Market review from UTEX — week 39

Major US indexes continue setting all-time highs: SPY gained 0.96%, Nasdaq 2.16%.

Among big names, equipment maker for chipmakers ASML Holding surged 14%, mobile gaming company AppLovin rose 11%, Caterpillar +8%, and Tesla +7%.

Bitcoin lost 2% over seven days, trading near $12,500. Ethereum fell a full 7%. The main crypto sell-off started just today.

On Wednesday, the Fed cut interest rates by 25 basis points. Powell noted the regulator now sees less reason to believe tariffs will cause sustained inflation growth, which allowed the rate cut. Powell also mentioned worsening labor market conditions. At the same time, the Fed lowered its 2025 unemployment forecast to 3.6% and revised 2025 GDP growth upward from 1.4% to 1.6%. The 2026 estimate improved from 1.6% to 1.8%, and 2027 from 1.8% to 1.9%.

According to CME FedWatch, the chance of a 0.25% rate cut at the next meeting on October 29 stands at 91.9%.

On Tuesday Jerome Powell will speak in Warwick, USA, on the economic outlook for 2025. On Thursday, the US Q2 GDP data will be released, and on Friday, the PCE, inflation measure usually referenced by the Fed.

Interesting reports this week: Cintas, Jabil, Micron, Costco, AutoZone, and CarMax.

Top 5 ideas for trading this week

🔴 Cintas (CTAS). Report on September 24 before market open. The company provides corporate uniforms and related services. From 2010 to 2025, the stock steadily grew, except for a drop during Covid-19. However, for almost a year, it has struggled to surpass the $230 mark. Currently trading around $200, with the nearest support at $180. Recent reports showed decent volatility.

🟡 CarMax (KMX). Report on September 25 before market open. A used car retailer whose stock has fallen 26% over the year, nearing the $55 support level, which held in 2022 and 2023. If the level holds, it may be a good mid-term buy.

🔴 Micron Technology (MU). Report on September 23 after market close. Manufacturer of DRAM and NAND memory chips, flash memory, and SSD drives. Shares rose 39% last month and have been holding at all-time highs this week. In April, the price was just above $60; now it’s over $160. A sizable gap and intraday movement in either direction are likely after the report.

🔴 Jabil (JBL). Report on September 25 before market open. Since April, the American electronics manufacturer’s shares rose from $100 to $220. High volatility is expected as the stock is near all-time highs. Previously recommended for mid-term trades when prices were more attractive. Intraday moves on earnings day could be significant.

🔴 Accenture (ACN). Report on September 25 before market open. IT consulting and management company. Since early February, shares dropped from $390 to $220. Good mid-term price levels now, but better to wait for the report and forecasts.

Choose what suits you best:

🔴 high risk, for the pros;

🟡 medium risk, for traders with little experience.

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