The market generally has been moving based on Fed statements over the past few days. It is now in its quiet period, but this doesn’t stop speculation about what it will do next Wednesday. While there has been increased volatility of late, I think the market will calm down on Monday and Tuesday as no one will want to make any big bets ahead of the Fed statement which should effect the market. The key will be what guidance is for the December meeting as there is no way it will hike next week.

The data has been consistently weak and disappointing. It hasn’t been bad enough to spur fears of a recession, even as I believe we are already in one. August was clearly a bad month for data. If September is worse than August, then fears of a recession will start to percolate. This will spark a selloff and a Trump victory.

Deutsche Bank AG (USA) (NYSE:DB) is being asked to pay $14 billion to resolve investigations into crisis-era mortgage securities. The bank expects a resolution costs of $2 billion to $3 billion. The bank has $6.2 billion in litigation reserves. Deutsche Banks responded to the investigation by saying “Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited.” The stock is down 9.5% today.

Intel Corporation (NASDAQ:INTC) raised its Q3 revenue guidance to $15.6 billion plus or minus $300 million from $14.9 billion plus or minus $500 million. Q3 gross margins expectations went from 62% to 63%. These positive results were caused by PC supply chain inventory replenishment and signs of PC demand improvement.

Expedia Inc (NASDAQ:EXPE) picked JP Morgan, Goldman Sachs, and Morgan Stanley to be coordinators for its IPO of Trivago which will take place within the next few quarters. Citi, Bank of America, and Deutsche Bank are bookrunners. Trivago has generated revenue of more than $660 million on a trailing 12 month basis. Revenues have grown sixfold since Expedia acquired it in 2012.

Toyota Motor Corp (ADR) (NYSE:TM) Mirai drove 1,438 miles over a 24 hour period which is a record for an electric car. The Toyota Mirai runs on hydrogen fuel cells. The CEO of First Element Fuel, which owns a hydrogen station network, said the following “The point has been made that an electric car can do everything that a gasoline car can do, but with zero emissions.”