• OpenAI mulls valuation below target: OpenAI is considering a pre-IPO funding round after investors proposed a $1.2T valuation, while the company is seeking at least $1.5T. Its IPO is now expected in 2027. Source: StockAnalysis.com.
• Intel and SK Hynix explore chip deal: Intel (INTC) and SK Hynix (SKHY) both rose 3% premarket following news that the firms are discussing a U.S. memory-chip production agreement, potentially involving Intel’s Ohio plant. Source: Reuters.
• Crypto stocks tank on bill failure: The crypto-friendly Clarity Act failed to advance in the Senate after 4 Republicans joined all Democrats in voting it down. Bitcoin fell 5% in response, with Coinbase (COIN) and Circle (CRCL) plunging upwards of 10%. Sources: NY Times / Reuters.
• Cybersecurity firms surge on AI fears: Cybersecurity stocks are rallying as investors bet that AI-driven attacks will boost demand. Zscaler (ZS), CrowdStrike (CRWD), SentialOne (S), Fortinet (FTNT), Palo Alto (PANW), and Cloudflare (NET) are up 9–21% WoW. Source: Business Insider.
• Microsoft plans AI-focused PC event: Microsoft (MSFT) will hold a showcase on Oct. 7 that is expected to feature new Surface hardware, with CEO Satya Nadella and Nvidia (NVDA) CEO Jensen Huang attending. Shares fell 1.6%. Source: The Verge.
• Tesla Cybercab faces safety probe: Regulators are examining whether Tesla's (TSLA) steering wheel-free Cybercab complies with federal safety standards and can use temporary manual controls. Shares are down 21% YTD. Source: WSJ.
• Meta plans camera-free smart glasses: Meta (META) may unveil smart glasses without cameras next week, addressing privacy concerns around its existing frames. Shares are up 9% WoW. Sources: The Information / The Verge.
• Emmys may move to Prime Video: Amazon (AMZN) is in advanced talks to secure the Emmy Awards, potentially moving the ceremony off broadcast TV for the first time. Shares fell 2%. Source: Variety.
• Dave & Buster’s swings to loss: Arcade company Dave & Buster's (PLAY) posted a $12.5M quarterly loss as revenue fell 2.4% and entertainment sales dropped nearly 9%. Shares slid 19%. Source: WSJ.
• Starbucks weighs Japanese stake sale: Starbucks (SBUX) is considering selling a majority stake in its Japanese business at a valuation of $3B as the company focuses on reviving U.S. profitability. Shares fell 2.5%. Source: Reuters.
• Baldwin agrees to $7.7B buyout: Insurance brokerage Baldwin Group (BWIN) agreed to be taken private for $7.7B by a consortium led by billionaire Michael Dell. Shares are up 9% WoW. Source: WSJ.

Baseline was built inside an investment firm for its own process. Every fund asks the same questions: What are the barriers to entry, how do the KPIs compare with peers, and how strong is the management team? We ask these questions of over 3,600 companies, pay for the compute, and publish the answers with a written rationale behind every score.

Scoring 1 to 5 across 30+ fields lets you screen for your own heuristic, say strong pricing power with weak customer lock-in, and then read the in-depth reasoning for every matching company. An MCP connection is available, so a Claude chat starts with context on all 3,600 companies. Enterprise plans let clients add their own questions.

• Mortgage demand drops 19%: U.S. mortgage applications fell 4.1% last week as the 30-year rate climbed, reaching 7.22% Tuesday. Purchase applications were down 19% YoY, and refinancing demand plunged 65%. Source: CNBC.
• Retail sales beat forecasts: U.S. retail sales rose 1.2% in August, topping the 0.8% forecast. July's loss was also revised to 0.5%, smaller than the 0.6% first reported. Source: Bloomberg.
• Excess fuel costs rocket above $100B: U.S. consumers have spent an estimated $107B extra on gas and diesel amid the spike in prices tied to the Iran War. The average gallon of gas sits at $4.37. Sources: WSJ / AAA.
• Incomes rise as poverty falls: Real median U.S. household income rose 2.6% to $87,460 in 2025, while the official poverty rate fell to 10.2%. The gains suggest improved household finances despite inflation. Source: CNBC.
• U.K. inflation rises to 3.1%: British inflation accelerated to a 5-month high of 3.1% in August as energy costs rose. Still, core inflation held steady at 2.6%, and services inflation remained at 3.4%. Source: Reuters.

