The Soft Landing

The S&P 500 is looking like it's gonna have a four-day winning streak after another batch of economic reports pointed to moderation cemented bets the Federal Reserve is approaching the end of its interest-rate hikes. The Dow Jones Industrial Average added a cool 46 points, a 0.3% increase. The S&P 500 also did great, advancing by 0.4%, while the Nasdaq Composite added 0.6%. The S&P 500 tech sector is on fire, climbing for the fourth day in a row. Chipmaker Nvidia is up 1.8% whilst Apple's shares went up by over 1% as they sent out invites for a super exciting launch event on September 12. Rumor has it that they're gonna unveil the iPhone 15!

S&P 500 could rally another 11% by year-end, according to a Morgan Stanley senior portfolio manager. The US stock market has been out performing this year, thanks to mega-cap tech stocks. The S&P 500 has increased by 17% so far in 2023. There's a chance the rally could continue, with the index possibly reaching 5,000 points by the end of the year. This would be an 11% increase from Tuesday's close at 4497 and could surpass the previous record high of around 4,818, this is all according to Andrew Slimmon, managing director and senior portfolio manager at Morgan Stanley Investment Management.

Saudi Arabia does it again. Saudi Arabia is expanding its sports portfolio with a new MMA deal. The country's sovereign wealth fund has acquired a minority stake in the Professional Fighters League. This is not the first time a Middle Eastern investor has partnered with a US sporting entity.

ChatGPT is a cash cow! OpenAI is set to reach $1 billion in annual revenue thanks to their impressive ChatGPT AI bot, which has ignited a surge in AI investment. The startup supported by Microsoft Corp is making $80 million in revenue monthly.