MONDAY 9/28/15; Spain Election; CALM; Personal Income and Outlays; Fed Speak; European and US Stocks Collapse; Biotech Beaten; Energy Spanked; Commodities Crushed; High-Yield Bonds in Turmoil

At 8 AM Tokyo (7 PM EST Sunday evening in the States), US futures begin the week on a down beat. S&P -10. Dow -68. Nasdaq -23. Nikkei Index futures are set to open lower. Dollar/yen 120.51. Aussie dollar 0.7014. Markets in Hong Kong (HSI), South Korea (KOSPI) and Taiwan (Taiex) are closed for holidays. The Harvest Moon day occurs in Korea.

Today is the one year anniversary of the Occupy Central (Umbrella Revolution) movement in Hong Kong when students 






























[Text is Redacted: Purchase September 2015-09 to Read the Complete Chronology]

Fed’s Williams says a rate hike should occur “sometime this year.” Williams expresses concern over the Federal Reserve waiting too long to hike rates.

In the evening, Presidents Obama and Putin meet. Both leaders walk in front of cameras at the UN and shake hands the first formal face to face meeting in two years. The discussion focuses on fighting the ISIS Islamist militants in Syria and Iraq. The meeting lasts 95 minutes far longer than expected. Neither leader comments after the meeting.