Wall Street looking to keep alive its winning streak in the new week as earnings season is set to kick off. The S&P 500 (^GSPC) is on a 4-day run higher-- the most since July-- following last week's disappointing September jobs report. Investors took the news as a sign the Federal Reserve won't be raising interest rates this year after all.
Yahoo Finance Senior Columnist Michael Santoli believes Wall Street wants to turn its attention away from the Fed now, but that might be a hard sell.
"The market is going to try to focus on corporate profits, company news, that's what most investor prefer to do" he says. "But I do think the macro is ever present."
American Apparel bankruptcy
American Apparel (APP) It's official-- the struggling retailer is filing for bankruptcy. American Apparel says the move will help reduce its crushing debt burden...and allow it to keep its stores open. The company has been fighting to stay afloat amid struggling sales and a protracted legal battle with founder and former CEO Dov Charney.
Twitter (TWTR) Also official today-- co-founder and interim CEO Jack Dorsey is no longer interim...he's been given the job permanently. Dorsey took over earlier this year after former CEO Dick Costello stepped down.
Fossil Group (FOSL) The maker of jewelry and accessories is being downgraded by Piper Jaffray, which is lowering its price target to $46 from $53. Piper saying it has concerns about the market for traditional watches as demand for smart watches increases.
Potash Corporation of Saskatchewan (POT) The huge fertilizer producer is ending its almost $9 billion bid for German rival K+S. Potash says weakening market conditions and refusal by K+S management to engage in talks led to the decision. K+S calls the offer too low.
Volkswagen (VLKAY) The carmaker's designated chairman calls the firm's cheating scandal a threat to the very existence of the company. Volkswagen is facing a Wednesday deadline to explain how it will fix 2.8 million cars in the German market following revelations the company rigged emissions tests in the US.
21st-Century Fox (FOXA) The media company's film, "The Martian," had quite a blast off at the box office in its opening weekend. Initial numbers show the space thriller starring Matt Damon brought in $55 million, easily putting it in first place and challenging another space hit, "Gravity," for the all-time record for an October opening.
Bernanke wanted jail time for executives
As the Fed ponders it’s next move, the Fed chief during the financial crisis is speaking out. Former Chairman Ben Bernanke tells USA Today more corporate executives should have gone to jail following the meltdown that led to the Great Recession. Bernanke is promoting his new book about the crisis called "The Courage to Act,"
There's new urgency in GE's (GE) plan to revive its businesses, and stock price. Activist investor Nelson Peltz just revealed his Trian Fund has a $2.5 billion stake in GE, making it one of the company’s top ten shareholders.
Will the Magic Kingdom zap you with higher ticket prices? The Wall Street Journal reports Disney (DIS) is considering going with surge pricing in an effort to reduce congestion, and raise attendance during off-peak times. It would be the first change to the company's pricing system in 60 years.
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