The markets are gearing up for the last trading week of March after hitting new record highs, with the major U.S. stock indexes on track for their fifth consecutive month of gains. Investors will be keeping a close eye on the Fed’s preferred inflation gauge data, set to be released on Friday.
Meanwhile, the European Union has launched an investigation into tech giants Apple, Alphabet, and Meta under the new Digital Markets Act legislation. The probe will focus on anti-steering rules and ad-free subscription models, raising concerns about competition in the tech industry.
Former President Donald Trump’s social media company, Truth Social, is set to go public after shareholders approved a merger with Digital World Acquisition Corp. The deal could potentially bring Trump a windfall of $3 billion, but shares of DWAC fell nearly 14% in Friday trading.
Biotech company Amgen is entering the weight loss drug market with a monthly injection treatment called MariTide, offering a different approach from its competitors. The drug aims to help patients maintain weight loss even after they stop taking it, potentially giving it an edge in the market.
President Joe Biden signed a $1.2 trillion spending package over the weekend, avoiding a government shutdown and keeping the government funded until October 1. The budget resolution ended a months-long saga in Congress and faced opposition from hardline House Republicans.
Overall, it’s shaping up to be an eventful week in the markets with a mix of record highs, tech investigations, social media IPOs, new drug developments, and government spending resolutions. Investors will be closely monitoring these developments as they navigate the trading week ahead.
