It hasn’t been a great start for global equities in this last week of September, with European indices dropping between 1.0% to 1.5% during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight. Wall Street has further extended its falls at the open from Friday when the S&P 500 closed down more than half a percent.
Throughout the analyst call with CBOE Holdings and Bats regarding today’s announced acquisition of Bats by CBOE there were references to CBOE’s reluctance to enter the mergers and acquisition space, but it turns out they were just looking for the right partner.
This is the week we’ve all been waiting for. This is where the Fed meets the seasonal change point. For those of you that don’t know or didn’t quite realize it, all financial markets tend to change direction at or very close to the change of the season. Throw in a Fed meeting and it becomes more interesting. Throw in a Fed meeting in the traditional graveyard for stocks (September) and it becomes even juicer. Add a presidential election and it could be a September to remember.