Within industries tracked by moomoo, banks fell Tuesday after news that the Fed may require 9% capital reserves at the largest banks, higher than June's rumor of 5%, but below the 19% originally put forward. The news came in from the Federal Reserve Vice Chair for Supervision, Michael Barr, according to Seeking Alpha.

$JPMorgan (JPM.US)$ fell 7% intraday, the lowest on the Dow Jones,  $Discover Financial Services (DFS.US)$ fell nearly 4%,  $Goldman Sachs (GS.US)$ fell 4.6%.

Within indexes, tech held the Nasdaq higher while the S&P 500 and Dow struggled with bank reserve news.

Just past 11:21 am ET the     $S&P 500 Index (.SPX.US)$ climbed 0.06%, the        $Dow Jones Industrial Average (.DJI.US)$ fell 0.47%, and the     $Nasdaq Composite Index (.IXIC.US)$ climbed 0.30%.

This week in macro, investors are waiting for Wednesday's Core CPI numbers for August. PPI and initial jobless claims will be released on Thursday.

Last week, just before the blackout began in the lead-up to the FOMC September 17-18th rate decision meeting, investors also got word from New York Fed President John Williams Friday that it is time to cut rates.

Speaking toward the Council on Foreign Relations, Williams said the economy is balanced, and inflation is tracking lower, and "it is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate."

Last Friday, the economy added 142k nonfarm payrolls last week, and the Unemployment rate landed at 4.2% in August, according to the Bureau of Labor Statistics. Payrolls were below expected by 20k, but fit the narrative of softening labor in the U.S. that investors have come to expect.

Tonight is the first debate between Former President Trump and Vice President Harris, we will watch it live somewhere on moomoo.

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Yesterday, one user pointed out a small stock $Wheeler Real Estate Investment Trust Inc (WHLR.US)$ that rocketed from $1 to $12 in just 36 hours.

Traders, have you seen crazy stock moves like that? Is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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