Good evening,
The highly-anticipated Fed interest rate decision is just a couple days away now. The Dow, S&P 500, and Nasdaq all fell, without too much movement during the day. The Dow lost 0.4%, the S&P 500 dropped 0.5%, and the Nasdaq fell 0.34%. The Stoxx Europe 600 lost 0.6% Monday after starting the morning with a slight boost. Oil dropped again, falling to just over $44/barrel.
Here’s what else you need to know:
NYC opens first new subway station in more than 25 years. The 34th Street-Hudson Yards station took eight years to build, with a price tag of $2.42 billion. There’s a lot of firsts for the new station. It’s climate controlled, column-less, holds an inclined elevator, and has the longest escalator in the Subway system. Gothamist
Shooter loose in Mississippi. Ethan Schmidt, a professor at Delta State University, was shot and killed in Cleveland, Miss. Schmidt’s death may be linked to another area shooting. A “person of interest” is being shot in relation to the deaths. CNN
Russia pointing tanks at Syrian airfield. U.S. officials say it’s not clear what Moscow’s intentions are, but the country has been pressured globally to explain its support of Syrian President Bashar al-Assad. Reuters
Deutsche Bank to cut one quarter of its total staff. The bank will ax about 23,000 jobs, mainly with layoffs in technology activities and a spin off of its PostBank unit. Deutsche CEO John Cryan took control of the firm in July, and promised to slash costs. Reuters
Aussie PM ousted. Australian PM Tony Abbot will be succeeded by Malcolm Turnbull as the country’s conservative party shakes up its approach to many hot issues, including the economy, climate change, and same-sex marriage. Wall Street Journal
Died: NBA star Moses Malone. Malone passed away unexpectedly Sunday at age 60. Malone was an NBA Hall of Famer, and the first modern star to go pro straight after high school. In 1996 he was named one of the best 50 players of all time. CNN
Chinese shares continue to fall. Despite edging higher at the open, Chinese shares ended the session deep in the red today largely thanks to mixed data from the weekend as well as the upcoming Fed decision. The Shanghai Index fell 2.67% while Shenzhen tanked a whopping 6.65%. Japan’s Nikkei Average meanwhile dipped 1.63%. Surprisingly, Hong Kong shares proved to be more resilient, with the Hang Seng Index climbing 0.27% and the Hang Seng China Enterprises Index eking out a 0.11% gain. NexChange
Japan industrial production falls short of estimates. The land of the rising sun’s industrial output fell -0.8% last month, worse than the preceding month’s -0.6% reading and missing estimates of a -0.6% fall. Investing
China factory output and fixed-asset investment data misses estimates. China’s been punching in some disappointing data lately and here’s the latest. The nation’s industrial production grew 6.1% from the year before in August, slightly better than July’s 6% climb but well below forecasts for a 6.6% rise. Fixed-asset investment meanwhile jumped 10.9% year-on-year in January to August, lower than January to July’s 11.2% climb and slower than what analysts had expected. Retail sales came in strong though, surging 10.8% from the year before and besting the 10.5% growth posted in July. Wall Street Journal
U.K.’s second biggest party picks left-wing leader. Jeremy Corbyn has become the leader of the UK’s Labour Party. Initially a rank outsider, the socialist bagged 60% of the vote on a wave of grassroots support. Runner-up Andy Burnham, has been named shadow Home Secretary. Independent
Egypt forces kill Mexico tourists. Egyptian security forces killed at least 12 people after mistakenly opening fire on a caravan of tourist vehicles in the country’s Western Desert late Sunday night.10 others were injured. New York Times
You won’t believe this:
Ahnold is replacing the Donald. Arnold Schwarzenegger will be the new host of “The Celebrity Apprentice” on NBC, taking over for Donald Trump. Trump stepped down from his role with the show when he decided to run for president. Buzzfeed
Breastfeeding Army soldiers post viral pic. A group of active duty soldiers at Fort Bliss posed for a photo in uniform, while breastfeeding their babies. The photographer, an Air Force veteran and mother, wants to draw attention to the working moms balancing their babies with a difficult job. Buzzfeed
Photo: Metropolitan Transportation Authority of the State of New York