📈 Cuts Are Coming

Tiktok tries to block a ban, Buffet’s bad bet, Another Trump assassination attempt, United and Starlink give away wifi, All eyes on the Fed

Author

Evelio Silvera
September 16, 2024

Good morning.

⚡ The Fast Five → Tiktok tries to block a ban, Buffet’s bad bet, Another Trump assassination attempt, United and Starlink give away wifi, All eyes on the Fed

And now…

⏱️ Your 5-minute briefing for Monday, September 16, 2024:

MARKET BRIEF
Before the Open

As of market close 9/13/2024.

Pre-Market

  • Warner Bros. Discovery shares jumped nearly 11%, the best performer on the S&P 500 and the Nasdaq.

  • Boeing saw the steepest decline on the Dow and was among the worst S&P 500 performers, down 3.7%

Fear & Greed

*UP 0 pts

Trends

  • Stock futures, dollar steady after FBI says it is investigating another assassination attempt on Trump

  • Wall St Week Ahead: Size, speed of rate moves in focus as Fed poised to start cuts

WHAT WE’RE WATCHING
Events

  • Tues. Sept 17: Census Bureau - Core Retail Sales (Automotive), 8:30AM

  • Why You Should Care: It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity

Earnings Reports

  • Today: SunCar Technology, Ennis, IperionX

  • Monday: Ferguson, Apogee

MARKET BRIEF
Headlines

U.S. stock index futures were flat to slightly higher on Monday as caution prevailed ahead of a pivotal monetary policy decision by the Federal Reserve later in the week, with investors pricing in a steep reduction in borrowing costs.

TikTok and parent company ByteDance face a key court hearing on Monday in a legal battle seeking to block a law that could ban the app used by 170 million Americans as soon as January 19.

  • Second Trump assassination attempt in 65 days (link)

  • Short-term Treasury yields hit lowest in more than 2 years as Fed rate cut looms (link)

  • Warren Buffett $13B Bet On Occidental Petroleum Turns Sour As Shares Plunge 29% (link)

  • Astra Zeneca drug shows promise in extending bladder cancer patients' lives (link)

  • 23andMe Paying $30 Million to Settle Data Breach Suit (link)

  • United Airlines inks deal with SpaceX to provide free in-flight Wi-Fi through Starlink (link)

CRYPTO
Fear & Greed

*DOWN 12 pts

Headlines

  • Bitcoin, Ether Plunge 5% Ahead of Widely-Anticipated Fed Rate Cuts (link)

  • DeFi yields are set for a comeback amid likely US rate cuts (link)

  • Funding Roundup: a16z announces Crypto Startup Accelerator participants (link)

DAILY SHARE
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