Week in review: How we navigated the strong market ahead of the big Fed meeting

Market Overview - The stock market experienced significant gains, with the S&P 500 rising 1.6% and the Nasdaq increasing by 2% for the week, driven by speculation on the Federal Reserve's interest rate decision and strong earnings from Oracle [1] - Oracle's fiscal 2026 first quarter report showed a remarkable 359% increase in remaining performance obligations compared to the previous year, leading to a nearly 36% surge in its stock price [1] - The Nasdaq closed at a record high, while the S&P 500 reached new intra-day highs before finishing slightly lower [1] Economic Data - The Producer Price Index (PPI) fell by 0.1% in August, contrary to expectations of a 0.3% increase, boosting investor confidence in a potential interest rate cut [1] - Conversely, the Consumer Price Index (CPI) rose by 0.4% in August, the largest gain since January, which complicated the outlook for policymakers [1] - Weekly jobless claims reached their highest level in almost four years, indicating potential softness in the U.S. labor market [1] Company Highlights - Boeing was a focus for the investment club, with two purchases made during the week, targeting a price of $275 per share, representing a 27% upside from the previous close [1] - Wells Fargo reported a significant increase in share repurchases, totaling $5.5 billion for the quarter, indicating management's positive outlook on capital levels and earnings [1] - GE Vernova's stock declined by 1.5% following mixed remarks from its CEO regarding onshore wind orders and projected revenue declines in 2026 [1][2] Technology Sector - Nvidia and Broadcom shares rose by 4% and 10% respectively, driven by Oracle's strong cloud backlog, indicating continued demand for AI infrastructure [1] - Apple's refreshed iPhone 17 lineup was met with a lukewarm reception, with shares falling 1.5% on the announcement day and 2.3% for the week, as investors sought more substantial updates on the company's AI strategy [2]