Central banks in US and Japan hold the keys to Wall Street
To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://view.response.cnbc.com/?qs=7afb0925a0e84599ca1629875e618cc84695bfadd0455bccaa5944ca896474977c1cf3a5405f260c7b88f80b27cadb4e6783bd8568630e42f11f9d16a7fa2bf5CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=7afb0925a0e84599ca1629875e618cc84695bfadd0455bccaa5944ca896474977c1cf3a5405f260c7b88f80b27cadb4e6783bd8568630e42f11f9d16a7fa2bf5 here. https://click.response.cnbc.com/?qs=efec67258674a40e2045e138359ff7eab6b88d0b48495b1c6eba6490ce48496bf14c2bc77596d698 https://click.response.cnbc.com/?qs=efec67258674a40eba2bac6d8a56669ea6fb3face84bef55e0cf3fdf24f1471c64d1f02474979bd1 IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=efec67258674a40e8c8623fab1054c318fcdc8fbbc2ceb6b9359e0ec662cf1cc8cfd72785041fa41 were higher , ahead of this morning's start of Fed's two-day September meeting. Wall Street gave up strong Monday morning gains to close slightly lower. Apple (AAPL), which soared nearly 12 percent last week, was a drag on the market. (CNBC) https://click.response.cnbc.com/?qs=efec67258674a40e27c9166f2133788e36165155238f4d0aad43409e0a4887f2f8e7d8f2aa6aafc2 The Fed releases its policy statement and economic projections tomorrow afternoon, and central bank chair Janet Yellen holds a post-meeting news conference. Expectations are low for an interest rate hike, but December is at about 50 percent odds. (CNBC) https://click.response.cnbc.com/?qs=efec67258674a40e2385667ba7bffc7159f0f7da78572679411fc545a910e1c772b7afbf20720d58 Perhaps overshadowing the Fed , the Bank of Japan also begins a two-day meeting today, with talk the central bank there could cut rates further into negative territory, but reduce purchases of long-dated bonds, while continuing to short-dated purchases. (CNBC) https://click.response.cnbc.com/?qs=efec67258674a40e61f22aac90679954d361a1e07bac0ed9a8d2f3adb74836442ccc06b3527250c6 Oil was under some pressure this morning, after Venezuela said global supplies were 10 percent oversupplied. Technical indicators also pointed to cheaper prices. U.S. crude rose Monday, the second advance in three sessions. (Reuters) https://click.response.cnbc.com/?qs=9eaec70762188eb76442dae9e734865b8b238dbed292d70176ff13bb96567f819b7d49b6ae005b51 https://click.response.cnbc.com/?qs=9eaec70762188eb72f1b3dfe64c64a33fab8844125799d317d0c7bf6fb716ff5fc95349ea1590655 https://click.response.cnbc.com/?qs=9eaec70762188eb77cc4ddaa64087e5cd880afac0b7e8a2f2e4f6bbd7daf098056a7380b54f4ddbe Ahmad Khan Rahami, the suspect in a series of explosions in New York and New Jersey, https://click.response.cnbc.com/?qs=9eaec70762188eb79e48ef0d67f53982f03f80fa2b673b4a8b6af857996380ea4791057f87ace899 was charged with five counts of attempted murder of a law enforcement officer in a shootout with police Monday morning in New Jersey. (NBC News)Authorities said the https://click.response.cnbc.com/?qs=9eaec70762188eb7eab4a927c6b9a1be20a93f412d1150174cb55bea18362db3d8d33a7e860b9984 key to breaking the case was a fingerprint found on an unexploded bomb in New York. Meanwhile, flip phones used on devices Chelsea and Seaside, New Jersey were both bought at same store last year. (NBC News)President Barack Obama https://click.response.cnbc.com/?qs=9eaec70762188eb7768d525dac4780b278e4e89074890614cf547fb6cabfdc7156666478b54a3123 plans to push world leaders today to do more to meet the needs of the world's refugees, in his final address as president to the annual United Nations summit in New York. (USA Today)Against the backdrop of the U.N. gathering, billionaire investor George Soros https://click.response.cnbc.com/?qs=9eaec70762188eb78674c0cc74ed81cbc6e62013bd778c24b546e1aa1bfed5460d9a709c3d6a95fb is pledging to invest up to $500 million in programs and companies benefiting migrants and refugees fleeing life threatening situations. (CNBC)Donald Trump Jr. https://click.response.cnbc.com/?qs=9eaec70762188eb7fceda487489828c314e4ddccce09f0771b786594b0d359748860acf8b6479aa9 set off Twitter outrage , comparing Syrian refugees to poisonous Skittles candy. His tweet read: "If I had a bowl of skittles and I told you just three would kill you. Would you take a handful? That's our Syrian refugee problem." (CNBC)The possibility of a Donald Trump victory over Hillary Clinton, although still small, https://click.response.cnbc.com/?qs=9eaec70762188eb7ed58087831d77c4c71ef60e37c31bc95714ee2b24efe042c3d7032ab7db9f1e7 has risen among U.S.