The Economic Timesยท2025-09-22 14:34Federal Reserve and Economic Indicators - Stephen Miran, the new Fed governor, will speak in New York, with Fed Chair Jerome Powell following on Tuesday, as markets await key inflation data on Friday [1][12] - A weak Personal Consumption Expenditures (PCE) report could increase the likelihood of another quarter-point rate cut in October, with Wall Street expecting September's PCE to show soft inflation [2][12] Gold and Cryptocurrency Market - Gold prices reached an all-time high of $3,750, driven by expectations of further Fed rate cuts before the end of 2025, while Bitcoin and other cryptocurrencies experienced significant declines, resulting in over $1.5 billion in losses for traders [3][11][12] Oracle Corporation Developments - Oracle's stock fell over 1% following the announcement of CEO Safra Catz's resignation, with the company appointing two new co-CEOs, Clay Magouyrk and Mike Sicilia, as part of a succession plan [5][13] - Earlier, Oracle shares rose due to news that the company will manage TikTok's algorithm in the US and store American user data, which is expected to positively impact Oracle's revenue from TikTok [7][13] Pfizer Acquisition - Pfizer announced its acquisition of Metsera, a weight-loss drug company, for $7.3 billion, with Metsera's stock soaring over 60% in premarket trading following the news [8][13] - Under the agreement, Pfizer will pay $47.50 per share for Metsera, valuing the company at $4.9 billion, with potential additional payments based on clinical and regulatory milestones [9][13] Market Sentiment and Upcoming Reports - Investors are closely monitoring Micron Technology's earnings report for insights into AI chip demand and Costco's results for consumer spending trends, alongside the University of Michigan's consumer sentiment index due Friday [10][13]