S&P 500 and Nasdaq 100 Post Record Highs on Fed Easing Expectations

Market Overview - The S&P 500 and Nasdaq 100 have reached new all-time highs, supported by falling bond yields and expectations of a 25 basis point interest rate cut by the Federal Reserve [2][5] - Major US stock indexes, including the S&P 500, Dow Jones, and Nasdaq 100, continue to post record highs due to expectations of Fed interest rate cuts [5] Economic Indicators - The September Empire manufacturing survey showed a significant decline in general business conditions, falling -20.6 to a three-month low of -8.7, which was weaker than the expected 5.0 [4] - China's August industrial production rose +5.2% year-on-year, below expectations of +5.6%, while retail sales increased +3.4% year-on-year, also weaker than the expected +3.8% [6] Company Performance - Tesla's stock rose more than +5% after Elon Musk purchased nearly $1 billion in shares, leading gains in megacap technology stocks [2][14] - Nvidia's stock fell more than -1% after a ruling from China that the company violated anti-monopoly laws related to its acquisition of Mellanox Technologies [3][18] - Texas Instruments saw a decline of more than -2% following news of an anti-dumping investigation by China targeting its semiconductor products [3][17] Upcoming Economic Events - The FOMC meeting is anticipated to result in a 25 basis point rate cut, with markets pricing in a 100% chance of this outcome [8] - Upcoming economic data includes expected increases in August retail sales and a decline in manufacturing production [7]