By Wed am, clarity on two macro datapoints = Winner of Prez debate + August CPI. Clarity allows stocks to stabilize in front of Sept FOMC next week.

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VIDEO: By Wed am, the market will have clarity = good as the Prez debates and CPI are released.  While next 8 weeks are choppy, we think the fact the Fed is set to cut next week remains a support and that is why we continue to see August lows holding (5,100).

Please click below to view our Macro Minute (duration 4:28).

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By 8:30am ET, equity markets will have clarity on two important macro data points, which in turn, will aid in determining whether the "soft next 8 weeks" is front-end loaded:

The two data points:- first, the winner of first 2024 Presidential Debate (9/10 9pm ET)- second, August Core CPI released Wed 8:30am ET (Street +0.20%) To us, the fact these will be behind us (not "anticipated") is arguably more important. That is, I am not sure the outcome of either really sways markets. Instead, the fact these are behind us is the "clarity" and helps markets regain some footing. Let me explain. On the Presidential debate, betting markets are favoring VP Kamala Harris, according to polymarket.com. The bet ("who will polls determine as the winner") give her 76% advantage. According to Nate Silver, the renowned pollster, he says two things are behind this:- first, she is the "under...
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