US stock futures struggled on Monday to revive a rally stalled by doubts about interest-rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report. Nasdaq 100 futures (NQ=F) fell roughly 0.3%, while those on the S&P 500 (ES=F) dipped around 0.2%. Contracts on the Dow Jones Industrial Average (YM=F) also traded around 0.2% lower. Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But th ...

US stocks wavered on Monday amid doubts about interest rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report. The tech-heavy Nasdaq Composite (^IXIC) rose 0.25%, while the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) traded roughly flat. The three indexes had fallen at the market open. Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But the stakes are even higher ...

Core Viewpoint - The U.S. stock market showed resilience despite global market weaknesses, with the S&P 500 recovering losses aided by bargain hunters, while concerns about inflation and the Federal Reserve's stance on interest rates influenced market sentiment [1][14]. Market Performance - The Dow Jones Industrial Average fell by 309.74 points (0.65%) to 47,147.48 but recorded a weekly gain of 0.3% [8] - The S&P 500 decreased by 3.38 points (0.05%) to 6,734.11, resulting in a weekly gain of 0.1% [8] - The Nasdaq Composite rose by 30.23 points (0.13%) to 22,900.59, ending the week with a loss of approximately 0.5% [8] - MSCI's global equities gauge declined by 4.37 points (0.44%) to 995.79, indicating a weekly gain of around 0.4% [8] Federal Reserve Insights - Federal Reserve officials expressed concerns about persistent inflation, with Kansas City Fed President Jeffrey Schmid highlighting that inflation issues extend beyond tariffs, indicating potential dissent regarding future rate cuts [2][14] - Dallas Fed President Lorie Logan opposed a December rate cut, citing high inflation as a concern [2][14] - Following comments from Fed officials, traders adjusted expectations for a quarter-point rate cut next month to a 46% probability, down from 66.9% the previous week [5][14] Sector-Specific Developments - The technology sector showed some recovery, with Nvidia, a leader in AI chips, increasing by 1.8%, while the smaller cap S&P 600 technology index closed up 0.3% [6][14] - Upcoming quarterly earnings reports from Nvidia and major retailers are anticipated to provide insights into consumer health and AI demand [6][14] Global Market Trends - European markets, including the pan-European STOXX 600 index and FTSEurofirst 300 index, closed down about 1% [9][14] - Asian shares outside Japan fell by 1.5% before U.S. markets opened [10][14] Currency and Commodity Movements - The dollar index rose by 0.02% to 99.26, with the euro down 0.08% at $1.1622, while the Japanese yen strengthened slightly against the dollar [11][14] - Oil prices increased due to supply concerns, with U.S. crude rising by 2.39% to $60.09 per barrel and Brent crude up by 2.19% to $64.39 per barrel [13][15] - Gold prices fell following hawkish remarks from Fed officials, with spot gold down 2.12% to $4,082.76 per ounce [13][15]

Core Viewpoint - Attention is focused on the timing of key data releases due to a series of delays, leading to investor uncertainty regarding potential interest rate cuts by the Federal Reserve next month [1] Group 1 - Investors are uncertain about the Federal Reserve's decision on interest rate cuts [1]

Market Overview - U.S. stock markets faced a significant downturn on November 13, 2025, marking one of the worst trading days since April, driven by concerns over high valuations of AI-related stocks and skepticism regarding the Federal Reserve's interest rate cuts [1][10] - Major indexes closed sharply lower, with the Nasdaq Composite dropping 2.3%, the S&P 500 falling 1.7%, and the Dow Jones Industrial Average shedding approximately 797 points, or 1.7% [2][10] Sector Performance - The negative sentiment was largely due to a rotation out of high-flying technology and AI stocks, as investors questioned the sustainability of their rapid gains, leading to a shift towards more defensive market areas [3] - Treasury yields increased, adding pressure to stock valuations, particularly for growth-oriented companies [3] Company-Specific News - Nvidia (NVDA) was a major drag on the market, with shares falling between 3.6% and 4.2%, as investor scrutiny over its valuation increased [5] - Tesla (TSLA) shares declined nearly 7% due to a steep year-over-year sales decline in China, highlighting competition and demand challenges [5] - The Walt Disney Co. (DIS) saw its shares tumble between 7.8% and 8.9% after missing quarterly sales forecasts, despite exceeding profit expectations [5] - Alphabet (GOOGL) experienced a notable drop of 2.3% amid the broader tech sell-off [5] - Cisco Systems (CSCO) rose 4.5% after boosting its full-year profit and revenue forecasts, driven by strong demand for networking equipment [5] - Sealed Air (SEE) shares soared between 16% and 19.6% following reports of a potential take-private deal [5] - Verizon Communications (VZ) shares rose 0.7% on plans to cut approximately 15,000 jobs for cost optimization [5] - Other AI-related stocks faced declines, including Super Micro Computer (SMCI) down 7.4%, Palantir Technologies (PLTR) down between 6.5% and 6.7%, and Broadcom (AVGO) down between 4.3% and 5.65% [5] - Companies in the cryptocurrency space also saw declines, with Robinhood Markets (HOOD) dropping nearly 9%, Interactive Brokers (IBKR) losing 7.8%, and Coinbase Global (COIN) sinking 6.9% [5] Economic Data and Federal Reserve Outlook - The market is awaiting crucial economic data, including the Consumer Price Index (CPI) and employment reports for October, which are expected to be delayed due to the recent end of the federal government shutdown [4][6] - The Federal Reserve's stance on interest rates remains a dominant theme, with skepticism about another rate cut in December, as the probability of a 25-basis-point cut decreased from 70% to approximately 53% [7] Upcoming Events - Nvidia's upcoming earnings report is highly anticipated, as it could serve as a significant test for the prevailing optimism surrounding AI technology [8]

