The Dow Jones Industrial Average gained 0.25% on Wednesday, Sept. 6, the S&P 500 gained 0.31%, and the Nasdaq rose 0.28%, after Trump agreed to raise the debt limit through to Dec. 15, approving of a three-month extension deal offered by Senate Democratic Leader Chuck Schumer and House Minority Leader Nancy Pelosi. The proposed extension is tied to a Hurricane Harvey relief package.
European stocks traded higher on Thursday as investors bet that European Central Bank President Mario Draghi will flag the end of the bank's €2.3 trillion quantitative easing program later in the day in Frankfurt.
Miami Mayor Carlos Gimenez issued a mandatory evacuation order for residents in some coastal areas of Dade County, the metropolitan area of Miami, to move inland and ordered local schools closed for the remainder of the week. The evacuation order, which will take effect at 7 a.m. ET on Thursday, is the first since Hurricane Wilma in 2005 and is expected to affect around 150,000 people.
"Irma remains a strong Category 5 hurricane," Gimenez told reporters at a news conference. "Significant weakening is not expected."
"All residents are advised to remain calm and to stay tuned to radio and television broadcasts for further advisories," the mayor's evacuation order read. "Evacuees should move as soon as possible to the homes of friends or family who live outside of evacuation areas."
Meanwhile, TheStreet found that flights out of Miami were particularly high for Friday, Sept. 8, with Delta Air Lines Inc. (DAL) and American Airlines Group Inc. (AAL) selling flights that were almost twice as expensive as normal and that would take double the time. American Airlines had the most expensive flight, coming in at $1,242 on Google's flight function.
France's interior minister said that Hurricane Irma had killed at least eight people and left 23 injured on French Caribbean island territories that were battered by the storm.
The plan comes as Peltz seeks one seat on the company's board, in the largest boardroom battle at a U.S. company and one that is shaping up to be one of the most expensive in recent history. The boardroom battle is set for Oct. 10.
The activist investor, who owns about $3.5 billion in shares of Procter & Gamble, which makes Crest toothpaste, Tide laundry detergent and Pampers diapers, said he wants to eliminate what he sees as a "suffocating bureaucracy."
4. -- International Business Machines Corp. (IBM) plans to spend $240 million over the next decade to create an artificial intelligence research lab at the Massachusetts Institute of Technology, the Associated Press reported.
MIT announced Thursday the formation of the new MIT-IBM Watson AI Lab. It will support joint research by IBM and MIT scientists.
Its mission will include advancing the hardware, software and algorithms used for artificial intelligence. It also will tackle some of the economic and ethical implications of intelligent machines and look at its commercial application for industries ranging from health care to cybersecurity, according to the Associated Press.
MIT President L. Rafael Reif said the new AI lab builds on a decades-long research relationship between IBM and MIT.
IBM shares rose 1% in premarket trading.
5. -- Donald Trump is unlikely to nominate Gary Cohn, his top economic adviser, as the next Federal Reserve chairman, The Wall Street Journal reported, citing people familiar with the president's thinking.
The shift by Trump was largely due to Cohn's reaction to Trump's response to the violence in Charlottesville, Virginia, in which the president at times blamed both white supremacists opposing the removal of a Confederate war statue and counterprotesters, the Journal noted.
Trump told the Journal in July he was considering Cohn as a potential successor to Fed Chair Janet Yellen, whose term as central bank chief expires in early February. Trump said in the interview that he also was considering whether to nominate Yellen for a second term.
Trump has said he'd like to pick the next Fed chief by the end of the year.
Updated from 5:57 a.m. ET.
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