OP Wire 9/9 (OP – Lite)

By Steve

⚡ OP Wire – Rate Cuts, Big Earnings, and QQQ Near Highs

🏦 Fed & Labor Market

Rate cut expectations surged after Friday’s weak payrolls print. Futures markets now price in a near-100% chance of a 25 bps cut next week, with rising odds of a 50 bps move.

Tuesday: Benchmark payroll revisions — estimates suggest as many as 1M jobs could be revised lower for the 12 months through March.
Wednesday: PPI data.
Thursday: CPI — the critical read, especially with tariff effects now hitting consumer prices.

The Fed is walking a tightrope: easing policy while tariffs fuel inflation.

📊 Earnings Spotlight

$ORCL reports after the bell — watch for AI commentary to guide sentiment.
$GME also reports Q2 after-hours; stock is already down ~26% YTD, but any surprise could trigger volatility.
$AAPL will host its “Awe Dropping” event Sept. 9 — iPhone 17 lineup (including the razor-thin “Air”), new Apple Watch updates, and AirPods Pro Gen 3 expected.

🛢️ Crude Oil

OPEC+ agreed to raise October output by just 137K bpd, much smaller than previous monthly hikes. That, plus talk of more sanctions on Russia, lifted oil:

Brent $66.54 (+0.8%)
WTI $62.76 (+0.8%)

📈 QQQ Tech Index

The $QQQ closed at 578.87 (+0.49%), leaving us just 1% away from retesting the 583.32 all-time high.

Bulls remain in control as long as 570 holds.
Unless we see a “sell-the-news” event, the uptrend remains firmly intact on rate cut bets.
Main directional drivers: economic data + tonight’s $ORCL report.

Bitcoin ~$112K | Gold >$3,700/oz (ATH) | Silver ~$42/oz

📅 Today’s Data

10AM ET – Payrolls Benchmark
12PM ET – EIA Short-Term Energy Outlook
1PM ET – 3Y Note Auction
4:30PM ET – API Weekly Crude Stocks

🔑 OP Community

Today is AC&I Live Stream Day. Yesterday I popped into Secret Sauce Live and caught 3 trades just following Greg with one earbud in while multitasking. 🤩 Super valuable.

👉 See you in chat — let’s keep stacking.

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