Economy
Traders Focus on Washington Ahead of Key Vote
By Investors Hub
The major U.S. index futures are pointing to a lower opening on Monday, with stocks likely to extend the pullback seen last week. The downward momentum on Wall Street comes amid weakness overseas following the decision by Republican leaders to withdraw their bill to repeal and replace Obamacare.
With traders keeping a close eye on developments on Capitol Hill, stocks saw some volatility over the course of the trading session on Friday. The major averages eventually ended the day on opposite sides of the unchanged line.
While the Nasdaq crept up 11.04 points or 0.2 percent to 5,828.74, the Dow fell 59.86 points or 0.3 percent to 20,596.72 and the S&P 500 edged down 1.98 points or 0.1 percent to 2,343.98.
Despite the mixed performance on the day, the major averages all moved notably lower for the week. The Dow slumped by 1.5 percent, the Nasdaq slid by 1.2 percent and the S&P 500 tumbled by 1.4 percent.
The volatility on Wall Street came as the House prepared to vote on a Republican bill to repeal and replace Obamacare.
Late in the trading day, House Republican leaders decided to withdraw the bill amid indications of a lack of support.
The move came despite vigorous efforts by President Donald Trump and House Speaker Paul Ryan, R-Wis., to build support for the legislation.
A number of more conservative lawmakers opposed the bill amid criticism that it did not go far enough to repeal the provisions of Obamacare.
Moderate Republicans were also concerned about predictions the plan would cause millions of people to lose their insurance.
Even if the Republican healthcare bill had been approved by the House, the legislation was expected to face an even tougher uphill battle in the Senate.
The inability to advance the bill could cast doubt on Trump’s ability to deliver on promises of increased infrastructure spending, tax cuts and deregulation.
On the U.S. economic front, the Commerce Department released a report showing a bigger than expected increase in durable goods orders in the month of February.
The report said durable goods orders jumped by 1.7 percent in February after surging up by a revised 2.3 percent in January.
Economists had expected orders to climb by 1.2 percent compared to the 2.0 percent spike that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.4 percent in February after edging up by 0.2 percent in January. The increase fell short of estimates for 0.6 percent growth.
Extending the trend seen over the past few sessions, most of the major sectors ended the day showing only modest moves.
Steel stocks saw considerable weakness, however, with the NYSE Arca Steel Index slumping by 1.4 percent. With the drop, the index fell to its lowest closing level in well over two months.
On the other hand, airline stocks moved notably higher, resulting in a 1 percent advance by the NYSE Arca Airline Index. Hawaiian Airlines parent Hawaiian Holdings (HA) posted a standout gain.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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