1. U.S. stocks were lower in early trading on Monday ahead of this week's Federal Reserve policy meeting and as Apple shares fell a day before it reports quarterly results.
The Fed is not seen raising rates at the two-day meeting but investors will scrutinize its statement on Wednesday for a bearing on when it will pull the trigger.
While Fed Chair Janet Yellen has said the central bank could raise rates this year, it will do so only if there are clear signs of sustained economic growth.
2. New U.S. single-family home sales fell to near a one-year low in September after two straight months of gains, suggesting a temporary cooling in the market for new houses.
The Commerce Department said on Monday sales dropped 11.5percent to a seasonally adjusted annual rate of 468,000 units, the lowest level since November 2014. August's sales pace was revised down to 529,000 units from the previously reported 552,000 units.
3. FOREX - The U.S. dollar slipped lower against its Canadian counterpart on Monday, after the release of disappointing U.S. housing data.
USD/CAD hit 1.3131 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3151, edging down 0.13%.
4. COMMODITIES - The United States is now importing more foreign oil after years of declines. Low oil prices are forcing U.S. producers to scale back operations, leading domestic refineries to boost shipments from countries like Nigeria.
Total U.S. crude oil imports rose for three consecutive months this summer, from 5.6 percent of total imports in April to 11 percent in July, according to the latest data from the U.S. Energy Information Administration, a federal statistics agency. Until this year, the domestic energy boom had pushed crude imports down 20 percent between 2010 and 2014. But that dynamic is shifting as prices stay low due to an oversupply in global crude, the Wall Street Journal reported Monday.
5. Drugmaker Valeant Pharmaceuticals International Inc (TO:VRX) (N:VRX) laid out a detailed defense on Monday of its relationship with a little-known specialty pharmacy, but its arguments failed to calm all investors' concerns.
Valeant's shares were up about 1 percent in New York and Toronto after tumbling as much as 14 percent before normal trading hours. They had plunged 35 percent last week following a critical report by short-seller Citron Research, run by Andrew Left.
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