Alcoa (AA) kicked off earnings season with a thud. The metals maker was hurt by weak aluminum prices and also warned it could cut jobs, as many as 2000. Facebook's (FB) developer conference gets underway in San Francisco today. Facebook, itself hasn't released details about what is expected but tech enthusiasts expect to see chatbots on Messenger, live video advancements and new ways to use virtual reality headsets from Oculus Rift. United (UAL) looks likely to revamp its board as hedge funds have requested. Par Capital Management and Altimeter Capital Management asked for the change. The funds, together own 7% of the airline. In March, the funds proposed a slate of directors led by former Continental Airlines Chief Executive Gorden Bethune to shake up the board of United. San Francisco Federal Reserve President John Williams speaks today on monetary policy. Richmond Fed's Jeffrey Lacker discusses 'economic leadership in an uncertain world.'
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.