The Dow extended Monday’s rally to close at another record high as the Federal Reserve began its two-day policy meeting in Washington.
First, the scoreboard:
- Dow: 22,375.08 +43.73 (0.20%)
- S&P 500: 2,506.78 +2.91 (0.12%)
- Nasdaq: 6,459.73 +5.09 (0.08%)
- A powerful earthquake jolted Mexico City, swaying buildings on the anniversary of a 1985 quake that did major damage to the capital. All Mexican exchanges were closed down. The peso dipped by 0.3% to 17.8121 per dollar.
- A trio of the world’s foremost asset managers got whacked on their ill-fated buyout of Toys R Us, which filed for bankruptcy protection Tuesday. KKR, Bain Capital, and Vornado Realty Trust acquired the toy retailer in a $US7.5 billion leveraged buyout in 2005 and now stand to see their investment wiped out, Bloomberg reported.
- Shares of T-Mobile and Sprint spiked after CNBC reported that the two wireless carriers were in talks for a possible merger for the third time. A merger of the two would be a stock-for-stock deal, with T-Mobile controlling shareholder Deutsche Telecom coming out with the most shares, CNBC reported.
- President Donald Trump threatened to “totally destroy North Korea” during his first speech to the United Nations General Assembly. In recent weeks, North Korea has ramped up its missile tests, sending shockwaves through world governments.
- A bipartisan group of 10 governors attacked the latest Republican attempt to repeal and replace the Affordable Care Act in a strongly worded letter to Senate leaders. Instead, the group said, the Senate should prioritise the bipartisan bill being drafted in the Senate Health, Education, Labour and Pensions Committee to stabilise the law known as Obamacare.
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