Welcome Back,

In Partnership with ZenLedger 🤝 

Market Headlines 👀 

• US CPI report will be released Wednesday morning, consensus on the street is 2.6%.

• Apple (AAPL) announces new iPhone, watch, airpods and new lineup of products across its suite.

• Oracle (ORCL) announces a new strategic partnership with Amazon AWS.

• Arm (ARM) Apple’s new AI features and chips will utilize Arm AI technology.

• Palantir (PLTR) S&P 500 announces new entrants into the index last Friday which included Palantir and Dell Technologies.

A note from ZenLedger 📣

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

CPI street estimates ahead of the print Wednesday below:

Looking at another measure to check for an oversold condition, here we can see that the % of names above their 50 day moving average is still at ~60%. At major, durable lows, like October of 2023, this measure has often gone below 20%, as a sign of capitulation and indiscriminate selling. What is keeping this measure aloft is better performance out of defensive areas, like Utilities, Healthcare, and Staples, suggesting that the index weakness has been reflecting a breakdown in prior leadership (Tech, Communication Services) instead of broad based, indiscriminate weakness. (Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Market Preview 🎞️ 

• Tuesday, September 10th: First presidential debate

• Wednesday, September 11th: MBA mortgage applications; Consumer price index (CPI)

• Thursday, September 12th: Weekly jobless claims; Price producer index (PPI);

• Friday, September 13th: University of Michigan consumer sentiment

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Wednesday with a curated list of important news, economic data and market highlights. 

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