Sept 17 2025

 

• Indexes & Fed:

  • NASDAQ extended a six-day win streak but looks stretched near moving averages.

  • 10-year yield flat at ~4.02% ahead of today’s Fed decision (expected 25 bps cut, with markets pricing in two more cuts this year).

• Commodities:

  • Crude oil at ~$64.25 (-0.5%), XLE back above moving averages.

  • Gold at ~$3,700/oz (-0.5%), still showing strong relative strength.

• Economic Data:

  • Mortgage refinance demand spiked 60% last week as rates dropped.

  • Housing starts missed expectations.

  • Atlanta Fed Business Inflation Expectations Survey due at 10 a.m. ET.

• Stock Movers:

  • Tesla: Slight dip (-1.5%) after settling lawsuits tied to 2019 autopilot crashes.

  • Netflix: Upgraded by Loop Capital (PT raised to $1,350 from $1,150).

  • Alibaba: +2% on securing China Unicom as AI chip customer.

  • Nvidia: -1.5% after China banned major firms (Alibaba, ByteDance, etc.) from buying its tailor-made chips.

  • Baidu: Up ~7% on AI/cloud optimism and a new deal with China Merchants Group.

  • Workday (WDAY): Higher after Elliott disclosed $2B stake.

  • Lyft: +12% on robo-taxi partnership with Waymo in Nashville.

• IPOs:

  • Stubhub (STUB): Priced at $23.50/share (midpoint of range).

  • WaterBridge Infrastructure (WBI): Priced at $20/share (top of range).

👉 Overall: Market strength continues ahead of the Fed decision, with standout moves in Lyft, Baidu, Workday, and Alibaba, while Nvidia and Tesla face pressure.