Morning Brief

US stocks rebound after a rare pullback, with futures pointing higher ahead of the Federal Reserve’s September meeting minutes. Gold surges past $4,000 an ounce for the first time as billionaire investor Ray Dalio calls it a stronger haven than the dollar, citing echoes of the 1970s inflation era. Nvidia (NVDA) reportedly invests up to $2B in Elon Musk’s xAI as the startup raises $20B to fund its...

US stocks rise to new records as OpenAI and AMD (AMD) announce a massive AI computing partnership that includes OpenAI taking a 10% stake in the chipmaker. The deal cements AMD’s position as Nvidia’s (NVDA) top challenger in the race for AI dominance, with OpenAI agreeing to purchase six gigawatts of AMD’s Instinct GPUs over several years. Fifth Third Bancorp (FITB) will acquire Comerica (CMA) in...

US stocks edge higher as Wall Street extends its record run despite the government shutdown entering day three. Economic data remains frozen, with the September jobs report delayed, but investors continue to ride the AI wave as Nvidia (NVDA) and OpenAI unveil new partnerships. President Trump is reportedly preparing a $10B bailout package for US farmers hit by China tariffs, with soybean producers...

Tech stocks powered futures higher after OpenAI’s valuation jumped to $500B in a secondary share sale, igniting fresh momentum in AI names. Nvidia (NVDA), AMD (AMD), Intel (INTC), and Qualcomm (QCOM) all rallied, while Samsung and SK Hynix surged in Asia on news that they signed supply deals with OpenAI. The US government shutdown entered its second day with no resolution as President Trump threat...

The US government has officially shut down after lawmakers failed to reach a funding deal, furloughing 750,000 workers and risking delays to jobs and inflation data critical for the Fed’s next moves. Markets opened Q4 lower, with futures and the dollar slipping while gold rallies toward $3,900 an ounce. ADP private payrolls fell 32,000, deepening concerns about a weakening labor market as investor...

US stocks edge lower on the final trading day of Q3, with the S&P 500 (^GSPC) heading for its best September since 2010. According to Washington watchers, investors brace for a potential government shutdown as talks stall in Congress, with odds now above 90%. A shutdown would delay key economic data, furlough hundreds of thousands of workers, and risk disrupting the Fed’s October meeting. Presiden...

US stocks open the week higher as investors brace for a potential government shutdown if Congress fails to pass a short-term funding bill by tomorrow night. A shutdown could delay key economic reports, including Friday’s jobs data, and the Trump administration has threatened permanent layoffs for federal workers. Electronic Arts (EA) agreed to go private in a $55B leveraged buyout, the largest LBO...

US stocks edge higher after three straight down sessions as investors digest fresh tariffs, inflation data, and Fed commentary. President Trump announced sweeping new tariffs set to begin October 1: a 50% duty on heavy trucks and kitchen cabinets, and a 30% tariff on upholstered furniture. Pharmaceutical companies were spared if they build plants in the US, with Eli Lilly (LLY), Johnson & Johnson...

US stocks fall for a third straight day as the summer rally cools, even after revised Q2 GDP showed the US economy grew 3.8% — the fastest pace in nearly two years. Weekly jobless claims also came in below estimates, underscoring resilience in consumer spending and the labor market. The Trump administration launched new national security investigations into imports of robotics, industrial machiner...

US stocks rebound after Tuesday’s dip, with Micron (MU) and Alibaba (BABA) driving AI optimism. Micron posted strong results and an upbeat outlook, saying trillions will be invested in AI and memory chips will capture a significant share, prompting multiple Wall Street upgrades. Alibaba surged to a four-year high after pledging to boost AI spending above $50B and launching a new language model whi...

US stocks search for direction after another record close, with futures flat ahead of Fed Chair Jerome Powell’s first remarks since last week’s rate cut. Nvidia (NVDA) confirms plans to invest $100B in OpenAI to build out 10 gigawatts of AI infrastructure, the largest AI project to date. Analysts call it both a bold growth bet and a sign OpenAI may be stretching its finances. The deal lifts chip p...

US stocks pull back from record highs as investors await Fed commentary and key inflation data later this week. Gold hits fresh records while bitcoin retreats. Oracle (ORCL) announces a leadership transition, with CEO Safra Catz moving to executive vice chair and Clay Magouyrk and Mike Sicilia named co-CEOs. The shuffle comes after Oracle’s blowout cloud forecast and major AI deals. Big Tech also...

US stocks hover near all-time highs after the Fed’s first rate cut of 2025, with the Russell 2000 (^RUT) closing at a record for the first time since 2021. President Trump and China’s Xi Jinping are holding a high-stakes call on TikTok’s US future, tariffs, and broader trade. Oracle (ORCL) is expected to lead a consortium to run TikTok’s US arm, while Beijing escalates pressure on Nvidia (NVDA) wi...

