U.S. equities are subdued
U.S. equities are subdued without much on the economic docket, though the FOMC minutes will feature along with a double dose of 3- and 10-year Treasury supply and more Fedspeak later. The Dow is 13-points lower, S&P sank 2-points and NASDAQ is off 6-points in pre-market trade. A 3.4% surge in Japan machine orders helped propell the Nikkei 0.28% to a record high, while China's CSI 300 gained 0.33% and the HK Hang Seng sank 0.36%. Europe is relatively subdued, with the major bourses slightly underwater, though Spain's IBEX recouped 1.3% so far after the stalemate on Catalan independence. In terms of earnings, BlackRock and Delta rallied over 2% after solid results (though Delta's profits were dented the hurricanes), while focus shifts to the banking duo of Citi and JPM on Thursday. The WSJ reported that a flurry of interest in passive investing saw $300 B in inflows to Vanguard through September to push them past $4.7 tln in assets.