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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.
What to Watch For:
• 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.
Index of German Business Confidence Hits All-Time High
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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A Billionaire Online Warrior: Bill Ackman, an obstinate hedge-funder who loves a public crusade, has used X to push himself into a new realm of celebrity.
Cancel Smartphones: The N.Y.U. professor Jonathan Haidt became a favorite in Silicon Valley for his work on what he called the “coddling” of young people. Now, he has an idea for fixing Gen Z.
Landline Pride: Traditional phones may seem like relics in the iPhone era, but a recent AT&T cellular service outage had some landline lovers extolling their virtues.
C.E.O. Dreams: Fresh business school graduates are raising “search funds” from willing investors to buy companies they can lead.
Nelson Peltz Wants Respect: The longtime corporate agitator feels misunderstood. Maybe his fight with Disney could change that.
The Palm Oil Supply Chain: An E.U. ban on imports linked to deforestation has been hailed as a “gold standard” in climate policy. Southeast Asian countries say it threatens livelihoods.
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