Here are five things you must know for Monday, Jan. 22:
1. -- Shutdown - Day Three
U.S. stock futures suggested Wall Street would open lower on Monday, Jan. 22, as investors watched for the impact of a federal government shutdown that has extended into its third day amid rising Treasury bond yields and a stabilizing dollar.
Senate lawmakers have scheduled a vote for 12 p.m. ET on Monday with hopes of reaching a temporary agreement that would allow funding for the federal government until at least Feb. 8. The budget impasse, according to a report last month from ratings company Standard & Poor's, could cost the U.S. as much as $6.5 billion, or the equivalent of 0.2 percentage points from GDP growth over each week that it continues.
The U.S. dollar index, which tracks the greenback against a basket of six global currencies, was down 0.05% to 90.45 although it was supported to some degree by rising Treasury bond yields, with benchmark 10-year notes hitting a three-and-a-half year high of 2.672% in overnight Asia dealing. At last check, the 10-year yield was 2.646%.
Stocks closed higher on Friday, Jan. 19, ahead of the government shutdown. The Dow Jones Industrial Average finished up 0.21% for the day, the S&P 500 rose 0.44% and the Nasdaq jumped 0.55%. Both the S&P 500 and Nasdaq closed at new record highs.
The economic calendar in the U.S. on Monday includes the Chicago Fed National Activity Index for December at 8:30 a.m. ET.
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2. -- Sanofi to Buy Hemophilia Drugmaker Bioverativ
Sanofi SA (SNY) - Get Report reached an agreement to buy Waltham, Massachusetts-based Bioverativ Inc. (BIVV) , a hemophilia specialist, in a move that will boost the French company's profile for fighting rare diseases.
Sanofi said Monday it will pay $105 a share in cash, a 64% premium to Bioverativ's closing price on Friday, Jan. 19, of $64.11. Bioverativ shares jumped more than 62% in premarket trading on Monday to $104.10.
"With Bioverativ, a leader in the growing hemophilia market, Sanofi enhances its presence in specialty care and leadership in rare diseases ... and creates a platform for growth in other rare blood disorders," said Sanofi CEO Olivier Brandicourt.
Sales of treatments for hemophilia are worth about $10 billion per year and are expected to grow at about 7% a year through to 2022, making it the world's biggest market for so-called rare diseases, according to Sanofi.
Bioverativ was spun out of Biogen Inc. (BIIB) - Get Report in early February 2017. It makes two hemophilia treatments, Eloctate and Alprolix, and has a pipeline that includes another late-phase treatment for hemophilia as well as experimental treatments for other blood disorders including sickle cell anemia and thalassemia.
In other merger news, Celgene Corp. (CELG) - Get Report said Monday it reached a deal to buy Juno Therapeutics Inc. (JUNO) for $87 a share in cash, or $9 billion. Juno shares rallied 27% in premarket trading to $86.20.
3. -- Icahn, Deason Push Xerox to Explore a Sale
Billionaires Carl Icahn and Darwin Deason, Xerox Corp.'s (XRX) - Get Report first- and third-biggest investors, have teamed up and plan to encourage the printer and copier giant to explore a potential sale, The Wall Street Journal reported, citing people familiar with the matter.
The two investors control more than 15% of Xerox's shares.
Icahn and Deason plan to call on Xerox to explore strategic alternatives, which could include a sale or other transaction, to break its joint venture with Fujifilm Holdings Corp., and immediately fire CEO Jeff Jacobson, the people told the Journal.
Just last week it was reported that Xerox was in talks with Japan's Fujifilm about a deal of sorts. While it wasn't clear what kind of transaction was shaping up, TheStreet Ronald Orol wrote it could be one that seeks to help Xerox's Jacobson keep his job.
4. -- Amazon Go Opens Monday
Amazon Go, a cashier-free convenience store concept, will finally swing open its doors to the public on Monday in Seattle.
Customers will be able to shop for groceries at the 1,800-square-foot store, and once they're finished walk out without checking out. The company will use technology that automatically detects when products are taken from, or returned, to shelves and track those items in a virtual shopping cart. Amazon will then charge the Amazon accounts of shoppers shortly after and send them receipts for their purchases.
5. -- New England vs. Philadelphia in Super Bowl LII
The sports books in Las Vegas have the New England Patriots as nearly a touchdown favorite to beat the Philadelphia Eagles in the Super Bowl on Feb. 4.
On Sunday, Jan. 21, the Patriots defeated the Jacksonille Jaguars 24-20, while the Eagles topped the Minnesota Vikings 38-7.
It's the eighth Super Bowl appearance for Patriots quarterback Tom Brady and coach Bill Belichick, who have won the Super Bowl five times.
This story has been updated from 6:05 a.m. ET.
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