Here is what you need to know.
The CBO releases its analysis of the Senate Republican healthcare bill. The Congressional Budget Office projects that 22 million fewer people would have coverage under the Better Care Reconciliation Act in 2026 than under the current healthcare system.
A hung parliament crushes UK consumer confidence. The outcome of a hung parliament in the United Kingdom’s general election caused consumer confidence to plunge from 109.1 to 105.2 in the week following the vote, according to research by YouGov and the Centre for Economics and Business Research.
The EU hits Google with a record-breaking fine. The European Union fined Google 2.4 billion euros ($ 2.7 billion), saying the company “abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors.”
GM cuts its US 2017 new vehicle sales outlook. The automaker sees new vehicle sales in the US totaling in the “low 17 million” range, down from its previous estimate of “mid 17 million,” Reuters says, citing a top executive.
Jamie Dimon isn’t worried about automation. “My guess is our headcount will go up over the next 20 years, not down,” Dimon said in a LinkedIn interview, cited by Bloomberg.
There’s a showdown between America’s biggest players in trading. The House Financial Services Committee’s US Equity Market Structure hearing takes place on Tuesday and things are likely to get heated.
Paulson & Co. ups its stake in Valeant. Billionaire investor John Paulson’s fund disclosed a 6.3% stake in the pharmaceutical company, up from 5.68% on March 31, Reuters says.
Stock markets around the world trade mixed. Japan’s Nikkei (+0.36%) paced the gains in Asia and France’s CAC (-0.50%) lags in Europe. The S&P 500 is set to open little changed near 2,438.
Earnings reporting picks up a bit. Darden Restaurants reports ahead of the opening bell and KB Home releases its quarterly results after markets close.
US economic data flows. Case-Schiller home prices and consumer confidence will cross the wires at 9 a.m. ET and 10 a.m. ET, respectively. The US 10-year yield is up 1 basis point at 2.15%.