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New ICE memo gives deportation officers more leeway to conduct warrantless arrests CBS NewsICE Expands Power of Agents to Arrest People Without Warrants The New York TimesBoston lawsuit aims to stop 'warrantless home invasions' by ICE WBURLawsuit challenges ICE ability to enter homes without warrants from US judges Reuters
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Trump Plotting to Supersize His Already Monstrous Arch The Daily BeastTrump wants to build a 250-foot-tall arch, dwarfing the Lincoln Memorial The Washington PostTrump wants to build 250ft Washington DC arch that dwarfs Lincoln Memorial - report The GuardianMonumental ambitions: the history behind Trump's triumphal arch The ConversationTrump now wants his triumphal arch to be 250ft tall, dwarfing other Washington, DC monuments
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Lucas: Georgia Tech Rapid Reactions University of North Carolina AthleticsUNC freshman Caleb Wilson puts on a high-flying show for the home folks in Atlanta Yahoo SportsJackets Entertain No. 16 North Carolina Saturday - Men's Basketball Georgia Tech AthleticsThree keys for UNC to beat Georgia Tech Tar Heels Wire
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Live updates: Hundreds gather for another anti-ICE protest in DTLA after 8 arrests on Friday ABC7 Los AngelesMultiple anti-ICE protests being held in Southern California on Saturday Los Angeles Daily NewsProtesters clash with federal agents in downtown Los Angeles CBS NewsCitywide tactical alert issues after anti-ICE protesters clash with federal officers in downtown LA NBC Los Angeles
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A class-action lawsuit against mortgage-lending giant Rocket Companies accuses the company of illegally steering homebuyers toward using their services and away from cheaper alternatives.
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Latest On Bucks, Giannis Antetokounmpo Hoops RumorsGiannis Antetokounmpo, Bucks are focal point as trade deadline nears NBAHow Blazers can shake up Giannis trade sweepstakes, much to the delight of Bucks CBS SportsSources: Heat, Wolves, Knicks, Warriors among Giannis suitors ESPNThe best realistic package that Heat and other Antetokounmpo suitors can offer Miami Herald
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AmEx's strategy shift is the latest example of the K-shaped economy, in which wealthy consumers continue to spend freely while others rein in their expenses
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The nomination of Kevin Warsh "avoids a lot of the worst-case scenarios, but it's still unclear what impact he will have on rates," one strategist said.
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It was a choppy start to the short trading week, with stocks spending time in both positive and negative territory Tuesday. Bears gained the upper hand in the afternoon, though, with the three major indexes ending another day in the red.
SEE MORE The ESG Investing Backlash
Although this week's economic calendar is fairly thin, data from the Institute for Supply Management (ISM) this morning showed that activity in the services sector ticked up to 56.9% in August - the highest level since April - from July's 56.7%.
"This is the most recent piece of data to suggest the economy remains resilient and as such the market takeaway is that this gives the Fed more room to continue raising rates," says Michael Reinking, senior market strategist for the New York Stock Exchange. "Futures markets are now pricing in a 75% chance of a 75 basis-point hike later this month from a coin flip late last week." A basis point is one-one hundredth of a percentage point.
In reaction to today's ISM data, the 10-year Treasury yield rose to its loftiest level since mid-June. This, in turn, weighed on shares in the communication services (-1.3%) and technology (-0.6%) sectors, with names such as streaming giant Netflix (NFLX, -3.4%) and chipmaker Intel (INTC, -2.8%) seeing notable declines.
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As for the major indexes, the tech-heavy Nasdaq Composite fell 0.7% to 11,544, its seventh straight loss.
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