Every morning the Street of Walls team puts out an update on market levels, today’s top stories, and active M&A deals.

Morning Market Levels:

  • S&P futures are down 0 points to 1,219
  • Europe: DJ Euro Stoxx -0.1%, FTSE 0.2%, CAC -0.1%, DAX -0.4%, Spain 0.3%, Italy 0.0%
  • Asia: Japan 1.5%, Hong Kong 2.0%, India -0.3%, Australia 1.7%
  • USD (DXY) up 0.50%
  • Gold up 0.18% to $1,684.7
  • Silver up 0.12% to $32.2
  • Copper up 0.57% to $342.7
  • Crude up 0.15% to $86.9
  • Corn down -0.16% to 639.3
  • Wheat up 0.24% to $624.3
  • 10yr Treasury yields are up, trading at 2.23%
  • S&P current trading at 12.28x current year P/E

Today’s Top Stories:

  • Investment Banking Layoffs: The amount of cuts over the coming years could top 100,000 at the investment banks http://bit.ly/o2RR6I
  • SAC Capital Buys More ITMN: Steve Cohen’s SAC Capital Advisors disclosed that the firm owns 5.2% of Intermune’s (Nasdaq:ITMN) common stock. As of June 30, SAC owned 595,149 shares and increased the position to 3,372,002 shares as of October 3, 2011 http://bit.ly/nqTiLJ
  • Occupy Wall Street: Protesting has expanded in NYC and globally, protesters marched Times Square Saturday (WSJ)
  • NYC Rents: NYC rents are rising substantially http://nyti.ms/rjirtZ
  • Man Spends 11yrs walking around World: Do you ever fantasize about traveling the globe, leaving all or most of your worldly possessions behind? For 11 years, Jean Béliveau did just that http://bit.ly/qR1N7D
  • Mitsubishi Morgan Stanley Layoffs: Mitsubishi UFJ Morgan Stanley Securities Co. will cut up to 1,300 jobs, or about 20% of its workforce, in a bid to cut costs, a person familiar with the matter said on Monday http://on.wsj.com/oL5PRR
  • RBS IB Cuts: The Royal Bank of Scotland is preparing to slash the size of its controversial investment banking arm by at least one-third, putting 5,000 jobs at risk http://thetim.es/qAfTNm
  • FDIC Bank Failures: Including the four failed banks, there have now been 80 failures year-to-date and 405 failures cycle to date
  • Youtube Update: “TechCrunch reports that YouTube (GOOG) to announce today that it will let music partners sell merchandise, digital downloads, tickets, et all thru Merch Store” (UBS Research)

M&A Watch:

  • Three Deals Announced Today: EP/KMI ($38B EV), STO/BEXP ($4.7B EV), and G4S/ISS ($8.2B EV)
  • Roche to buy Anadys for ~$230m (BBG)
  • Kinder Morgan’s agreement to buy El Paso for $21.1b would create largest natural-gas pipeline network in U.S. (BBG)
  • Michael Dell wants to use some of co.’s $16b in cash for acquisitions to counter slumping demand for PCs; that may put Citrix Systems, Informatica on his shopping list (BBG)
Disclosure: I do not have a position in any stocks mentioned in this article, do not have a plan to initiate a position within the next 72 hours.
Disclaimer:  The information, opinions, material, and any other content provided in this article is for informational purposes only and is not to be used or considered an offer or solicitation to buy or sell securities, investment products, financial instruments, or to participate in any particular investment strategy. The information, opinions, material, and any other content provided in this article does not constitute as a recommendation or as advice to buy or sell securities, investment products,  financial instruments, or to participate in any particular investment strategy.