Fed to Taper in December at the Earliest; HSBC to Fight $2.5B Fine

Breaking News This Morning ... Earnings: First Horizon, First Niagara, General Electric, SunTrust, Morgan Stanley Receiving Wide Coverage ... Taper Timetable: December now looks like the earliest the Fed will begin to scale back its purchases of mortgage-backed and Treasury securities. It's unlikely to do so at the policy meeting at the end of this month. "Fed officials have said the decision depends on how the economic data evolve, but the data won't be very illuminating into November…