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Movers: Trump’s Budget and Fed Speakers

We’re following major developments in the markets throughout the day. Check below for the latest updates.

• The Trump administration will release its budget request, a package that calls for spending more than $2.6 billion on border security — including $1.6 billion to begin work on a border wall — and cutting more than $800 billion from Medicaid.

• Fed speakers: the president of the Federal Reserve Bank of Philadelphia, Patrick T. Harker, will deliver a speech in New York, while the president of the Minneapolis Fed, Neel Kashkari, will participate in a round table in Minneapolis.

• Don’t forget to read the DealBook Morning Agenda.

Germany continues to be upbeat about economic growth, with a closely watched index of business confidence in the country hitting an all-time high.

The rise in the Ifo Institute’s gauge was driven by a positive assessment from manufacturing, with many companies in the sector planning to raise production and forecasting an increase in prices.

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