According to CNBC, Micron reports earnings tonight as investors look for the next move in semiconductor stocks, while the iShares Semiconductor ETF, or SOXX, remains 13% below its late June record close. The note also said August inflation data showed the Fed's preferred PCE price index rose 3.4% year over year, below the 3.7% Dow Jones consensus, and traders were pricing in a hold at the central bank's October meeting. Boeing rose more than 2% after the Pentagon selected it to build the U.S. Navy's sixth-generation fighter jet, and Robinhood gained more than 4% after unveiling weekend trading for certain stocks and ETFs, perpetual futures for eligible customers, and agents inside the Robinhood App. Rosenblatt raised its price target on Amazon to $360 from $335 and said the stock could navigate AI-related advertising disruption largely unaffected, while Bernstein initiated Corning at hold with a $140 price target. MongoDB shares stabilized after Monday's 18.5% drop as Bank of America and Morgan Stanley pointed to a positive investor day following the surprise exit of its former CEO.
