"Today, The Music Stops..."

"Today the Fed should formally announce that after nearly a decade, it’s going to start vacuuming up a lot of that money it printed in 2008...Bottom line: they’re going to start cutting the lights and turning off the music...And given the enormous impact that this policy had on asset prices, it would be foolish to think its reversal will be consequence-free."

Nasdaq Plunges As AAPL Suffers Triple Whammy

Weak reviews for iPhone 8, dismal pre-orders, and connectivity issues for Apple Watch have slammed AAPL shares to their lowest since August 1st earnings. This has pushed the Nasdaq dramatically lower...

Full Preview Of Today's "Historic" FOMC Meeting

In what may be one of Janet Yellen's last, and certainly her most difficult in recent history meetings, tomorrow the FOMC will not hike rates but will announce the start of its balance sheet normalization programme, while revising its economic projections and hinting whether the December meeting is "live" for one more 2017 rate hike. Here's what else to look forward to...

WTI/RBOB Drop After Smaller-Than-Expected Gasoline Draw, Big Crude Production Rebound

API data (smaller than expected build) and a weaker dollar have supported WTI overnight but as the DOE data hits, we are reminded that the impact from hurricane season lingers. WTI/RBOB prices kneejerked lower after DOE reported a bigger than expected crude build and a gasoline draw that was considerably smaller than API's reports. Crude production continues to rebound back near cycle highs.

Existing Home Sales Slump To 1-Year Lows, NAR Says "There's Simply Not Enough Homes For Sale"

After July's housing sales data horrors, yesterday's permits rebound prompted some hope (despite last week's 9.7% collapse in mortgage applications) but August's existing home sales just crushed that dream, dropping to one-year lows. Following a 1.3% MoM decline in July, August saw existing home sales tumble 1.7% MoM (against expectations of a 0.2% rebound) and up just 0.2% YoY.

Dennis Gartman: "This We Find Anomalous"

"As prices have risen to new highs the volume has waned and waned and waned again. This we find anomalous, for volume should always follow the trend and in this instance the trend is up while the volume is most assuredly down."