Trump to attend meeting top generals on Tuesday Washington Post

Trump: real possibility for success in Middle East with Truth Social

Trump posts a picture of himself firing Fed Chair Powell.

Trump says he is directing Secretary of War to send US Troops to Portland, Oregon.

The Trump Administration considers tariffs on foreign electronic devices based on the number of chips in each device

Largest Stock Valuations December 1999 vs. Now

White House: The latest pharmaceuticals tariffs don't apply to countries with negotiated trade deals.

Tylenol maker Kenvue has now lost one-third of its value in 2 months. That’s -$15 billion in market cap.

Trump issues a statement instructing pregnant to not use Tylenol “unless absolutely necessary.” He also provides his advice on various vaccines for children.

Trump issues a statement instructing pregnant to not use Tylenol “unless absolutely necessary.” He also provides his advice on various vaccines for children.

US stocks snapped a 3-day skid, S&P 500 +0.6%, Nasdaq 100 +0.3% after PCE inflation rose just 0.2% in Aug (YoY steady at 2.9%). Relief as data wasn’t hotter than feared keeping Fed cut bets alive ahead of Oct FOMC.

University Michigan Sentiment Final Actual 55.1 (Forecast 55.4, Previous 55.4) University Michigan 1 Yr Inflation Final Actual 4.7% (Forecast 4.8%, Previous 4.8%) University Michigan 5 Yr Inflation Final Actual 3.7% (Forecast 3.9%, Previous 3.9%)

Trump: The economic numbers are great.

MOO Imbalance S&P 500: +269 mln Nasdaq 100: -16 mln Dow 30: +22 mln Mag 7: -3 mln

Market-based core PCE inflation is an even better measure of underlying trend (it takes out food, energy, and most imputations). It's running 2.59%, still meaningfully above target.

August PCE #inflation +2.7% year/year vs. +2.7% est. & +2.6% prior … core PCE +2.9% vs. +2.9% est. & +2.9% prior

Three-day decline after an all-time high

August PCE #inflation +0.3% month/month vs. +0.3% est. & +0.2% prior … core PCE +0.2% vs. +0.2% est. & +0.2% prior

US PCE Price Index YoY Actual 2.7% (Forecast 2.7%, Previous 2.6%) US Core PCE Price Index YoY Actual 2.9% (Forecast 2.9%, Previous 2.9%)

Trump Trade Adviser Navarro: Pharma tariff is part of broader strategy.

Existing home sales growth remains sluggish in year/year terms … still positive as of August but only at +1.8%

History of gold

Former FBI Director James Comey has been indicted just days after President Trump demanded the DOJ to act "now" to prosecute him.

Trump announces a 25% tariff on imported heavy trucks.

Trump says he would cut rates to 2% if it weren't for "too late Powell" and calls Fed Chair Powell "incompetent."

Trump announces a 100% tariff on pharmaceutical products unless a company “is building their pharmaceutical manufacturing plant in America.”

Trump: Very soon, we're going into Chicago.

Trump: There could be a government shutdown over democrats.

Trump: I don't feel guilty that the market was down today. Trump: We should have low interest rates along with great economic data. US Treasury Secretary Bessent: I think we can get the stock market up.

MOC Imbalance S&P 500: -191 mln Nasdaq 100: +17 mln Dow 30: -3 mln Mag 7: +162 mln

The EU plans tariffs of 25-50% on Chinese steel and related products - Handelsblatt.

Intel has approached TSMC about investments or manufacturing partnerships - WSJ

Oracle, Silver Lake, and MGX would each take a roughly 15% stake in the new TikTok US.

European diplomats warn Russia that NATO is ready to shoot down Russian aircrafts that violate NATO airspace, per Bloomberg.

Google set to be hit with second fine under landmark EU rules in the coming months. EU not rushing the decision due to US trade tensions and criticism

November has never been lower when the S&P 500 was higher in May, June, July, August, and September. But October and December are down on average. Something for everyone.

Ex-Fed and Treasury Officials, including Bernanke, Greenspan, Summers, and Paulson sign Amicus brief in backing Fed's Cook in Supreme Court job fight.

The Nasdaq falls -1.3% at the open and is now on track for its first 3-day losing streak since August 21st. ALL signs pointed to an overdue pullback after one of the best 5-month runs in stock market history.

MOO Imbalance S&P 500: -218 mln Nasdaq 100: +5 mln Dow 30: -12 mln Mag 7: +1 mln

Here's the progression of second-quarter real GDP (q/q annualized): First read: +3% Second: +3.3% Third: +3.8%

Consumer spending revised up in the second quarter from +1.6% to +2.5% ... the estimate was for +1.7%

US GDP QoQ Final Actual 3.8% (Forecast 3.3%, Previous 3.3%) US Core PCE Prices Final Actual 2.6% (Forecast 2.5%, Previous 2.5%)

US Deployed jets against Russian bombers - CNN Deployed four F-16 fighter jets, a surveillance aircraft, and four tankers to intercept Russian bombers and fighter jets that flew into Alaska’s air defense identification zone - North American Aerospace Defense Command

Hasset: We Have Made Enormous Amount Of Progress On China Trade Talks But Still Work To Do - Fox - We Care Very Much That China Has Stopped Buying Our Agricultural Products

S&P 500's forward profit margin has been rising sharply and is at a new all-time high

US stock market futures extend 3-day losses to -2% after Fed Chair Powell pushes back on rate cut hopes.

P/E for 50 largest names in S&P 500 has surged this year … from a low of 23 to 31.9 now

SAP probed by EU over support for business management software EU: SAP could offer commitments to remedy its concerns

SAP probed by EU over support for business management software

Without tech spending, the US would have been close to, or in, a recession earlier this year: DB's Saravelos. "Perhaps Nvidia, which employed only 36,000 people at the last update earlier this year, holds the keys to all global macro in 2026:"