Core Viewpoint - The Federal Reserve is expected to cut interest rates again in December due to signs of economic slowdown, particularly affecting lower-income consumers and small businesses, while wealthier individuals and larger companies continue to thrive [1][2]. Economic Conditions - The economy is described as "bifurcated," with a two-speed dynamic where lower-income groups are struggling, leading to a sluggish broader economic outlook as indicated by the Fed Beige Book [1][2]. - Signs of economic weakness may prompt the Federal Reserve to lower its neutral rate to around 3% and continue rate cuts into 2026 [2]. Federal Reserve Actions - Following a rate cut at the end of October, the likelihood of another cut in December is uncertain, with traders estimating a 50-50 chance of a 25 basis point reduction [3]. - The composition of the Federal Reserve is expected to become more dovish, regardless of the outcome of the upcoming decisions [4]. Market Outlook - Lower interest rates and tax benefits from the One Big Beautiful Bill Act are anticipated to prevent a recession, with the economy being late-cycle but not yet in recession [5]. - Concerns about overvaluation in artificial intelligence stocks are mitigated by the fact that current companies are profitable and not excessively leveraging debt for expansion [5]. - The technology sector is expected to continue driving stock market performance, indicating further potential for market growth [6].

Market Overview - US stocks experienced a sharp decline, primarily driven by a drop in tech stocks, following the end of the longest US government shutdown [1][2] - The Nasdaq Composite fell 2.3%, the S&P 500 decreased by 1.6%, and the Dow Jones Industrial Average dropped 1.6%, equivalent to 797 points [2] Economic Impact - President Trump signed a bill to end the 43-day federal shutdown, but officials indicated that economic reports delayed by the shutdown "will be permanently impaired" and may never be released [3] - The uncertainty surrounding economic data, particularly regarding inflation and the jobs market, complicates predictions for interest rate cuts by the Federal Reserve [4] Interest Rate Outlook - Market expectations for a December interest rate cut have shifted significantly, with a 50-50 chance now compared to approximately 95% a month ago, influenced by recent hawkish comments from Federal Reserve officials [4] Company Performance - Major tech stocks faced significant losses, with Nvidia falling over 3.5% and Tesla declining more than 6%, marking the steepest losses among the "Magnificent Seven" tech stocks [5] - Disney's stock dropped over 7.5% following the release of disappointing earnings [5]

Financial Performance - Jeffersonville Bancorp, Inc. reported a third quarter net income of $3,293,000 or $0.78 per share, an increase from $3,092,000 or $0.73 per share in the same quarter of 2024, primarily due to a reduction in interest expense of $554,000 and an increase in loan interest and fees of $500,000 [1] - Year-to-date net income as of September 30, 2025, was $9,301,000 or $2.20 per share, compared to $8,676,000 or $2.05 per share for the same period in 2024, with a $625,000 increase attributed to a decrease in interest expense of $1,764,000 and an increase in loan interest and fees of $1,361,000 [2] Operational Insights - The company has maintained a liquid balance sheet and is well positioned to outperform peers, despite uncertainties regarding future rate cuts by the Federal Reserve Board [3] - A cash dividend of $0.15 per share was declared, payable on December 5, 2025, to stockholders of record as of November 25, 2025 [3] Company Overview - Jeffersonville Bancorp is a one-bank holding company that owns all the capital stock of Jeff Bank, which operates ten full-service branches in Sullivan and Orange County, New York [4]

Boston Fed President Collins speaking yesterday at a community banking conference, taking a cautious tone around the path forward for rate cuts. A view that is echoed by our next guest. Joining us here at Post 9 this morning is former Minneapolis Fed President Gary Stern.Gary, it's great to have you back. Good morning. >> So Collins, Daly, Bostic, sort of this school that maybe it's good to slow down.>> Uh yes, and I would agree with that. I don't think first of all I don't think there's a compelling ration ...

Market Overview - Pre-market indexes are down across the board, with the Dow down 118 points (-0.24%), S&P 500 down 20 points (-0.30%), Nasdaq down 94 points (-0.37%), and Russell 2000 down 15 points (-0.62%) [1] - The market sentiment is influenced by high AI spending concerns [1] Economic Data Expectations - Anticipation for new inflation data from the Consumer Price Index (CPI) and jobs data from Weekly Jobless Claims was unmet, with expectations for inflation to rise to +3.1% and for 225K new jobless claims [2] Company Earnings Reports - **Walt Disney Co. (DIS)** reported fiscal Q4 earnings of $1.11 per share, beating estimates of $1.03, but lower than $1.14 from the previous year, resulting in a +7.77% positive earnings surprise. Revenues were $22.46 billion, exceeding expectations by +1.72% but down from $22.57 billion year-over-year [3][4] - Despite the earnings beat, Disney shares fell -5.8% in pre-market trading, erasing +4.8% year-to-date gains, primarily due to a -6% decline in its Entertainment division and a -16% drop in network revenue [4] - **Sally Beauty (SBH)** reported earnings of 55 cents per share, surpassing the consensus of 49 cents by +12.24%, with revenues of $947.1 million exceeding expectations of $933 million, marking the third consecutive earnings outperformance [5] Upcoming Earnings and Market Sentiment - **Applied Materials (AMAT)** is expected to report fiscal Q4 results, with anticipated negative earnings growth of -9.05% and negative revenue growth of -4.93% [6] - The market is also awaiting comments from several Federal Reserve members, which may influence investor sentiment regarding future interest rate cuts [7] Federal Reserve Actions - The Federal Reserve has reduced the Fed funds rate by 50 basis points since mid-September, bringing the median rate below 4% for the first time since December 2022. There are expectations for another 25 basis points cut at the mid-December meeting, but the lack of new economic data may complicate this [8]