Dow Futures contract was down 170 points, or 0.5%, at 06:35 ET (10:35 GMT), the S&P 500 Futures contract was down 30 points, or 0.7%, and the Nasdaq 100 Futures contract was down 120 points, or 0.8%..

1. What’s causing US futures to decline and the dollar to rise following Fed and BOE decisions?
2. Dow futures plunge dramatically after the Fed predicts higher interest rates.
3. Cisco Systems to acquire Splunk for $28 billion; shares fall
4. Lawyers who sued Tesla board for excess pay want $10,000 an hour
5. Apple ‘spectacularly’ failed to develop its own silicon chip – WSJ
6. As strikes continue, Hollywood employees resort to flea markets and bake sales.
7. NextEra employees place a large wager on the company’s stock.
8. Google intends to replace Broadcom as an AI chip supplier by 2027.
9. Broadcom stock drops 5% following the release of the news. Google may terminate the partnership.
10. The Fed’s hawkish attitude on interest rates drives down US stock futures.
11. Dollar maintains gains following the Fed; franc falls as SNB surprises
12. Goldman Sachs has raised its expectation for a Fed rate drop to the fourth quarter of 2024.
13. Oil falls as prospects for a rate hike in the United States balance a tight supply picture.
14. The FDA discovered flaws at Novo’s major US manufacturing in May 2022 – report
15. Endava Reports Fourth-Quarter and Fiscal Year 2023 Results, Expects Challenging First-Quarter 2024 
16. Autozone Reports Strong Fourth-Quarter Results, Commercial Expansion Plans, and Leadership Transition 
17. UAW workers go on strike at Mercedes supplier ZF’s Alabama facility. 
18. Boeing’s September 737 deliveries continue at a’sluggish pace,’ according to BofA. 
19. The decrease in Binance trading volume contributes to the overall crypto market downturn. 
20. General Mills tops first-quarter projections due to increasing product prices. 
21. Textron has announced an option to sell up to 1,500 Cessna Citation jets to NetJets. 
22. Bank of America CFO: It’s difficult to imagine a recession in the United States given current consumer spending. 
23. Broadcom shares have risen 51% this year, outperforming the S&P 500. 
24. Meta Platforms Expands Whatsapp Payment Options in India 
25. Instacart shares fell in the premarket after rising on their first trading day. 
26. The CEO of Porch Group purchases $72k in stock. 
27. The founder and CEO of Domo, Inc. purchases $384k in stock. 

GLOBAL NEWS 

1. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 1.22%.
2. At the close of business in Australia, the S&P/ASX 200 was down 1.37%.
3. The Nifty 50 is down 0.80% at the closing of trade in India.
4. Bank of England keeps rates unchanged, pauses lengthy hiking cycle
5. China examines quant methods as market weakness fuels public rage – sources
6. Consumer goods manufacturers’ pricing difficulties may expand beyond France, according to one analysis.
7. Global markets are nervous about possible interest rate hikes and inflation fears.
8. Updater Services’ IPO pricing band is Rs 280-300, with a target of Rs 640 crore.
9. Kokusai Electric intends to list on the Tokyo Stock Exchange for $860 million.
10. South Korean equities fell to a month-low as the US Federal Reserve maintained its hawkish attitude.
11. As central banks spring shocks, stocks wilt and the dollar climbs.
12. Taiwan lowers its GDP forecast due to sluggish global demand, but maintains interest rates steady.
13. The Bank of England is on the verge of raising interest rates again after a surprising increase in inflation.
14. The Swedish central bank tightens policy and admits that it may need to do more.
15. Norway boosts interest rates to 4.25%, with another hike likely in December.
16. European stocks fall as the Fed becomes more aggressive; the BoE is up next.
17. Sources say UBS has slashed roughly 70% of Credit Suisse researchers in Hong Kong.
18. The Philippine central bank maintains rates while sending a hawkish signal.
19. After suspending rate hikes, the Swiss National Bank is now in a wait-and-see mode.
20. Ola Electric of India intends to file for an IPO of up to $700 million by the end of October. – According to Reuters 
21. French shops will require that food groups reduce their costs by up to 5%. 
22. Consumer goods manufacturers’ pricing difficulties may expand beyond France, according to one analysis. 
23. Concerns over the Hdfc Bank merger cause a reduction in the stock’s target price. 
24. Indian stocks have reached 52-week highs, indicating a strong market sentiment 
25. .Despite a rise in fuel prices, UK inflation has reached an 18-month low. 

 Economic data

·     The Swiss National Bank (SNB) ended its run of five consecutive interest rate increases since it began lifting rates out of negative territory in June 2022, and keeps its main policy rate to 1.75%. The SNB noted that inflation has ebbed lower but said a further tightening cannot be ruled out.

·     The China’s yuan slipped to a more than one-week low against a strengthening dollar and breached a key threshold on Thursday, pressured by a higher-for-longer signal on interest rates by the U.S. Federal Reserve.

·     Gold and base metals prices slip after the U.S. dollar jumps following the Federal Reserve’s meeting. Oil prices also dropped after Federal Reserve officials signaled they were considering raising rates once more this year and leaving them higher for longer.

·     U.S. House Speaker Kevin McCarthy will try to restart his stalled Republican spending agenda on Thursday, with a procedural vote on a fiscal 2024 defense appropriations bill that Republicans have already twice failed to advance. A vote to open debate on the $886 billion measure is expected in the House of Representatives, aimed at finding common ground on legislation to avert a government shutdown in barely a week and half.

Economic Calendar

·     8:30 AM ET                  Weekly Jobless Claims…est. 225K

·     8:30 AM ET                  Continuing Claims…est. 1.695M

·     8:30 AM ET                  Philly Fed Business Index for September…est. -0.7 (prior +12.0)

·     8:30 AM ET                  Current Account Balance for Q2…est. (-$221B)

·     10:00 AM ET                Existing Home Sales M/M for August…est. 4.1M

·     10:00 AM ET                Leading Index M/M for August…est. (-0.5%)

·     10:30 AM ET                Weekly EIA Natural Gas Inventory Dat

Other Key Events 

·     DA Davidson Annual Diversified Industrials & Services Conference, 9/20-9/22, in Nashville, TN

·     Oracle Cloud World 2023, 9/18-9/21

·     Sidoti September Small-Cap Conference (virtual), 9/20-9/21

·     Truist West Coast Bus Tour (In Person – San Francisco), 9/19-9/21

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