
Gold Slides to $4,284 as Fed Rate-Hike Odds Hit 70%
Gold (XAU/USD) is 22% below its 2026 record as Wednesday's FOMC meeting brings a 70% rate-hike probability.
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Daily Digest
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Short, sourced summaries of the biggest market stories - what happened, why it matters, the key numbers, and what to watch next

Gold (XAU/USD) is 22% below its 2026 record as Wednesday's FOMC meeting brings a 70% rate-hike probability.

SpaceX (SPCX) has given up a third of its June peak as 10-year yields clear 5% and FOMC hike odds reach 88%.

China's new bank loans (CNY) hit 60B yuan in August — an 85% miss vs 400B consensus and a record-low print.

ACV Auctions (ACVA) surges 44% as Copart (CPRT) offers $10.50 a share, a 45% premium in a $1.9B cash deal.

Baldwin Insurance Group (BWIN) going private at $32.50, an 88% premium, in a $7.7B deal by Dell and Sequence.
Bank of America (BAC) fell 5.1% after CEO Moynihan warned Q3 fees would drop to $1.6B-$1.8B.
Dave & Buster's (PLAY) posted a $0.27 adjusted loss per share as consumers cut back on entertainment spending.

Three analysts lift Robinhood (HOOD) targets to $138–$165 ahead of Wednesday's first Fed hike in three years.

Eli Lilly (LLY) has shed 8.4% in a month as realized GLP-1 prices fell 13% and Citi keeps a $1,600 target.

Nike (NKE) hit its lowest since 2014 after Baird slashed its target to $44, citing $100 oil and rising rates.
Skyworks (SWKS) surged 10% as CEO Brace revealed only China and Korea stand between the $22B Qorvo close.
UMich preliminary September index (UMCSENT) slid to 47.8 while 12-month inflation expectations jumped to 4.6%.

GE Vernova (GEV) dropped to $875 on GLJ's Street-low $470 Sell call, pulling Eaton and Quanta lower.

Lockheed Martin (LMT) jumped 2.5% after UBS raised its target to $674 on missile demand and Middle East risk.

GitLab (GTLB) beat Q2 estimates with $286M in revenue and raised its 2027 outlook on record bookings.
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