In a week of economic tumult, the spotlight shines brightly on the Federal Reserve’s upcoming decision on interest rates. Investors across the nation are holding their breath as they monitor the ongoing UAW strike against automotive giants Ford, GM, and Stellantis—a strike that threatens to cast a shadow over the economy.

The stock market concluded the previous week on an uncertain note, marking the end of a rollercoaster ride. Among the major indices, the Dow Jones Industrial Average was the only one to eke out a marginal gain.

IPO Buzz: Instacart’s $10 Billion Ascent

Turning to the IPO front, all eyes are on Instacart, slated to make its debut in the coming week. This online grocery shopping powerhouse, catering to customer orders with finesse, recently revealed its ambitious target valuation of up to $10 billion, following the strong market debut of Arm Holdings. Instacart is poised to trade on the Nasdaq Marketsite, and its stock ticker will bear the symbol CART.

S&P 500 Shuffle

Monday ushers in changes in the S&P 500 lineup, as Blackstone and Airbnb step in to replace Lincoln National and Newell Brands. Concurrently, in the S&P 100, Deere & Co will take the reins from Walgreens Boots Alliance.

In an unexpected twist, rumors are swirling that Israeli Prime Minister Benjamin Netanyahu is scheduled for a rendezvous with none other than tech magnate Elon Musk, as reported by the Washington Post. This meeting is especially noteworthy given Musk’s recent critiques of the Anti-Defamation League (ADL).

Biden’s NYC Sojourn

AutoZone is gearing up to release its earnings report, shedding light on the repercussions of the ongoing UAW strike that has rattled the foundations of Detroit’s Big Three automakers. This strike, which commenced last Friday, has the potential to extract a hefty toll of nearly $6 billion from the economy in just nine days.

On the economic front, we are eagerly anticipating the release of data concerning building permits and housing starts. Simultaneously, President Biden is slated to embark on a journey to the heart of New York City to partake in the 78th session of the United Nations General Assembly.

FOMC’s Crucial Decision

Wednesday promises to be a pivotal day as the Federal Reserve unveils its decision on interest rates. This announcement comes hot on the heels of two inflation reports from the previous week, both of which surpassed expectations. Consumer prices surged by 3.7% compared to the previous year—outpacing predictions—while wholesale-level inflation increased by 1.6% annually.

According to the CME’s FedWatch Tool, an overwhelming 98% of the market anticipates that policymakers will keep rates firmly in place.

Oracle’s Ambitious CloudWorld Plans

Oracle is set to kick off CloudWorld in the dazzling city of Las Vegas. CEO Larry Ellison hinted at substantial updates during the event, following a week where Oracle’s shares took a hit due to a less-than-stellar earnings forecast.

Economic Reports Galore

In addition to the Fed’s decision, the week ahead will witness the release of critical economic data. This includes information on initial jobless claims and existing home sales, both of which will offer valuable insights into the nation’s economic health.

U.S. Manufacturing Under Scrutiny

As the week comes to a close, Blue Apron will bid adieu to the New York Stock Exchange and make its grand entrance on the Nasdaq come September 25. Simultaneously, the U.S. Manufacturing Purchasing Managers Index is set to grace us with its revealing data, shedding light on the state of the nation’s manufacturing sector.

In an economic landscape fraught with uncertainty, every decision and report becomes a crucial piece of the puzzle. Stay tuned for a week filled with financial revelations and potential market-shaping events.

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