Japanese Prime Minister Shigeru Ishiba’s ruling coalition failed to secure a majority in the 248-seat upper house in a crucial parliamentary election, Japan’s NHK public television said Monday.

Good morning. Shigeru Ishiba says he’ll stay put—despite a historic election setback. Some investors worry that disappointing earnings or economic data may derail the S&P 500’s red-hot rally. And Astronomer CEO Andy Byron steps down after the now-infamous Coldplay concert incident.

If the current ruling party loses its majority, the country’s waters could become uncharted at a critical time.