Morning Briefing: Biden to urge more scrutiny of tech mergers and data privacy

Market snapshot

Stock futures were mostly higher in early morning trading Friday a day after the major indexes fell amid concerns of a slowdown in global economic growth.

Futures on the Dow Jones Industrial Average rose 196 points, or 0.6%. S&P 500 futures bounced by 0.3%. Nasdaq-100 futures were slightly lower.

Top news

Biden to urge more scrutiny of tech mergers and data privacy

President Biden on Friday will encourage federal agencies to crack down on the way major tech companies grow through mergers and gain a competitive advantage by leveraging reams of consumer data, as part of a larger executive order aimed at dispersing corporate consolidation throughout the economy.

Europe proposes new agency to tackle money laundering problems

The agency would be part of a broader plan to address failures that have made the region a haven for financial crime.

Bond rally spreads to shorter-term treasurys

The decline in yields suggests investors think it could take longer for the Fed to raise interest rates.

Thoma Bravo plots next fund in red-hot market for tech deals

The private equity firm aims to return to the fundraising trail less than a year after raising $22.8 billion for three technology-focused private-equity funds.

Investors take aim at Carver Bancorp as next short-squeeze target

Individual investors on the hunt for the next stock market win piled into Carver Bancorp, sending shares of the banking-services company on a wild ride Thursday before finishing 107% higher for the day.

Bank of Mexico Board divided over inflation risks

Two Bank of Mexico officials who voted against last month's interest-rate increase said the supply shocks pushing up inflation are likely to be temporary, and that tighter monetary policy will do little to address them.

Why rising oil prices are unlikely to kill the economic recovery