A daily market update from FS Insight — what you need to know ahead of opening bell

"Culture, opportunity, & rewards retained our folks, not some lousy contract." — Dug Song, co-founder of Cisco-acquired cybersecurity firm Duo Security, in an X post about why his company never used noncompete agreements, which the FTC has moved to ban

Overnight

Biden signs foreign aid bill, clearing way for more military gear for Ukraine (WSJ)

McKinsey under criminal investigation over opioid-related consulting (WSJ)

Business groups race to block FTC’s ban on noncompete agreements (WSJ)

Airlines required to refund passengers for canceled, delayed flights per new DOT rules (ABC)

DOJ requests 36-month sentence for Binance founder Changpeng Zhao (Axios)

Mortgage rates reach new high for 2024 (Axios)

TikTok is gearing up for a First Amendment battle with the U.S. after President Joe Biden signed a measure that presents the gravest threat yet to the app’s future (Semafor)

Japan to deploy an interpreter and ‘Trump whisperer’ who helped former PM Shinzo Abe bond with the former president over golf (RT)

Cocoa price swings are the wildest since the 1970s (BBG)

Nvidia to buy two Israeli startups that make its AI chips cheaper t...

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