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The latest Republican Obamacare repeal is being pushed through the Senate at lightning speed. The Graham-Cassidy-Heller-Johnson (GCHJ) bill is being pushed through the Senate because the Republicans’ ability to use the process known as budget reconciliation expires at the end of the month.
The Fed kicks off its two-day meeting. Expectations for a rate hike are almost zero as the Fed is expected to announce its plan for unwinding its massive balance sheet at the meeting’s conclusion on Wednesday.
Germany’s economic outlook improves. The ZEW Indicator of Economic Sentiment for Germany climbed 7 points to 17 in September as worries about the euro’s recent strength have “faded into the background,” according to ZEW President Professor Achim Wambach.
Retail investors have never been this bullish. The preliminary University of Michigan survey of consumer sentiment for September showed the mean expected probability that stocks would climb over the next year hit a record 65%.
Hackers targeted Equifax months before the massive data breach. Equifax systems were compromised months before the credit-reporting agency publicly announced a data breach that potentially exposed the personal financial data of 143 million Americans, Bloomberg says, citing people familiar with the matter.
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Toys R US files for bankruptcy. The toy retailer filed for Chapter 11 bankruptcy on Monday, a result of online competition and a huge debt load.
Deutsche Bank’s CEO faces its board. CEO John Cryan wraps up his meeting with the company’s board of directors on Tuesday amid growing frustration over his turnaround plan, Reuters says.
Stock markets around the world are mostly higher. Japan’s Nikkei (+1.96%) led the gains in Asia and Britain’s FTSE (+0.34%) paces the advance in Europe. The S&P 500 is set to open higher by 0.11% near 2,507.
Earnings reports trickle out. Adobe Systems, Bed Bath & Beyond, and FedEx all report after markets close.
US economic data flows. Housing starts and building permits will both be released at 8:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.22%.
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