September 16th Market Overview

In partnership with

Happy Monday everyone. It's a new week, and all eyes are on the Fed.

We're seeing a mixed bag today as markets pause for the big rate decision. The Dow's touching new highs, but tech's taking a breather. Energy and financials are stealing the pumping volume, Apple's feeling the heat from iPhone jitters.

Buckle up for some pre-FOMC choppiness.

Lets dig in…

Executive Summary

• Markets show mixed performance ahead of crucial Federal Reserve policy meeting

• Investors cautioned about choppy trading conditions before FOMC decision

• Mid-term investors advised to consider trimming positions in anticipation of potential post-FOMC dip

Market Overview

We’re seeing a cautious market today as investors brace for the Federal Reserve’s highly anticipated policy meeting. The S&P 500 is hovering near the flatline, while the Dow has touched a new all-time high. The Nasdaq is down 0.6%, reflecting some profit-taking in the tech sector.

Key Market Drivers

1. Federal Reserve Meeting: The Fed is set to meet Tuesday and Wednesday, with expectations of the first rate cut since 2020.

2. Rate Cut Expectations: Markets are pricing in a 59% possibility of a 50 basis point rate cut.

3. Sector Rotation: We’re observing a shift from technology stocks to financials and energy sectors.

4. New York Manufacturing: The Empire State Manufacturing Survey showed a surprising positive move, posting a reading of 11.5 for September.

Stock Spotlight

1. $AAPL: Down nearly 3% due to concerns about lighter demand for iPhone 16 Pro models.

2. $NVDA: Fell 2.8% as investors take profits from recent AI-driven gains.

3. $BA: Slipped more than 1% after announcing a hiring freeze and cost-cutting measures.

4. $INTC: Led Dow gains with a 3.6% jump, outperforming other chip stocks.

5. $UBER: Analysts speculate on potential future partnership with $TSLA for autonomous vehicles.

Other Magnificent 7 Updates

• $AMZN: Announced a return to five-day in-person work week for employees starting next year.

• Semiconductor stocks, including $NVDA, $AVGO, and $MRVL, are facing pressure as investors reassess AI bets.

Other Notable Company News

• $NVT: Shares soared over 22% after positive data on two experimental cancer treatments.

• $BLCO: Rallied 13.9% on reports of considering a sale, working with Goldman Sachs advisors.

• $AA: Jumped more than 7% after agreeing to sell its stake in the Ma’aden joint venture for $1.1 billion.

• Oil services stocks outperforming, with $RIG, $PUMP, $NE, and $OII leading the gains.

Sector Watch

Bond Market

The bond market is showing signs of caution ahead of the Fed meeting. The market is closely watching for signals about the pace and extent of future rate cuts. The dollar has reached its lowest level against the yen since July 2023, reflecting expectations of rate cuts.

Policy Watch

A rate cut would be a pivotal move, potentially lowering borrowing costs for companies and improving overall earnings growth. However, a larger-than-expected cut could spark concerns about economic strength and growth prospects. We’re also seeing the impact of potential rate cuts on the dollar, which has weakened against several major currencies.

P.S. Any “clicks” to our sponsor allows me to drink good coffee in the morning. Please consider clicking through and checking out sponsors even if you don’t think you want to buy or subscribe from them :-)

- JB

Today’s Sponsor - appreciation on fractional shares of…..whiskey barrels? This company is awesome.

Unique Investment Opportunity: Whiskey Casks

Here’s an investment opportunity you didn’t know you were missing - whiskey casks.

But where to start?

Try Vinovest.

Vinovest differentiates its whiskey investing platform through strategic sourcing and market analysis. With Vinovest, you can invest in Scotch, American, and Irish whiskey casks, providing diverse and flexible exit options.

Vinovest team targets high-growth markets and caters to a range of buyers, from collectors to brands using casks for cocktails. This approach not only enhances your liquidity but also increases your portfolio’s resilience against market fluctuations. Discover how Vinovest’s innovative strategy sets it apart from competitors.

Schedule a call with a Vinovest advisor to learn more.

Note: This newsletter is intended for informational purposes only.