-based business leaders, while expectations that Clinton will assume the presidency have fallen. (CNBC) George H.W. Bush, who lost his presidential re-election campaign to Bill Clinton in 1992, https://click.response.cnbc.com/?qs=9eaec70762188eb7b08cb2cb0befba323b1a3c50ab085a2a87258b5a836df888494f0816beaf0b9e plans to vote for Hillary Clinton. That's according to Kathleen Kennedy Townsend, the former Maryland lieutenant governor. (Politico)The federal government https://click.response.cnbc.com/?qs=9eaec70762188eb76ae03dc4d3a62915c360b5ef838e36c3602226f8a0547d74ee2c320c50c4e75b is issuing new self-driving vehicle guidelines. Effective immediately, the rules tell automakers, suppliers, and tech firms what's expected as they develop and deploy automated technologies. (CNBC) https://click.response.cnbc.com/?qs=9eaec70762188eb74ff0d46551e272b2544c905e3f84f3fe72e2bc75356588a41dc2c1e2b58bf5ed In prepared testimony , Wells Fargo Chairman and CEO John Stumpf plans to tell the Senate Banking Committee at a hearing today he's "deeply sorry" for the unauthorized account scandal, and takes "full responsibility." (NY Times)Samsung said its investigation into one of two reports of Galaxy Note 7 fires in China found no battery problem. The electronics giant announced a global recall of 2.5 million devices due to complaints of batteries burning up. (AP)Wal-Mart (WMT) https://click.response.cnbc.com/?qs=9eaec70762188eb73335244827e3247b42e505844828386e8bc93fc272da095d8bcdc87f541b8892 has completed its $3 billion acquisition of internet retailer Jet.com. Jet's founder Marc Lore, who's joining Wal-Mart as head of U.S. e-commerce, gets a huge payday from the deal. (Reuters)As General Motors (GM) looks to take on Tesla's (TSLA) upcoming Model 3 mass market electric car, it https://click.response.cnbc.com/?qs=9eaec70762188eb75dd1e2df4ff20f52a47cee2c4a044bd21bddd546709cb2315d4960eff9622194 set the price on the Chevrolet Bolt at $37,495, below $30,000 once a federal tax credit is applied. (USA Today)GM and the Canadian autoworkers union announced a https://click.response.cnbc.com/?qs=9eaec70762188eb77d29863babcee8eb278920a8802c17762ea73708d67e039662342fd391678b40 tentative contract deal early this morning, averting a 3,900-worker strike that would have shut some manufacturing facilities north of the border. (Reuters)American Airlines (AAL) employees today https://click.response.cnbc.com/?qs=9eaec70762188eb78a02a3300291b194faedb08b86146c86b3835fe1257a9ceedc34f22709647827 start wearing a new uniform, the first in nearly three decades, representing one of the last transitions of the American-US Airways merger, which closed in late 2013. (USA Today)BY THE NUMBERS Investors will be parsing this morning's August housing starts and building permits data for signs of excessive weakness or strength that might sway the Fed. Economists see starts falling 1.7 percent and permits rising 1.8 percent.On the earnings front, Dow transportation component FedEx (FDX), software maker Adobe Systems (ADBE), and home builder KB Home (KBH) are out with quarterly results after closing bell on Wall Street this afternoon.Ascena Retail (ASNA) reported adjusted profit of 8 cents per share, half of what Wall Street had been expecting. The Ann Taylor parent also warned on guidance. The stock was down more than 20 percent in the premarket.Homebuilder Lennar (LEN) reported better-than-expected adjusted earnings of $1.01 per share. Revenue of $2.83 billion also exceed forecasts. Orders for new homes were up 8 percent.STOCKS TO WATCH Community Health Systems (CYH) was soaring in premarket trading; up about as much as Monday's loss on reports that the company is in talks to sell assets to Apollo Global Management (APO). Billionaire investor Carl Icahn slashed his stake in Chesapeake Energy (CHK) by more than half. Icahn cited tax planning as the reason for the move, which reduced his stake to 4.55 percent from 9.4 percent. Pier 1 Imports (PIR) now has hedge fund firm Alden Global Capital as a 9.5 percent shareholder. The fund said it has been in contact with the home goods retailer's management about representation on the board. JPMorgan (JPM) is naming Berkshire Hathaway (BRK.A) investment officer Todd Combs to the bank's board.Intel (INTC) named Bob Swan as its next chief financial officer, replacing longtime CFO Stacy Smith. Swan was eBay's (EBAY) CFO for nine years and helped guide the spinoff of PayPal (PYPL). FedEx (FDX) plans to raise shipping rates in 2017, with an average 3.9 percent increase at FedEx Express and 4.9 percent for its ground services. RivalUPS (UPS) recently unveiled an average rate increase of 4. 9 percent. WATERCOOLER Fast food chains https://click.response.cnbc.com/?qs=9eaec70762188eb7dff91b80d0b6dc50a56ab2c7379a666a112d0fe912ea112214e0385c52caff64 are testing upscale menu items, such as a Pesto Mozzarella Melt at McDonald's (MCD) and Truffle Bacon Cheeseburgers and Bacon Truffle Fries at Wendy's (WEN). (CNBC) CONTRIBUTORS https://click.response.cnbc.com/?qs=9eaec70762188eb7451389238e97b96515d0699ac8507efb3dce774419ce13a9932166dd711ef408 https://click.response.cnbc.com/?qs=9eaec70762188eb7451389238e97b96515d0699ac8507efb3dce774419ce13a9932166dd711ef408 Matthew J. 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