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Morning Brief: FOMC meeting kicks off today

Tuesday, December 18, 2018

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

WHAT TO WATCH TODAY

The highly-anticipated Federal Open Market Committee (FOMC) will be kicking off its two-day meeting. While the Fed is expected to raise interest rates following the meeting on Wednesday, close attention will be paid to the central bank’s language.

Additionally, Darden Restaurants (DRI) is scheduled to report earnings before the bell, while FedEx (FDX) and Micron (MU) will report after the market close.

Critical housing data will be released ahead of the market open. Housing starts for the month of November is expected to have grown at 0.2% rate to a seasonally-adjusted 1.23 million units, according to economists polled by Bloomberg. Housing data has been closely watched by investors as the recent slowdown in housing has been looked to as early signs of economic softening. Additionally, building permits for November is expected to have remained unchanged from October.

Read more

TOP NEWS

REUTERS/Danny Moloshok/File Photo/File Photo
REUTERS/Danny Moloshok/File Photo/File Photo

CBS denies Moonves $120 million severance: CBS Corp. (CBS) said on Monday it has fired Leslie Moonves for cause and has denied a $120 million severance package as it girds for a potential legal battle with its former chief executive who has been accused of sexual harassment and assault that allegedly took place before and after he joined the company. [Reuters]

Shell eyes deal for Endeavor Energy as price tag drops: Royal Dutch Shell Plc is in negotiations to buy Endeavor Energy Resources LP for about $8 billion, according to people familiar with the matter, or roughly half as much as the Texas oil producer was expected to fetch when it put itself on the block this year. [Bloomberg]

T-Mobile, Sprint win U.S. security approvals for merger: T-Mobile US Inc. (TMUS) and Sprint Corp. (S) have won backing for their $26 billion merger from two national security reviews on Monday, clearing key hurdles in their tie-up bid. [Reuters]

Xi Jinping says no one can dictate reforms to China: President Xi Jinping said China would stick to its policy agenda, despite pressure from the U.S. and others to allow more competition in its economic system and reduce support for state industry. [Bloomberg]

It will take 108 years to close the global gender gap: It is going to take 108 years to close the overall gender gap and 202 years to bring about parity in the workplace, says the World Economic Forum. WEF’s Global Gender Report 2018 warned that while strides had been made in gaining equality in pay and promotions, stagnation in the proportion of women in the workplace had offset reducing the gender gap. [Yahoo Finance UK]

Related:

-The health and survival of US women is holding back gender equality [Yahoo Finance UK]

-How women are already losing in the war against robots taking their jobs [Yahoo Finance UK]

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