[Morning Report] S&P500 hits 42nd record high, Micron surges over 14%. Attention on today's LDP leadership election and US PCE report.

US stock market rose on the 26th. The Dow Jones Industrial Average and S&P 500 Index rebounded, while the Nasdaq Composite Index rose for the 4th consecutive day. The closing price of the S&P 500 Index hit a record high for the 42nd time in 2024.
Following the strong earnings report by the semiconductor giant Micron Technology the previous day, the upward momentum was maintained. Investors were also aware of the upcoming release of the August Personal Consumption Expenditures (PCE) price index. $Micron Technology (MU.US)$rose by 14.7%. The earnings exceeding market expectations became a buying factor. Philadelphia Semiconductor Stock Index $PHLX Semiconductor Index (.SOX.US)$Shares rose significantly for the fourth consecutive day.
On the 27th, buying continued widely in the Tokyo stock market, including leading stocks, and the Nikkei Stock Average is likely to continue rising significantly. There is a high possibility of a significant rebound above the 90,000 yen level.

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米司法省はコンピューター・サーバー製造大手 $Super Micro Computer (SMCI.US)$を調査している。8月下旬に空売りで知られる投資会社ヒンデンブルグ・リサーチが同社に批判的なリポートを出したことを受けて、調査に動いた。複数の関係者が明らかにした。

[Preview] Will the PCE price index, which the FRB pays the most attention to, be significantly lowered by the end of the year?
On September 27, the U.S. Department of Commerce is scheduled to release the Personal Consumption Expenditures (PCE) Price Index, which is the most important inflation indicator for the Federal Reserve. According to market consensus, the PCE Price Index for August is expected to decrease from 2.5% to 2.3% year-on-year, and from 0.2% to 0.1% month-on-month.

コストコ、6-8月期は増収増益 売上高は予想下回る
米会員制倉庫型量販大手 $Costco (COST.US)$が26日発表した6-8月期(第4四半期)決算は増収増益だった。ただ売上高がウォール街の予想に届かなかったことが材料視されて、時間外取引で株価は下げている。6-8月期の純利益は2.3 billion50 millionドル(前年同期は2.1 billion60 millionドル)、1株利益は5.29ドル(同4.86ドル)。

米マクドナルド、既存店売上高が改善か
ベアード・キャピタルのアナリストは調査リポートで、米ファストフードチェーン大手マクドナルドのビジネスモデルは、さまざまな景気シナリオで比較的良好な業績を生み出せるとの見方を示した。また、米国で既存店売上高が改善している兆候が見られると指摘した。

米新規失業保険申請件数は減少、FRBの積極的な利下げ後
The number of initial claims for unemployment benefits announced by the US Department of Labor for the week ending September 21 decreased by 4,000 from the previous week to 0.218 million, reaching the lowest level since May. The number of continuing unemployment benefit recipients in the US as of September 14 increased to 1.834 million from 1.821 million. After the Federal Reserve Board (FRB) decided to significantly lower interest rates by 0.5% in September at the Federal Open Market Committee (FOMC), the number of initial unemployment insurance claims decreased again to nearly 50-year lows.

BTC rebounds to the $0.065 million range, surpassing the 200-day moving average; PayPal merchants now able to engage in virtual currency transactions.
Bitcoin (BTC) rebounded to the $0.065 million range, hitting a high not seen since the end of July. Surpassing the important milestone of the 200-day moving average level of $63,786, there is a possibility that it has entered a medium-term uptrend again. The US online payment company, PayPal, approving cryptocurrency transactions for business accounts of merchants may have also been seen as positive news.

「高市首相」なら株高・円安？！27日の自民党総裁選、有力3候補の経済政策を比較
The upcoming LDP leadership election on the 27th is reportedly narrowing down to three candidates according to various media outlets. The three candidates have significantly different stances on economic policies, and depending on who becomes the next prime minister, it is inevitable that it will also affect the stock market.

Another 'buy' reason for energy stocks preferred by Mr. Buffett
● Mr. Buffett is not the only one who favors energy stocks. Insiders of energy-related companies have been purchasing large amounts of shares over the past few weeks and holding onto them. The Bickers Insider Weekly has highlighted the energy sector as insiders' favorite for four out of the past five weeks as of September 16.
● The reason is that overall, energy stocks have significantly underperformed. However, this weakness is not necessarily permanent. "In the long run, this industry will grow," says Ben Cook, portfolio manager at Hennessy Energy Transition Investment. Energy companies have strengthened capital expenditure discipline, generating robust free cash flow. Much of this cash is being returned to shareholders through dividends and share buybacks. "Insiders are saying 'the investment value of these stocks has improved, so it's okay to take on the risk of the decline," Cook added.
Vickers highlights the following stocks that insiders are buying as well. $PBF Energy (PBF.US)$、 $Texas Pacific Land (TPL.US)$、 $Talos Energy (TALO.US)$、 $Matador Resources (MTDR.US)$、 $Comstock Resources (CRK.US)$、 $Global Partners (GLP.US)$、 $Hallador Energy (HNRG.US)$、 $HighPeak Energy (HPK.US)$、 $ProFrac Holding (ACDC.US)$、 $Granite Ridge Resources (GRNT.US)$