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Stock market today, Sept. 15, 2014: All three major U.S. stock markets were down Friday, while the S&P Volatility Index (VIX) soared more than 10% intraday. Economic concerns tied to the new round of sanctions against Russian oil and gas companies weighed heavily on oil stocks.
This week, investors will turn their attention to the Fed Open Market Committee, which kicks off a meeting on Tuesday. The markets remain focused on the central bank's plans to manage interest rates in the near term. Consensus expectations are set that the Federal Reserve will hike interest rates by June 2015, its first possible increase since December 2008.
Here's what else you should know to make your Monday profitable:
- Merger Mania: The world's second-largest beer brewer SABMiller Plc. (OTCMKTS ADR: SBMRY) has approached its Dutch rival Heineken NV (OTCMKTS ADR: HINKY) about a potential acquisition of the iconic brand. However, Heineken's controlling family, which owns a little more than 50% of the company, has promised to keep the brewery independent and turned down SABMiller's initial offer. According to multiple reports, SABMiller is attempting to acquire a number of competitors in an effort to ward off a takeover bid from its chief rival Anheuser-Busch InBev (NYSE ADR: BUD).
- Spurning Nasdaq: Despite a guarantee that the company could have joined the Nasdaq 100 Index in its first hours of trading, Alibaba Holding Group Ltd. (NYSE: BABA) acknowledged over the weekend that it chose the New York Stock Exchange for its U.S. public listing due to concerns over Nasdaq's struggles during the 2012 IPO of Facebook Inc. (Nasdaq: FB). The Alibaba IPO, slated for Sept. 19, could raise more than $21 billion, which would make it the largest IPO in market history.
- A Strong Debut: Despite a topsy-turvy week for Apple Inc. (Nasdaq: AAPL) stock, the company has already seen strong sales for its new release of the iPhone 6 Plus. According to the Boy Genius Report, Apple sold out versions of the iPhone 6 Plus (retailing at $299) within hours of the online pre-order debut. In addition, the smaller iPhone 6, which retails at $199, was also in short supply. To read why Apple stock is poised to rise thanks to the strong debut of the iPhone 6 and its other new devices and surveys, be sure to read our recent report on the company's next move.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.