Intel (INTC) shares surge after Nvidia (NVDA) unveils a $5B investment and chip collaboration, making it one of Intel’s largest shareholders. The move gives Nvidia optionality in PCs and data centers while boosting Intel’s turnaround hopes. Markets also digest the Fed’s quarter-point cut and dot plot signaling two more cuts this year, with Chair Powell calling it a “risk management” move as labor...

US stocks hold steady ahead of the Fed’s 2 p.m. ET decision, with a 25 bp rate cut widely expected — the first since 2024. Markets are also bracing for Chair Jerome Powell’s press conference and the updated dot plot as traders price in up to six cuts over the next year. The Financial Times reports China has ordered companies including Alibaba (BABA) and TikTok parent ByteDance to cancel orders for...

US stocks look to extend record gains as the Fed kicks off its two-day policy meeting, with a 25 bp rate cut widely expected. Newly confirmed Fed Governor Steven Myron joined the board, while a federal court blocked President Trump’s attempt to remove Governor Lisa Cook ahead of the decision. August retail sales rose 0.6%, topping estimates as back-to-school shopping boosted apparel and online sal...

US stocks edge higher ahead of the Fed’s policy meeting this week, with a quarter-point cut expected Wednesday. President Trump continues to pressure the central bank while seeking to oust Fed Governor Lisa Cook, and the Senate votes on Fed nominee Steven Myron today. Elon Musk discloses a $1B open-market purchase of Tesla (TSLA) shares, his largest insider buy ever, lifting the stock. Trade talks...

US inflation came in slightly hotter than expected in August, with headline CPI up 0.4% month over month and core CPI up 0.3%, keeping annual inflation at 2.9% headline and 3.1% core. The data underscores sticky price pressures in services and shelter, while food and apparel show tariff-driven gains. Still, markets expect the Fed to cut rates by 25 basis points next week as jobless claims hit a fo...

US stocks push higher with the S&P 500 and Nasdaq at record highs after Oracle (ORCL) surges more than 30% on blowout AI-driven cloud guidance, adding $200B+ to its market cap overnight. Wall Street strategists rush to lift forecasts: Deutsche Bank raises its year-end S&P 500 target to 7,000, Barclays hikes to 6,450, and Wells Fargo sees double-digit gains into 2026. Inflation data adds fuel as th...

US stocks edge higher with the Nasdaq (^IXIC) at a record as investors await revised jobs data and key inflation reports later this week. Apple (AAPL) headlines with its iPhone 17 launch event, unveiling a thinner “Air” model alongside new Apple Watches and AirPods, while analysts debate pricing and AI features. Oracle (ORCL) reports earnings after the bell, facing high expectations following a $3...

A weaker-than-expected August jobs report cements expectations for a September Fed rate cut, with just 22,000 jobs added versus forecasts for 75,000. Bond yields tumble, the dollar sinks, and gold rallies to record highs as traders weigh the labor market slowdown. Broadcom (AVGO) jumps after topping estimates and revealing a $10B custom chip deal with a new client, while President Trump warns of “...

Google parent Alphabet (GOOG) rallies after a judge ruled it will not have to divest Chrome in the DOJ’s antitrust case, though the company must end exclusive search deals. The decision also lifted Apple (AAPL), which benefits from its search partnership while gaining room to work with AI rivals. US bond yields climb, with the 30-year brushing 5% amid inflation, deficit, and geopolitical concerns....

US stocks open the month lower after August gains, with September historically the weakest month for equities. Gold prices hit a record as investors seek safety amid tariff uncertainty, after a federal appeals court struck down most of President Trump’s trade levies — a case now likely headed to the Supreme Court. Kraft Heinz (KHC) announces plans to split into two companies: Global Taste Elevatio...

US stock futures dip after the Fed’s preferred inflation gauge, core PCE, rose 2.9% year over year — in line with estimates but still above the central bank’s 2% target. Fed Governor Christopher Waller backed a September rate cut and signaled more easing ahead. Fed Governor Lisa Cook faces a court hearing today as she fights President Trump’s attempt to oust her over mortgage fraud allegations. Ma...

Nvidia (NVDA) stock edged lower after reporting record Q2 earnings but softer-than-expected data center revenue, signaling growth may moderate after a massive AI-driven boom. CEO Jensen Huang told Yahoo Finance that demand remains strong even without China sales, but investors are parsing export risks and new product outlooks. US stocks hold steady after GDP was revised up to 3.3%, with PCE inflat...