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The new infrastructure with Microsoft will include the NVIDIA GB300 NVL72 systems, which are also deployed by hyperscaler CoreWeave.

New York Attorney General Letitia James is suing the Trump administration over its new rule limiting eligibility for Public Service Loan Forgiveness.

GBP/USD stabilizes around 1.3140 at the start of the week, virtually unchanged for the day. The Pound Sterling (GBP) trades cautiously ahead of Thursday’s Bank of England (BoE) policy announcement, as markets assess the likelihood of a monetary easing move.

Federal Reserve (Fed) Bank of San Francisco President Mary Daly participated in a moderated discussion at the Forum Club of the Palm Beaches in Florida on Monday, during which she remarked that she supported the rate cut and that the labor market has softened quite a bit.

Beyond Meat surprised Wall Street with the announcement Monday.

San Francisco Fed Pres. Mary Daly is speaking and says that she:

• Supported rate cut

• Rate cut was appropriate

• Still have inflation above target, need to get it down

• Labor market has softened quite a bit

• Need to keep policy modestly restrictive

• Open mind on December

• 50 bps of cuts this year makes Fed better-positioned

• Need to make decision that balances risks

• Not a more divided Fed than before

• Wouldn’t even use the word ‘divided’

• Disagreement is usually what you see when world is uncertain.

• Everyone should 1 of the FOMC to debate and disagree.

• Government data is the only data we get.

• Looking ahead requires talking with people.

• We have less information than used to, but can still make a decision as needed

• Labor market doesn’t look like it’s on a precipice

• Will there was a risk, inflation is is still printing around 3%

• I look at pockets of saw this as a leading indicator.

• If you wait for job market report to tell you if labor market is weak, you are already behind.

• Surprised and pleased by the economic resilience.

The Fed cut rates by 100 basis points in 2024. It may be that they cut by 50 basis points in 2025.

The Fed is currently driving in a fog with less data. That could lead to mistakes if they don’t see something. I am sure the Fed is doing all it can to drive through the fog by getting information from other sources. The Fed is closer to neutral that they were 2 cuts ago.

inflation may be lower than expectations but it is still at 3%.

This article was written by Greg Michalowski at investinglive.com.

Elon Musk’s automaker faces a widening probe concerning alleged safety defects with the company’s flush-mounted, electronic door handles.

The Atlanta Fed growth estimate for Q3 rose to 4.0% from 3.9% last

GDPNow is not an official
forecast of the Atlanta Fed.
Rather, it is best viewed as a
running estimate of real GDP
growth based on available
economic data for the current
measured quarter. There are no
subjective adjustments made to
GDPNow—the estimate is based
solely on the mathematical results
of the model.

With the absence of government data, the model is reliant on private data like today’s ISM manufacturing index. Impact was a 0.1% uptick.

This article was written by Greg Michalowski at investinglive.com.

The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

In its latest quarterly report, Berkshire said the cost basis of its consumer products equity holdings fell by roughly $1.2 billion from the prior quarter.