Events in the US Today (EDT): 8:30am - Goods Trade Balance (Aug) [2/3 Volatility] Retail Inventories Ex Auto (Aug) [2/3 Volatility] 8:55am - Redbook (MoM&YoY) [1/3 Volatility] 9:00am - S&P/CS HPI Composite 20 n.s.a. (YoY-Jul) [2/3 Volatility] 9:15am - FOMC Member Williams Speaks [2/3 Volatility] 9:30am - FOMC Member Harker Speaks [2/3 Volatility] 10:00am - CB Consumer Confidence (Sep) [3/3 Volatility] 11:40am - FOMC Member Clarida Speaks [2/3 Volatility] 12:00pm - The House convenes for session 1:00pm - FOMC Member Quarles Speaks [2/3 Volatility] FOMC Member Williams Speaks [2/3 Volatility] 2:00pm - VPOTUS Leads Coronavirus Meeting White House Situation Room 3:00pm - FOMC Member Quarles Speaks [2/3 Volatility] The Senate resumes consideration of the continuing resolution to extend government funding through Dec. 11. Funding for the government expires on Wednesday night. 4:30pm - API Weekly Crude Oil Stock [2/3 Volatility] 9:00pm - 2020 Election: 1st Presidential Debate American Airlines and United Airlines are pressing for additional federal aid as a Sept. 30 deadline looms as part of the CARES Act to avert up to an estimated 100,000 job losses beginning this week. Two women have come forward with formal sexual assault allegations against Nikola founder Trevor Milton, accusing the 38-year-old billionaire in complaints filed with Utah authorities of sexual abuse when both women were 15 years old. Abbott Laboratories, a producer of quick tests for Covid-19, rose in pre-market trading as the U.S. announced plans to increase testing capacity. Events in the World Today (EDT): 3:00am - Spain CPI & HICP (YoY-Sep) [2/3 Volatility] 5:45am - Italy 10-Year BTP Auction [2/3 Volatility] 6:00am - Germany Buba Mauderer Speaks [2/3 Volatility] 8:00am - Germany CPI (MoM-Sep) [2/3 Volatility] 8:30am - Canada RMPI (MoM-Aug) [2/3 Volatility] 12:00pm - Germany Buba Mauderer Speaks [2/3 Volatility] 3:00pm - Brazil CAGED Net Payroll Jobs (Aug) [2/3 Volatility] 5:45pm - New Zealand Building Consents (MoM-Aug) [2/3 Volatility] 7:50pm - Japan Industrial Production (MoM-Aug) [2/3 Volatility] Japan Retail Sales (YoY-Aug) [2/3 Volatility] 8:00pm - New Zealand ANZ Business Confidence (Sep) [2/3 Volatility] 9:00pm - China Manufacturing PMI (Sep) [3/3 Volatility] China Composite PMI (Sep) [2/3 Volatility] China Non-Manufacturing PMI (Sep) [2/3 Volatility] 9:30pm - Australia Building Approvals (MoM-Aug) [2/3 Volatility] Australia Private Sector Credit (MoM-Aug) [2/3 Volatility] 9:45pm - China Caixin Manufacturing PMI (Sep) [3/3 Volatility] Dubai announced on Monday new restrictions on nightlife in an effort to slow the spread of COVID-19. In the first round of restrictions since Dubai bars and restaurants reopened in July, tourism authorities rolled out plans to stop serving alcohol and other activities at 1 a.m., with delivery and room service offered after 3 a.m. Deaths from the virus rose 40% in England and Wales to their highest in five weeks, while German Chancellor Angela Merkel warned she might impose tighter restrictions on public gatherings to pre-empt a further surge in infections. On the brighter side, India – which has been the world’s virus hotspot in recent weeks – posted its lowest level of new infections in nearly a month. Earnings Before Open: McCormick, iHS Markit, Angiodynamics Earnings After Close: Micron, Progress, Synnex. Comtech.Let's start with a little history, shall we? via user dcv On this day in 2008, after Congress failed to pass a $700 billion bank bailout plan, the Dow Jones Industrial Average falls 777.68 points—at the time, the largest single-day point loss in its history. Down 7 percent, a greater loss than the 684.81 skid on September 17, 2001 (the first trading day post-9/11), the S&P 500 also suffered its biggest one-day loss since the 1987 crash, dropping 8.8 percent, and the Nasdaq fell 9.1 percent, its biggest single-day point loss in eight years. The huge decline followed the bankruptcies of Wall Street brokerage firm Lehman Brothers, Savings and Loan bank Washington Mutual, as well as the Fed’s announcement that it would provide an $85 billion bailout for insurance provider American International Group (better known as AIG) to keep it from going under. Also playing into things was a housing slowdown that triggered homeowners to suffer subprime mortgage defaults, widespread job losses and the Fed’s intervention to bail out investment bank Bear Stearns, as well as government-sponsored Fannie Mae and Freddie Mac. Congress’s inability to pass the Bush administration’s bill led to fears that the nearly frozen credit