Fed focus; Tax reform delay; Tech gets grilled

1. Fed focus: Wall Street is watching the Federal Reserve, which will release its latest decision on interest rates and monetary policy at 2:00 p.m. ET. Investors are expecting there will be no change to policy this time around, but another rate increase could come in December.

Where U.S. stocks are heading Dow Futures   Nasdaq Futures   S&P Futures +127.00   +33.25   +10.75 +0.54%   +0.53%   +0.42%

World Markets Japan   China   U.K. Nikkei 225   Shanghai Composite   FTSE 100 +408.47   +2.57   +15.30 22,420.08   3,395.91   7,508.38 +1.86%   +0.08%   +0.20%

Biggest Winners Freeport-McMoRan Inc +2.65%   Alexion Pharmaceuticals Inc +2.56%   Chesapeake Energy Corp +2.31%   American Airlines Group Inc +2.09% Biggest Losers Envision Healthcare Corp -30.75%   Electronic Arts Inc -2.42%   Fiserv Inc -2.26%   United Continental Holdings Inc -1.37%

News: What you need to know about the markets     Fed focus; Tax reform delay; Tech gets grilled By Alanna Petroff Wednesday, November 1st, 6:07am   1. Fed focus: Wall Street is watching the Federal Reserve, which will release its latest decision on interest rates and monetary policy at 2:00 p.m. ET.   Investors are expecting there will be no change to policy this time around, but another rate increase could come in December.   "The Fed has raised rates twice since January and [there are] forecasts [for] one more hike by the end of the year as part of a tightening cycle that began in late 2015," wrote FxPro analysts in a daily research note.   Thursday promises to be an even bigger day for the central bank: That's when President Trump is expected to announce his choice for Fed chair.   2. Stock markets roar: It's rare to see global stocks rising in unison, but that's the situation on Wednesday.   U.S. stock futures were pushing higher, setting markets up for potential records.   European markets made a strong showing in early trading. Germany's Dax index led the way with gains of roughly 1.4%.   Asian markets also ended the day in positive territory.   The Dow Jones industrial average and S&P 500 inched up by 0.1% on Tuesday, while the Nasdaq rose by 0.4% to hit an all-time high.   Before the Bell newsletter: Key market news. In your inbox. Subscribe now!   3. Taxes and tech: Republican lawmakers have delayed the release of their tax reform bill until Thursday because they are still negotiating key provisions in the bill.   It's a setback for GOP leaders who have been focused on tax reform and enthusiastically touted the November 1 announcement.   Investors want to see whether the Republicans are able to effectively implement their policies, and get a sense of how any tax changes could impact the wider economy.   Meanwhile, tech firms remain in the spotlight.   At 9:30 a.m. and again at 2 p.m., top legal executives from Facebook, Twitter and Google will testify before the Senate and House Intelligence Committees.   The execs are in Washington this week to answer questions on how foreign nationals used social media in an attempt to meddle in the 2016 presidential election.   At the first hearing on Tuesday, the tech companies were pressed on their ability to prevent bad actors from taking advantage of their platforms through ads and regular posts.   4. Earnings: New York Times, Estee Lauder and SodaStream will report earnings before the opening bell.   Tech firms including Facebook, Tesla, Fitbit, Yelp and GoPro will report after the closing bell. They will be joined by a number of food and restaurant firms, including Kraft Heinz, Shake Shack and Cheesecake Factory.   Sony shares trading in Tokyo surged by 11% following well-received results.   Investors will also be monitoring the latest October U.S. auto sales data, which will be released throughout the day.   Download CNN MoneyStream for up-to-the-minute market data and news

Coming this week:     Wednesday -- Facebook, Tesla report earnings Thursday -- Apple, Starbucks, Yum! Brands, Ralph Lauren, CBS earnings; House releases tax reform bill Friday -- October jobs report; iPhone X hits stores

Key Market Stats Latest Today's Change Oil $55.06 +0.68 / +1.25% Gold $1,281.10 +10.60 / +0.83% 10-yr 2.38% +0.01 / +0.25% Euro $1.16 -0.00 / -0.00%

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NYC's deadliest terror attack since 9/11

