M Alfathan Rahman
M Alfathan Rahman
The S&P 500 and Nasdaq closed at records, and tonight the market reads the Fed's meeting minutes.
Wall Street rose again on Tuesday. According to Investing.com, the S&P 500 gained 0.58% and the Nasdaq added 0.48%, both closing at record highs. Tech and AI stocks led the gains.
Still, the 10-year Treasury yield sits near 5.3% and Brent crude is above $101 a barrel. Tonight, the minutes of the Fed's September meeting test the rally.
| Stock | Movement | What to Watch |
|---|---|---|
| NVDA | +0.14% Tuesday at $239.24 | An FT report says SpaceX is seeking a $40 billion loan to buy Nvidia chips. Watch for any update on the deal. |
| AMD | +2.80% Tuesday at $649.42 | CEO Lisa Su is set to meet Samsung's chip head as the memory crunch persists. Watch for news from the meeting. |
| MU | -1.73% Tuesday at $1,045.56 | Samsung reports preliminary Q3 results on Thursday (Oct 8). Watch memory stocks ahead of the release. |
| APO | +0.52% Tuesday at $115.95 | Reported to lead SpaceX's $40 billion financing. Watch for official confirmation from the parties. |
| LEVI | +1.28% Tuesday at $20.53 | Scheduled to report earnings after the close tonight. Watch the results and company guidance. |
Source: closing prices from Nasdaq. What to Watch: Seeking Alpha/FT (NVDA, APO), Bloomberg (AMD), Investing.com (MU), Nasdaq (LEVI).
The Fed releases the minutes of its September 15-16 meeting tonight, per the Fed's official calendar. According to Investing.com, markets have cut the odds of an October rate hike to around 20%, while a December hike remains heavily priced. Investors will look to the minutes for clues on the rate path.
According to an FT report cited by Seeking Alpha, SpaceX is seeking $40 billion in financing led by Apollo Global Management (APO) to buy Nvidia (NVDA) chips. According to The Motley Fool, Nvidia was worth around $5.8 trillion at Monday's close, about 4% shy of $6 trillion.
According to Bloomberg, AMD (AMD) CEO Lisa Su will meet Samsung's chip head as memory supply stays tight. Samsung reports preliminary Q3 results on Thursday. According to Investing.com, the LSEG estimate for its operating profit is 106.1 trillion won, which would be a fourth straight record.
US stock index futures traded largely unchanged during the Asian session, according to Investing.com. Asian stocks fell as rising oil prices and bond yields weighed.
Brent rose above $101 a barrel and WTI approached $90 after Houthi attacks in Saudi Arabia. The 30-year Treasury yield is above 5.6%, according to Investing.com.
The AI stock rally lifted the S&P 500 to a record, but yields and oil prices remain high. Tonight's Fed minutes may offer clues on where interest rates go next.
The stocks on this watchlist are worth following as the market reacts to the minutes.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
What stocks are you watching tonight?
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