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Jobs and Jobless Reports, Wall Street Cheers Signs Fed-Rate Cut, CPI Shows Pace of US Inflation Likely To Keep Fed Cautious on Rate Cuts, New Richest Person, Waymos in NYC

Martin Eiden | September 13, 2025

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New and Noteworthy

Jobs and Jobless Reports

Initial jobless claims unexpectedly popped to 263,000 for the week ended September 6, a near four-year high, while economists had anticipated 235,000. A much weaker-than-expected piece of labor market data, coupled with a mildly hotter-than-anticipated inflation report, took some wind out of the sails of US stocks last week. But it didn't last long. (Full Story)

Wall Street Cheers Signs Fed-Rate Cut

US stocks reached new records last week, with optimism soaring as the Federal Reserve signaled openness to rate cuts. Both the Dow and S&P 500 rallied sharply, driven by positive CPI inflation data and hopes for continued monetary easing. Market sentiment was buoyed by strong corporate earnings. (Read More)

CPI Shows Pace of US Inflation Likely To Keep Fed Cautious on Rate Cuts

U.S. inflation surged in August 2025, with the Consumer Price Index (CPI) rising 2.9% year-over-year, marking its fastest annual rate since early 2025. The Federal Reserve is expected to lower interest rates soon, but officials remain cautious due to the impacts of tariffs and pers-istent core inflation at 3.1%. (Read More)

New Richest Person

Oracle’s massive rally on Wednesday made cofounder Larry Ellison’s fortune rise by $89 billion to $383 billion, the biggest single-day gain ever. Then yesterday, The Wall Street Journal reported the Ellison family is backing a bid by the newly merged Paramount Skydance (which Larry's son David Ellison heads) to buy all of Warner Bros. Discovery. (Full Story)

Waymos in NYC

Self-driving Robotaxi service Waymo is running a pilot testing program in NYC. The California-based company has deployed its fleet to New York City, but with humans still driving the vehicles instead of its self-driving software. Will this eventually replace yellow cabs and Uber/Lyft drivers? If so, how long will it take? (Learn More Here)

Team News

111 W 57th Street

Last week, the team toured Manhattan's most spectacular building on Billionaire's Row: 111 W 57th Street aka Steinway Tower. Much has been written about this super tall tower, but nothing compares to being inside and experiencing it for yourself.

The views were absolutely breathtaking, the full floor units left nothing to be desired, and the amenities were world class. True luxury in one of Manhattan's most exclusive buildings. Learn more about this stunning building here or by reaching out directly.

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