Investment Review №354. AI lends a hand to the bulls
S&P 500 from September 10 to September 18, 2026
Key Events on the US Stock Market
10.09.2026 — 7 592
- Adobe (ADBE) beat Q3 expectations and again raised full-year guidance. However, a deceleration in ARR growth, margin pressure, and muted AI monetization cast doubt on the quality of growth.
- Oracle's (ORCL) Q1 FY27 results showed OCI revenue more than doubling and stronger cash generation. That said, weaker new contracts, margin pressure, and cautious guidance continue to raise questions about the unit economics of AI workloads.
11.09.2026 — 7 657
- U.S. core CPI rose 0.29% MoM in August (vs. 0.2% expected), while headline index increased 0.39%, underscoring persistent inflationary pressures.
14.09.2026 — 7 620
- The EPA rolled back most emissions requirements for power plants, effectively expanding generation capacity and giving Duke Energy (DUK), Southern Company (SO), and American Electric Power (AEP) greater flexibility amid surging data-center demand.
16.09.2026 — 7 552
- The Fed unanimously raised rates by 25 bps to 3.75%–4.00%, citing resilient economic activity and a strong labor market, and reiterated its commitment to returning inflation to the 2% target.
18.09.2026 — 7 650
- U.S. industrial production was flat in August after 0.2% growth in July. Manufacturing output fell 0.3%, while capacity utilization held at 76.3%.