Here is what you need to know.
The Federal Reserve kept policy on hold. The Fed held its key interest rate unchanged at a range between 0.25% and 0.50%, stating “The Committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives.”
Wall Street wants the UK to delay Brexit for as long as possible. At a meeting in New York, Wall Street heads asked prime minister Theresea May for a “long lead time” of up to two years in order to prepare for a Brexit, the Financial Times reports.
Indonesia cut rates. Bank Indonesia lowered its benchmark interest rate 25 basis points to 5.00% and Governor Agus Martowardojo hinted at the possibility of further easing, saying “We are monitoring, if all economic indicators are maintained, we are still in an easing condition, a loosening condition, and this loose condition will continue until the end of this year to early 2017.”
Oil keeps rallying. West Texas Intermediate crude oil is up 1.1% at $45.83 per barrel, making for a fourth straight day of gains.
Hanjin Shipping got some good news. The board of Korean Air Lines, Hanjin’s biggest shareholder, approved a 60 billion won ($53.96 million) loan to the shipper, sending shares higher by 28%.
UnitedHealth is going to stop covering some brand name drugs. The largest US health insurer says it will stop coverage of Lantus, the main insulin drug sold by Sanofi SA, and Amgen’s white blood cell-boosting drug Neupogen, Reuters reports.
Yahoo is going to confirm a historic hack. Recode’s Kara Swisher reports, Yahoo sources tell her the company is preparing to publicly confirm the hack’s existence, suggesting it is “widespread” and “serious.” Back in August, Motherboard’s Joseph Cox reported that 200 million apparent Yahoo user credentials were being sold on the dark web.
Hedge fund legend Leon Cooperman was charged with insider trading. According to the Securities and Exchange Commission, Cooperman used his status as one of Atlas Pipeline Partners’ largest shareholders to “obtain confidential details,” and then bought shares after agreeing not to use the information for trading purposes.
Stock markets around the world are higher. Australia’s ASX (+0.7%) led the overnight gain, and Germany’s DAX paces the advance in Europe. S&P 500 futures are up 7.25 points at 2,163.50.
US economic data flows. Initial jobless claims will be released at 8:30 a.m. ET and existing home sales will cross the wires at 10 a.m. ET. The US 10-year yield is down 1 basis point at 1.64%
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.