US equity futures are flat. Asia ended broadly higher, and European equities opened mostly firmer. Focus remains on US monetary policy as August CPI showed a hotter headline but core inflation in line, reinforcing expectations for a 25 bp rate cut at next week’s Fed meeting; Weekly jobless claims rose to their highest since 2021, adding to signs of labor market softening and helping markets price ~70 bp of cuts through year-end; On trade, the EU is unlikely to impose new tariffs on China and India over Russian crude purchases despite US pressure, though talks continue with Switzerland, Taiwan, and India; Overseas, ECB left rates unchanged, and political headlines included UK PM Starmer facing scrutiny after sacking US ambassador Mandelson, and French opposition leader Le Pen signaling willingness to work with PM Lecornu.

Companies Mentioned: PepsiCo, ITC Ltd, +OpenAI, Nvidia, Microsoft

US equity futures are firmer. Asia traded mixed, and European equities opened higher. Focus today is on the US August CPI, expected to show steady core inflation after a softer PPI reading; AI remained a key driver after Oracle’s strong results and OpenAI computing deal added to optimism, alongside TSMC’s robust August revenue growth; Trade tensions persisted as the EU weighed sanctions on Chinese refiners, Mexico prepared tariffs of up to 50% on some Asian imports, and Trump signaled progress toward talks with India’s Modi; In Europe, attention was on the ECB, expected to hold policy steady with inflation near target, while the UK RICS survey showed a sharp fall in housing activity which was blamed on speculation on property tax change ahead of the budget.

Companies Mentioned: First Internet Bancorp, Blackstone, Woodside Energy Group, Starbucks

Riding on momentum from Tuesday’s fresh record highs, S&P futures are up +0.3% and pointing to another higher open. Asian markets closed broadly higher, led by the Hang Seng’s +1% gain and the Kospi nearing its record high. European equity markets are also firmer in early trades with major benchmarks all edging higher. AI expansion continues to drive positive sentiment in the tech sector, with Asian semis stocks benefiting from a rally in US peers. Oracle surged +28% after reporting strong growth in cloud infrastructure bookings, while Google Cloud shared a bullish update, projecting that at least 55% of its $106B in customer commitments will convert to revenue within two years.

Companies Mentioned: KKR, Airbus, Oracle, Google, Chevron

S&P futures are up +0.2% and pointing to a higher open. Asian markets closed mixed today following yesterday's broad rallies. European markets are narrowly mixed in early trades. The US has proposed annual site licenses for Samsung and SK Hynix to export chipmaking supplies to their factories in China. This comes after the revocation of VEU waivers under the Trump administration, which previously allowed perpetual approvals for estimated supply quantities.

Companies Mentioned: Brighthouse Financial, Tourmaline Bio, OpenAI

S&P futures are up +0.2% and pointing to a higher open. Asian markets closed mostly higher on Monday. Japanese Prime Minister Ishiba announced his resignation following his party's upper house election defeat and recent trade tensions with the US. Markets responded predictably, with a weakened yen reversing its recent rally and equities rising sharply on expectations of increased fiscal stimulus. The Nikkei 225 hit a record high. European markets are also firmer in early trades.

Companies Mentioned: Premier, OpenAI, Seres Therapeutics

US equity futures are firmer. Asia ended mostly higher, and European markets opened firmer. Focus is on the US August nonfarm payrolls report, expected to show another sub-100K print with unemployment rising to its highest since mid-2023; Softer labor market signals earlier in the week and dovish-leaning remarks from Fed Chair Powell have led markets to fully price in a September rate cut with another by year-end; President Trump signed an executive order implementing the US-Japan trade agreement, formally setting a 15% tariff that extends to autos and avoids tariff stacking. Japan pledged more rice imports and an annual agricultural purchase commitment alongside its $550B investment package.

Companies Mentioned: Cadence Design Systems, Hexagon, Broadcom, OpenAI, Starbucks

US equity futures are slightly firmer. Asia ended mixed, and European markets opened mostly firmer. The market focus today is Fed easing expectations strengthened with September cut odds above 95% following weak JOLTS data, while Governor Waller reiterated support for cuts and Bostic and Kashkari flagged tariff-related inflation risks; Markets continued to track bond market stabilization after recent yield volatility, with the US 10-year holding steady following Wednesday’s rally; Political focus in the US turned to Fed independence, with Senate GOP signaling opposition to replacing Governor Cook until her legal status is settled; In Asia, regulators were reported to be weighing measures to curb speculation in Chinese markets.

Companies Mentioned: Apple, Alphabet, Exxon, DigitalBridge Group

S&P futures are currently up +0.3% and pointing to a higher open today. Asian equities were mixed, with notable declines in Greater China and Japan, while South Korea and Taiwan posted gains. European equity markets are firmer in early trades with major benchmarks all advancing. The JGB 30-year yield hit a record 3.285%, driven by a global selloff in ultralong bonds amid fiscal debt concerns. The 30-year gilt yield also reached its highest level since 1998.

Companies Mentioned: Google, Aon, TSMC

US equity futures are slightly weaker. Asia ended mixed, and European markets are softer. Focus is on upcoming US data with ISM, JOLTS, ADP, and nonfarm payrolls due this week following July PCE inflation in line with expectations; Fed Governor Waller reiterated support for a September 25 bp cut and signaled more easing over the next three to six months; Trump repeated claims India offered to cut tariffs to “nothing,” though no details of resumed talks; SCO summit in China reinforced anti-US optics with Modi appearing alongside Xi and Putin; In Europe, political risks rose as French PM Bayrou faced pressure and far-right National Rally positioned for new elections.

Companies mentioned: Alibaba Group, Chevron

US equity futures are slightly weaker. Asia ended mixed, and European markets are softer. Focus remains on US core PCE inflation due Friday, with expectations for a modest monthly rise; Fed Governor Waller dissented from the decision to leave rates unchanged at the July FOMC meeting in favor of a rate cut; US Q2 GDP was revised higher, supported by stronger consumer spending and lower imports; EU offered to scrap tariffs on US industrial goods and provide preferential access to certain food exports, while the US extended China tariff exclusions through November; Fed Governor Cook filed suit against President Trump contesting her dismissal, with the first court hearing scheduled for Friday.

Companies Mentioned: Apple, Sapporo Holdings, Spirit Aviation, Frontier Group