Overview

• The S&P 500 slipped 0.1%, the Dow rose 0.6%, and the Nasdaq fell 0.3%, keeping markets near record highs.
• Fed officials outlined the possibility of several rate cuts by the end of 2026, and Jerome Powell cautioned against treating those projections as definitive.
• August housing starts fell 8.5% to a 1.307 million annual rate, and building permits declined 3.7%.
• General Mills beat expectations with adjusted EPS of $0.86 on revenue of $4.52 billion for fiscal first quarter.
• Stock-specific moves included Nio on a UBS upgrade and new model shipments, Rivian on a Georgia facility groundbreaking, Moderna on preliminary LP.8.1 antibody data, Meta on a reported smart‑glasses leak, and BitMine after disclosing a large Ethereum holding.