Day Ahead: What we’re watching for in today’s session.

Market Update:

U.S. Treasury bonds are rising following new data that left investors uncertain about the size of the expected interest rate cut by the Federal Reserve next week. Meanwhile, Boeing workers have gone on strike for the first time in 16 years, rejecting a proposed contract, and China has suspended PwC’s operations for six months, imposing a record fine over audit failures related to Evergrande.

Headlines:

• Traders have renewed expectations for a potential 50 basis points rate cut from the Federal Reserve, with just a few days left until the decision.
• Adobe stock declines after a sales forecast shows no expected gains from AI.
• Russian hackers launch surprise attacks on the Taiwan Stock Exchange and a bank.
• Boeing workers in Seattle strike for the first time since 2008.
• Former New York Fed President William Dudley sees a case for a 50 basis point rate cut from the Federal Reserve next week.
• PDD’s status as a leading Chinese growth stock is in question after a 30% drop.
• OpenAI and Nvidia discuss AI infrastructure needs with the Biden administration.
• Betting markets heat up on Kalshi following the CFTC’s court loss.

U.S. Earnings Reports:

• SelectQuote and Cheetah Mobile are among the companies expected to report earnings on September 13.

U.S. Economic Releases:

• 15:30: August Import Price Index YoY (Est. 0.9%, Prev. 1.6%)
• 15:30: August Import Price Index ex-petroleum (Est. 0.2%, Prev. 0.2%)
• 15:30: August Import Price Index MoM (Est. -0.2%, Prev. 0.1%)
• 15:30: August Export Price Index YoY (Est. 1.4%, Prev. 1.4%)
• 15:30: August Export Price Index MoM (Est. -0.2%, Prev. 0.7%)
• 17:00: September University of Michigan 1-Year Inflation (Est. 2.8%, Prev. 2.8%)
• 17:00: September University of Michigan 5-10 Year Inflation (Est. 3.0%, Prev. 3.0%)
• 17:00: September University of Michigan Expectations (Est. 72.2, Prev. 72.1)
• 17:00: September University of Michigan Current Conditions (Est. 61.6, Prev. 61.3)
• 17:00: September University of Michigan Sentiment (Est. 68.5, Prev. 67.9)
• 23:30: President Joe Biden meets with UK Prime Minister Keir Starmer.