To The Moon

U.S. stock market reaches historic highs ahead of FOMC decision

🇺🇸 S&P 500: 0.03%

🇺🇸 Nasdaq: 0.21%

🇪🇺 STOXX 600: 0.40%

🇯🇵 Nikkei 225: -1.03%

🇭🇰 Hang Seng Index: 1.37%

🇨🇳 CSI 300: Market closed

The U.S. stock market closed higher, with the S&P 500 $S&P 500(.SPX)$   and Nasdaq $NASDAQ(.IXIC)$  rising 0.03% and 0.21%, respectively, ahead of the critical interest rate decision from the Federal Reserve tonight.

The Nikkei 225 fell 1.03%, pressured by concerns over a stronger currency.

The Hang Seng Index rose 1.4%, as investors optimistically bet on a significant rate cut in the U.S. this week.

Upcoming Events:

U.S. core retail sales and industrial production month-on-month will be released on Tuesday.

On Wednesday, data on Japan's year-on-year exports, EU final CPI year-on-year, and core CPI year-on-year will be published.

On Thursday, investors will focus on the U.S. federal funds rate, FOMC economic projections, FOMC statement and unemployment claims.

By the end of the week, we will see the release of Japan's national core CPI year-on-year, Bank of Japan policy rate, monetary policy statement, and China's 1-year and 5-year loan prime rates.

Things to Know Today:

1. Amazon $Amazon.com(AMZN)$  is saying goodbye to the hybrid working schedule. CEO Andy Jassy said Monday that corporate workers should be in the office five days a week starting Jan. 2. It's a significant shift from the previous requirement of being in the office three days a week.

Amazon CEO Andy Jassy

2. Intel $Intel(INTC)$  shares soared after hours on Monday as the company unveiled plans to turn its foundry business into an independent unit. It would have its own board and could potentially raise outside capital. The restructuring is part of CEO Pat Gelsinger's plan to turn the chipmaker around and comes as Intel's stock has lost almost 60% of its value in 2024.

Intel

3. Boeing $Boeing(BA)$  unveiled sweeping cost-cutting measures Monday as it deals with more than 30,000 factory workers in Washington and Oregon who went on strike last week. The manufacturer said it would implement a hiring freeze, put a pause on nonessential staff travel and reduce supplier spending to save money.

Boeing strike

4. Charter Communications  wants customers to view its cable and broadband provider in a more positive light. To that end, the company — which is known to customers under the name Spectrum — is rolling out new broadband, cable TV, and mobile bundles and pricing; increasing internet speeds; offering credits for service outages; and promising better reliability for customers.

Charter Communications

5. Shares of space technology provider Intuitive Machines $Intuitive Machines(LUNR)$ soared in late trading on Tuesday after the company announced another contract with NASA. The space technology provider announced a contract with NASA that could award some $4.8 billion in work over 10 years.

Key Points:

While investors expect a rate cut on Wednesday, there is disagreement in the market about the potential magnitude of the cut.

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