New York City...Tax reform...Paul Manafort...Tech companies...Las Vegas shooting

view in browser Wednesday 11.01.17 New Yorkers are showing their legendary strength after a terror attack on a bike path. Here's what else you need to know to Get Up to Speed and Out the Door. By AJ Willingham NYC terror attack    Eight people are dead and almost a dozen wounded after a man drove a truck onto a bike path Tuesday in Lower Manhattan. The attack is the deadliest in New York City since 9/11, and details about the attacker and the heroes who stopped him are still coming out.  We know the 29-year-old suspect is a native of Uzbekistan who moved to the United States in 2010 and most recently lived in New Jersey. According to police, a note left in the truck used in the attack says it was done in the name of ISIS, although the terror group has not publicly claimed responsibility.  We also know that 28-year-old New York police Officer Ryan Nash shot and apprehended the suspect as he tried to flee, effectively ending the deadly rampage. The suspect is alive, and officers were able to talk to him before he went in for surgery Tuesday.      Tax Reform After a hectic night of mixed messages, Republicans announced late Tuesday that they would release their tax reform bill Thursday instead of today, missing a self-imposed deadline because of some key provisions that still need ironing out. Republican leaders have been laser-focused on tax reform lately, and were keen on rolling the plan out on the first of the month. However, there are still some issues with how the bill will address retirement savings and state and local tax deductions, two key provisions that involve raising revenue to pay for tax cuts. The property tax deduction is expected to remain, but there's work to be done there as well. Looks like GOP lawmakers will have to settle for the second of the month instead.  Paul Manafort    A new court filing from the Justice Department on Tuesday revealed some interesting things about former Trump campaign manager Paul Manafort, who was indicted this week on money laundering charges and other counts. Apparently, he currently has three US passports, each under a different number. This year alone, he traveled to Mexico, China and Ecuador with a phone and email account registered under a fake name, according to the filing. Both Manafort and Trump campaign official Rick Gates were also frequent travelers to Cyprus. "Extensive travel of this nature further evidences a risk of flight," the prosecutor's filing said. Manafort also used vastly different estimations of his wealth over the years, to the tune of tens of millions of dollars. Oh, and he "frequently changed banks and opened and closed bank accounts," according to prosecutors. After turning himself in Monday, Manafort is under house arrest.  Tech companies    Silicon Valley is feeling the heat from Washington this week. Executives from Facebook, Twitter and Google testified Tuesday before Congress in the first of three hearings into how foreign nationals used social media to meddle in the 2016 US presidential election. At the hearing, held by the Senate Judiciary Subcommittee on Crime and Terrorism, lawmakers pressed the tech companies on their ability to prevent bad actors from taking advantage of their platforms through ads and regular posts. Some, such as Facebook, were questioned as to how, with such sophisticated technology, they couldn't smell something amiss when massive ad payments showed up from Russian sources.  Las Vegas shooting This is heartbreaking. A couple who managed to survive last month's shooting at a concert in Las Vegas died two weeks afterward in a car crash less than a mile from their home in Riverside, California. Dennis and Lorraine Carver attended the fateful Route 91 Harvest music festival on October 1 and survived by running for their lives once they heard gunshots. Their daughters say the trauma of the shooting that killed 58 people brought the family closer together, and the couple was "more in love those two weeks than the last 20 years."   People are talking about these. Read up. Join in. The LA Dodgers win Game 6 of the World Series, force Game 7.  Game 7 is the end of the line, folks, so whoever wins this one tonight gets all the baseball marbles. Actress Rose McGowan has a warrant out for her arrest.  The warrant for a drug charge is months old, but she's questioning the timing since it comes after she's been so outspoken about sexual assault in Hollywood.  Buying legal marijuana in California? You could be taxed 45%. At that rate, you might as well just roll your money up and smoke it instead.  Here's what's streaming on Netflix, Hulu and Amazon in November. Get your binge-watching fingers ready! New emojis are here! If you've been agonizing over how to communicate your love of broccoli or giraffes, consider your prayers answered.  We're living our lives because we're not going to allow the terrorists to win, period.    New York Gov. Andrew Cuomo, while attending a Halloween parade in New York City hours after Tuesday's terrorist attack.     "They eat shoes!" This boy, who's holding a bunch of tortoise food, just found about a dozen new best friends.   Share Tweet ALL CNN NEWSLETTERS CNN Five Things shows up in your inbox every weekday at 6 a.m. ET. Like what you see? Don't like what you see? Let us know. We're all about self-improvement. Did a friend forward you this newsletter? Sign yourself up!   Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. 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