• Saudi Arabia intercepts drone near Mecca: Saudi Arabia said it shot down a Houthi drone before it entered Mecca’s restricted airspace. Houthi rebels denied the attack. Source: CNN.
• Muslim region of Philippines sees landmark vote: Parties linked to a former militant group won a majority of seats in the first-ever parliamentary election in Bangsamoro, a Muslim-majority state within the Philippines. The vote advances a 2014 peace deal that exchanged armed separatism for regional autonomy. Source: AP.
• Ex-Kosovar president sentenced for war crimes: Hashim Thaci, a former president of Kosovo, was sentenced to 25 years in prison after being convicted of murder, torture, and illegal detention committed while he commanded the Kosovo Liberation Army in the 1990s. Source: Reuters.
• E.U. floats Canadian associate membership: The E.U. suggested that Canada become its first associate member — a brand-new designation that would bolster ties in trade, defense, tech, and energy. Source: Bloomberg.

• Trump's trading outpaces Congress's: President Trump has averaged about 80 securities trades per market day since his inauguration last year, exceeding all members of Congress combined. He has made 28.7K trades in total. Source: Bloomberg.
• DoD confirms space weapons: The Pentagon acknowledged for the first time that the U.S. has deployed weapons in orbit, citing growing space capabilities from China and Russia. Source: WSJ.
• Kennedy Center closes amid legal dispute: The Kennedy Center board voted to cease operations, citing financial problems after a judge ruled that adding President Trump’s name to the building requires Congressional approval. Source: NY Post.
• CA tightens kids' tech protections: California banned infinite scroll and autoplay for social media users under age 16 and imposed new AI chatbot safeguards. Companies found to breach the rules could face fines of up to $1M per child. Sources: The Guardian / Pluribus News.
• 5 killed in dual LA crashes: At least 5 people were killed in LA after an SUV struck a city bus and a news helicopter covering the crash later went down nearby. An investigation is underway. Source: NY Times.

• 7:00 AM: MBA 30-Year Mortgage Rate
• 8:30 AM: Retail Sales MoM, Retail Sales Excl. Autos MoM, & Retail Sales Control Group MoM
• 8:30 AM: Export & Import Prices MoM
• 10:00 AM: Business Inventories MoM
• 10:00 AM: NAHB Housing Market Index
• 10:30 AM: EIA Crude Oil & Gasoline Stocks Change
• 2:00 PM: Fed Interest Rate Decision
• 2:00 PM: FOMC Economic Projections
• 2:30 PM: Fed Press Conference
• 4:00 PM: Net Long-term TIC Flows
• Thursday: Building Permits Prelim., Housing Starts

Trip.com Group (TCOM) has released its quarterly earnings.

• Revenue of $2.31B (+11.23% YoY) beats by $18M.
• EPS of $1.07 (+5.94% YoY) beats by $0.16.
• Financials · As Reported · Metrics · Press Release

Lennar (LEN) will report today after close.

• Analysts estimate revenue of $8.36B (-5.08% YoY).
• EPS is estimated to be $1.29 (-35.50% YoY).
• Financials · As Reported · Metrics

The Progressive Corporation (PGR) will report Friday.

• Analysts estimate revenue of $22.51B (+7.96% YoY).
• EPS is estimated to be $4.02 (-0.99% YoY).
• Financials · As Reported · Metrics

AutoZone (AZO) will report Tuesday.

• Analysts estimate revenue of $6.71B (+7.57% YoY).
• EPS is estimated to be $54.42 (+11.72% YoY).
• Financials · As Reported · Metrics

• Estimated Friday, Sept. 18: Electra Therapeutics, Inc. (ETRA), a biopharma company focused on immune diseases and cancer.
• Estimated Friday, Sept. 18: Holtec Nuclear Corporation (HNUC), an energy company with $564.19M in TTM revenue and -24.7% revenue growth YoY.
• Estimated Friday, Sept. 18: Orion180 Insurance Group Inc. (OIG), a specialty insurance group with $153.14M in TTM revenue and 38.3% revenue growth yoY.