The Fed meeting, pressure on Oracle, Target's fashion-forward renovation and more in Morning Squawk

As investors prepare for today's pivotal Federal Reserve meeting, all eyes are on the anticipated interest rate decision from Chair Jerome Powell. Despite widespread expectations of a rate cut, market participants remain cautious, refraining from significant stock investments ahead of the announcement. Following Powell's press conference, attention will swiftly shift to Oracle, which is set to unveil its second-quarter earnings. The technology giant faces mounting pressure to demonstrate its capacity to support ambitious infrastructure initiatives. With Oracle positioning itself as a frontrunner in the artificial intelligence sector, the stakes are high for the company to validate its growth narrative driven by AI innovations. In premarket trading, Oracle's shares have shown little fluctuation, maintaining over a 30% increase this year, despite experiencing their largest monthly decline in two decades last month. In the pharmaceutical arena, major companies are making significant investments in the obesity drug market. Eli Lilly recently announced plans to invest $6 billion in a new manufacturing facility in Huntsville, Alabama, aimed at supporting its experimental obesity medication alongside other products. This facility marks the third such investment to boost domestic production. Meanwhile, Pfizer has struck a $2.1 billion licensing deal with YaoPharma to develop and commercialize its obesity drug, further solidifying its push into this lucrative sector after acquiring Metsera last month. In another development, millions of student loan borrowers may soon face a return to payments after a prolonged pause. The Department of Education revealed a proposed settlement that would require those in the Biden-era Saving on a Valuable Education (SAVE) plan to choose a new repayment option. This proposal emerges as new statistics indicate that 42% of borrowers are struggling to manage basic needs like food and housing due to their loan obligations, and more than half report that their debt hampers retirement savings. Target is making strides to enhance its brand image as a trendy retail destination, particularly with a recent renovation of its SoHo store in New York City. This revamped location features rotating merchandise, a beauty bar, and curated displays from celebrities and influencers. Incoming CEO Michael Fiddelke describes the store as a significant indicator of Target's evolving style and future direction, as the company seeks to recapture consumer spending during the holiday season. The redesign took four months to complete, emphasizing Target's commitment to staying relevant in a competitive market. Finally, Vietnam's stock market is witnessing impressive growth, with the VanEck Vietnam ETF significantly outperforming broader emerging market indices. As reports suggest, this upward trend may only be the beginning for Vietnam's economic landscape.