Business News

All Eyes on Federal Reserve

Wall Street is looking for another winning week, after the S&P 500 gained 2% for its best week since July 17. On Thursday we hear from the Federal Reserve about interest rates, a meeting that will preoccupy traders all week. There are a few U.S. economic data points to watch this week, they include August retail sales tomorrow and CPI, consumer inflation data, Wednesday.

The age of the self-driving car is on our door step.  Google is a leader in that space and has named John Krafcik, TrueCar president and former CEO of Hyundai Motors America, as chief executive of its self-driving car project, which started in 2009. (CNBC)

The United Auto Workers union has picked Fiat Chrysler as its target in ongoing contract negotiations. The current agreement expires just before midnight, but will likely be extended. (AP)

Demand for Apple's iPhone 6s and 6s Plus was stronger in China than most regions, including the U.S., according to early reports. The tech giant may release numbers from first-day pre-orders today. (Re/code)

The S&P 500 is down 2 and the NASDAQ is down 4. The MSCI International Index is up 0.25%.

Oil is down 25 cents at $44.44 a barrel. Oil prices have fallen almost 60% since June 2014 on the back of the largest global surplus in modern times. The U.S. oil rig count fell by 10 to 652 last week, the second straight weekly drop.

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