Here's a super-quick guide to what traders are talking about right now
Reuters/Brendan McDermid
The biggest news is in the mergers and acquisitions space. On Saturday, AT&T announced that it agreed to buy Time Warner for $107.50 per share, or $85.4 billion. And TD Ameritrade said on Monday that it is buying Scotttrade for about $4 billion.
It's the busiest week of earnings season. Visa reports after the closing bell on Monday. Apple, Tesla, and GM results are on deck later in the week.
Here's Lutz:
Good Morning! Format a bit different today ...
- US futures up 40-60bp. $100bln of deals on the tape (TWX, GNW, Scottrade, BEAV) ahead of the Busiest week of SPX earnings, with ~180 names reporting.
- Earnings propelling shares in Europe, and Spain jumping 1.5% as the country ended its 10-month leadership impasse.
- Banks continuing to act well across Europe, ahead of DB reporting on Thursday. EU Banks have regained Brexit Losses.
- Asia Mixed - Shanghai climbed 1.2%, Hong Kong popped almost 1%, Nikkei gained 30bp, tempered by weaker Trade data, while Aussie lost 40bp in broad-based selling.
- Euro is stronger early, as Eurozone PMI expands at fastest rate this year.
- US 10YY is breaking downside 200dma as German Bund Yields break back downside 0%.
- Oil Weaker despite $ coming in - Focus on Iraq saying they won't adhere to quotas.
- Base Metals still rallying - Ore up 2% in China on mill restocking - Turkish Scrap up another 1.3%.
Heavy List of Catalysts today:
ECO (8:30) - Chicago Fed Nat Activity Index
China (9) - Conference Board China September Leading Economic Index
FED (9) - Fed's Dudley Speaks at U.S. Treasury Market Event in New York
FED (9:05) - Fed's Bullard Speaks on Economy, Monetary Policy in Arkansas
ECO (9:45) - Markit US Manufacturing PMI
BOE (9:50) - Bank of England Bond-Buying Operation Results
ECB (12:15) - ECB's Nowotny Speaks at University Event in Vienna
FED (1) - Fed's Evans Speaks in Chicago
FED (2) - Fed's Powell Speaks at New York Fed Event on Treasury Market
C$ (3:30) - Poloz and Wilkins to Appear Before Parliament
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
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- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas