
US stocks open the week higher as investors brace for a potential government shutdown if Congress fails to pass a short-term funding bill by tomorrow night. A shutdown could delay key economic reports, including Friday’s jobs data, and the Trump administration has threatened permanent layoffs for federal workers. Electronic Arts (EA) agreed to go private in a $55B leveraged buyout, the largest LBO ever, sending shares higher. President Trump announced sweeping tariffs set to take effect this week, including 100% duties on foreign-made movies alongside earlier measures on pharmaceuticals, furniture, and trucks. CSX (CSX) CEO Joe Hinrichs abruptly resigned amid activist pressure, with Steve Angel named as successor. Pot stocks, including Tilray (TLRY) and Canopy Growth (CGC), rallied after Trump touted hemp-derived CBD for seniors.
Takeaways:
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Government shutdown risk rises; federal worker layoffs possible
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EA agrees to $55B buyout, marking the largest LBO in history
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Trump tariffs expand to include 100% duties on foreign films
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CSX CEO exits under activist pressure; pot stocks jump on CBD push
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