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Fed Chairman Jerome Powell. Photo: Chen Mengtong/China News Service/VCG via Getty Images

While the most talked-about news on Wall Street proved to be a downer, U.S. equities are poised to get a power boost from 2 big sources soon.

Driving the news: On Friday, the Fed announced plans to buy $60 billion of U.S. Treasury bills a month “at least into the second quarter of next year.”

Why it matters: Despite the central bank's insistence that the cash injections “do not represent a change” in its monetary stance, it will help boost market liquidity and help stave off a crunch analysts were predicting could torpedo the stock market later this year.

  • Fed funds futures prices also show traders see nearly a 78% chance the Fed cuts interest rates for the third time this year at its October meeting and a 27.5% chance of a fourth cut at its December meeting, according to CME Group's FedWatch tool. That would provide even more liquidity.

The market could also be buoyed by its old friend corporate buybacks. Companies increased buys of their own shares in the third quarter after a notable slowdown in the second.

  • Buybacks in Q3 were up 27% from their level in Q3 2018, analysts at Bank of America Merrill Lynch said in a note to clients. The biggest sector driver was health care companies, which reported "near-record weekly buybacks" last week, and buybacks overall "have remained stronger than usual ahead of earnings season."

Go deeper: Fed's Kashkari is sick of Wall Street's whining

Go deeper

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

Erica Pandey, author of @Work
3 hours ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

Wanted: New media bosses, everywhere

Illustration: Sarah Grillo/Axios

The Washington Post, Los Angeles Times, Reuters, HuffPost and Wired are all looking for new editors. Soon, The New York Times will be too.

Why it matters: The new hires will reflect a new generation — one that's addicted to technology, demands accountability and expects diversity to be a priority.