MARKET RECAP

• US stocks +1.49%, international +1.83%, bonds +0.44%.
• The 2-year note is now at 3.56%.
• Investors are counting on a fed rate cut.
• Initial jobless claims hit the highest level in four years. Texas appeared to be a significant contributor and may be linked to the floods in early September. Remove Texas, and the number aligns with recent reports.
• Real-time economic activity trackers are holding steady. Restaurant bookings, US air travel, Las Vegas visitor volumes, same-store retail sales, and hotel bookings are all solid, according to Apollo Chief Economist Torsten Slok.
• CPI was up 0.4% month over month and 2.9% year over year. Core CPI was up by 3.1% year over year and 0.3% for the month.
• Conservative personality Charlie Kirk was assassinated at a college campus in Utah, at one of his famous “Prove me wrong” events, casting a dark pall on the state of the country.

SCOREBOARD