The Fed gearing up for what may be the most chaotic meeting of all time. Want to get over to senior economics reporter Steve Leeman. He's got the details.Steve. >> Hey Andrew. Yeah, call it Fed meeting mayhem.While the Fed is likely to vote to cut rates this week, it's unclear how many officials will actually be voting with a potential Senate vote tonight. A court ruling today. There could be 10, 11, or 12 voters at the meeting.The administration asked an appeal court to overturn the Cook injunction over th ...

Economic Outlook - The US labor market has been revised downward by 911,000 jobs between March 2024 and March 2025, marking the largest preliminary revision on record, indicating only about half of the initially reported jobs were created [2][6] - The Congressional Budget Office (CBO) projects economic growth for 2025 to be only 1.4%, down from a previous estimate of 1.9%, with inflation expected to rise to 3.1% and unemployment peaking at 4.5% [2][6] Regulatory and Political Developments - Massachusetts has filed a lawsuit against KalshiEX LLC for allegedly operating illegal sports gambling, claiming its "event contracts" are indistinguishable from traditional sports wagers and violate state laws [3][6] - The relationship between the Federal Reserve and the Treasury is reportedly strained due to President Trump's actions, including threats to remove Fed officials and public disputes with Chair Jerome Powell [5][6] Corporate Developments in AI - Accenture (ACN) is investing heavily in AI, training over 700,000 employees in agentic AI technologies, with generative AI sales reaching $2.6 billion in the last six months, a significant increase from $300 million [7][6] - Apple (AAPL) is facing an executive exodus in its AI division, with senior AI executive Robby Walker leaving the company, amidst scrutiny over delays in AI development [8][6] Financial Market Insights - Citi (C) analysts report challenges in predicting default rates for bonds and leveraged loans due to an increase in companies restructuring their debt, with distressed exchanges becoming three times more frequent than traditional defaults [9][6] - Moody's reports a leveraged loan default rate of 7.6% in 2024, the highest since 2020, indicating a more complex default landscape [9][6] Company-Specific News - Tesla (TSLA) Chair Robyn Denholm has downplayed concerns that Elon Musk's political activities are affecting sales, asserting that consumer enthusiasm for Tesla products remains strong [10][6] - Nasdaq (NDAQ) terminated an employee for a social media post celebrating violence, reaffirming its zero-tolerance policy towards such behavior [11][6]

Economic Outlook - The bond rally's sustainability is questioned, with considerations on economic and inflation outlooks [1][4] - The yield curve has started to flatten, indicating potential changes in short-term yields [2][3] Market Sentiment - There is significant demand for various asset classes, including US, European, and emerging market equities, as well as bonds and liquid alternatives [6][7] - Despite concerns about a potential US recession and a weakening labor market, there remains optimism in the market [4][7] Commodity Performance - Industrial metals, particularly copper, are showing strong performance and potential breakout [5] - Gold is being favored as a protective asset amid concerns about currency debasement, with central banks increasing their purchases [8][9] Investment Trends - Investors are actively looking to deploy cash across multiple asset classes, reflecting a positive sentiment towards economic strength [6][7] - The resilience of urban areas, such as London, suggests a robust economic environment despite mixed industrial production numbers [11][12]

JPMorgan Chase CEO Jamie Dimon is urging caution about the outlook for the U.S. economy amid persistent uncertainty over the impact of tariffs as well as geopolitical headwinds. "I think you better be careful on that one [on the economic impact on the U.S.], because some of these things have long cycles. So we don't know yet. People are expecting these things to happen right away. But actually, a lot of them haven't happened," Dimon said in an interview on the "Office Hours: Business Edition" podcast releas ...

Economic Outlook - The Royal Bank of Canada's Economic Outlook for Canada indicates that 2025 will be a challenging year due to trade shocks and weak growth [2] - Rising unemployment rates, a sharp drop in consumer confidence, and cautious business sentiment contribute to economic struggles [2] - Structural issues such as low business investment and poor productivity growth persist, compounded by lower immigration rates affecting population growth [3] - Despite these challenges, the outlook has improved compared to previous months due to eased trade tensions with the US, flexible monetary policies, and resource advantages [3] Positive Developments - Five key positive developments are highlighted: exemption of most Canadian goods from US tariffs, improved consumer data, potential for further rate cuts, fiscal capacity of the economy, and benefits from US growth [4] TSX Stocks Overview - A list of the 10 best TSX stocks to buy according to billionaires is presented, emphasizing the importance of hedge fund sentiment in stock selection [6][7] Cenovus Energy Inc. - Cenovus Energy Inc. is ranked as one of the best TSX stocks, with 41 hedge fund holders and 13 billionaire investors, totaling an investment value of $881 million [8][9] - The company announced a sale of a 50% interest in WRB Refining LP for $1.4 billion, which includes two refineries processing approximately 495,000 barrels per day [9][10] - Following the announcement, analysts maintained a Buy rating with price targets of C$30 and C$29 from Raymond James and Jefferies, respectively [11] Royal Bank of Canada - Royal Bank of Canada is also listed among the best TSX stocks, with 28 hedge fund holders and 11 billionaire investors, amounting to an investment value of $935 million [12] - The bank reported fiscal third-quarter revenue of $12.32 billion, a 13.49% year-over-year increase, exceeding Wall Street expectations [13] - Despite strong performance, the bank was downgraded from Outperform to Neutral due to valuation concerns, with a price target of C$208 [12][14]

SYDNEY (Reuters) -A measure of Australian consumer sentiment eased back from 3-1/2-year highs in September as concerns about the economic outlook overshadowed a continued improvement in family finances, a survey showed on Tuesday. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment fell 3.1% to 95.4, having jumped 5.7% in August to its highest since early 2022. The reading under 100 means pessimists still outnumber optimists. "Outright optimism remains elusive for Australian ...

Economic Outlook - Denmark's central bank will substantially cut its 2025 economic outlook [1] - The cut is due to weaker sales growth at Novo Nordisk [1] - US tariffs are also contributing to the reduced outlook [1]

Market Outlook - US stock retreat is expected to be short and shallow [1] - Corporate earnings remain robust [1] - Economic outlook remains robust [1]

America is becoming a nation of economic pessimists https://t.co/yqHrFer27L ...

US consumer sentiment declined to a three-month low as tariff-related concerns about the economic outlook and inflation persisted https://t.co/tXUNmPvh0R ...