IPO Market - StubHub has gone public, opening slightly above its offering price of $23.50 per share, raising approximately $800 million by selling 34 million shares [1][2] - The overall market for new offerings is experiencing a resurgence, with the previous week being the busiest since 2021, featuring seven large IPOs [2] Nvidia - Nvidia's stock closed down over 2.5% after reports of China banning local tech companies from purchasing its chips, specifically the RTX Pro 6000D [3][4] - This marks a second setback for Nvidia, as market regulators have initiated an anti-monopoly investigation regarding its acquisition of Milanx in 2020 [5] - The company did not include any sales from China in its recent earnings guidance, indicating potential challenges in that market [4] Chinese Market Dynamics - Chinese ADRs saw gains as local companies like Alibaba and Baidu are developing their own chips to compete with Nvidia, following the chip news [6] - State media reported that Alibaba secured a significant customer, China Unicom, for its chips, supporting China's push for self-reliance in technology [6] Housing Market and Economic Indicators - The average 30-year fixed mortgage rate has decreased, leading to an increase in refinancing activity as consumers seek to capitalize on lower rates amid economic uncertainty [7][9] - The upcoming Federal Reserve rate decision is anticipated to impact various sectors, particularly tech and utilities, which are typically responsive to rate cuts [8] Labor Market and Consumer Health - Initial jobless claims are expected to be around 240,000, with a hotter-than-expected number potentially acting as a market catalyst [11] - The small-cap sector has shown resilience, spiking nearly 2% following the Fed's rate cut decision, indicating a need for lower borrowing costs [12] - Darden's upcoming earnings report is expected to provide insights into consumer behavior, particularly regarding affordability and menu adjustments to cater to value-seeking consumers [14]