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What market trends are impacting investor sentiment this week?
Here's your morning brief for Monday, February 2nd. I'm Daniel Bach for The Wall Street Journal. A nervous mood continues in markets this morning, with U.S. stock futures, global shares, and oil all lower.
Cryptocurrencies are also selling off, with Bitcoin trading below $77,000, now down more than 10% this year, and roughly in line with where it traded shortly after President Trump's November 2024 election victory.
Metals have stabilized after Friday's dramatic losses, with silver and gold ending last week with their worst one-day sell-offs since 1980. The U.S. government is beginning this week partially shut down. The Senate passed a funding package to keep the lights on late Friday, but the House still needs to approve it. The deal extends Department of Homeland Security funding for two weeks.
to allow for talks on reining in enforcement operations, with Democrats and some Republicans demanding a series of changes. Republican House Majority Leader Mike Johnson called some of those requests reasonable, but pushed back on the requirement for judicial warrants and calls for federal immigration authorities to remove their masks.
And President Trump said the John F. Kennedy Center for the Performing Arts in Washington will undergo two years of renovations, closing on July 4th, the country's 250th birthday. The move comes as the center has struggled to fill seats, and some artists have canceled performances there. Trump said the move is subject to approval by the Kennedy Center's board, which is dominated by his allies.
Last year, the board voted to rename the venue the Trump Kennedy Center, while the president installed himself as the board's chair. And we have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
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