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Market Headlines 👀 

• US Federal Reserve Chair Powell spoke on the economy, Fed policy and more.

• US Stocks end the quarter, here is more data on Q3 markets performance.

• JP Morgan (JPM) rolls its JPM collar trade into December setting new put and call strikes for its trade.

• Apple (AAPL) no longer intends to invest in the latest OpenAi fundraising round.

• Alphabet (GOOGL) announces a $1b investment into Thailand for building data centers and accelerating its AI presence.

• Softbank (SFTY) plans to invest $500m into the latest OpenAi fundraising round.

• AT&T (T) agrees to sell its stake in DirecTv to private equity firm TPG for $7.6b.

A note from Ryse 📣

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Interest rate sensitive and hard assets outperformed on 3Q largely in response to Fed easing with a surprising 50 bp cut at the Sept FOMC. Equities and bonds both responded positively to the beginning of the rate cut cycle while the US dollar weakened, especially against Asian currencies.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management).

The S&P 500 continues to have broad participation in the rally (and narrow participation in the sell-offs compared to last year’s broad based weakness). This reading of 84% of names above their 50 day is indicative of strong trends throughout the market, compared to the distinctly narrow strength experienced earlier in the year.(Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Market Preview 🎞️ 

• Tuesday, October 1st: JOLTs job openings; S&P Global manufacturing US PMI

• Wednesday, October 2nd: MBA mortgage applications; Tesla last quarter deliveries data; ADP employment report

• Thursday, October 3rd: Weekly jobless claims; Factory orders

• Friday, October 4th: Non-farm payrolls and unemployment data

Enjoy reading?👇

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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