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Market Headlines 👀 

• US Q2 final GDP: final estimate for U.S. Q2 GDP came in at +3.8%, beating all forecasts and revising up from prior estimates

• Jobs Data: weekly jobless claims fell to 218k for the week, below the expected number 233k.

• US new home sales in the U.S. jumped 20.5% in August, marking the strongest monthly pace since January 2022.

• Intel (INTC) reportedly reached out to Apple about a potential investment, as the chipmaker explores new avenues to bolster its position amid ongoing challenges.

• Citigroup (C) rolling out a 5,000-person pilot program to test AI "agentic" technology, aiming to assess its impact across its business.

Earnings 💸

• Costco (COST)

  • EPS: $5.87 beats (exp. $5.80)

  • Revenue: $86.15b beats (exp. $86.06b)

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S&P 500 Heatmap 🔥 

Movers and Shakers 📷 

📈 Top Gainers

❇️ $INTC ( ▲ 0.46% )(Intel): Climbed after reports that the company is seeking a large investment from Apple, renewing optimism about its chip business.
❇️ $IBM ( ▲ 1.92% )(IBM): Advanced following an announcement from HSBC highlighting progress in quantum computing for financial services.
❇️ $LAC ( ▼ 8.12% )(Lithium Americas): Gained on speculation about a potential U.S. government stake to secure domestic lithium supply.

🔻 Top Decliners

🔻 $KMX ( ▼ 0.86% )(CarMax): Fell sharply after its quarterly results missed estimates, with management citing a challenging auto demand environment.
🔻 $ORCL ( ▼ 6.93% )(Oracle): Dropped as new analyst coverage moved the stock to “sell,” citing concerns over cloud revenue projections.
🔻 $LLY ( ▼ 2.02% )(Eli Lilly): Declined after halting a study of one of its experimental drugs, raising concerns about its clinical pipeline.
🔻 $FCX ( ▼ 1.25% )(Freeport-McMoRan): Slipped on commodity volatility and speculation regarding near-term metals demand.

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Recap Around the Street 🧠

📉 Cash Is No Longer King: retail investors slash cash to Record Lows.

Market Preview 🎞️ 

• Friday, September 26th: Personal income and spending (PCE)

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