Benzinga·2025-09-14 11:30Economic Overview - Wall Street is optimistic about potential Federal Reserve rate cuts, with traders expecting a 25 basis point cut on September 17 and further cuts in October and December [2] - August inflation rose to 2.9%, the highest since January, while jobless claims increased to 263,000, the worst since October 2021, indicating labor market challenges [1] Earnings Reports - Adobe Inc. reported third-quarter earnings of $5.31 per share, exceeding the analyst estimate of $5.18 [3] - Oracle Corporation's first-quarter earnings were $1.47 per share with revenue of $14.92 billion, both slightly below expectations [3] - Kroger Company reported second-quarter adjusted earnings per share of $1.04, beating the consensus estimate of 99 cents, but quarterly sales of $33.94 billion missed the consensus of $34.102 billion [3] - GameStop Corporation's second-quarter net sales reached $972.2 million, up from $798.3 million year-over-year, surpassing the consensus estimate of $823.2 million [4] Technology Sector - Apple Inc. faced market disappointment during the iPhone 17 launch event, with analysts suggesting that the upgrades felt incremental [5][7] - Microsoft Corporation is planning significant investments in proprietary AI chip infrastructure to achieve self-sufficiency in AI [5] - Microsoft has avoided a substantial antitrust penalty by agreeing to separate its Teams platform from its productivity applications [6] - Amazon.com, Inc. is developing augmented-reality glasses, entering a competitive space with Meta Platforms, Inc. and Apple Inc. [6] Artificial Intelligence Developments - OpenAI's CEO Sam Altman expressed concerns over ethical dilemmas related to AI, while the company aims for a $500 billion valuation [10] - Mercor, founded by Thiel Fellows, is pursuing a Series C funding round targeting a $10 billion valuation due to rising demand for AI training experts [11] Automotive Industry - Tesla, Inc.'s six-seater Model Y L is sold out in China, despite facing poor sales in other regions [12] - NIO Inc. plans to raise fresh capital through a sizable equity offering [12] - XPeng Inc. initiated a large recall of its P7+ electric sedan due to a potential steering-assist defect [12] - WeRide Inc. expanded into Belgium with the launch of its Robobus, marking its 11th global market [13]