Fed
The Dow Futures contract was up 50 points, or 0.2%, at 06:30 ET (10:30 GMT), the S&P 500 Futures contract was up 7 points, or 0.2%, and the Nasdaq 100 Futures contract was up 20 points, or 0.1%.
Today’s main U.S. market news –
- What’s moving markets? The start of the Fed meeting, the pricing of Instacart’s IPO, and the Fed meeting itself.
- In this week’s meeting, the Fed will hold rates constant while signaling its policy direction.
- Dow futures rise ahead of the start of the key Fed meeting.
- Walsh Jr., a Semtech director, purchases $500k in stock.
- AutoZone’s earnings were $1.24 higher than expected, and revenue exceeded expectations.
- Coinbase has launched a grassroots campaign to advance US law.
- Business optimism in the United States regarding the prospects for China has reached a new low, according to a study.
- The expansion of Canada’s Trans Mountain pipeline will disrupt oil supplies to the United States and raise prices.
- Stitch Fix shares are down 6.5% as a result of disappointing guidance.
- Clients of BofA have begun to dump US technology equities.
- FedEx’s quarterly profit was most likely increased by the suffering of competitors.
- Target is to hire 100,000 people and to give enormous discounts throughout the holiday season.As traffic continues to lag,
- Google unveils additional Bard features. ChatGPT
- The Canadian stock index falls, while US markets produce mixed results.
- The Dow Jones Industrial Average was up 0.02% at the closing of trading in the United States.
- Major supermarket retailers in Canada have agreed to help stabilize pricing.
- If no breakthrough is made by Friday, the UAW will strike at more US auto plants.
- Morningstar said that actively managed ETFs attracted $9.8 billion in August.
- Morgan Stanley has being sued for $750 million by rail line lenders who claim fraud.
- Lyft will pay $10 million civil penalty for failure to disclose -SEC
- BMO Financial Group is exiting indirect auto lending in order to focus on its core capabilities.
- Medco Energi has secured a credit facility from Bank Mandiri worth IDR 5.25 trillion.
- US markets remain neutral as investors await the Fed’s meeting this week.
- Oil is trading in the mid-$90s ahead of the Fed’s inflation announcement and other rate decisions.
- As shares of Arm Holdings fall, options on the company see a surge in trading volume.
- Macy’s will hire around 38,000 people for the holidays.
- Hyundai Motor’s South Korean union has agreed to a 12% wage increase for the dealday season.
- The Fed wishes to chill spending; a strike, a government shutdown, and student loans may add to the ice.
- Stocks and the dollar fall in a week dominated by central banks.
GLOBAL NEWS
- At the close of business in Australia, the S&P/ASX 200 was down 0.47%.
- Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.80%.
- Tata Motors will raise commercial vehicle costs by 3% beginning October 1.
- Asian stocks fall ahead of the Federal Reserve’s interest rate decision.
- In an ongoing legal fight, Credit Suisse has been forced to pay $742.7 million.
- Signature Global raises $43 million in advance of its IPO, which is scheduled to take place on the BSE and NSE.
- European stocks rise as attention shifts to central bank meetings.
- The energy sector shines as the Australian market falls due to rate concerns.
- Nordea Bank disposes of 12.3 million treasury shares.
- Inflation in the United Kingdom will be the highest among major economies in 2023, according to the OECD.
- Arizona’s governor said the state is in advanced packaging talks with TSMC.
- Exclusive-UBS identifies South Korea, India, and other countries as’slow’ on Credit Suisse clearance.
- Google is making a last-ditch effort to reverse a $2.6 billion EU antitrust fine.
- Asia’s stocks fall as a result of China’s problems, while Japan catches up with the chip sell-off.
- As risks rise, Japan’s central bank will maintain support for the time being.
- Bank Indonesia will keep interest rates at 5.75% for the remainder of 2023 before cutting them early next year, according to a Reuters poll.
- The RBA contemplated raising interest rates in September but wanted more time to evaluate previous increases.
- European markets are expected to fall significantly ahead of big central bank decisions.
- Country Garden’s yuan bond is extended – Bloomberg News
- Another dollar coupon deadline looms for China’s cash-strapped Country Garden.
- Hyundai Motor’s South Korean union has agreed to a 12% wage increase.
Economic data
· September NAHB Housing market index 45 (lowest since March) below consensus 50 and vs. 50 in August as index of current single-family home sales 51 versus 57 in August (previous 57) and index of home sales over next six months 49 versus 55 in August (previous 55).
Economic Calendar
- 7:45 AM ET ICSC Weekly Retail Sales
- 8:30 AM ET Housing Starts M/M for August
- 8:30 AM ET Building Permits M/M for August
- 8:55 AM ET Johnson/Redbook Weekly Sales
- 1:00 PM ET US Treasury to sell $16B in 20-year notes.
- 4:30 PM ET API Weekly Inventory Data
Other Key Events
- Northland Institutional Investor Conference 2023 (virtual), 9/19
- Oracle Cloud World 2023, 9/18-9/21
- Truist West Coast Bus Tour (In Person – San Francisco), 9/19-9/21
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