5 things you need to know Monday
Happy Birthday, Princess Charlotte
Princess Charlotte of Cambridge turns 1 on Monday. Kensington Palace released four new photos of the princess — full name Charlotte Elizabeth Diana of Cambridge — to mark the occasion. Charlotte is the fourth-in-line to the throne, after her grandfather, Prince Charles; father, Prince William; and brother Prince George.
Puerto Rico headed for default
The confrontation between debt-swamped Puerto Rico and its creditors is intensifying as the U.S. territory will default on payments due Monday, deepening the island's financial crisis and placing additional pressure on Congress to intervene. The debt crisis threatens to resuscitate moribund ideological debates over the propriety of federal bailouts and the impact of fiscal mismanagement on the lives of real people faced with insufficient services.
Hearing to be held for Prince's estate
A hearing will be held on Monday to begin the process of determining what to do about Prince's estate. Prince Rogers Nelson died suddenly, at 57, at his Paisley Park compound outside Minneapolis on April 21. The cause of death has not been released, pending further testing. Since then, his estate, including property and his music catalog, including unreleased material, has been estimated to be worth about $300 million. His sister, Tyka Nelson, says he died without a will.
Sell in May? Not so fast!
Monday marks the first trading day of May, and ushers in what has historically been the worst six-month stretch for stocks. An old Wall Street adage coined by The Stock Trader’s Almanac says it may make good dollars and sense to steer clear of stocks for the next six months. And while there’s no denying that history shows the May-through-September period delivers far lower stock returns than the more bullish October-through-April time frame, USA TODAY's Adam Shell says implementing this extreme market-timing approach to investing might be a bit of overkill.
Detroit teachers union calls for district-wide sick-out Monday
The union representing Detroit Public Schools' more than 2,600 teachers is calling for a district-wide sick-out on Monday, likely shutting down all the schools serving more than 46,000 students. The action, announced at a hastily called news conference Sunday afternoon, comes after DPS Emergency Manager Judge Steven Rhodes announced to the union Saturday that without a dramatic infusion of cash from the state, Detroit Public Schools will all but shut down after June 30, leaving teachers without paychecks and students without summer school or extended special education services.
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And the essentials:
Weather: There is more wet weather heading for the East and Southeast.
Stocks: Major market index futures were higher ahead of the first day of regular trading in May, while Japanese stocks continue to weigh down the Asian markets.
TV Tonight: Wondering what to watch tonight? TV critic Robert Bianco looks at Gotham and the NCIS season finale.
Humankind: Be inspired: Pure happiness on faces of foster kids on their adoption day.
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