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 –

1. What’s moving markets? The start of the Fed meeting, the pricing of Instacart’s IPO, and the Fed meeting itself. 
2. In this week’s meeting, the Fed will hold rates constant while signaling its policy direction. 
3. Dow futures rise ahead of the start of the key Fed meeting. 
4. Walsh Jr., a Semtech director, purchases $500k in stock. 
5. AutoZone’s earnings were $1.24 higher than expected, and revenue exceeded expectations. 
6. Coinbase has launched a grassroots campaign to advance US law. 
7. Business optimism in the United States regarding the prospects for China has reached a new low, according to a study. 
8. The expansion of Canada’s Trans Mountain pipeline will disrupt oil supplies to the United States and raise prices. 
9. Stitch Fix shares are down 6.5% as a result of disappointing guidance. 
10. Clients of BofA have begun to dump US technology equities. 
11. FedEx’s quarterly profit was most likely increased by the suffering of competitors. 
12. Target is to hire 100,000 people and to give enormous discounts throughout the holiday season.As traffic continues to lag,  
13. Google unveils additional Bard features. ChatGPT 
14. The Canadian stock index falls, while US markets produce mixed results. 
15. The Dow Jones Industrial Average was up 0.02% at the closing of trading in the United States. 
16. Major supermarket retailers in Canada have agreed to help stabilize pricing. 
17. If no breakthrough is made by Friday, the UAW will strike at more US auto plants. 
18. Morningstar said that actively managed ETFs attracted $9.8 billion in August. 
19. Morgan Stanley has being sued for $750 million by rail line lenders who claim fraud. 
20. Lyft will pay $10 million civil penalty for failure to disclose -SEC 
21. BMO Financial Group is exiting indirect auto lending in order to focus on its core capabilities. 
22. Medco Energi has secured a credit facility from Bank Mandiri worth IDR 5.25 trillion. 
23. US markets remain neutral as investors await the Fed’s meeting this week. 
24. Oil is trading in the mid-$90s ahead of the Fed’s inflation announcement and other rate decisions. 
25. As shares of Arm Holdings fall, options on the company see a surge in trading volume. 
26. Macy’s will hire around 38,000 people for the holidays. 
27. Hyundai Motor’s South Korean union has agreed to a 12% wage increase for the dealday season. 
28. The Fed wishes to chill spending; a strike, a government shutdown, and student loans may add to the ice. 
29. Stocks and the dollar fall in a week dominated by central banks. 

GLOBAL NEWS 

1. At the close of business in Australia, the S&P/ASX 200 was down 0.47%. 
2. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.80%. 
3. Tata Motors will raise commercial vehicle costs by 3% beginning October 1. 
4. Asian stocks fall ahead of the Federal Reserve’s interest rate decision. 
5. In an ongoing legal fight, Credit Suisse has been forced to pay $742.7 million. 
6. Signature Global raises $43 million in advance of its IPO, which is scheduled to take place on the BSE and NSE. 
7. European stocks rise as attention shifts to central bank meetings. 
8. The energy sector shines as the Australian market falls due to rate concerns. 
9. Nordea Bank disposes of 12.3 million treasury shares. 
10. Inflation in the United Kingdom will be the highest among major economies in 2023, according to the OECD. 
11. Arizona’s governor said the state is in advanced packaging talks with TSMC. 
12. Exclusive-UBS identifies South Korea, India, and other countries as’slow’ on Credit Suisse clearance. 
13. Google is making a last-ditch effort to reverse a $2.6 billion EU antitrust fine. 
14. Asia’s stocks fall as a result of China’s problems, while Japan catches up with the chip sell-off. 
15. As risks rise, Japan’s central bank will maintain support for the time being. 
16. 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. 
17. The RBA contemplated raising interest rates in September but wanted more time to evaluate previous increases. 
18. European markets are expected to fall significantly ahead of big central bank decisions. 
19. Country Garden’s yuan bond is extended – Bloomberg News 
20. Another dollar coupon deadline looms for China’s cash-strapped Country Garden. 
21. 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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