Here are five things you must know for Monday, Oct. 16:
1. -- U.S. stock futures pointed to slight gains for Wall Street on Monday, Oct. 16, and global stocks traded mostly higher after comments from Federal Reserve Chair Janet Yellen boosted speculation the central bank could raise interest rates for a third time in 2017.
Despite persistently low inflation, the U.S. economy is in strong shape, Yellen said on Sunday, hinting that the Fed's third interest rate hike this year could come in December as many have predicted.
"Economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen," Yellen said, noting that the impact from hurricanes is probably ephemeral. "The ongoing strength of the economy will warrant gradual increases" in interest rates, she added.
Oil prices were rising early Monday in the U.S. as tensions escalated between the Iraqi government and Kurdish forces and amid concerns over renewed U.S. sanctions against Iran. Crude oil gained 1.3% to $52.13 a barrel.
The economic calendar in the U.S. on Monday includes the Empire State Manufacturing Survey for October at 8:30 a.m. ET.
If you'd like to receive the free "5 Things You Must Know" newsletter, please register here.
2. -- Viacom Inc. (VIAB) - Get Report and Charter Communications Inc. (CHTR) - Get Report agreed on a short-term extension of their renewal deadline, a source familiar with the matter told Reuters, as the companies aim to avoid the immediate blackout of Viacom networks.
If no deal is reached, 16.6 million subscribers of Charter's Spectrum service will lose Viacom's networks, such as Comedy Central, MTV and Nickelodeon, Reuters noted.
Viacom and Charter are working to "reach a mutually beneficial deal," the source said. Viacom stands to lose $760 million, or about 16%, of its annual affiliate revenue if an agreement isn't reached, said an analyst at Gabelli & Co, Viacom's second-largest voting shareholder.
3. -- Saudi Aramco insisted over the weekend that its plan to list part of the world's biggest oil company on international markets remains on track and said it was still considering venues for an initial public offering that could value the company at $2 trillion.
The state-owned oil giant hit back at a Financial Times report last week that suggested the listing could be postponed, or cancelled altogether, in favor of a private placement sale to sovereign wealth funds and central government investors. The FT report, which cited five sources familiar with the process, said the company was struggling to find a suitable international venue to compliment a domestic flotation.
Saudi Aramco said on Twitter that the FT on its IPO was "entirely speculative. All listing venues under review for optimal decision, IPO process is on track for 2018."
The cuts were a result of a company-wide annual review, Tesla said in an emailed statement. The company didn't confirm the number of employees leaving the company.
"It's about 400 people ranging from associates to team leaders to supervisors. We don't know how high up it went," the former employee told Reuters.
Tesla cited performance as the reason for the firings.
The company, led by CEO Elon Musk, noted earlier this month delays in production of its mass-market Model 3. It's unclear whether the firings were related to the delays.
The stock fell 0.4% in premarket trading on Monday.
5. -- Lawyers for former San Francisco 49ers quarterback Colin Kaepernick said he filed a grievance against the NFL, alleging that he remains unsigned as a result of collusion by owners, the Associated Press reported.
Kaepernick started kneeling a year ago during the playing of the national anthem at football games as a protest against police brutality and racial injustice. Other players have continued the protests this season, prompting Donald Trump to say that players should be fired for not standing during the anthem.
Kaepernick opted out of his contract with the 49ers at the end of last season.
Mark Geragos, one of Kaepernick's attorneys, tweeted out a statement Sunday saying he filed the grievance "only after pursuing every possible avenue with all NFL teams and their executives."
More of What's Trending on TheStreet:
- These 10 States Could Best Weather a Catastrophic Recession
- Bitcoin Goes Plastic: Are Crypto Debit Cards for Real?
- Mom Was a Harley Rider ('70's), I Ride Today ('17), Will my Girls Ride Tomorrow?
- 10 Amazing Tips to Landing a High-Paying Job Through Social Media
This story has been updated from 6:01 a.m. ET.
Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.
When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: Special early bird price: $150 per person. (Normal price: $250)
Click here for the full conference agenda or to reserve your seat now.