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The October drop in stocks so far is not that scary

IN THE NEWS TODAY

U.S. stock futures on this Halloween were searching for direction after Friday's losses. the Dow, S&P 500, and Nasdaq were all on pace for their biggest monthly losses since January. (CNBC)

Baker Hughes (BHI) has agreed to combine with General Electric's (GE) oil and gas unit, with GE contributing $7.4 billion to fund a $17.50 per share special dividend for Baker Hughes shareholders. (CNBC)

CenturyLink (CTL) has agreed to buy Level 3 Communications (LVLT) in a deal valued at $34 billion, including debt. The deal comes at a time when business clients of both companies seek more bandwidth. (Reuters)


The renewed FBI interest in Hillary Clinton's emails, which pressured stocks on Friday, is an "October surprise" that could throw the electoral race off course, according to a team of Citi analysts. (CNBC)

The FBI obtained a warrant to search emails related to the investigation of Clinton's private server that were discovered on ex-congressman Anthony Weiner's laptop, the estranged husband of top Clinton aide Huma Abedin. (NBC News)

Senate Democratic leader Harry Reid said FBI Director James Comey's actions so close to the election may have violated the Hatch Act, a law bars government officials from using their authority to influence voting. (NBC News)

Federal agents are getting ready to parse through roughly 650,000 emails on Weiner's computer to try to determine how many relate to the private server Clinton used while serving as secretary of State. (WSJ)

Clinton campaign manager Robby Mook, appearing on NBC's "Meet the Press" Sunday, called on the FBI to share any unreleased information relating to the Clinton email investigation.

With at least 21 million early votes already cast, the fallout from Clinton's new email woes may be mitigated. In some swing states like Florida, Colorado and Nevada close to a quarter of the electorate has already voted. (NY Times)

Donald Trump said at a Las Vegas rally held in one of conservative casino magnate Sheldon Adelson's ballrooms: "We never thought we were going to say thank you to Anthony Weiner." (NBC News)

Billionaire Peter Thiel plans to defend his support of Trump in a speech and Q&A with reporters today at the National Press Club in Washington. Thiel's endorsement of Trump and recent $1.25 million donation has drawn the ire of his Silicon Valley peers. (NY Times)


BY THE NUMBERS

Ahead of this week's Fed meeting and Friday's government jobs report for September, investors get a couple economic reports this morning: September personal income and spending as well as the Chicago purchasing managers index for October.

It's another busy week for earnings, though the bulk of the releases come tomorrow, Wednesday, and Thursday. Diamond Offshore (DO) and Southern Company are out this morning. Anadarko Petroleum (APC) and Tenet Healthcare (THC) are out this afternoon.

Cardinal Health (CAH) came in 3 cents above estimates with adjusted quarterly profit of $1.24 per share. Revenue was also above forecasts. Cardinal Health did cut its full-year forecast.

Hilton International (HLT) got a bullish mention in this weekend's Barron's, which said the hotel operator's stock could jump 25 percent on its planned split into three separate companies.

STOCKS TO WATCH

Apple (AAPL) is reportedly being pushed by Goldman Sachs to make a rival bid for Time Warner (TWX), according to the New York Post. Time Warner has already agreed to be bought by AT&T (T) in an $85 billion deal.

Tesla (TSLA) unveiled its solar roof late Friday. Both Tesla and SolarCity (SCTY) jointly announced a combined solar roof and battery pack system that they say will accelerate a global transition to sustainable energy.

Sony (SNE) cut its full-year profit outlook, stemming from the sale of its battery business. It will announce its numbers for the first half of the fiscal year and provide further details on its full-year guidance Tuesday morning.

MGM Resorts (MGM) is poised to invest up to $10 billion into a Japanese casino, once legislation is passed to legalize casinos there. MGM said the investment could possibly come via a publicly traded real estate investment trust.


WATERCOOLER

The Cubs staved off elimination for at least one more game last night, giving them their first World Series win in Chicago since 1945. Game 6 goes back to Cleveland, with the Indians up 3-2 in the series. (USA Today)

In a surprise victory at the weekend box office, Perry's "Boo! A Madea Halloween" toppled the Tom Hanks-Ron Howard new Dan Brown book adaption, "Inferno," topping the charts for a second straight weekend. (AP)