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Here are five things you must know for Monday, Sept. 26:
1. -- U.S. stock futures fell ahead of the prime-time presidential debate Monday between Hillary Clinton and Donald Trump.
The candidates will square off for the first time in front of what it is expected to be a record TV audience.
"With volatility near to year-to-date low, the spotlight has now shifted from the central banks' policies to the upcoming U.S. presidential debates between Clinton and Trump," Margaret Yang Yan, market analyst at CMC Markets Singapore, told the Associated Press. "Investors will be watching closely on the shift of momentum in the race, which could once again trigger a new wave of market volatility."
The economic calendar in the U.S. Monday includes New Home Sales for August at 10 a.m. EDT.
Federal Reserve Bank of Minneapolis President Neel Kashkari is scheduled to deliver opening remarks at the Fourth Symposium on Ending Too Big To Fail in Minneapolis at 9:30 a.m., and Dallas Fed President Robert Kaplan will participate in a Q&A session at the Independent Bankers Association of Texas Annual Convention at 1:30 p.m.
2. -- Shares in Deutsche Bank (DB) - Get Report plummeted early trading Monday, after a German news magazine reported Chancellor Angela Merkel wasn't prepared to intervene in the Frankfurt lender's dispute with the U.S. Department of Justice.
The 6% decline in the bank left it with a market capitalization of just €14.73 billion ($16.6 billion), uncomfortably close to the $14 billion fine which the DOJ wants the bank to pay for alleged mortgage securitization abuses.
Perhaps more significantly, but given less prominence in Focus Magazine's prepublication release, Merkel has also ruled out any financial help for the bank in "election year 2017." That part of the story is based on what it calls "sources within the government," while the DOJ dispute report is based on "information."
3. -- The Canadian auto workers union Unifor ratified a deal with General Motors (GM) - Get Report that will see the automaker invest $554 million (Canadian) over the next four years in local plants and pay workers a $6,000 signing bonus.
Unifor said the deal was ratified Sunday after 64.7% of workers voted approve it.
Unifor represents about 4,000 GM workers in Canada.
In a statement, GM said, "This mutually beneficial new agreement will enable new product, technology and process investments that will preserve jobs and place our Canadian operations at the forefront of advanced manufacturing flexibility, innovation and environmental sustainability."
4. -- Specialty chemical company Lanxess of Germany agreed to acquire Chemtura (CHMT) in a transaction valued at about $2. 5 billion.
Lanxess will acquire Chemtura for $33.50 a share in cash, which represents a premium of 18.9% to Chemtura's closing price on Sept. 23. Chemtura shares were rising 16.9% in premarket trading on Monday to $32.94.
The deal is expected to close around mid-2017.
Lanxess said the acquisition of Chemtura will expand its businesses in industrial lubricant additives and flame retardant additives.
5. -- Golf legend Arnold Palmer died Sunday. He was 87.
Palmer won seven major championships from 1958 to 1962. From 1960 to 1963 he won five of those championships and a total of 29 PGA Tour events. The Pennsylvania native was awarded the Presidential Medal of Freedom in 2004 and the Congressional Medal of Freedom in 2009.
In a statement on Twitter, fellow golfer Jack Nicklaus called Palmer "one of the incredible people in the game of golf and in all of sports," who "transcended the game of golf."
Palmer also was a savvy business man who paved the way for a generation of younger sports stars to parlay athletic success into lucrative careers.