TOP STORIES
AT&T, TIME WARNER SHARES DROP AMID INVESTOR SKEPTICISM
AT&T can add Wall Street to the list of skeptics regarding
its $85 billion deal to buy Time Warner. The media giant's share
price fell, meaning the market is figuring a 40% chance the merger
will be approved, a fund manager said.
STOCKS RISE, SPURRED BY DEALS, EARNINGS
U.S. stocks gained Monday, but were off their best levels of the
session in early-afternoon trading, as companies unleashed a fresh
round of deals and earnings.
TD AMERITRADE TO ACQUIRE SCOTTRADE
TD Ameritrade agreed to acquire Scottrade Financial Services for
$4 billion in a deal that merges two popular online discount
brokerages facing pressures from declining trading volumes and
shifts in technology.
BURGER KING PARENT REPORTS SLOWING SALES GROWTH
Restaurant Brands International Inc. is the latest restaurant
company to report cooling sales.
U.S. OVERSIGHT OF METLIFE CALLED INTO QUESTION AT COURT HEARING
U.S. oversight of MetLife was called into question at a court
hearing where the Obama administration sought to reassert the
federal government's authority to regulate the large insurance
firm.
SWISS NATIONAL BANK CHIEF DEFENDS NEGATIVE INTEREST-RATE POLICY
Swiss National Bank Chairman Thomas Jordan defended his bank's
negative interest-rate policy, saying it averted a steeper rise in
the franc which would have crippled the export-dependent
economy.
T-MOBILE PROFIT CLIMBS AS IT ADDS 2 MILLION CUSTOMERS
T-Mobile US Inc. reported earnings and revenue growth in the
most recent quarter, helped by a growing customer base as it ramps
up pressure on competitors.
CFTC'S MASSAD WEIGHING TWEAKS TO AUTOMATED TRADING RULE FOR TREASURYS
Commodity Futures Trading Commission Chairman Timothy Massad
said he favors modifications to an agency proposal for regulating
automated trading firms in Treasury markets.
KIMBERLY-CLARK IS BRACING FOR MORE QUARTERS OF SLUGGISH SALES
The maker of Kleenex tissues and Huggies diapers lowered its
financial forecasts Monday.
EU, CANADA TRADE DEAL BLOCKED BY BELGIAN OPPOSITION
Belgium said it wouldn't support a trade deal between the
European Union and Canada after one of its regions continued to
block the pact, dashing hopes of signing the accord later this
week.
TREASURY'S WEISS: `COMPELLING BENEFITS` FOR SHARING TRADE DATA WITH PUBLIC
Antonio Weiss, counselor to the Secretary of the U.S. Treasury
Department, said Monday he sees a role for sharing newly collected
data on government bond transactions with the public, not only the
official sector.
BANK OF CANADA MAINTAINS INFLATION-CONTROL TARGET
The Bank of Canada said it planned to maintain its central
inflation target at 2% for the next five years but would change the
way it measures core inflation.
CHICAGO FED NATIONAL ACTIVITY INDEX PICKED UP IN SEPTEMBER
Economic growth across the U.S. picked up in September,
according to a report released Monday
MEXICAN INFLATION EDGES ABOVE CENTRAL BANK'S TARGET
Mexico's inflation rate moved above the central bank's 3% target
for the first time in a year and a half, pushed up in the first
half of October by higher energy costs and the effects of a weaker
peso.
WRANGLER MAKER VF CORP. CUTS GUIDANCE AS SALES SLOW
VF Corp.-which owns brands like Wrangler, Timberland and North
Face-trimmed its guidance Monday as the apparel conglomerate
continued to cope with weak demand for denim and sportswear.
AMC SEES LESS-THAN-EXPECTED REVENUE GROWTH
AMC Entertainment Holdings Inc. said it expects revenue in the
September quarter to come in below Wall Street expectations.
CHINA'S HNA GROUP TO BUY 25% STAKE OF HILTON
Chinese conglomerate HNA plans to buy a roughly 25% stake in
Hilton Worldwide from Blackstone Group for $6.5 billion, the latest
move into American real estate by a Chinese firm.
MAY SAYS U.K. REGIONS WILL HAVE SAY OVER BREXIT TERMS
Prime Minister Theresa May tried to assure regional chiefs they
will have a say in the U.K.'s departure from the EU, but Scotland's
leader expressed frustration with what she said was the continuing
lack of information from London.
FED'S DUDLEY WEIGHS SCOPE FOR SHARING TREASURY DATA WITH PUBLIC
Federal Reserve Bank of New York President William Dudley said
regulators have been sharing data they have collected on the
changing nature of the U.S. Treasury market and their next step is
weighing what transaction level information should be shared with
market participants.
FED'S BULLARD STILL READY FOR ONE MORE RATE RISE BEFORE HOLDING STEADY
St. Louis Fed President James Bullard said very low rates are
likely to persist well into the future, reiterating his view that
the U.S. central bank likely only needs to raise rates one more
time before holding steady.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Capital Journal
THE REAL PROBLEM OF THIS ELECTION: LACK OF A MANDATE
This year's presidential race is almost devoid of serious policy
debate. And that in turn means it isn't producing any clear mandate
for those who must try to govern after it ends, writes Gerald F.
Seib.
Markets Main
CELLPHONE USE TO DETERMINE FICO SCORES ABROAD
Fair Isaac Corp., or FICO, plans to announce Tuesday that it
will start letting nonfinancial information help determine credit
scores, although it isn't planning on incorporating this data into
scores for U.S. consumers.
(END) Dow Jones Newswires
October 24, 2016 13:11 ET (17:11 GMT)
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