On September 22, Eastern Time, the Nasdaq Composite Index reached a new high, while bank stocks generally came under pressure. Wells Fargo (WFC) fell 3.92%, UBS (UBS) dropped 3.66%, JPMorgan Chase (JPM) declined 3.42%, Bank of America (BAC) fell 3.04%, and Citigroup (C) lost 1.91%.

TradingKey - The Federal Reserve resumed rate hikes after three years, but what truly caught the market off guard was not the 25-basis-point adjustment, but rather the hawkish stance conveyed by Chair Kevin Warsh and the dot plot's repricing of the duration of high interest rates.

TradingKey - Although the KOSPI Index has pulled back about 27% from its record high in June, and market concerns over the sustainability of AI capital expenditures, high volatility in South Korean stocks, and the semiconductor cycle continue to escalate, Timothy Moe, Chief Asia-Pacific Equity Strategist at Goldman Sachs, has still not lowered his previously issued 12,000-point target.

TradingKey - GS closed near $1,038 after a 3% rally as dealmaking, trading and asset management stay strong. Can $1,045 unlock $1,057-$1,096?

TradingKey - MS Q2: Revenue $21.35B (+27% YoY), EPS $3.46 (+62%), ROE 20.7%, ROTCE 26.6%. Institutional Securities $11.04B (+44%), equities $6.30B (+69%), IB $2.44B (+58%). Wealth $8.86B (+14%), inflows $148.1B record, fee assets $3.02T. IM AUM $2.0T.

TradingKey - Michael Wilson, Chief U.S. Equity Strategist at Morgan Stanley (MS), warned that another significant surge in oil prices could become one of the biggest risks currently facing the U.S. stock market. He advised investors to appropriately allocate to energy stocks to mitigate the impact of spiking oil prices on equity portfolios.
