- Reuters/David Mercado
Here is what you need to know.
The Bank of Japan meets Tuesday evening. There has been growing speculation the central bank will tweak its bond-buying program to include the purchase of more short-term bonds in an effort to steepen the yield curve, The Japan Times reports. The Japanese yen is little changed near 101.90 per dollar.
Jeff Gundlach doesn’t think the Fed will raise rates at Wednesday’s meeting. The CEO of DoubleLine Capital believes the US Federal Reserve will use a “hawkish no-hike” language.
Wells Fargo’s CEO is testifying before the Senate Banking Committee. Wells Fargo CEO John Stumpf will appear before the Senate Banking Committee on Tuesday and tell members he takes “full responsibility” for his bank’s selling customers unauthorized bank accounts and credit cards, The New York Times reports.
Bayer might drop the Monsanto name.The German drug and chemical maker is considering moving Monsanto products under the Bayer CropScience label to remove the stigma of the Monsanto name, Bloomberg reports.
Twitter is finally letting you use more than 140 characters. The social-media company will no longer count links to media like photos, GIFs, polls, and videos as part of its 140-character limit.
Carl Icahn dumped a bunch of his Chesapeake Energy shares. A Securities and Exchange Commission filing showed Carl Icahn owned a 4.55% stake in the energy explorer as of Monday, down from 9.40% on August 4, Reuters reports.
2 IPOs are expected to price on Tuesday. According to Bloomberg, The Trade Desk (TTD) and Novan (NOVN) are expected to price at $16 to $18 and $11 to $13, respectively.
Stock markets around the world are trade mixed. Japan’s Nikkei (-0.2%) slipped amid a quiet overnight trade, and Germany’s DAX (+0.6%) paces the gains in Europe. S&P 500 futures are higher by 6.75 points at 2,139.75.
Earnings reporting picks up a bit. Lennar will release its quarterly results ahead of the opening bell, and FedEx and KB Home will report after markets close.
US economic data is light. Housing starts will be released at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 1.69%.