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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
FeaturesFive Things

Facebook falls and Fed’s bond-buying ends — 5 things to know today

By
Ben Geier
Ben Geier
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By
Ben Geier
Ben Geier
Down Arrow Button Icon
October 29, 2014, 8:19 AM ET
Photo courtesy: Karen Bleier — AFP/Getty Images

Good morning, friends and Fortune readers.

Stocks look set to open lower, following Tuesday’s strong gains, and ahead of the Fed’s expected decision this afternoon to end its massive bond-buying program. Investors will also be looking for any clues on U.S. monetary policy. Here’s what else you need to know about today.

1. Have some chocolate and cheese

Two iconic American food companies report earnings today: Hershey (HSY) reported earnings slightly under expectations this morning, but expects to gain market share during the upcoming candypocalypse that his Halloween. Kraft Foods (KRFT) reports its earnings this afternoon.

2. There’s no meeting like a FOMC meeting

The Federal Reserve’s policy-setting committee, the Federal Open Market Committee, concludes a two-day monetary policy meeting later today, and the Fed is expected to announce the conclusion of its $4 trillion bond-buying program, also called quantitative easing. Investors will also be looking for any information about when the central bank could start raising interest rates.

3. Rocket ride

A rocket produced by Orbital Sciences(ORB), which was bound for the International Space Station, exploded on the tarmac last night. Luckily no one was hurt — except for Orbital Sciences’ stock, which tumbled. This could obviously mean good things for Elon Musk’s SpaceX, the other company that hauls materials to the ISS for NASA.

4. Investors don’t “like” Facebook’s earnings

Following Facebook’s (FB) earnings report last night, shares of the social networking company were down 6% overnight. the New York Times notes that some of this has to do with long-term plans announced by CEO and founder Mark Zuckerberg, namely more spending.

5. Earnings from Germany

Deutsche Bank reported its earnings this morning, and litigation dominated the conversation. The bank posted a $117 million loss, largely based on money set aside to deal with legal problems stemming from alleged bad actions of employees, according to Dealbook.

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By Ben Geier
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