Welcome Back,

Together with Sauce Bae 🤝🏽

^{Sauce Bae: The healthy low sodium pineapple habanero and turmeric infused hot sauce that was featured on the multi-million viewer show Hot Ones.}

Market Headlines 👀 

• US 2Q final GDP comes in at 2.1%; est: 2.1%.

• US weekly jobless claims come in at 204k; est 215k.

• US pending home sales came in at +0.8% MoM growth, est: 1.7%.

• US Federal Reserve chair Powell in conversation with educators today.

• Nvidia (NVDA) company’s French local offices have been raided by local authorities.

• OpenAi is seeking a $90b valuation in a new round of funding.

• Snapchat (SNAP) announces it is closing its enterprise division after a less than a year of opening.

• Lucid Motors (LCID) announces its factory opening in Saudi Arabia, home to its largest shareholder.

• SpaceX wins its first ever US Space force contract, part of its new ‘Starshield’ program.

• Lululemon (LULU) announces a major five year strategic partnership with Peloton.

• Gamestop (GME) names Ryan Cohen as the new CEO.

Earnings 💸

• Nike (NKE)

  • EPS: $0.94 beats (exp. $0.75)

  • Revenue: $12.94b misses (exp. $12.99b)

Recap Around the Street 🧠

SPX approaches a critical moving avg, its 200d. The number is right around the same area JP Morgan collar is pinned, which is set to roll over tomorrow.

Used car prices have recently turned higher over reports dealers are front loading inventories ahead of the UAW strikes. Just one more headache for the Fed and for borrowers trying to stay afloat. (Contributed by Benjamin Lavine, CIO at 3D/L Capital).

Market Preview 🎞️

• Friday, September 29th: Personal income / spending PCE; University of Michigan sentiment

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

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

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