Here's what happened in the market Monday.
All three major indices closed trading int he red Monday, with the S&P 500 falling 0.18%, the Nasdaq declining 0.16% and the Dow Jones Industrial Average dropping 0.06%.
Microsoft Enters 15-year Pact With GE
Microsoft also acquired an Irish energy supply license from GE that will allow the company to easily invest in renewable energy in Ireland over time.
Chill on Concerns of Netflix Losing Content to Rivals
MKM Partners published a note counteracting a Bloomberg article saying that Netflix (NFLX) could lose out on program licensing agreements to rivals like Hulu, saying that content creators will still have to license to the company due to simple economics.
Netflix spends $16 billion on content, and even though it has lost out in recent months on some popular titles from rivals at Fox (FOXA) and Disney (DIS) , content creators will still do business with the company.
"Further, the production of content is highly fragmented (ample supply) and competitive bids from TV networks in general (the large majority of spending) are increasingly compromised by structural challenges. We think platforms that are scaling up (i.e., NFLX) are positioned to provide increasing value, while those in decline will grow less relevant," MKM's Rob Sanderson wrote.
Sunday Night Football Suffers Lowest Ratings of the Season
It was a mixed bag for NFL ratings in Week 5. The marquee matchup of the week, the Green Bay Packers vs. the Dallas Cowboys, was a big winner for Fox (FOXA) , scoring a 15.0 overnight rating, meaning 15% of television sets, or about 27 million viewers, were tuned into the game.
However, in primetime, Sunday Night Football had one of its worst showings of the young season on NBC (CMCSA) , with the Kansas City Chiefs vs. Houston Texans game scoring a 10.8 overnight rating, reaching about 18 million viewers.
Paddock Didn't Allow Hotel Staff Into the Room for Days Before Shooting
Casino magnate Steve Wynn told Fox News Sunday that Las Vegas shooter Stephen Paddock's behavior prior to the massacre would have set off alarms at his casino resorts.
"The scenario that we're aware of would have indicated that he didn't let anyone in the room for two or three days," the Wynn Resorts (WYNN) chairman said. "That would have triggered a whole bunch of alarms here, and we would have -- on behalf of the guests, of course -- investigated for safety."
An inquiry begins after a "do not disturb" sign is up for 12 hours or more.
GE Adds Trian Activist to Board
General Electric (GE) announced that it has elected Trian Fund Management founding partner and Chief Investment Officer Ed Garden to its Board of Directors.
"We have maintained an active and constructive dialogue with Trian since they became a shareowner in 2015, as we do with all large investors. GE continues to evolve as a company and address the challenges and opportunities that lie ahead," GE said in a statement.
Google Discovers Russian Ads on YouTube and Gmail
The Washington Post reported that Google (GOOGL) has discovered that Russian operatives have spent tens of thousands of dollars on ads on the company's YouTube and Gmail platforms.
Chance of December Rate Hike Sits at 80%
Goldman Sachs analysts placed the probability that the U.S. Federal Reserve will raise interest rates in December at 80%. That is an increase from the bank's previous expectations of a 75% chance. The Federal Reserve meets to discuss the interest rate on December 12 and 13.
U.S. futures were in the green across the board Monday morning before the opening bell. S&P 500, Nasdaq and Dow Jones Industrial Average futures contracts were all up 0.2% ahead of the market's open on Columbus Day.
Asian markets continued to show strength after a positive week of trading last week. The Nikkei and Shanghai Composite closed trading up 0.30% and 0.76%, respectively, while the Hang Seng in Hong Kong fell 0.46%.
University of Chicago Economics Professor Richard Thaler was awarded the Nobel Prize in Economics Monday for his contributions in the field of behavioral economics. Thaler's economic theory explains, "how people simplify financial decision-making by creating separate accounts in their minds, focusing on the narrow impact of each individual decision rather than its overall effect," the Royal Swedish Academy of Sciences said.