The Brief

Wednesday, September 16, 2026

“If you control your distribution, you control your image.”– Bernard Arnault

MARKET & MACRO DATA

	Value	1D	1M	YTD	1Y	ATH
S&P 500	7,586	▼ 0.45%	▼ 2.06%	▲ 10.60%	▲ 14.82%	▼ 2.95%
Nasdaq	25,982	▼ 0.78%	▼ 2.49%	▲ 11.82%	▲ 16.33%	▼ 4.45%
Russell 2000	2,870	▼ 0.76%	▼ 6.12%	▲ 14.44%	▲ 19.44%	▼ 6.50%
EM (EEM)	$66	▼ 0.35%	▼ 2.32%	▲ 16.93%	▲ 24.01%	▼ 8.12%
Financials (XLF)	$57	▼ 0.32%	▼ 1.27%	▲ 3.50%	▲ 6.14%	▼ 2.99%
Energy (XLE)	$66	▲ 2.17%	▲ 5.35%	▲ 44.42%	▲ 46.87%	▼ 27.50%
Technology (XLK)	$184	▼ 0.29%	▼ 3.46%	▲ 27.33%	▲ 34.92%	▼ 15.50%
AI ETF (SMH)	$542	▲ 0.11%	▼ 8.75%	▲ 45.22%	▲ 76.46%	▼ 19.31%
Cons Disc (XLY)	$111	▼ 1.75%	▼ 5.03%	▼ 6.31%	▼ 8.43%	▼ 39.85%
Gold ($/oz)	$4,390	▲ 1.32%	▼ 1.87%	▲ 1.40%	▲ 17.85%	▼ 21.41%
Bitcoin (USD)	$75,844	▲ 0.31%	▲ 17.58%	▼ 15.68%	▼ 35.09%	▼ 39.90%
Copper ($/lb)	$6.51	▲ 2.15%	▼ 1.49%	▲ 15.35%	▲ 40.42%	▼ 4.41%
Brent Oil ($/bbl)	$108	▼ 1.06%	▲ 18.41%	▲ 77.12%	▲ 57.15%	▼ 27.02%
Nat Gas ($/MMBtu)	$2.92	▲ 0.17%	▲ 8.70%	▼ 19.18%	▼ 5.77%	▼ 81.47%
VIX (Volatility)	16.98	▼ 1.28%	▲ 11.78%	▲ 17.02%	▲ 3.79%	▼ 81.03%
3-Month T-Bill	4.11%	▲ 4bps	▲ 25bps	▲ 46bps	▲ 5bps	▼ 152bps
2Y Treasury	4.65%	▲ 2bps	▲ 48bps	▲ 118bps	▲ 111bps	▼ 54bps
10Y Treasury	4.97%	▲ 1bps	▲ 29bps	▲ 78bps	▲ 92bps	▼ 29bps
US HY Spread	2.71%	▲ 6bps	▲ 4bps	▼ 12bps	▼ 4bps	▼ 190bps
US Dollar Index (DXY)	99.68	▲ 0.03%	▲ 0.04%	▲ 1.28%	▲ 3.16%	▼ 39.48%
US Unemployment	4.10%	Aug 2026 · Next release: October 2, 2026
US CPI (YoY)	3.40%	Aug 2026 · BLS CPI-U all items NSA
SOFR 3M (90d avg)	3.65%	Rate only · n/a across change periods

ECONOMICS, MARKETS & BUSINESS

Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher – Mortgage rates have surged to the highest level since the start of 2025, causing a major pullback in mortgage demand. Ask Claude ›
Canada invited to become EU’s first ‘associate member’ as Trump trade war intensifies – EU chief Ursula von der Leyen said the bloc wants to open the door for Canada to become its first associate member, signaling a major deepening of ties. Ask Claude ›
U.S. Treasury Yields, Dollar Little Changed Ahead of Fed’s Likely Rate Hike – The dollar was steady in mid-morning European trade ahead of the Federal Reserve’s decision. Ask Claude ›
Petrol and diesel price rises push UK inflation higher – Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth. Ask Claude ›
Intel, SK Hynix shares jump on report they're discussing U.S. memory chip manufacturing – The deal could be a big win for Intel which has been looking to gain marquee customers for its manufacturing, or foundry, business. Ask Claude ›
Eyes on Fed Decision After Bitcoin Trades Near 4-Week Low on Failed Clarity Vote – Bitcoin traded at $75,491 after falling around 4% a day earlier to as low as $75,026 and a Fed rate hike could further weigh on cryptocurrencies. Ask Claude ›
Brent’s Rise Above $100 Reflects Pricing In of Severe Risk Scenario – Brent crude oil rose, seemingly reflecting the pricing in of severe risk scenario, BNY Investments said. Ask Claude ›
Yield on 10-year Treasury hovers above 5% as investors await Fed decision – The Federal Reserve is widely expected to hike interest rates on Wednesday. Ask Claude ›
Oil Pares Gains, Stock Futures Steady as Cautious Optimism Heralds Fed Day – Treasurys strengthened slightly as markets were near-certain the Federal Reserve will raise rates later Wednesday by a quarter-point. Ask Claude ›
Crypto exchange Binance takes on tradfi by courting rich investors to join its expanded wealth-management platform – Binance is opening its Capital Connect platform to qualified individual investors for the first time. Ask Claude ›
Gold Boosted by Easing Oil Prices, Treasury Yields – Gold rose as oil prices and Treasury yields eased ahead of the Federal Reserve’s interest-rate announcement due later Wednesday. Ask Claude ›
European Indexes Rise as Banks, AI Stocks Recover – European stock indexes were in green across the board, as banks and AI-linked stocks recouped some of the week’s losses. Ask Claude ›

