Morning Business Report: Housing affordability bill becomes law as Michael tops $1 billion

(LILAMAX)- A bipartisan housing affordability bill is now law after taking effect without President Donald Trump’s signature. Trump had said he would not sign the measure because the Senate had not passed the SAVE Act, which would change voting rules. While lawmakers from both parties praised the legislation, some housing experts say its impact on home prices could be limited because local laws and regulations play a major role in determining housing costs.

Investors are preparing for a busy week on Wall Street. JPMorgan Chase, Citigroup and Wells Fargo are among the major banks set to report earnings, while two key inflation reports are also scheduled for release. Federal Reserve Chair Kevin Warsh is expected to deliver his semiannual monetary policy testimony before Congress on Tuesday and Wednesday.

The S&P 500 closed higher Friday, finishing the week with gains as technology stocks advanced and cooling oil prices helped lift the market.

A new Talker Research survey found one in four Americans believes they could score a penalty kick against a professional World Cup goalkeeper. Younger adults were the most confident, and the survey also found one-quarter of workers admitted skipping work at least once or twice to watch World Cup matches.

Meanwhile, Lionsgate’s Michael Jackson biopic, Michael, has surpassed $1 billion at the global box office, becoming the studio’s first film to reach that milestone. The movie achieved the feat despite early concerns from major studios over taking on the project because of the singer’s controversial legacy.