Top 10 things to watch Monday, Sept. 23
1. Stocks are looking slightly higher Monday. It’s big week of earnings with Micron, Jefferies and Club name Costco scheduled to report. On the data side, the key event is the PCE price index, the Fed’s favorite inflation gauge. The Dow, the S&P 500 and the Nasdaq surged last week on the Fed’s first interest rate cut. And, after a rocky start to historically troublesome September, all three benchmarks are higher for the month.
2. Intel M&A rumors are swirling with Qualcomm reportedly interested in a friendly takeover and Apollo Global Management reportedly willing to make a $5 billion equity investment in the chipmaker. The Intel drama and the broader chip and accelerated computing landscape are among Jim Cramer’s takeaways from his San Francisco trip that reveal the AI stock winners.
3. Ulta Beauty was downgraded to hold from buy at TD Cowen on slowing same-store sales, also referred to as comps in the retail industry, and increased promotional activity.