TECH & AI

Amazon launches Alexa+ in India with Hindi support – Amazon is letting all customers use Alexa+ assistant in early access period Ask Claude ›
OpenAI boss says world 'right to be afraid' but should trust AI firms – Sam Altman and other tech CEOs say there are incentives to limit advancements in AI, as fears grow over the threats it poses to humanity. Ask Claude ›
AI app ads promoting 'objectification of women' banned by watchdog – The ad regulator said it had "zero-tolerance" for ads promoting AI tools that could sexualise or objectify women. Ask Claude ›
The AI data center boom is colliding with cities scarred by big industry – National outcry against data center construction has spread to Philadelphia, where officials suggested possible construction in a neighborhood already impacted by a now-defunct oil refinery. Ask Claude ›
Meta now lets AI agents handle the boring parts of WhatsApp Business setup – A new WhatsApp Business MCP server lets developers use AI coding agents like Claude, Cursor, Codex, and ChatGPT to handle setup, messaging templates, testing, and troubleshooting. Ask Claude ›
Tech Life – What should children learn in a world transformed by artificial intelligence? Ask Claude ›
The AI graveyard: a running list of projects and startups that didn’t make it – From Apple's repeatedly delayed Siri AI to OpenAI's messy "super app" launch, here's a look at the AI projects that shut down or missed expectations. Ask Claude ›
US data centers could consume more natural gas than Germany and Japan combined by 2035 – The AI frenzy could push U.S. data centers to become one of the largest consumers of natural gas in the world. Ask Claude ›

WORLD & INTERNATIONAL

Legendary Nigerian actor Olu Jacobs dies aged 84 – Olu Jacobs was one of Nigeria's most recognised actors, whose career spanned several decades. Ask Claude ›
US to bar some South Africans over claims of anti-white discrimination – Announcement of visa restrictions comes after Trump alleges ‘white genocide’ taking place in South Africa The US has announced visa restrictions on some South Africans as Donald Trump’s administration Ask Claude ›
South African president vows justice as more women's bodies found near Johannesburg – Police have not linked the deaths to a serial killer but are investigating this possibility. Ask Claude ›
At least 20 killed after war-damaged Gaza building collapses – Dozens of people are missing beneath the rubble of the building in Gaza City, where some 10 families had been living. Ask Claude ›
Philippines' Duterte seen in person for first time at International Criminal Court – He is due to be tried for crimes against humanity over thousands of deaths linked to his war on drugs. Ask Claude ›
FirstFT: US mega-donors overwhelmingly back Republicans, FT analysis shows – Also in today’s newsletter: European Commission president endorses Canada’s ‘associate member’ pitch, and the Fed should defy Trump and raise rates, say economists Ask Claude ›
Burnham considers plan to give mayors greater oversight of water companies – UK prime minister looks at proposal to create nine regional bodies that would set objectives for industry Ask Claude ›
Scientists test new (and old) navigation systems to end GPS dependence – Military operations and civilian air traffic have been hit by satellite jamming and spoofing in modern wars Ask Claude ›

EARNINGS RELEASES (next 15 days)

Date	Company	EPS Forecast	Watch
Sep 16	Lennar LEN	$1.29	Mortgage rates, housing demand, and land and construction costs
Sep 22	AutoZone AZO	$54.97	Vehicle sales, parts demand, and consumer auto spending
Sep 23	Cintas CTAS	$1.35	Contract renewals and outsourcing demand
Sep 23	Paychex PAYX	$1.33	Hiring demand and labor market trends
Sep 23	General Mills GIS	$0.72	Input costs and pricing power
Sep 24	Costco Wholesale COST	$6.48	Grocery and staples volume and price competition
Sep 24	Darden Restaurants DRI	$2.06	Traffic trends and input and labor cost inflation
Sep 30	Micron Technology MU	$31.17	Chip demand, supply bottlenecks, and AI infrastructure spending
Sep 30	Jabil JBL	$3.86	Contract manufacturing volumes and customer concentration

WEEK AHEAD

Date	Event

ON THE RADAR

Date	Event
Sep 25, 2026	U.S. PCE Price Index (August) Last PCE before Oct FOMC. Fed needs to see sustained progress toward 2% target.
Oct 2, 2026	U.S. Jobs Report (September) Q3 labour market health check; impacts Oct FOMC hold/cut decision.
Oct 14, 2026	U.S. CPI (September) Q3 inflation summary; key input for Nov and Dec FOMC decisions.
Oct 27–28, 2026	FOMC Meeting & Rate Decision (Oct 27–28, 2026) – Rate decision Oct 28 at 2 PM ET No updated rate-path forecast at this meeting; decision driven by September jobs and inflation data. Market consensus: hold.
Oct 29, 2026	U.S. Q3 2026 GDP Advance Estimate Consensus: +1.8% annualized – First read on Q3 growth; consensus +1.8% annualized after a soft Q2. A miss would reinforce rate cut case.

Marz Capital – The Brief · Sourced from Yahoo Finance, BLS, StatsCan, FRED, CNBC, Reuters & web search · Note: some 1M/YTD/1Y market columns show n/a where data was unavailable at time of research · Treasury "ATH" reflects the past 20 years, not full history, since older-regime peaks (e.g. ~15% in 1981) aren't a meaningful comparison to today

Marz Capital, 475 Kent Ave, Brooklyn, NY 11249

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