It was neck and neck and down to the wire, when the bulls won in a photo finish. The session was never exciting, and it wasn’t going to go too deep in the red with growth sectors holding up. Still, it was impressive considering how much the bears were salivating after that Producer Price Index (PPI) print.

Trumpian Way

In the prior administration, the federal government forked over billions of dollars into some of the largest, most profitable companies that ever existed. The tables have turned, and now these companies are putting “skin in the game.” For some economic purists, it seems like sacrilege. 

But this is not picking winners and losers by changing the rules or outright banning certain products.  There is a chance the administration will throw Intel Corp. (INTC) a lifeline, but it will come at a cost to them, not taxpayers. The news sent Intel (INTC) to the top of the advancers' list.

This week, mega investors have been updating their positions with the Securities and Exchange Commission (SEC).  In the last 24 hours, we learned most spied on the same name: UnitedHealth Group (UNH).

When Warren Buffett’s name came across the tape, the stock erupted higher in after-hours trading.

Find good stocks and get in front of the big players.

Today’s Session

Futures have been mixed all morning. Today is the monthly options expiration, with heightened volatility on deck. Around $2.9 trillion in options expire today, the largest August expiration ever. Be ready for a brief correction. 

Retail Sales rose 0.5% m/m, just below consensus of +0.6% and prior +0.9%.

Sector Highlights month-to-month:

• Motor, vehicle & parts +1.6% (+1.4%)
• Internet +0.8% (+0.9%)
• Sporting goods +0.8% (-0.7%)
• Clothing +0.7% (+1.1%)
• Food & beverages (away from home) +0.5% (+0.8%)
• Food Services -0.4% (+0.6%)
• Electronics -0.6% (-0.3%)
• Building materials -1% (+1.3%)

August Empire Manufacturing Index rose 11.9 from +5.5 prior, and above consensus of 0.0.

• New Orders +15.4 from +2% in July
• Prices Paid +54.1 from +56 in July
• Shipments +12.2 from +11.5 in July
• Employment +4.4% from +9.2% in July