Wall Street brushed off September seasonality, at least for one week. Despite mounting signs of a wobbly labor market, the Dow, S&P 500, and Nasdaq all nabbed intra-week record highs. Ahead of the Federal Reserve's policy meeting next week, inflation data solidified the chances of an interest rate cut. And while profit taking took some late-week luster out of the rally, all three major indexes locked up comfortably weekly wins.
Tech Titans on the Move
Tons of intriguing tech stocks made the news this week. The big story of the tech sector was Oracle (ORCL), but Nebius Group (NBIS) also turned heads with an AI deal. Broadcom (AVGO) is flashing a bullish combination on the charts, while AppLovin (APP) is rewarded with an S&P 500 nod for its torrid run.
Options traders are scooping up Bitcoin (BTC) holder Strategy (MSTR), while retail trader favorite Opendoor (OPEN) undergoes a C-suite shakeup. Elsewhere around tech, Apple's (AAPL) traditional iPhone reveal made for a volatile reaction on the charts, and the fintech sector just got a little more crowded.
In Other News
Gold prices swelled to more record highs this week, and this is your reminder to always keep an eye on gold mining stocks when that happens. Satellite stocks are another sector to monitor, while one analyst turned bullish on FedEx and UPS. Lithium batteries took a leap forward with QuantumScape (QS)
Looking Ahead
All eyes are on Fed Chair Jerome Powell, but don't forget about Micron (MU) earnings. In addition to central bank drama, there will also be triple witching next Friday, and our quantitative team has you ready with a historical study.
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