Schwab Network

Kevin Green expects significant market moves once the Fed announces its interest rate decision and releases its economic projections. He points out levels to watch in the SPX in the event of a notable upside or downside move. Also watch regional banks, as Kevin notes technicals in the SPDR S&P Regional Banking ETF (KRE) signaling a potential breakout.

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Dolly Lenz & Jenny Lenz preview the Fed’s expected rate cut and discuss the impact on real estate markets. They argue that a 1% decrease in rates means buyers can afford a 10% more expensive house, meaning that even a small cut can have a big impact and bring people off the sidelines. They discuss regional supply trends in places like Florida and New York.

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Loop Capital upgraded Netflix (NFLX) to a buy from hold and called its prior downgrade of the stream giant a "mistake." Diane King Hall dives into the commentary that includes how Netflix's content drives profits. Piper Sandler and Guggenheim both upgraded Workday (WDAY) due to "environment improvements" and a wider runway for growth. Diane also notes Bernstein's upgrade of Zillow Group (ZG).

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Jonathan Corpina previews Powell’s press conference after the Fed rate cut decision and how it could move markets. He thinks if his comments spook the market, there could be a “3-4%” pullback over the next few days. “The market is expecting a little more clarity” around the end of the year, but he expects Powell to remain vague. Jonathan also discusses the burgeoning IPO market, which he considers optimistic for the economy.

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Nvidia's (NVDA) China headwinds grow. Reports say Chinese internet regulators ordered companies not to buy the company's chips. Jenny Horne notes Nvidia's downside price action and rallies in Chinese A.I. stocks like Alibaba (BABA) and Baidu (BIDU) painting a mixed picture for the international chip trade.

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Today's session is all about the Fed. Kevin Hincks catches investors up to speed on the near-certain 25bps interest rate cut the FOMC is expected to announce in the afternoon. However, Kevin makes the case that the Fed's economic projections and future rate cuts will be more critical for investors. He later touches on the rise in weekly mortgage applications.

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Alibaba (BABA) shares rise after reports its A.I. chip received a big order from China's Unicom. Rick Ducat zooms out on BABA's chart going back to the peak-COVID pandemic levels to show how far it has fallen. Over the past year, Rick says its shares have risen to a +2 Standard Deviation channel showing significant moves over the last year. Later, Tom White demonstrates an example options trade for BABA. He utilizes an iron condor strategy with a neutral direction.

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Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D

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Daniel Siluk says some market participants are looking for a 50bps rate cut which he believes would indicate "panic." On the Fed's dot plot, he states it could be a little bit more disperse but adds that he doesn't really know any investors or traders that build a position based off of it. Daniel indicates that Jerome Powell's commentary will be critically important and doesn't believe calls that the Fed Chairman is "late" on rate cuts is fair. He shares his belief that the U.S. economy is strong, citing previous retail sales data.

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Chris Versace joins Diane King Hall at the NYSE to discuss the Federal Reserve's pending rate decision, which has largely been priced in as at least a 25bps cut. He disagrees with some predictions that upwards of 6 rate cuts could be forecasted by the Fed. Chris chimes in on inflation pressures impacting retailers and consumers right now, and how that factors into the Fed's decision. He adds that there could be a "sell the news" event on today's FOMC decision. Later, Chris discusses several stock picks including: Marvell (MRVL), Dutch Bros (BROS) and Universal Display (OLED).

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Rachel Dashiell breaks down the recent price activity in Workday (WDAY). She points to the stock's relative weakness compared to the overall information technology sector over the past 90-days. On a longer term chart, she says there's a confluence of signals coming into place including the 50-day simple moving average below recent upward resistance levels near $240.

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