Economic Data and Federal Reserve - The week is expected to be uneventful for economic data, with a delayed Trade Deficit and postponed Weekly Jobless Claims and Inventories numbers due to the federal government shutdown [1] - The Federal Open Market Committee (FOMC) is set to release minutes from its mid-September meeting, where the Fed lowered the Fed funds rate by 25 basis points to a range of 4.00-4.25%, the first cut since December of the previous year [2][3] - Inflation levels have increased from +2.3% in April to +2.9% in August, but moderating economic growth and a slowdown in the labor market influenced the Fed's decision to lower rates [3] NVIDIA and AI Industry - NVIDIA CEO Jensen Huang has been actively discussing the ongoing AI buildout, which has been a significant driver of the stock market [5] - Huang emphasized that substantial investments and partnerships are being formed in the AI sector, distinguishing it from the previous dot-com bubble [6] - NVIDIA's current market capitalization stands at $4.5 trillion, with a P/E multiple of 41.6x forward earnings, which, while elevated, is not comparable to the over 100x multiples seen during the dot-com era [7] Stock Market Outlook - The upcoming Q3 earnings report from Delta Air Lines marks the start of the earnings season, with expectations that the September Fed minutes may provide insights into the FOMC's future direction [9] - Current market indexes show positive movement, with the Dow up 133 points, S&P 500 up 11 points, Nasdaq up 35 points, and Russell 2000 up 10 points, indicating potential for new all-time high closing levels [10]