MARKET RECAP

• US stocks jumped by 1.53% as the Fed cut rates by 50 basis points. International stocks were up 1.23%, and bonds fell by 0.26%.
• The Fed funds rate was lowered to 4.75% to 5%.
• August retail sales were up by 0.1%, but the consensus was for a decline of 0.3%
• Jobless claims were the lowest since May.
• The GDPNow model expects Q3 growth of 2.9%.

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