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Twitter earnings preview; Argentina debt deadline; More than 1 in 3 facing debt collection

The Federal Reserve kicks off its two-day meeting today. Investors will want to see if Fed will reduce its bond-buying program by another $10 billion, as well as when it will raise interest rates. The Fed will make an announcement on policy decisions tomorrow at 2 p.m. Eastern.

Twitter (TWTR) is scheduled to release its second quarter earnings report this afternoon. In addition to user growth and ad revenue, many were looking for the micro-blogging site to release new metrics to show that Twitter reaches people in the general public who aren't signed up to use the site, like Ellen DeGeneres’s Oscar selfie that received massive exposure beyond Twitter. However, Recode reported that Twitter will not release those new metrics today.

Yahoo Finance Senior Columnist Michael Santoli said it makes for Twitter to bring attention to the fact that tweets appear in other places on the Internet and on TV. “That matters,” he said. But Santoli also said it’s important for Twitter executives to get on the same page, and get on the same page with Wall Street, to determine how the company will be judged, what is defined as success and then benchmarking against it.

Tomorrow is the deadline for Argentina to comply with a U.S. court ruling to repay $1.3 billion to bond holders or go in to default. Negotiators are scheduled to meet in New York today, but only a stay in ruling or complete payment will stop the country from going into default.

More than a third of Americans have debts that have been reported to a collection agency. A study by the Urban Institute said that 35.1% of Americans with credit records have debt averaging $5,178 that went to collection. The study was based on recods from September, 2013. Have you ever had a bill or a debt reported to a collection agency? How did it impact your credit or your job prospects? Tell us your story in the comments or leave us a message on Twitter.

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