US equities finished lower Wednesday, ending near worst levels in choppy post-FOMC trading, with the Dow Jones, S&P500, and Nasdaq closing down 25bps, 29bps, and 31bps respectively. Monetary policy pivot was the big story today with the Fed opting for a more aggressive 50 bp rate cut. While the Street seemed to largely be in the 25 bp camp, the market was leaning toward 50 bp. August housing starts and building permits both came in ahead of consensus.

US equities finished largely mixed in Tuesday trading. Another quiet session ahead of tomorrow's FOMC meeting. Today's August retail sales report was a bit stronger than expected whereas previews suggested a weaker report could have tipped the scales more conclusively toward a bigger cut. Fed pivot and economic soft landing still seen as the main driver of the bullish narrative. 

US equities finished mostly higher in Monday trading in a quiet session after stocks caught a big bounce last week. It was a largely uneventful session as the market waits for the Fed's rate-cut decision on Wednesday. In macro news, the New York Fed's Empire manufacturing survey for September unexpectedly flipped positive for first time since November 2023.

US equities ended higher this week with big tech leading the way on the heels of some positive AI momentum and amid oversold conditions, after the S&P 500 posted its worst performance last week since March of 2023, and the Nasdaq since January of 2022. The August CPI report was a big highlight of the week ahead of Wednesday's September FOMC meeting. August headline CPI was largely in line while monthly core was hotter, with shelter prices the significant component of the core rise, and airline fares higher after five months of declines.

US equities were higher in Thursday trading, ending near best levels. Stocks rallied amid today's modest ramp in 50 basis point rate cut odds after a media report that seemingly offered some additional support for an outsized move. In macro news, headline August PPI printed in-line but core PPI was a bit hotter than consensus, following yesterday's uptick in core CPI.

US equities were higher in Wednesday trading, ending at best levels as the market reversed some morning post-CPI weakness, with the Dow Jones, S&P500, and Nasdaq closing up 31bps, 107bps, and 217bps respectively. August headline CPI was largely in line, up +2.5% y/y, while monthly core was hotter with shelter prices the significant component of the core rise and airline fares higher after five months of declines. Today's $39B 10Y Treasury auction stopped through, following a strong 3-year note auction on Tuesday.

US equities were mostly higher in Tuesday trading, though ended near best levels after reversing midday weakness. Today also saw rotation back into tech/semis/AI trade following well received Oracle earnings. Some underwhelming banking sector updates, weak auto guidance out of Europe and softness in commodities. Next big catalysts are tonight's presidential debate and tomorrow's release of August CPI.

US equities were higher in Monday trading, though ended off best levels. It was a very quiet session with few catalysts as the market rebounds off of Friday's weakness but continues to wait for key catalysts ahead, namely the September 18th FOMC meeting. It was also a fairly light economic calendar today, which included August’s Manheim used car index.

US equities were lower this week with the S&P 500 posting its worst weekly performance since March 2023 and the Nasdaq’s since January 2022. Stocks were lower this week on growth worries, hawkish Fed rate cut repricing, and a shift toward "bad news is bad news" on soft economic data. Today's August payrolls was the big catalyst this week, following other soft data this week.

US equities finished mostly lower in Thursday trading but ended a bit off worst levels. It was an up-and-down session after today's mixed data, including a weak ADP print and better claims and ISM services, as the market continues to balance soft-landing hopes with questions about whether the Fed will opt for a 25 or 50 bp cut at its September 18th meeting. Friday brings the employment report, which is seen as a key input in this ongoing debate.

US equities were lower in Wednesday trading, ending just off worst levels, with the Dow Jones closing up 9bps, while the S&P and Nasdaq closed down 26bps and 30bps respectively. Growth worries in focus again following softer JOLTS job openings and some cautious Beige Book takeaways. Atlanta Fed's Bostic said Fed must not maintain restrictive stance for too long, giving equal weight to employment side of mandate.