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The S&P 500 Index ($SPX) is up +0.17% while the Dow Jones Industrial Index ($DOWI) is down -0.23% as of today. The Nasdaq 100 Index ($IUXX) shows a gain of +0.58%. Key market movements include a fall in the 10-year T-note yield to a 5-month low of 4.05%, with financial markets fully pricing in a 25 basis point rate cut by the Federal Reserve at the upcoming FOMC meeting on September 16-17.
This week, critical economic indicators will be released, including the August Consumer Price Index (CPI) and Producer Price Index (PPI). The CPI is expected to rise to +2.9% year-over-year, and the PPI is expected to remain stable at +3.3% year-over-year. In light of weaker-than-expected international trade data from China, where August exports rose +4.4% compared to an expectation of +5.5%, concerns about global growth persist.
In stock movements, Nvidia (NVDA) and Meta Platforms (META) are both up more than +2%. Broadcom (AVGO) gained over +4% following news of a partnership with OpenAI. Conversely, telecommunication stocks such as T-Mobile US (TMUS) are down over -4%, attributed to SpaceX’s agreement to purchase wireless spectrum from EchoStar for approximately $17 billion.
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