Market Wrap: Yahoo!, Microsoft at It Again; Being a Millionaire's Getting Expensive!; ADP Says 'More Jobs'; UBS Sheds Two More

Market wrap-up for October 5th.

End of the Day: Dow Jones up 131 to 10,939.95; Nasdaq up 55.69 to 2,460.51; S&P 500 up 20 to 1,144.04

The following is a brief summary of events moving markets today:

• Maybe this time's the charm?: Yahoo! (Nasdaq: YHOO) ripped higher into the close on reports Microsoft (Nasdaq: MSFT) may be interested in buying the company.
  
  Microsoft originally bid $47.5 billion, or $33 per share, for Yahoo! back in 2008. With shares trading at around $15.50, it's unlikely the bid will be that high again. Microsoft's Bing has been powering Yahoo!'s search for a few months, so the two companies are already familiar with each other. No formal announcement or denial has been made.
  
  Yahoo! shares have sold off after the close following a report from AllThingsD's Kara Swisher saying her sources point to Microsoft execs who have "taken pains to make it clear that they are not going to be among the bidders in any significant manner."
  
  
• Do you want to be a millionaire?: Reports today have Senate Democratic leaders planning to finance President Obama's jobs plan by tacking on an additional 5 percent surcharge to those who earn $1 million or more per year. The Dems said a 5 percent tax would generate $450 billion, which would be enough to cover the plan... meaning it should meet opposition from the GOP, but it'll be a tougher battle.
  
  
• Rule 1 - Don't defraud customers: BNY Mellon (NYSE: BK) shares felt pressure today, closing about 3 percent lower, as the New York Attorney General filed a suit against the bank amid foreign exchange transactions. The AG, Eric Schneiderman, is seeking $2 billion from BNY Mellon. He alleges BNY misrepresented pricing practices to customers. Notably, the scheme went on for some 10 years ahead of the suit.
  
  
• Oh, Boy! Oh, Boy! Oh, Boy! We can't wait for Friday!: ADP reported that 91,000 positions were added in the month of September. The consensus was looking for an addition of 75,000 positions. The number was also up from a revised 89,000 in August.
  
  
• Another one bites the dust: UBS Investment Bank (NYSE: UBS) reported that Co-Heads of Global Equities, Francois Gouws and Yassine Bouhara, tendered their resignations with CEO Carsten Kengeter. The move comes following the recently announced unauthorized trading incident.
  
  In mid-September, 'rogue trader' Kweku Adoboli cost UBS $2.3 billion in trading losses for the quarter. The move prompted then-CEO Oswalt Gruebel to resign his position, even as some called him the best candidate to lead the company.

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