Here's Myles Udland with a look ahead at what will be making headlines on Thursday.Read More »
As widely expected, the U.S. central bank said it would begin trimming its massive holding of U.S. Treasurys and mortgage-backed securities in October. The Fed also suggested it still expects one more interest rate hike before the end of the year, with investors projecting this would most likely happen in its final meeting of 2017, in mid-December. In Japan, the country's central bank left its policy settings unchanged and maintained its upbeat view of the economy. The Nikkei was up 0.32 percent after a fall in the yen against the U.S. dollar boosted exporters.
Japan's Toshiba Corp is expected to formalise the sale of its prized memory chip unit on Thursday to a group led by U.S. private equity firm Bain Capital, even as jilted suitor and joint venture partner Western Digital took fresh legal action. The embattled conglomerate said on Wednesday it had agreed to the sale, but the formal signing of the contract is awaiting commitment letters from all participants, sources have said. Toshiba, struggling to plug a yawning balance sheet hole, has been trying to sell its chip business since late January.
Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need