"Investors took the week to crush the numbers and figure out what comes next. Their conclusion: The Federal Reserve will definitely cut interest rates by at least 0.25% when it meets two weeks from now. Then it will probably cut again in October, and a third time in December. The only question now is whether one or more of these cuts will be by 0.5%, instead of just 0.25%."
"Advertising software maker Applovin ( Nasdaq: APP) and mobile-first stock brokerage Robinhood Markets ( Nasdaq: HOOD) will join the index on September 22. Making way for these two stocks will be casino stock Caesar's Entertainment ( Nasdaq: CZR) and broker MarketAxess Holdings ( Nasdaq: MKTX). Applovin stock is up nearly 10% premarket, and Robinhood is up nearly 9%. Caesar's and MarketAxess stocks, in contrast, are both down marginally."
August employment reports were weak, with private payrolls and the Bureau of Labor Statistics showing anemic nonfarm payroll growth of 22,000 net new jobs. Market participants now expect the Federal Reserve to cut interest rates by at least 0.25% at the next meeting, with additional cuts likely in October and December and debate over potential 0.5% moves. Equity reaction includes the Vanguard S&P 500 ETF opening up about 0.2% premarket. The S&P 500 will add Applovin and Robinhood on September 22, replacing Caesar's Entertainment and MarketAxess, with the new additions rallying premarket.
Read at 24/7 Wall St.
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