U.S. stock index futures are on course to climb 0.5% at the open after the DJIA, S&P 500 and Nasdaq closed the session on Monday back where they started. Bond yields are edging higher, with the 10-year Treasury note up 3 bps to 2.45%, easing the market's worries about an inverted yield curve and looming recession. The next signals investors will be looking to is a full day of Fedspeak, with speeches ahead from Fed Presidents Charles Evans, Patrick Harker and Mary Daly.

DOJ moves to strike down entire ACA

The U.S. Department of Justice has filed a motion calling for ObamaCare to be struck down in its entirety, siding with a Texas federal district court that had decided the individual mandate was unconstitutional. Hospital and health insurer stocks plunged following that ruling in December. Previously the DOJ was focused on eliminating mandatory coverage for people with pre-existing conditions, but under Attorney General William Barr the federal government's position has now changed.

Another legal health battle... against the opioid crisis

Oklahoma Attorney General Mike Hunter will hold a press conference today to announce a "breaking development" in a multibillion-dollar lawsuit accusing OxyContin maker Purdue Pharma, J&J (NYSE:JNJ) and Teva (NYSE:TEVA) of helping fuel an opioid epidemic in the state. Oklahoma's top court yesterday declined to delay the landmark trial set for May, while reports suggested Purdue Pharma would settle the suit and was exploring filing for Chapter 11 to address potential liabilities. It would be the first trial to result from around 2,000 lawsuits nationally against opioid manufacturers.

Uber conquers the Middle East with $3.1B deal

Ending another cutthroat ride-hailing battle ahead of an expected IPO, Uber (UBER) has agreed to acquire Careem for $3.1B. Cost breakdown? The company will pay its rival $1.4B in cash and $1.7B in notes that will convert at a price of $55 a share, which is 12% higher than the $49-a-share value paid by investors in an Uber financing round in September. Careem is now active in 84 cities in about 15 countries in the Middle East and will help Uber achieve its goal of having 1B users across the globe.

Parliament takes control of the Brexit process

The move comes after Prime Minister Theresa May admitted her Brexit deal didn’t have enough support to put it to another vote. May also said more clearly that she won't lead the U.K. over the no-deal cliff without parliament's consent, meaning a long Brexit extension is now shaping up as the most likely outcome. U.K. lawmakers tomorrow will vote on alternatives to her unpopular deal, which will probably include a second referendum, staying in the customs union and single market, or even canceling Brexit altogether. Sterling +0.3% at $1.3235.

Final vote for EU's controversial copyright law

The European Parliament is scheduled for a final vote today on a hotly-contested provision that would overhaul the EU's copyright system. Article 13 would place heavy restrictions on content sharing, ranging from videos to memes and GIFs. If the directive passes, platforms like YouTube (GOOG, GOOGL), Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) would be forced to implement "upload filters" to ensure material doesn't run afoul of a copyright or risk being sued.

Monday's Key Earnings
Red Hat (NYSE:RHT) +0.2% AH on mixed results. Full earnings coverage

Today's Markets
In Asia, Japan +2.2%. Hong Kong +0.2%. China -1.5%. India +1.1%.
In Europe, at midday, London +0.3%. Paris +0.6%. Frankfurt +0.1%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.4%. Crude +1.3% to $59.56. Gold -0.7% to $1313.60. Bitcoin -1.5% to $3909.
Ten-year Treasury Yield +3 bps to 2.45%

Today's Economic Calendar

3:45 Fed's Harker: Economic Outlook
8:00 Fed's Harker: Economic Outlook
8:30 Housing Starts
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
1:00 PM Results of $40B, 2-Year Note Auction
8:30 PM Fed's Rosengren Speech