Good morning investors! Oil prices are rising again.
Today we cover:
What to expect this week
OpenAI IPO delayed
Diesel hits an all time high
📊 Economy and News
What to Expect this Week
Here’s what you need to keep an eye on this week:
Monday, September 14
Treasury bill auctions (3-month and 6-month).
Tuesday, September 15
Empire State Manufacturing Index (8:30 a.m. ET) — September reading; prior was 20.6.
FOMC two-day meeting begins.
Salesforce Dreamforce conference kicks off. Main keynote 1–3 p.m. ET with CEO Marc Benioff; Anthropic CEO Dario Amodei is a scheduled speaker.
Wednesday, September 16
August Retail Sales (8:30 a.m. ET) — Key consumer spending gauge. July fell 0.6% month-over-month; consensus looks for a rebound (around +0.8% to +0.9% expected in some forecasts). Also: Import/Export Price Indexes.
Business Inventories (10:00 a.m. ET) and NAHB Housing Market Index.
FOMC interest-rate decision (2:00 p.m. ET) — Markets pricing high odds of a 25-basis-point hike (target range potentially moving from 3.50–3.75% to 3.75–4.00%). Summary of Economic Projections and “dot plot” also released.
Fed Chair Kevin Warsh press conference at 2:30 p.m. ET.
Salesforce investor/analyst session at Dreamforce (4:00 p.m. ET).
Lennar (LEN) reports quarterly results after the close (conference call Thursday).
Thursday, September 17
Housing Starts & Building Permits (8:30 a.m. ET) — August data.
Philadelphia Fed Manufacturing Index (8:30 a.m. ET).
Initial Jobless Claims.
Pending Home Sales (10:00 a.m. ET).
Bank of England rate decision (morning U.K. time).
Friday, September 18
Industrial Production & Capacity Utilization (9:15 a.m. ET) — August figures.
Leading Economic Indicators (10:00 a.m. ET).
Global hits:
UBS sees Chinese carmakers reach 37% globally by 2030.
South Korea expands espionage law to protect chip technology.
Speculators turn net long on yen for first time since February.
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📈 Stocks
S&P 500 7,656.98 (+0.86%)
DJIA 52,573.29 (+0.98%)
NASDAQ 26,333.04 (+0.96%)
BRENT CRUDE 104.34 (-3.02%)
* Prices as of Sep 13th, 12:20 AM UTC
OpenAI IPO Delayed As Experts Push to Slow AI Progress
OpenAI CEO Sam Altman said the company will not go public this year, calling an IPO now “ill-advised” amid rising AI safety concerns. The decision delays one of the most anticipated IPOs until at least 2027.
The comments came the same day Anthropic CEO Dario Amodei published an essay urging AI companies to deliberately slow the pace of advancing model capabilities. Altman and Elon Musk quickly backed the proposal.
Amodei outlined a three-step framework: grant third-party evaluators employee-level access (which Anthropic has already committed to), establish common safety standards among leading AI firms in democratic countries, and pursue coordination between democratic and authoritarian governments. He stressed that pacing does not mean halting progress, but allowing time for proper alignment, safeguards, and independent verification.
Altman agreed the industry needs to pace advanced AI development and said OpenAI will also commit to independent evaluators with employee-like access. Musk simply posted: “Dario is right.”
On the other hand, Anthropic CEO Dario Amodei said the “toughest dilemma” about his proposal to slow the advancement of AI is what happens if China does not do the same as Xi says China will take lead to foster AI.
Interesting: Larry Ellison has canceled his plan to sell up to 50 million of his shares in Oracle, or $7.5 billion worth of stock at the current price. The cancellation came a day after Oracle disclosed in a regulatory filing a trading plan for its founder to sell shares.
💵 Personal Finance
Diesel Hits Record $6 a Gallon, Raising Costs Across the Economy
Diesel prices reached a national average of $6.06 a gallon last week—the first time ever above $6—up 21 cents in a week and surpassing the previous record of $5.82 set in 2022.
The fuel has jumped more than 55% since the start of the U.S.-Iran war, outpacing gasoline’s 40% rise. Oil has climbed back above $100 a barrel amid the conflict, while damaged or constrained refineries in the Middle East and Russia, plus export limits from Russia and China, have tightened diesel supplies.
Although few passenger cars run on diesel, it powers nearly all heavy trucks, freight trains, farm equipment, and construction vehicles. Higher costs are passed on through fuel surcharges, raising prices for goods, food (especially during harvest season), and home heating oil used by millions of Northeastern households. California averages already near $8 a gallon.
Analysts expect further increases, potentially toward $7 nationally. The spike has already added more than $46 billion in costs for Americans—over $350 per household—since the war began.
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