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Market Headlines 👀 

  • Nvidia (NVDA) announces partnership with Alibaba to help Chinese automakers expedite their autonomous driving AI efforts.

  • Intel (INTC) receives offer for a multi-billion dollar investment by Apollo after Qualcomm’s acquisition offer last week.

  • Boeing (BA) offers a 30% wage hike to Union to avert strike if possible.

  • S&P 500 (SPX) stocks continue to rally following Fed rate cuts last week.

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Recap Around the Street 🧠

The word of the week at last week’s Fed meeting was “recalibration” (we wrote about it in our Local H -themed Weekly Edge). To the Fed, recalibration means moving towards a more neutral stance in monetary policy in order to prevent undue weakening in the U.S. economy by holding rates at too restrictive of a level for too long. The question is what rate the Fed thinks is “neutral”. The current median projection in the Dot Plot (which should be taken with a big grain of salt) is ~2.9%. But Powell said in the press conference that he thinks the neutral rate is “significantly higher” than it was in the post -GFC period.(Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Source: NewEdge Wealth

Market Preview 🎞️ 

  • Tuesday, September 25th: Consumer confidence; S&P Case-shiller home index

  • Wednesday, September 26th: MBA mortgage applications; New home sales

  • Thursday, September 27th: Weekly jobless claims; Q2 GDP third estimate; pending home sales

  • Friday, September 28th: Personal consumption and spending (PCE) data; University of Michigan consumer sentiment final

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

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