S&P 500 – 6,606.76 (-0.13%)

Dow Jones – 45,757.90 (-0.27%)

NASDAQ – 22,333.96 (-0.066%)

• Markets on Edge Ahead of Fed Decision: Investors are cautious as the Federal Reserve’s September rate decision looms, with stocks slightly pulling back from record highs. Key indices: S&P 500 6,606.76 (-0.13%), Dow Jones 45,757.90 (-0.27%), Nasdaq 22,333.96 (-0.066%).
• Fed Cut Hopes: Investors expect the Federal Reserve to cut interest rates by at least 25 basis points on Wednesday following its two-day policy meeting, potentially spurring demand from increased economic activity.
• Tesla Surges After Musk $1B Insider Purchase: Tesla shares jumped up to 8% after CEO Elon Musk disclosed a $1 billion stock buy, signaling confidence in the company’s autonomous vehicle and humanoid robot ambitions. The move capped a strong rebound, putting Tesla back in positive territory for 2025.
• Oracle Rises on TikTok-China Deal Optimism: Oracle climbed 3.15% as progress on a potential TikTok agreement with China bolstered investor sentiment, with ByteDance expected to retain no more than a 20% stake under a U.S.-based consortium.
• Tik-Tok Extension: President Donald Trump has extended the deadline for ByteDance Ltd., TikTok’s Chinese parent company, to sell its U.S. operations to Dec. 16, preventing an immediate nationwide shutdown of the popular video-sharing app. The extension follows recent U.S.-China negotiations that produced a framework agreement for the deal.
• Alphabet Hits $3 Trillion Market Cap: Alphabet became the fourth U.S. company to reach a $3 trillion market capitalization, fueled by strong AI (Gemini models) and cloud performance, while regulatory scrutiny and competition remain key considerations.
• Hims & Hers Shares Drop After FDA Warning: Hims & Hers stock fell 7% following a public FDA warning over misleading marketing claims for its semaglutide products, highlighting regulatory pressures in the telehealth sector.
• Novo Nordisk Gains on Obesity Drug Plans: Shares of Novo Nordisk rose 2% after announcing plans to seek U.S. approval for a high-dose Wegovy injection, alongside positive Phase 3 trial data for its next-generation weight-loss drug cagrilintide.
• Gold Hits New Records: Gold prices surpassed $3,700 an ounce for the first time, continuing an upward trend amid global market volatility.
• Global Bonds and U.S. Dollar Movement: Long-dated bonds experienced a moderate sell-off, while U.S. Treasuries held steady and the 10-year yield remained unchanged; the dollar softened against major currencies.
• Stephen Miran Confirmed to Fed: The Senate confirmed Stephen Miran 48-47 to the Federal Reserve, positioning him to vote on upcoming interest rate decisions.
• WTI Crude Rises on Geopolitical Tensions: Crude oil prices advanced due to Ukrainian drone strikes on Russian refineries and potential new sanctions on Russian exports.
• Retail Sales Beat Expectations: U.S. retail sales increased 0.6% in August, exceeding the expected 0.2%, signaling resilient consumer spending despite labor market pressures.
• Microsoft $30B UK Investment: Microsoft plans to invest more than $30 billion in UK operations and AI infrastructure over the next four years, ahead of President Trump’s state visit.
• Corporate Movers:
  • CoreWeave (CRWV): Up after Nvidia placed a $6.3B cloud order.
  • Dave & Buster’s (PLAY): Fell after missing earnings and revenue expectations.
  • Seagate (STX): Rose on volume after a price target increase.
  • Hershey (HSY): Up after Goldman Sachs upgraded to Buy.
  • Live Nation (LYV): Slight dip amid FTC investigation into bots.
  • Alaska Air (ALK): Down on profit warning due to rising fuel costs.
  • Ralph Lauren (RL): Declined after a disappointing three-year financial outlook.

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President's Trump's latest idea to scrap quarterly earnings in favor of semi-annual reports is stirring debate across corporate America.

"I think I'd be OK either way," Okta CEO Todd McKinnon said on Yahoo Finance's Opening Bid. "I do like the opportunity to talk to investors every quarter about the business and the future and the vision of what we're trying to do."

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Notable Stocks

• Orla Mining, Ltd. (ORLA)
• Meta Platforms (META)
• Oracle (ORCL)
• Alphabet (GOOG, GOOGL)
• Warner Bros. Discovery (WBD)

Weekly Notables

U.S. Retail Spending Defies Slow Labor Market, Boosted by Online and Back-to-School Sales

U.S. retail sales in August exceeded expectations, signaling that consumer spending remains resilient even amid a softening labor market and ongoing inflation pressures. Overall retail sales rose 0.6% for the month, well above economists’ forecast of 0.2%. Back-to-school shopping drove growth across multiple sectors: electronics and appliance stores saw a modest 0.3% increase, clothing and accessory stores rose 1%, and sporting goods, hobby, musical instrument, and book stores grew 0.8%. Online and nonstore retailers continued to capture strong consumer interest, posting a 2% gain for the month.

Trump Sues New York Times and Penguin Random House for $15 Billion Over Alleged Defamation

Former President Donald Trump has filed a $15 billion defamation lawsuit against The New York Times Co. and Penguin Random House LLC, alleging the media outlets acted as “mouthpieces” for the Democratic Party and caused significant harm to his reputation and personal brand. The complaint, submitted Monday in federal court in Tampa, Florida, cites three Times articles and a 2024 book from Penguin Random House, claiming they were part of a “decades-long pattern of intentional and malicious defamation” aimed at Trump in the lead-up to the 2024 election.

Earnings Spotlight: Fedex (FDX)

FedEx's Q1 2026 earnings are scheduled for September 18, 2025, with a conference call at 5:30 PM ET. The company is undergoing significant transformation, including achieving its $4 billion DRIVE cost reduction target and planning a separation of its Freight division. For Q1 2026, FedEx forecasts flat to 2% year-over-year revenue growth and adjusted earnings per share between $3.40 and $4.00, slightly below analyst expectations, amidst concerns about global trade impacting international exports.