Market Overview - The market experienced a weak session influenced by two main narratives: the Federal Reserve's actions and the AI trade [1] - The Fed's decision to cut rates by 25 basis points was perceived positively, with comments from Fed officials being less hawkish than anticipated [1] Federal Reserve Actions - A significant factor was the initiation of a mini quantitative easing (QE) plan, involving the purchase of $40 billion in T-bills, which occurred earlier than expected [2] - This early action contributed to a more dovish market sentiment [2] AI Trade Dynamics - There was a noticeable rotation from high-flying tech stocks into other market sectors, particularly following disappointing earnings from Oracle and Broadcom [3] - Investors expressed concerns regarding Broadcom's cautious comments on margins and desired more customer engagement [3] Upcoming Earnings Reports - Key earnings reports are anticipated from companies such as Micron, Nike, FedEx, Carnival, and home builders like LAR and KB Homes, which will provide insights into various sectors [3][4] - Analysts are becoming more optimistic about memory-related stocks due to tightening supplies and rising prices [4] Consumer and Housing Market Insights - The performance of Nike is particularly important, especially regarding its international markets, which may help offset weaker domestic demand [5] - Concerns about the housing market have been highlighted by companies like Toll Brothers and Home Depot, indicating potential challenges ahead [6] Economic Indicators and Central Bank Actions - A busy economic calendar is expected, with key reports on jobs, retail sales, and consumer prices scheduled for the upcoming week [6] - Internationally, significant economic indicators from China, including retail sales and industrial output, will also be released [7] - Central bank decisions from the Bank of England, European Central Bank, and Bank of Japan are anticipated, each expected to take different actions [7]