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Happy Friday! The Fed’s favorite measure of inflation, the PCE, came in lighter-than-expected for August, giving the central bank more confidence that inflation is normalizing. My favorite gauge for the market (my portfolio) is still well off its all-time highs, but maybe this report will change that. Plus, some breaking news in the biotech space.

—Aaron Bry

Plus, if you still haven’t taken advantage of gold’s historic rally, you need to take a look at today’s partner.

MARKET SNAPSHOT

Yesterday: New highs once again, but bears came out of their cave to knock the market down a peg. $SMCI was a notable loser, shedding more than 10% of its market cap after news of an investigation from the Justice Department.

On Our Radar: Consumer sentiment data will come out at 10am ET, then later in the day we will hear from Fed Governor Michelle Bowman.

TOP STORY

Fed's Preferred Inflation Gauge Comes In Below Expectations For August

Basically: The Federal Reserve’s preferred measure of inflation in August came in below expectations, showing a decline from July’s inflation rate.

According to government data released Friday, the Personal Consumption Expenditures (PCE) Price Index increased by 2.2% in August compared to the same period last year. The reading was below the 2.3% analysts were expecting and a drop from July’s 2.5%. Here’s how the numbers will impact the Fed’s next rate cut decision.

PRESENTED BY PRIORITY GOLD

Shielding Your Retirement As The Dollar Slips

The U.S. dollar's share of global reserves has plummeted 14% since 2002. A shift in the world's economic landscape seems to be underway. De-dollarization makes the future stability of America's currency rocky, which could be bad news for those saving for retirement.

Priority Gold offers a solution: Gold IRAs. Adding gold to your retirement accounts can hedge against currency fluctuations and help preserve purchasing power. Gold's historical stability makes it a good choice for anyone who wants to shield their hard-earned savings through what has traditionally been considered a wealth-haven investment in times of turmoil.

Don't let global currency shifts jeopardize your retirement. Visit PriorityGold.com to learn how a Gold IRA can provide stability.

FIVE ZINGERS

That’s A No-No: Cassava Biosciences agreed to pay a $40 million fine to the SEC for misleading data regarding the company’s Alzheimer trials.

Taking Profits: Palantir co-founder Peter Thiel has offloaded more than $1 billion in stock as share prices soar. Should retail investors be worried?

Not Enough Chicken: Costco didn’t sell enough rotisserie chickens in the last quarter, with shares lower after the company missed revenue targets.

More Room To Run?: Mega-cap tech stocks like NVIDIA and Microsoft have been some of the early winners of the AI boom. But is there more room for them to run?

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Schizophrenia Treatment Revolution: FDA Approves Bristol Myers Squibb's Cobenfy As First New Class Of Treatment In More Than 3 Decades

Basically: On Thursday, the FDA approved Bristol Myers Squibb & Co’s Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for schizophrenia in adults.

So: Bristol-Myers added the treatment via Karuna Therapeutics deal for $330 per share in cash for a total equity value of $14 billion. $BMY shares are trading higher on the news, but is it there still time to get in?

PRESENTED BY LOGIC MARKS

Independent Living And Safety: How LogicMark’s Innovations Are Helping To Address The Needs Of An Aging America

American seniors are increasingly choosing to live independently rather than relocating to a nursing home, especially since the pandemic. However, many of them are at risk of accidental fallings, which could cause serious injury or worse even death. Meanwhile, high crime rates are preventing many Americans from venturing outdoors in fear of becoming a victim. Unless personal safety solutions are elevated to modern technological standards, stakeholders risk being left behind while placing communities at greater risk than necessary. LogicMark is at the forefront of the personal safety products market and is behind new solutions to address these threats. The smart personal safety market in which LogicMark participates is forecast to grow at a CAGR of 12.7% to $33.5 billion by 2030.

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