Put your rally caps on. Stocks look to open strong on the heels of a rebound in Asia. The big move is ironic since September 30th is historically one of the worst days for stocks. The financial blog Bespoke looked at data as far back as 1945 and found the S&P 500 has posted positive returns just 38% on the last day of September, making it one of the worst trading days of the year. Ralph Lauren (RL) steps down as CEO of the fashion empire he founded. Stefan Larsson, the former global president of Old Navy, will replace Lauren as CEO effective in November. Lauren will remain with the company as Executive Chairman and Chief Creative Officer of the company. Tesla (TSLA) CEO Elon Musk handed over the first keys to its Model X crossover vehicle. The Model X will fit 7 adults in three rows of seats. It also has dual-hinged falcon doors. The Model X costs over $100,000 per vehicle.
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