When markets trade on emotions you have to be ready for sometimes violent mood swings. Mr. Market was happy on Thursday and Friday as a short-term debt solution looked near. But this morning his mood is dark as negotiations appear to have broken down. Stock markets look to open lower this morning. Bond markets are closed for Columbus Day celebrations.
Apple will unveil its newest iPad update on October 22nd. Sources say to look for a bigger screen and thinner style. Global tablet sales fell 9.7% in the second quarter with 45.1 million tablets being shipped. Apple sold 14.6 million iPads in the second quarter. (AllThingsD)
Intel has delayed its OnCue online video service. The new service is designed to challenge conventional cable TV. The company is now looking to 2014 for launch and is looking for a partner to boost the deal. The new service is a big move from the company’s core business of making computer chips. (NY Times)
As the US becomes a bigger exporter of natural gas the 2015 completion for widening the Panama Canal will cut shipping costs to Asia by shortening voyages and cutting turnaround times. The 2015 opening of the improved Canal will double the shipping lanes capacity. (Bloomberg)