Stock Market Update

The stock market is poised for a flattish open as investors anticipate a slate of potential catalysts after the open. 

The market will hear from President Trump, who will address the UN at 9:50 a.m. ET, and Fed Chair Jerome Powell in his first public speech since last week's 25-basis point rate cut. 

Chicago Fed President Austan Goolsbee (FOMC voting member) reiterated a nuanced approach to monetary policy in a CNBC interview this morning, stating that rates can go down a fair amount over a gradual period of time if stagflation concerns are cleared, but current inflation levels do not lend themselves to an aggressive easing approach. 

Fed Governor Michelle Bowman (FOMC voting member) offered a somewhat contrasting opinion in a speech this morning, stating that elevated inflation readings from tariffs should be overlooked in the short term, and labor market concerns necessitate a forward-looking approach to policy easing.