With the U.S. Federal Reserve finally announcing it will start tapering its stimulus, removing a big uncertainty in the market, can Wall Street expect a stronger finish to the year? "There isn't much room or news to move higher from here until next year."
At least 2 million shoppers who used bank debit cards at Target Corp (TGT) stores during its recent data breach are facing lower limits on how much cash they can take out of teller machines and spend at stores. JPMorgan Chase & Co (JPM) said on Saturday it is notifying customers who used Chase brand debit cards at Target from November 27 through December 15 that they are now limited to $100 a day of cash withdrawals and $300 a day of purchases with their cards. The new limit effects roughly 2 million accounts, or 10 percent of Chase debit cards, according to a spokeswoman for Chase, the consumer banking business of JPMorgan, the biggest U.S. bank by assets. "Banks are putting various precautions in place," Target spokeswoman Molly Snyder said by email, declining to be specific about what the banks are doing.
Unionized workers at Boeing Co (BA) who resoundingly rejected a proposed contract last month will get a chance to vote on the company's latest offer, the union's national office said on Saturday, despite opposition to the revised deal from local labor leaders. "I can confirm that a vote will take place," Frank Larkin, a spokesman for International Association of Machinists, told Reuters. In November, machinists at the Everett, Washington, plant where Boeing's 777 jet is built voted 2-to-1 against the company's initial offer. The eight-year contract would have kept production of Boeing's next jet - the 777X - in Washington state.