The Fed kicks off its two-day policy meeting as investors look for clues on where interest rates go next, while fresh deals in energy and healthcare show corporate dealmaking remains active. Meanwhile, consumer spending faces another test, and earnings are revealing diverging fortunes across banking, pharmaceuticals, and airlines.

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Futures are edging higher across the board after Monday’s AI-driven rally, with tech maintaining its momentum ahead of Wednesday’s Fed decision. Renewed enthusiasm for the AI trade is lifting chip stocks overseas, while Visa and Boeing earnings take center stage ahead of blockbuster results from Microsoft and Alphabet.

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Earnings (Premarket):
· Coca-Cola Company [KO]
· Novartis AG [NVS]
· Boeing Company [BA]
· S&P Global Inc. [SPGI]
· Corning Incorporated [GLW]
· HCA Healthcare, Inc. [HCA]

Earnings (Aftermarket):

· Visa Inc. [V]
· Seagate Technology Holdings PLC [STX]
· Waste Management, Inc. [WM]

Earnings (Time Not Supplied):

· HSBC Holdings plc [HSBC]

Economic Reports:

· Durable goods orders (September): 8:30 am
· S&P Cotality Case-Shiller Home Price Index (August): 9:00 am
· New home sales (September): 10:00 am
· Conference Board consumer confidence (October): 10:00 am
· Federal Open Market Committee meeting: Time TBA

U.S. consumer spending faces a fresh test Tuesday as consumer confidence and home sales figures arrive at 10 a.m. ET, offering clues on household demand before Wednesday's Fed decision.

The Fed begins its two-day policy meeting with a rate hold widely expected, but inflation pressures keep December tightening possible as borrowing costs and earnings remain in focus.

Anthropic's IPO filing is putting AI economics under the microscope after disclosing rapid growth alongside steep losses, giving investors an unusually detailed look at development costs.

Meta plans to raise up to $95 billion in equity to fund its expanding AI infrastructure, adding a new financing dimension to its massive technology spending plans.

Novartis raised its annual core-profit outlook despite a $1.9 billion drug impairment, as strong cancer and multiple-sclerosis sales offset setbacks in its experimental treatments portfolio.

RadNet agreed to acquire radiology provider ONRAD through an upfront cash-and-stock payment, expanding its hospital staffing network and adding teleradiology services across 26 states.

Not long ago chipmakers had the upper hand. Electricity suppliers have it now, because power has quietly become the AI boom's bottleneck.

Who supplies the power?

Data centers took 4.4% of U.S. electricity in 2023. Lawrence Berkeley National Laboratory projects up to 12% by 2028.

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The grid was not built to carry that, and one American energy company is already feeding the demand.

I'd like the stock's name.

EQT agreed to acquire Range Resources for roughly $13 billion in an all-stock natural gas merger, creating America's largest producer as LNG exports and power demand grow.

Surgery Partners is being taken private in a $5.7 billion transaction after HealthSpan agreed to acquire the operator, expanding its outpatient footprint across more than 200 facilities.

HSBC reported a 32% jump in quarterly profit but revenue fell short of expectations, with sluggish wealth-business growth overshadowing a new $1 billion share repurchase.

JetBlue's revenue jumped 21% but its losses widened as higher fuel costs squeezed margins, even though stronger fares helped the carrier recover much of its fuel expenses.

Credo shares climbed as investors returned to AI infrastructure stocks following a recent selloff. The chipmaker is attracting renewed attention after launching its next-generation optical technology, designed to improve data transfer speeds and energy efficiency in AI data centers. No fresh company-specific catalyst has emerged, suggesting the rebound reflects improving sentiment toward high-speed networking suppliers.

Powering AI data centers is becoming big business for INNIO. Shares advanced as investors continued digesting a major new data center order for 620 megawatts of generating capacity. The deal brings orders from one U.S. customer to 1.72 gigawatts, alongside a long-term maintenance agreement. With third-quarter earnings scheduled for Tuesday morning, attention is turning to how quickly that growing backlog converts into revenue.

Americans aren't rushing to replace their refrigerators, and Whirlpool is feeling the pressure. Shares plunged after the appliance giant slashed its full-year earnings outlook, now forecasting an adjusted loss of $1.30 per share. Quarterly revenue fell nearly 9% to $3.68 billion as weak housing demand and rising costs squeezed profitability. Management plans further price increases, but its recovery is taking longer than expected.

One analyst believes Elon Musk is preparing to launch the biggest project of his career — and says the key date is December 8.

He claims the clues are already buried in government filings, along with one investment move he believes should be made before December 9.

His full case is laid out in a free masterclass.

See What Elon Filed Before December 8

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— Adam Garcia
Elite Trade Club

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