Here is what you need to know. Sign up here to get “10 Things” delivered directly to your inbox.
The Fed will start to unwind its financial-crisis measures in October. The Federal Reserve will begin unwinding its $4.5 trillion balance sheet in October by starting to not reinvest some of its bonds as they mature – that way, they’ll roll off its balance sheet.
Rate-hike odds are surging. The market sees a 60.5% chance the Fed hikes interest rates this year, according to Bloomberg data. That’s up from about 20% just two weeks ago.
China gets downgraded at S&P. The credit-rating agency lowered China’s rating one notch to A+, citing its rising debt load, South China Morning Post reports.
The Bank of Japan keeps policy on hold. With an 8-to-1 vote, the central bank kept interest rates, asset purchases, and its assessment on the Japanese economy unchanged from July.
Warren Buffett says the Dow could hit 1 million in 100 years. Speaking at an event celebrating Forbes’ 100th anniversary, the legendary investor said it was not unreasonable considering the Dow was trading at 81 a hundred years back, Reuters reports.
SPONSOR CONTENT BY NUCLEUS MARKETINGThink advertising needs to get real? We’ve got news for you. Learn about the new platform with 147MM UVs in the brand-safe news environments you can trust at nucleusmarketing.com.
Google signs a cooperation agreement with HTC. “With this agreement, a team of HTC talent will join Google as part of the hardware organization,” the Google hardware exec Rick Osterloh said in a statement.
Tesla and AMD are reportedly teaming up. The two sides are joining forces to make chips for self-driving cars, CNBC said, citing a source familiar with the matter.
Equifax mistakenly sent consumers worried about its data breach to a spoof site. Equifax mistakenly sent consumers to a fake phishing site that was designed to show how easy it was to spoof the webpage the credit-reporting agency created to inform consumers about its recent massive security breach, The Verge reports.
Stock markets around the world trade mixed. China’s Shanghai Composite (+0.27%) led the gains in Asia, and France’s CAC (-0.22%) trails in Europe. The S&P 500 is set to open little changed near 2,506.
US economic data flows. Initial claims and the Philly Fed will be released at 8:30 a.m. ET, and FHFA home prices will cross the wires at 9 a.m. ET. The US 10-year yield is unchanged at 2.26%.