Applied Materials Quits Planned Merger; S&P, Nasdaq Extend Records

The S&P 500 and Nasdaq extended their record run by market open Monday as Wall Street awaited a busy week of earnings and a meeting of the Federal Reserve. The central bank will convene for a two-day meeting on Tuesday to discuss whether it is ready to liftoff from crises-level interest rates. Deutsche Bank (DB) stumbled on Monday after reporting first-quarter profit half that of a year earlier as legal expenses ate into earnings. Last week the German bank was hit with a $2.5 billion for alleged interest rate manipulation. Applied Materials (AMAT) plummeted after Tokyo Electron called off their $29 billion merger.