Wall Street’s winning streak (^GSPC) could come to a halt today as global growth concerns resurfaced and investors look ahead to the Fed minutes this afternoon for any clues into why Janet Yellen and company opted not to hike rates in September.
Yahoo Finance Senior Columnist Michael Santoli says the Fed is likely to offer some hints on what was behind the 9-to-1 vote, when everyone expected a close call.
“What might be interesting is to figure out exactly what factors seemed most in play, getting people on the side of not raising rates.”
Meanwhile, people filing for unemployment benefits fell last week. The Labor Department reported that first-time jobless claims declined by 13,000 to 263,000 last week. That’s the lowest level since mid-July.
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Fiat-Chrysler/UAW avert strike
Fiat Chrysler (FCAU) The carmaker and the United Auto Workers agreed to a revised contract deal overnight, averting a strike. The union says the new deal provides what it calls significant gains for its members. The rank and file rejected the previous settlement worked out by the two sides.
Lumber Liquidators (LL) The flooring retailer has put one big problem behind it. The company says it has settled with the Justice Department over accusations it violated environmental laws by purchasing lumber from certain overseas suppliers. As part of the agreement, Lumber Liquidators will pay $10 million in penalties. Of course, the company continues to struggle following a "60 Minutes" report in March suggesting its flooring from China contained high levels of a cancer-causing substance. Lumber Liquidator denies the charge but has pulled the products from its shelves.
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Deutsche Bank (DB) It's a shocker from Europe's biggest bank-- the company says tougher regulations are hitting it hard in the pocket book. Deutsche Bank is warning of an almost $7 billion loss in the quarter...and might have to cut its dividend. The bank says new financial industry rules are hurting its investment banking business.
Domino's Pizza (DPZ) The pizza delivery chain is reporting a miss on both its top and bottom lines in the third quarter. Domino's is repeating a common refrain from corporate America this year-- the strong dollar impacted sales overseas. The company also was hit by increased insurance costs.
Etsy (ETSY) The Brooklyn-based Internet marketplace for handmade goods has some company today...some BIG company...It's Amazon (AMZN). The giant online retailer launched its own location this morning called "Handmade at Amazon." The company says "Handmade at Amazon" offers 80,000 items from dealers in 60 countries.
Tech titans talk merger
A potential big move in the tech world. Dell and private equity firm Silver Lake are in advanced talks to buy data storage firm EMC (EMC), according to several reports. The near $50 billion deal would make it the largest tech takeover ever.
Now to another deal in the works - in the entertainment world. The Wall Street Journal reports Sony is close to selling off half of its Sony (SNE)/ATV Music Publishing business, which it co-owns with the Michael Jackson estate.
Clinton targets Wall Street
Finally - turning to the race for 2016. Hillary Clinton is setting her sights on Wall Street, unveiling a plan later today to curb risk-taking in the markets and to hold more individuals accountable for wrongdoing.
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