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Good morning investors! The S&P 500 reached new heights on Monday as stocks continue to impress.
Today we cover:
The visa situation
Nvidia roars again
Tylenol to get banned?
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📊 Economy and News
Trump's $100,000 H-1B Visa Fee Plan: Hardest-Hit Tech Firms
President Trump's proposed $100,000 fee on new H-1B visas. The one-time charge, clarified by the White House as applying only to new approvals, could strain tech and consulting firms reliant on the program.
Baird analysts shared data on average annual H-1B approvals (2015–2024) for key players, noting that actual hires are often lower. Here's a breakdown of the most exposed companies:
Company | Avg. Annual Approvals | 2025 YTD Stock Change | Analyst Consensus | Implied Upside (Price Target) |
|---|---|---|---|---|
Infosys | 3,750 | -22% | Hold | +17% |
Cognizant | 2,450 | -11% | Hold | +27% |
Accenture | 1,200 | -31% | Buy | +28% |
Despite short-term pressures, analysts see rebound potential as firms adapt—though fewer approvals typically translate to fewer actual U.S. workers. Also, Trump administration may exempt doctors from $100,000 H-1B visa fee.
Global hits:
Argentina markets soar after US Treasury pledges support.
Nigeria’s economy posts fastest growth in four years on oil rebound.
Italy’s debt-to-GDP ratio revised down for 2023 and 2024.
China leaves benchmark lending rates unchanged as expected.
Controversial: The Supreme Court allowed President Donald Trump to remove Rebecca Slaughter as a member of the Federal Trade Commission while the justices consider her case.
Disney says ‘Jimmy Kimmel Live’ will return to ABC today.
Lastly, Trump’s order to halt offshore wind project overturned, Orsted to restart work soon.
Good to know: Apple’s stock has turned green for the year after the company released new iPhone, Apple Watch, and AirPods models.
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📈 Stocks
S&P 500 6,693.75 (+0.44%)
DJIA 46,381.54 (+0.14%)
NASDAQ 22,788.98 (+0.70%)
BRENT CRUDE 66.44 (-0.19%)
* Prices as of Sep 23rd, 12:20 AM UTC
Nvidia Commits $100 Billion to OpenAI for Massive AI Data Center Expansion
Nvidia announced a monumental $100 billion investment in OpenAI , fueling the AI lab's ambitious plan to construct data centers requiring 10 gigawatts of power—equivalent to 4-5 million GPUs, roughly double Nvidia's shipments from last year and matching this year's total.
CEO Jensen Huang called the partnership "monumental in size," joining OpenAI CEO Sam Altman and President Greg Brockman. The initial $10 billion tranche deploys upon completing the first gigawatt, with funds released progressively at current valuations. The first phase launches in late 2026 using Nvidia's Vera Rubin systems, positioning Nvidia as OpenAI's preferred chip and networking supplier.
This deal underscores the symbiotic AI boom: OpenAI, with 700 million weekly users, relies on Nvidia's GPUs for ChatGPT and beyond. Analyst Bryn Talkington of Requisite Capital Management noted the "virtuous" cycle, as OpenAI funnels funds back to Nvidia. The announcement boosted Nvidia's stock nearly 4%, adding $170 billion to its $4.5 trillion market cap.
Huang estimated one gigawatt costs $50-60 billion, with $35 billion for Nvidia tech, highlighting the scale as competition from AMD and cloud giants intensifies.
Check this: Spirit Airlines to furlough 1,800 flight attendants to cut costs in bankruptcy. Elsewhere, Apple-supplier Luxshare shares pop 10% on report of OpenAI hardware deal.
Rumor: The Trump administration is rumored to link childhood autism to prenatal Tylenol (acetaminophen) use and low folate levels, a key vitamin for fetal brain and spine development.
Tylenol maker Kenvue recently discussed the matter with HHS officials, advising pregnant women to consult providers before using OTC meds.
No clear evidence supports a direct tie between prudent acetaminophen use in pregnancy and fetal issues.
💵 Personal Finance
US Cities Facing Household Income Declines in 2024
US household incomes rose a modest 1% nationally in 2024 to a median of $82,690, per Census Bureau data. Yet seven of the 50 largest cities saw declines, according to a SmartAsset analysis—highlighting urban economic volatility from business shifts and demographics.
Cities with the Sharpest Income Drops
City | 2024 Median Income | Change from 2023 | Notes |
|---|---|---|---|
Minneapolis | $77,732 | -4.1% | Households with children: -19% (possible factors: divorces, workforce exits) |
Denver | $89,500+ | -2.5% (est.) | Still above national median |
Seattle | $95,000+ | -2.0% (est.) | High-earning hub, but volatile |
Austin, TX | $85,000+ | -1.8% (est.) | Tech-driven fluctuations |
(Three others not detailed) | Varies | -1% to -3% | All exceed national average |
Four of these cities remain above the national median, buoyed by prior growth. Big metros are prone to swings from influxes of new firms or population changes, notes SmartAsset's Jaclyn DeJohn.
Slowest Growth Elsewhere
Growth lagged under 1% in five major cities:
Philadelphia: +0.36%
Indianapolis: +0.41%
Colorado Springs: +0.55%
Omaha: +0.56%
Boston: +0.89%
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.