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8/4
20:50
The S&P 500 recorded its 25th record close of the year, the first since June 2. The Nasdaq has rebounded nearly 10% from its low last week. The immediate catalysts for this rally include US Treasury Secretary Yellen's statement that a deal with Iran could be reached "today or tomorrow," which sent oil prices down about 6%, leading to a decline in inflation expectations and lower government bond yields. Additionally, the Magnificent Seven (Mag 7) tech giants surged nearly 10% in four days, with Amazon's market cap returning to $3 trillion and NVIDIA's market cap reclaiming $5 trillion, making a broad recovery in the tech sector the core driver of the index's breakthrough. Market sentiment quickly shifted from extreme pessimism to widespread buying, with short covering also contributing to the rally.
20:24
Japanese Government Bonds (JGBs) were mixed in early Tokyo trade, potentially tracking overnight price gains in U.S. Treasurys. JGB prices may also be buoyed by the ongoing decline in crude oil prices, which typically alleviates inflationary pressure in Japan and could reduce the urgency for the Bank of Japan to raise rates quickly. NAB senior economist Taylor Nugent noted that markets are looking for signs of progress towards a deal to reopen the Strait of Hormuz, which could impact oil prices.
20:21
Australia’s stock benchmark climbed to an intraday record on easing concerns over the US-Iran conflict and supportive signals in the domestic economy.
20:20
Schmid believes the current monetary policy stance is not restrictive, "given the strength of demand and investment," and that a tighter policy will be required to achieve the Fed's 2% inflation objective.
20:04
This sale marks the fourth tranche of Beijing’s 84 billion yuan sovereign bond program for the year, which was approved by the State Council.
19:41
The strikes occurred early Wednesday morning, following earlier attacks this week that killed at least 27 people in Ukraine and Russia. Kyiv Mayor Vitali Klitschko reported a 20-story residential building on fire in the Obolon district, while the city's military administration confirmed warehouse buildings were also ablaze in two districts, adding that "the danger remains high."
18:57
Trump claimed that the previous expansion of the Act by "unelected bureaucrats" constituted regulatory overreach, unfairly impacting Americans by hindering the production of oil, natural gas, and timber, as well as blocking the construction of homes and critical infrastructure. He added that even the military was unable to train on certain lands due to these restrictions, and asserted that the U.S. will now "BUILD again" while responsibly protecting the country.
18:37
Trump announced on Truth Social that he penned the foreword for Brian Pannebecker's new book. Pannebecker, who leads Autoworkers for Trump, has been a long-time supporter, and his book emphasizes the "Wisdom, Courage, and TARIFFS" necessary for the "Make America Great Again" agenda.
18:26
At a Senate Committee on Indian Affairs roundtable, Tehassi Hill, Vice Chairman of the National Indian Gaming Association, urged lawmakers to amend the CLEAR Act, a broad cryptocurrency legislation, to prevent "sports and casino gambling through prediction markets" and to clarify that these markets should be governed by state and tribal gaming laws, rather than the Commodity Futures Trading Commission (CFTC). Senator Tina Smith, a Democrat from Minnesota, also suggested that Congress could include similar provisions in either the CLEAR Act or the Farm Bill. Previously, CFTC Chairman Michael Selig has advocated for the agency's "exclusive jurisdiction" over emerging prediction markets, with the support of the Donald Trump administration. However, Senate Agriculture Committee Chairman John Boozman has opposed this, arguing that incorporating prediction market amendments into the CLEAR Act or the Farm Bill would complicate matters.
18:08
The institute stated that these AI tools undertook "potentially harmful activity directed at real people and organisations" during the security assessments, highlighting concerns over AI safety.
17:45
According to a filing with the U.S. Securities and Exchange Commission, BlackRock plans to implement a 1-for-3 reverse stock split for its Ethereum Trust ETF (ETHA) on October 6. This move will consolidate every three shares of ETHA into one, thereby increasing the fund's net asset value per share without altering the total value held by investors or the fund's assets. Bloomberg Senior ETF Analyst Eric Balchunas noted that this move is expected to reduce trading costs from approximately 7 basis points to about 2 basis points.

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