• Market recap: The Nasdaq gained 1.9% for the month of September, but the S&P 500 fell 0.5% and the Dow dropped 4.3%. For Q3, the Dow was the only losing index of the three, falling 2.7%. Source: CNBC.
• Treasury yield & currency fluctuations: The 10-year Treasury yield moved above 5.33% this morning to hit a level not seen since April 2002 — a 24.5-year high. Meanwhile, the dollar climbed to a 16-month high while the euro tumbled to a 17-month low. Sources: CNBC / WSJ / Reuters.
• Micron profits on memory shortage: Micron's (MU) Q4 revenue jumped to $54.23B and adjusted EPS reached $33.42, both beating estimates. Micron expects tight memory supply through 2028, though shares fell 1% premarket. Source: WSJ.
• Apple preps smart-home rollout: Apple (AAPL) plans to unveil an AI-powered smart-home hub and an updated HomePod mini and Apple TV on Oct. 13. The expansion puts its new Siri at the center of a push to compete in the connected-homes market. Shares gained 1.1%. Source: Bloomberg.
• Lilly combo drug boosts weight loss: Eli Lilly's (LLY) experimental weight loss combo helped patients lose significant body weight, with the next trial phase set for year-end. Shares fell 2.3%. Source: StockAnalysis.com.
• Stellantis bottoms out: Stellantis (STLA) has fallen 60% YTD, hitting a record low of $4.36 yesterday. Still, the company reaffirmed 2026 guidance and targets positive free cash flow in 2027 amidst a $70B turnaround. Source: CNBC.
• Paramount names co-CEO: Mattel (MAT) CEO Ynon Kreiz will become co-CEO of the combined Paramount (PSKY) and Warner Bros. (WBD) company, overseeing daily operations alongside David Ellison. Additionally, a judge approved an antitrust settlement for the $111B merger, allowing it to close in early October. PSKY rose 3.4%. Sources: NY Times / CNN.
• Condé Nast CEO takes over at Mattel: Roger Lynch is leaving Condé Nast after 7 years to become chairman and CEO of Mattel (MAT), succeeding Ynon Kreiz. Mattel fell 4.2%. Source: NY Times.
• Novo claims extended weight loss: Novo Nordisk (NVO) said that patients switching to its pill form from injections saw further weight loss. Shares fell 1%. Source: CNBC.
• Broadcom offers Anthropic $42B in financing: Broadcom (AVGO) agreed to lend Anthropic up to $42B to finance AI infrastructure and chip leases. Broadcom gained 1% premarket. Source: Reuters.
• FTC probes AI heavyweights: The FTC opened a broad investigation into whether OpenAI, Anthropic, and other AI firms violated consumer-protection laws through deceptive practices, data misuse, or harms from rogue AI systems. Source: NY Times.

• MGM leaves door open to People bid: MGM (MGM) CEO Bill Hornbuckle left open a potential bid for People Inc. (PPLI), its largest shareholder, after People withdrew its earlier MGM offer. People gained 3%, with MGM down 1.5%. Source: CNBC.
• Hormel buys Brakebush: Hormel Foods (HRL) agreed to acquire chicken processor Brakebush Brothers for $1.06B. Hormel is down 16% YTD. Source: WSJ.
• Grindr buys HIV telehealth provider: LGBTQ dating app Grindr (GRND) bought Freddie for $250M, expanding into the healthcare business. Grindr, which sees a roughly $240M annual revenue opportunity, fell 4.3% yesterday but gained 1.4% premarket. Source: WSJ.

• Super rich widen wealth gap: The wealthiest 0.1% of U.S. households now control about $28T, or 15% of national wealth, after gaining $14.5T since 2019. Roughly $10T of those gains came from stocks and mutual funds. Source: WSJ.
• Oil whipsaws above $100 on Chinese export ban: Oil prices climbed back above $100 per barrel today amid reports that China has scrapped fuel exports for all of October. Sources: CNBC / Reuters.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 197,000 for the week ending Sept. 26, down 1,000 WoW. The 4-week moving average was 200,000, down 2,500 WoW. Source: Dept. of Labor.
• Holiday sales set to top $1T: U.S. holiday retail sales are projected to rise 4.5% and exceed $1T for the first time, though inflation is driving much of the growth. Source: CNBC.
• Swiss inflation hits 2-year high: Swiss inflation rose to 1% in September, up from 0.8%. The uptick was driven by higher oil prices and a weaker franc. Source: Bloomberg.

• Korea-U.S. investment plan faces uncertainty: The White House announced $200B in proposed South Korean investments, including $54B for an Alaskan natural-gas hub. However, Seoul has not confirmed funding for the project, which remains under review. Source: Politico.
• Fed watchdog finds no misconduct: The Fed’s inspector general found no criminal or administrative misconduct in its $2.4B headquarters renovation but criticized weak cost controls and oversight. The project’s estimate had risen from $1.3B in 2020. Source: WSJ.
• SEC greenlights retail access to private markets: The SEC approved proposals to broaden accredited-investor eligibility and allow advisers to charge performance fees of up to 20% in retail-focused products. The move expands private-market access despite liquidity concerns. Source: CNBC.
• TN execution attempt fails: Christa Pike, who would have been the first woman put to death in Tennessee in over 200 years, survived her execution attempt and is in the hospital. Although the Supreme Court had cleared the way for her execution, TN Gov. Bill Lee decided to stop further execution attempts through year-end. Source: NPR.

• Senate blocks data center bill: Senate Democrats halted a bill encouraging large data users to front the costs for data centers, claiming that the measure didn't go far enough. Dems proposed an alternative bill that would make cost-covering mandatory. Source: Reuters.
• Stock trading bill fails: Senate Dems also blocked a bill limiting stock trading by members of Congress, arguing that the rules don't apply to the president and objecting to the measure's unrelated voting restrictions. Source: CBS.
• Other developments: The Senate confirmed Keith Sonderling, a corporate ally, to lead the Department of Labor and postponed a bill to ban Chinese car imports until after the midterms. Sources: The Hill / AP.

• 8:30 AM: Initial Jobless Claims
• 10:00 AM: ISM Manufacturing PMI & Employment
• Friday: Non Farm Payrolls, Unemployment Rate

Micron Technology (MU) has released its quarterly earnings.

• Revenue of $54.23B (+379.27% YoY) beats by $3.10B.
• EPS of $33.42 (+1,002.97% YoY) beats by $1.92.
• Financials · As Reported · Metrics · Press Release

Accenture (ACN) has released its quarterly earnings.

• Revenue of $18.70B (+6.25% YoY) beats by $669.04M.
• EPS of $3.29 (+8.58% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

McCormick & Company (MKC) has released its quarterly earnings.

• Revenue of $2.03B (+17.46% YoY) beats by $46.11M.
• EPS of $0.86 (+1.18% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

Acuity (AYI) has released its quarterly earnings.

• Revenue of $1.24B (+2.89% YoY) misses by $10.82M.
• EPS of $5.77 (+10.96% YoY) beats by $0.18.
• Financials · As Reported · Metrics · Press Release

Nike (NKE) will report today after close.

• Analysts estimate revenue of $11.35B (-3.19% YoY).
• EPS is estimated to be $0.44 (-10.20% YoY).
• Financials · As Reported · Metrics

Constellation Brands (STZ) will report Tuesday.

• Analysts estimate revenue of $2.55B (+2.67% YoY).
• EPS is estimated to be $3.57 (-1.65% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.