Here are five things you must know for Tuesday, Sept. 19:
Futures for the Dow Jones Industrial Average rose after the blue-chip index closed trading on Monday, Sept. 18, with its fifth record close in a row. The S&P 500 also scored its second consecutive closing high on Monday.
The Federal Open Market Committee, the monetary-policy arm of the Fed, begins its meeting on Tuesday, with an announcement on interest rates expected on Wednesday, Sept. 20. Investors are pretty confident in what's to come at the Fed meeting: Markets have given a near-zero chance of a change to U.S. interest rates, but near-certainty that the Fed will begin unwinding its $4.5 trillion balance sheet.
The Chapter 11 filing was made just ahead of the holiday shopping season. The filing is one of the largest ever for a retailer, and it comes as Toys 'R' Us struggled to deal with competition from Amazon.com Inc. (AMZN) , Walmart Stores Inc. (WMT) and Target Corp. (TGT) .
The company expects its roughly 1,600 Toy 'R' Us and Babies 'R' Us stores and online stores to operate as normal while the proceedings are taking place.
"Together with our investors, our objective is to work with our debtholders and other creditors to restructure the $5 billion of long-term debt on our balance sheet," Chairman and CEO Dave Brandon said in a statement.
The company has received a commitment for more than $3 billion in debtor-in-possession financing from various lenders, including a JPMorgan-led bank syndicate and certain of the company's existing lenders.
3. -- Equifax Inc. (EFX) learned about a major breach of its computer systems in March, almost five months before the date it has publicly disclosed, Bloomberg reported, citing three people familiar with the situation.
The fund, a combination of Meister's Corvex Management hedge fund and the 40 North Investment group run by David Winter and David Millstone, has consistently opposed the $20 billion tie-up with Huntsman, arguing the deal has "no strategic rationale" and is "a complete reversal of the company's longstanding strategy of becoming a pure-play specialty chemicals company."
White Tale now owns 50.1 million shares, the group said in a letter to the Clariant board published late Monday, and the 15.1% stake that makes it the company's biggest shareholder. The fund wants Clariant's board to review the merger and look for alternative ways to add shareholder value before calling for a vote on the proposed deal.
5. -- Hurricane Maria swept over the small island of Dominica with catastrophic winds overnight, beginning a charge into the eastern Caribbean that threatens islands already devastated by Hurricane Irma and holds the possibility of a direct hit on Puerto Rico.
Fierce winds and driving rain lashed mountainous Dominica for hours as Maria caused flooding and tore roofs from homes as an extremely dangerous Category 5 storm. A police official on the island, Inspector Pellam Jno Baptiste, told the Associated Press late Monday that there were no immediate reports of casualties but it was too dangerous for officers to do a full assessment as the storm raged outside.
"You have to evacuate. Otherwise, you're going to die," said Hector Pesquera, the island's public safety commissioner, the AP reported. "I don't know how to make this any clearer."
Updated from 5:56 a.m. ET.
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