Closing BellHere's what happened on Wall Street Monday, October 16.
All three major U.S. averages closed in the green with the S&P 500 higher 0.18%, the Dow Jones Industrial Average up 0.37% and the Nasdaq climbing 0.28%.
Netflix (NFLX) surpassed analyst expectations for its third-quarter after the bell and shares were rising over 2.3% in extended-hours trading.
Trump and Yellen to Meet this WeekThe stage has finally been set for President Donald Trump's meeting with current Chair of the Federal Reserve Janet Yellen.
Trump will formally interview Yellen this week regarding her position as the Chair, according to Politico.
The interview comes as Trump seeks to either replace Yellen, whose term expires in February, or select her replacement. Many Republicans on Capitol Hill have urged Trump to move on from Yellen, the report added.
Facebook Seeking Employees with National Security ClearancesFacebook ( FB) is looking to step up its fight against foreign-backed entities seeking to manipulate its platform.
The social media giant is currently looking for potential employees with national security clearances to prevent foreign powers from manipulating future elections via its network, Bloomberg is reporting.
Facebook has been stepping up its efforts to crack down on the spread of inaccurate news and sniffing out potential culprits. The company recently handed over 3,000 Russian ads to Congressional investigators, and it created a new tool to help provide its users with context for a particular news story.
Over 1 Million Mercedes-Benz Cars Being Recalled over Faulty AirbagsGerman multinational automotive corporation Daimler AG ( DDAIY) , the parent organization of Mercedes-Benz, has issued a recall of over 1 million Mercedes-Benz vehicles because of faulty airbags.
The equipped airbags may unintentionally deploy, thus leading to a potentially harmful situation. Monday's recall covers 495,000 vehicles in the U.S., 400,000 in Britain, 76,000 in Canada and a few hundred thousand in Germany, Reuters reported.
There have been "a handful of instances where drivers suffered minor abrasions or bruises" due to the airbag problem, a U.S. Mercedes-Benz spokeswoman confirmed. Deaths have not been reported.
The recalls cover some 2012 to 2018 model year A, B, C, and E-Class models and CLA, GLA and GLC vehicles.
China Eyes a 5% Stake in Saudi AramcoThe Chinese state-owned oil companies PetroChina ( PTR) and Sinopec ( SHI) have their eyes on Saudi Aramco's IPO, the world's largest oil producer on the stock market.
Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco expressing their wishes to buy a 5% stake in the Saudi Arabian national petroleum and natural gas company directly, Reuters reports.
"The Chinese want to secure oil supplies," one of the industry sources told Reuters. "They are willing to take the whole 5 percent, or even more, alone."
Saudi Arabia's Crown Prince Mohammed bin Salman stated last year the firm was considering listing roughly 5% of itself in 2018 for around $100 billion if the company's value sustained its $2 trillion level.
Nordstrom Family Group Suspends Exploration to take Company PrivateShares of Nordstrom ( JWN) were falling around 5% in early morning trading on Monday after members of the retailer's family suspended the active exploration of potentially taking the company private.
Company Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, President of Stores James F. Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E. Gittinger notified the Special Committee of the Board of Directors of Nordstrom of their decision.
But, the members stated that it intends to advance its efforts to examine the possibility of making a going private proposal after the holiday season.
Shares of Nordstrom are lower over 15% year-to-date.
Ruby Tuesday To Be Acquired by NRD CapitalShares of Ruby Tuesday ( RT) were surging nearly 20% during Monday morning trading after the multinational food-service retailer announced an agreement to be acquired by NRD Capital, an Atlanta-based private equity firm that specializes in franchised and multi-location business investments.
The deal will see NRD acquire Ruby Tuesday for $2.40 per share in cash and it will assume or retire all debt obligations for a total value of $335 million.
"The Board of Directors and our advisors have thoroughly evaluated all options available to the Company and are confident that this agreement will provide the most promising opportunity to realize the highest value for our stockholders while providing the best path forward for the Ruby Tuesday brand, its employees, franchisees, and loyal customers," said Stephen Sadove, Non-executive Chairman of Ruby Tuesday. "NRD Capital has a distinguished track record of achieving and maintaining profitable growth for restaurant concepts and will be an excellent partner to lead Ruby Tuesday going forward."
Apple iPhone X Shipments BeginIt is being reported that Foxconn ( FXCOF) , a key Apple ( AAPL) supplier and manufacturer, has begun shipping the highly-anticipated iPhone X.
This initial shipment is said to consist of 46,500 units and is being shipped to the Netherlands and United Arab Emirates (UAE) from Zhengzhou and Shanghai.
Initially, the tech titan had pegged October 27 as the official start date to pre-order the iPhone X, with deliveries commencing November 3.
But, demand is likely to outweigh supply upon the first shipments far. Foxconn has boosted its production of iPhone X to 400,000 units a week from the previous 100,000 devices. However, the enhanced production still cannot meet market demand.
PremarketU.S. stock futures were in the green on Monday as earnings season powers forward and oil futures spike over 1.4%.
Markets in Asia continued their hot streak, with the Nikkei climbing 0.5% today while the Hang Seng and Shanghai Composite closed the day up 0.8% and 0.4%, respectively.
Across Europe, the STOXX Europe 600 was up 0.2% to 392.30, while the FTSE in the U.K. was in the green, 0.05% higher. The CAC 40 in France and the DAX in Germany showed modest gains.