Good morning, friends and Fortune readers.
U.S. stock futures are pointing to a lower open Monday. Investors may be nervous after an unstable week of triple-digit moves for the Dow index. Adding to market uncertainty Monday is news that pro-democracy protesters are expanding their rallies in Hong Kong, rebelling against Beijing’s decision to curb democratic reforms in the global financial center. Here’s what else you need to know about.
1. Facebook “likes” a new ad system
Your favorite social network is taking targeted ads to the next level. Facebook is rolling out a new ad system that will let companies target users on other websites and apps. For instance, if a company knows a users likes cars, the new Atlas system would let it run car ads not just on Facebook, but on other platforms the user goes to as well.
2. Pimco is bleeding after Gross goes
Since news broke last Friday that Bill Gross would leave the investment firm he helped to found, more than $10 billion has poured out of Pimco funds. Don’t cry for the California firm, though — the investment firm still has $1.8 trillion under management. Pimco is bracing for more outflows, and more broadly other investment firms are expecting to see repercussions as investors shift funds around.
3. The pulse of the consumer
Data from the government on personal income and spending in August were released this morning. They showed U.S. consumer spending rebounded after a flat July. The more people are making, the more they spend, so the report is likely a good sign for the economy as the all-important holiday season draws closer.
4. Shrek’s creator may be bought
What is SoftBank doing in Dreamworks’ swamp? Potentially buying it. Reports are out that the Japanese company could be trying to buy or merge with the Hollywood animation studio. Softbank, a telecom company, previously attempted to buy T-Mobile. The terms of the deal would value DreamWorks at $3.4 billion, according to reports.
5. Apple could get dinged in Europe
U.S. tech giant Apple is looking at a possible fine of several billions of euros, according to the FT, over allegedly illegal tax deals with the Irish government. Preliminary results from the European Commission are due soon.
