Wall Street Takes a Breather After Record Rally; Key Earnings and Fed Outlook in Focus

Market Overview - U.S. equity markets opened lower on September 22, 2025, following a record-high closing last week, reflecting cautious sentiment ahead of key economic data and Federal Reserve commentary [1][2] - The S&P 500 dipped approximately 0.2%, while the Dow Jones Industrial Average fell by 169 to 228 points (0.37% to 0.5%), and the Nasdaq Composite eased back by 0.1% to 0.2% [2] Economic Indicators - The market's overall trajectory has been upward since hitting a bottom in April, driven by expectations of continued rate cuts from the Federal Reserve [3] - Investors are particularly focused on upcoming inflation data, including the Personal Consumption Expenditures (PCE) price index, which is expected to show a slight increase [5] Corporate Developments - Pfizer (PFE) announced its intent to acquire Metsera (MTSR) for $4.9 billion, leading to a 60% surge in Metsera's shares and a 1.5% increase in Pfizer's stock [6] - FedEx Corp. (FDX) shares advanced 2.3% after reporting strong first-quarter fiscal 2026 adjusted earnings [6] - Lennar Corp. (LEN) saw a 4.2% decline in shares after its third-quarter fiscal 2025 adjusted earnings fell short of estimates [6] - Newmont Corp. (NEM) shares surged 4.3% following the sale of its stake in Orla Mining [6] - Brighthouse Financial Inc. (BHF) shares jumped 27.2% amid acquisition talks with Aquarian Holdings [6] Technology Sector News - Oracle (ORCL) gained 4% following reports of discussions with Meta for a potential $20 billion cloud computing deal [10] - Oklo (OKLO) shares climbed 28% due to a substantial UK-US nuclear energy partnership valued at $350 billion [10] - Apple (AAPL) shares rose 3.2% after a J.P. Morgan upgrade and the global launch of its newest iPhone model [10] - Tesla (TSLA) added 2.2% following a positive upgrade from Baird [10]