ETF Action in the A.M.
Source: TheStreet Pro

Position: None
Source: TheStreet Pro

Position: None
PepsiCo cuts its outlook, TSM September revenue and other headlines moving the market this morning.
With Marvell forecasting a big jump in earnings and revenue figures, let’s check the chart for where it could bump into resistance.

Source: TipRanks
4:30 a.m.: Fed Board Governor Waller (Voter) speaks on the economic outlook before the Central Bank of the Republic of Türkiye (TCMB) Istanbul Economic Forum, Istanbul, Turkey (Text available. Q&A from moderator and audience. Livestream at
https://istanbulef.org/eng/yayin/ AND https://www.tcmb.gov;
10:40 a.m.: Fed Bank of Minneapolis President Kashkari (Voter) participates in conversation before virtual 2026 Institute Research Conference at the Federal Reserve Bank of Minneapolis, Minneapolis, MN (No audience Q&A. No media Q&A. No prepared/embargoed text; RSVP for livestream: https://web.cvent.com/event/9c80aa95-4b1d-46d9-8958-484b451a88ee/register?rt=wpYr6f2tTUCA6SwR3ZUAGQ);
1:40 p.m.: Fed Bank of St. Louis President Musalem (Non-Voter) speaks on the U.S. economy and monetary policy before “The Future of Fixed Income” Bloomberg event, NYC (No text. Moderated Q&A expected. Virtual option available)
Revolving balances (credit cards) dropped the most since November 2024 in August, while nonrevolving credit (student loan + autos) climbed to another record high.
Positions: None.
Fed Governor Waller signals more rate hikes, oil jumps and junk bonds flash a warning.
With the expected news out I am buying PepsiCo ($PEP) in the premarket at $124.55.
Position: Long PEP (S)
I just covered the balance of my index shorts with S&P futures -47 handles.
Position: None