Morning Brief
Shutdown deal lifts stocks, Disney earnings on deck, AI bubble fears
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Show notes
US stock futures climb as Washington inches closer to ending the government shutdown. The Senate advanced a bipartisan bill 60–40 that would reopen the government through January 30, fully fund key programs like SNAP, and add new limits on President Trump’s power to fire federal workers. The House still needs to act, but hopes for a deal are fueling a risk-on rally, with Nasdaq (^IXIC) futures leading after last week’s AI-led selloff. A reopening would also bring long-delayed economic data back online, though the White House has already signaled this week’s CPI report is likely a full casualty of the shutdown.
Earnings remain in focus with Disney (DIS) set to report what’s expected to be its first adjusted profit decline in more than two years as revenue growth slows. Investors will be watching strength in parks and cruises, Disney+ pricing power, early demand for the new ESPN streaming service, and any hints on CEO Bob Iger’s successor before his planned 2026 exit. On the deal front, Pfizer (PFE) is buying obesity-drug startup Metsera after Novo Nordisk (NVO) dropped its bid, monday.com (MNDY) slides on tempered guidance, and Instacart (CART) pops on resilient grocery demand. All of it comes as strategists debate whether the AI boom is starting to look a lot like the dot-com bubble — even in blue-chip names.
Takeaways:
Senate advances shutdown deal that would reopen government through Jan. 30 and fully fund SNAP
Markets rally on hopes for a resolution and the eventual return of key economic data, even as this week’s CPI is likely scrapped
Disney earnings on deck: parks and cruises strong, streaming margins and ESPN DTC in focus, plus long-running questions about Bob Iger’s successor
Pfizer wins Metsera obesity-drug bidding war over Novo Nordisk; monday.com cuts guidance, Instacart beats on steady grocery demand
Strategists warn of “bubble-like” AI behavior even in high-quality names as trillion-dollar deals and mega pay packages pile up
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