S&P futures are flat following a broadly lower Asia session. Bond pressure and semis selloffs led to sharp losses in South Korea, Taiwan, and Japan. Mainland China benchmarks were hit hard as well, though Hong Kong managed to close in the green. European markets are largely unchanged this morning.

Company Mentioned: Pilgrim's Pride

S&P futures are down (0.6%) and pointing to a lower open. Asian markets were mostly lower today. Japan benchmarks were sharply lower as tech names dragged. South Korea and Taiwan saw similar declines. Mainland China markets and Hong Kong pared morning losses but still closed in the red. Australia posted mild gains with mining giant BHP notably higher. European markets opened mostly lower today.

U.S. futures are mixed, with the Nasdaq pointing higher while the S&P 500 edges lower. Europe is set for a positive open for now. The U.S. dollar is slipping, treasury yields are lower at the long end but higher at the front end. Bonds mixed. US 10Y is 1 bp lower at 4.7%. Gilts down 3 bps. Bund is lower at 3%. Oil down, with WTI crude 0.7% lower under $82/bbl. Gold is up. Industrial metals are higher. Bitcoin is firmer. Strait of Hormuz standoff continues to underpin European energy risk pricing, but Q2 earnings have been supportive for regional markets. While markets have reduced Fed rate hike expectations, last Friday's backup in rates a point of focus. Analysts and financial press continue to discuss structural pressures, with high debt and borrowing and AI-related corporate supply.

Companies Mentioned: Coupang, Genco Shipping & Trading

US equity futures are modestly firmer, while Asian equities are mixed, and European equities are also mixed. Risk sentiment remains supported by lower Fed tightening expectations after softer-than-expected US producer inflation reinforced the disinflation narrative following the in-line CPI report. September rate-hike expectations have fallen to around 30% from 50% earlier in the week, while recent AI-related earnings remain supportive for technology sentiment. Meanwhile, there has been no diplomatic progress in the US-Iran situation, with the US sending another aircraft carrier to the region and Treasury Secretary Bessent flagging new economic measures against Iran next week.

Companies Mentioned: Carlyle Group

US equity futures are modestly firmer, while Asian equities are broadly higher and European equities are also modestly higher. Market sentiment remains supported by the in-line US inflation reading, which eased yields and reduced expectations for a September Fed rate hike. The AI trade is also firmer, supported by recent earnings and a positive corporate earnings outlook, while European macro data have generally surprised to the upside. Middle East developments remain a source of uncertainty, with little progress toward reviving the interim US-Iran peace agreement and traffic through the Strait of Hormuz remaining subdued.

Companies Mentioned: SHEIN, Ford Motor, AEVEX Corp

S&P futures are pointing to a slightly higher open ahead of the CPI data later today. In Asia, Japan, South Korea, and Taiwan were all higher on tech stock gains, though other regions were all lower. European markets are higher this morning.

Companies Mentioned: National CineMedia

S&P futures are flat following a quiet day in Asia. South Korea, Australia, and Taiwan all finished with modest gains. Hong Kong started strong but edged lower throughout the session, and Mainland China benchmarks were mixed. Japan was closed for a holiday. European markets opened mixed this morning.

Companies Mentioned: Riot Platforms, OpenAI, Intel, Amkor Technology

S&P 500 futures are flat. Treasury and JGB yields up one to two basis points along the curve. Crude is strengthening amid latest setback in Strait of Hormuz-reopening talks. Gold is steady while silver edging higher. Dollar is firming against majors, strongest against yen and Korean won. Bitcoin little changed. Efforts to reopen the Strait of Hormuz remain stalled following a series of hard-line demands from Iran. Although Foreign Minister Araghchi claims a deal with Oman is nearing completion, he stressed that reopening the strait depends on the U.S. paying billions in compensation, withdrawing regional forces, unfreezing assets, and lifting sanctions. The U.S. has dismissed these conditions as unacceptable, with President Trump indicating he is willing to continue the economic pressure campaign as long as gas prices remain stable.

Companies mentioned: Ashland, Trump Media & Technology Group, Paramount Skydance

S&P futures are indicating to a modestly higher open. Asian markets were mixed on Friday. Japan and South Korea struggled with continued declines in tech stocks, while China’s markets posted gains. Hong Kong inched higher as broader investor sentiment improved. European markets opened higher this morning.

Companies Mentioned: Sunoco, DoubleVerify, Meta Platforms

US equity futures are firmer, while Asian markets are mostly lower and European equities are modestly higher. Markets are being driven by a combination of earnings focus and improving geopolitical expectations, with headlines pointing toward a potential near-term agreement on the Strait of Hormuz supporting sentiment and easing energy concerns. At the same time, volatility in the semiconductor sector continues to weigh on Asia, while investors remain focused on corporate results and the broader AI trade following recent swings.

Companies Mentioned: Meta, Medicover, KKR, JPMorgan