• Empire State Manufacturing Index (Aug): –8.7 vs. 3.0 expected vs. 11.9 prior.
• Main focus this week: Fed FOMC meeting and dot plot on Wednesday.
• Trump: said listed firms should not report earnings every quarter, only semiannual. He also said China–U.S. talks in Spain are making good progress.
• Indexes: futures at new highs before market open.
Stocks:
• Tesla (TSLA): Filing shows Musk bought 2.5M shares (~$1B) on Friday, his largest buy since 2020. German plant raised full-year production target, hinting Europe sales may stabilize. Stock jumped +8% pre-market, near the $430 area (pre-selloff high earlier this year). Stock has a history of sharp up and down moves, holding it is the key question. All-time high near $488.
• Nvidia (NVDA): China launched an antitrust probe. Stock tested the two-month support range again in pre-market before rebounding, now slightly down.
• Oracle (ORCL): After earnings surge and two days pullback, pre-market bounce +4% from $290 area (retraced about half of the ER rally).
• Alphabet (GOOGL): Keeps making new highs in pre-market, close to next target $260 area.
• Alibaba (BABA): Keeps rising after earnings, now near strong resistance at $160.
SPY:
• Opening test at $660 area. If it breaks, next target is $667.
• Downside support moves up to $657.
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