Stock market news today September 20

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Here’s what traders can do to protect themselves from the
coming market collapse

At this point, most observers know the ongoing
equity bull market is
the longest on record.

But there’s another attribute that makes the 9-1/2-year bull run
unique historically: its deflationary nature.

If you’re unfamiliar with the concept of deflation, it refers to
a general decline in prices for goods and services. As it relates
to the market, Bank
of America Merrill Lynch points out that as
stocks have soared to record highs, brokerage commissions
have slipped to $30 billion from $80 billion since 2000.

Bank of America’s investment banking chief Christian
Meissner is departing 

Christian Meissner is out at Bank of America Merrill Lynch.

The company’s
global investment banking chief has decided to leave the firm at
the end of the year, according to an internal memo from COO Tom
Montag.

“I am very proud of what we have achieved during the last eight
years. We have built a tremendous team around the world serving
our clients and it’s been an honor to have led such a talented
group of professionals,” Meissner is quoted as saying in the
memo.

Succeeding Meissner is Matthew Koder, the bank’s president of
Asia Pacific, who will soon move from Hong Kong to New York to
facilitate the transition.

Citigroup is undergoing its most significant changes in
half a decade

Citigroup has undergone a slew of changes over the past five
months, including the departures of senior executives and
restructurings within their business lines.

In aggregate, these are some of the most seismic changes to take
place at Citi since Michael Corbat took the reins as CEO in 2012.

The changes come amid investor frustration over the pace of
Citi’s progress, as well as the arrival of activist ValueAct
Capital.

But the bank has downplayed the significance of the changes, or
their connection to pressure from investors.

Adobe is in late stage negotiations to buy Marketo for
more than $5 billion

Adobe
is in late stage talks to acquire Marketo and a deal could be
announced in the next several days, according to a source
familiar with the company.

Marketo, privately held marketing automation company, could sell
for more than $5 billion, the source said. Private equity firm
Vista Equity Partners bought the company for $1.8 billion in
2016.

Adobe, which is looking to enhance its offerings in the
business-to-business space, looked like it would near a deal late
last week, according to sources familiar.
Reuters first
reported Adobe’s interest, which Business
Insider separately confirmed.

Trump accuses ‘OPEC monopoly’ of pushing oil prices
higher 

President Donald Trump on Thursday
once again tweeted his belief that major oil producers in the
Middle East were conspiring to keep oil prices high, and he
seemed to threaten the withdrawal of military resources from the
region if the OPEC cartel did not help to lower prices.

“We protect the countries of the Middle East, they would not be
safe for very long without us, and yet they continue to push for
higher and higher oil prices!” he
said in an early-morning tweet. “We will remember. The OPEC
monopoly must get prices down now!”

Oil prices have increased from about $50 a barrel last September
to more than $70 a barrel today, with a rebalancing of supply and
demand in the market as well as major weather and geopolitical
events playing a part.

In markets news