The Vanguard S&P 500 ETF is set to open modestly lower after a strong Friday gain, with traders assessing direction for the week. Odds of a September interest-rate reduction rose to 84% after Fed Chair Jerome Powell signaled openness, while the next FOMC meeting is scheduled for September 16-17. Key tech earnings include Nvidia on Wednesday and Dell and Marvell on Thursday, providing insight into sector health. The BEA will report July PCE on Friday, with core PCE expected to rise 0.1 percentage point to 2.9%. The U.S. government paid $8.9 billion to acquire a 10% stake in Intel, buying 433.3 million shares at $20.47 each, with $5.7 billion coming from grants under the CHIPS Act.
The Vanguard S&P 500 ETF ( NYSEMKT: VOO) is set to open 0.3% lower on Monday after scoring a big 1.5% gain on Friday, as traders digest their winnings and wonder "what's next?" this week. Prospects for a September reduction in interest rates rose to 84% Friday after Fed Chairman Jerome Powell expressed openness to the idea of cutting rates, but that decision still remains about three weeks off.
In other news, the rumors proved true. On Friday, Commerce Secretary Howard Lutnick confirmed that the U.S. government has taken a 10% stake in Intel ( Nasdaq: INTC) stock. The government paid $8.9 billion to acquire 433.3 million Intel shares at $20.47 per share, a discount to its then-current market price. $5.7 billion of the payment came from "grants under the CHIPS Act that had be
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