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Midday Report: Crude Inventories Drop; Dow Retreats From Records Ahead of Fed

U.S. stocks fell as Wall Street awaited a decision on interest rates from the Federal Reserve.

U.S. stocks fell as Wall Street awaited a decision on interest rates from the Federal Reserve. Economists forecast a rate hike in December following more hawkish commentary from Fed members in recent months and economic data that supported a shift to policy normalization. Crude oil remained lower despite a decline in weekly inventories. The EIA reported a drop of 2.6 million barrels in the past week, more than double what was expected and a welcome salve to current oversupply. Neustar (NSR) rocketed higher after agreeing to be taken private by Golden Gate Capital. The deal values the ad tech company at roughly $1.8 billion, or nearly $3 billion including debt.  Qualcomm (QCOM) - Get Report was downgraded to NEUTRAL from OVERWEIGHT at JPMorgan. The firm said its valuation was less attractive based on its $70 price target.

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