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US Markets Brace For Powell And Rate Cuts Tomorrow
US Fed FOMC preview | JP Morgan / Apple potential partnership | Retail sales and GDP update
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Market Headlines 👀
US Federal Reserve FOMC meeting will be held on Wednesday, the first cuts are coming.
US retail sales comes in +0.1% for August and Atlanta Fed also increases its annualized GDP target to 3% from previous 2.5%.
Goldman Sachs (GS) says SPX could hit 6,000 in the next 12 months.
Microsoft (MSFT) announces a $60b new buyback and boosts its dividend.
Intel (INTC) announces expansion on their strategic collaboration with Amazon which will include custom AI chips for Amazon AWS.
Intel (INTC) receives an additional $3b from the government under the CHIPS act.
Boeing (BA) announces a mass hiring freeze and is considering additional layoffs.
Apple (AAPL) JP Morgan is in talks with Apple to take over the company’s credit card program.
Amazon (AMZN) announces its next prime day will be held from Oct 8-9th.
Crowdstrike (CRWD) launches Crowdstrike Financial a native financial services product within its Falcon product.
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S&P 500 Heatmap 🔥
Recap Around the Street 🧠
Here we can see Here you can see the 63% odds of the Fed going 50 bps at this week’s meeting, a disconcerting degree of uncertainty. Whether the Fed goes 25 or 50, Powell’s comments about how they are thinking about the rate path through the end of the year will be important.(Contributed by Cameron Dawson, CIO at NewEdge Wealth).
Source: NewEdge Wealth
Market Preview 🎞️
Wednesday, September 18th: MBA mortgage applications; US Fomc rate decision
Thursday, September 19th: Weekly jobless claims; Existing home sales
Friday, September 20th: Quad witching options expiry
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