markets wouldn’t be able to rebound quickly, causing sellers to shed their stocks. The Dow drop equaled a whopping $1.2 trillion loss in market value, contributing to the 18-month-long Great Recession. Congress eventually did pass a bailout bill, with Bush signing the Emergency Economic Stabilization Act of 2008. The Dow drop remained the largest single-day point loss until 2018. On September 29, 1913, Rudolf Diesel, inventor of the engine that bears his name, disappears from the steamship Dresden while traveling from Antwerp, Belgium to Harwich, England. On October 10, a Belgian sailor aboard a North Sea steamer spotted a body floating in the water; upon further investigation, it turned out that the body was Diesel’s. There was, and remains, a great deal of mystery surrounding his death: It was officially judged a suicide, but many people believed (and still believe) that Diesel was murdered. At the time of Diesel’s death, he was on his way to England to attend the groundbreaking of a new diesel-engine plant—and to meet with the British navy about installing his engine on their submarines. Conspiracy theories began to fly almost immediately: “Inventor Thrown Into the Sea to Stop Sale of Patents to British Government,” read one headline; another worried that Diesel was “Murdered by Agents from Big Oil Trusts.” It is likely that Diesel did throw himself overboard—as it turns out, he was nearly broke—but the mystery will probably never be solved. On this day in 1988, Stacy Allison of Portland, Oregon, becomes the first American woman to reach the summit of Mount Everest, which at 29,035 feet above sea level is the highest point on earth. Allison, a member of the Northwest American Everest Expedition, climbed the Himalayan peak using the southeast ridge route. Mount Everest sits on the crest of the Great Himalayas in Asia, lying on the border between Nepal and Tibet. Called Chomo-Lungma, or “Mother Goddess of the Land,” by the Tibetans, the English named the mountain after Sir George Everest, a 19th-century British surveyor of South Asia. The summit of Everest reaches two-thirds of the way through the air of the earth’s atmosphere–at about the cruising altitude of jet airliners–and oxygen levels there are very low, temperatures are extremely cold, and weather is unpredictable and dangerous. In May 1953, climber and explorer Edmund Hillary of New Zealand and Tenzing Norgay of Nepal made the first successful climb of the peak. Ten years later, James Whittaker of Redmond, Washington, became the first American to top the peak, reaching Everest’s summit with his Sherpa climbing partner Nawang Gombu. In 1975, Japanese mountaineer Junko Tabei became the first woman to conquer the mountain. Three years later, Reinhold Messner of Italy and Peter Habeler of Austria achieved what had been previously thought impossible: climbing to the Everest summit without oxygen. In 1988, American Stacy Allison successfully scaled Everest. About two dozen climbers died in attempts to reach the top of Everest in the 20th century. Now for some stock and investing news- The Environmental Protection Agency criticizes California Gov. Newsom's plan to ban the sale of new gasoline- and diesel-powered cars after 2035, arguing the mandate is impractical and possibly illegal. California's rolling blackouts and requests for power from neighboring states "begs the question of how you expect to run an electric car fleet that will come with significant increases in electricity demand, when you can't even keep the lights on today," EPA Administrator Andrew Wheeler said today in a letter to Newsom. As the car market remained extremely challenging, Thyssenkrupp (OTCPK:TYEKF) intends to cut 800 jobs at its automotive system engineering activities. “We don’t expect output figures in the auto industry to return to pre-crisis levels for at least two to three years,” Ingo Steinkrueger, head of Thyssenkrupp System Engineering, said in a statement. Microsoft 365 was hit with a significant outage late Monday that affected users' access to multiple services, including Outlook. By late evening, services appeared to be largely restored: Microsoft https://twitter.com/MSFT365Status/status/1310751492823871488!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); at 9:21 p.m. ET that "most users should be experiencing relief." The company added that it was "continuing to see significant improvement for affected services." Earlier, the company indicated affectedservices included Outlook.com, Office.com, Power Platform, Dynamics365, and Microsoft Teams including Teams Live Event.