1. Japan stocks hit fresh record amid mixed trading in Asia after Fed cut rates as expected
Japan’s benchmark Nikkei 225 rose 1.15% to close at a fresh record of 45,303.43 Thursday, led by gains in the real estate and technology sectors The top movers were led by chemical company Resonac Holdings, which jumped more than 11%, semiconductor firm Sumco Corp, which added 7.39%, and Mitsui Mining & Smelting, which gained more than 5%. Other Asia-Pacific markets traded mixed after the Federal Reserve lowered its benchmark rate as expected on Wednesday, with Fed Chairman Jerome Powell framing the move as a “risk management cut,” rather than something more directed at shoring up a weak economy. The Fed also indicated two more rate cuts could be made by the year’s end, another in 2026, one more in 2027, and no cuts in 2028.
2. S&P 500, small-cap Russell close at all-time highs a day after Fed rate cut
Stocks closed at record highs on Thursday, with smaller equities seeing the biggest boost, as the Federal Reserve signalled this week it was embarking on an easing rate path, reinvigorating investors and raising hopes for a ratcheting up of economic growth. The S&P 500 closed up 0.48% at 6,631.96, while the Nasdaq Composite popped 0.94% to settle at 22,470.73. The Dow Jones Industrial Average added 124 points, or 0.27%, to close at 46,142.42. Each of the major U.S. indexes notched a fresh all-time intraday high on Thursday, just a day after stocks had a volatile trading session Wednesday in the wake of the Fed’s rate cut. The Russell 2000 small-cap index gained 2.4% and hit an intraday record. The benchmark last posted an all-time closing high in November 2021.
3. Gold gains on softer dollar after Fed delivers rate cut
Spot gold was up 0.2% at $3,667.12 per ounce. Prices hit a record high of $3,707.40 on Wednesday. U.S. gold futures for December delivery fell 0.5% to $3,701.00. The dollar pared recent gains and hovered near a two-month low, making gold less expensive for other currency holders. The benchmark 10-year Treasury yields also fell. The Fed reduced rates by 25 basis points on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year. Fed Chair Jerome Powell characterized the action as a risk-management cut in response to a weakening labour market, and said the Fed was in a “meeting-by-meeting situation” regarding the interest rate outlook. Traders are currently pricing in a 90% chance of another 25-basis point cut at the Fed’s next meeting in October, according to the CME Group’s FedWatch tool.
4. Oil prices dip as U.S. economic concerns outweigh Fed rate cut
Oil prices eased on Thursday as traders focused more on concerns about the U.S. economy than the start of looser monetary policy after the U.S. Federal Reserve cut interest rates for the first time this year. Brent crude futures fell 63 cents, or 0.9%, to $67.32 a barrel at 1:14 p.m. EDT (1714 GMT), while U.S. West Texas Intermediate (WTI) crude fell 66 cents, or 1.0%, to $63.39. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs over the rest of the year, responding to signs of weakness in the jobs market.
5. Trump hints at ‘good news’ coming on the Russia-Ukraine war
President Donald Trump indicated that a potential ceasefire between Russia and Ukraine could be close at hand Thursday, during a press conference with U.K. Prime Minister Keir Starmer. “The Russia situation, I hope we’re going to have some good news for you coming up,” Trump said at Chequers, the prime minister’s weekend residence in Aylesbury, England. “Millions of people have died in that war, millions of souls … They’re being killed, and I feel I have an obligation to get it settled for that reason,” said Trump. The president was speaking alongside Starmer at the conclusion of his three-day state visit to the U.K., which has been lauded as a great success by both sides. On Russia — and its President Vladimir Putin — however, the leaders’ comments were somewhat less effusive. “He’s let me down. He’s really let me down,” Trump said of Putin.
6. Bank of England holds rates steady, with a further 2025 cut hanging in the balance
The Bank of England voted to keep interest rates on hold on Thursday, as it weighs up sticky U.K. inflation with an uncertain growth outlook and jobs market. The monetary policy committee (MPC) voted by 7-2 to keep rates steady at 4%, with two members of the MPS in favour to reduce the separate benchmark “Bank Rate” by 25 basis points. The September decision to hold rates was widely expected, after the central bank last trimmed the key interest rate by 25 basis points in August. “The Committee remains focused on squeezing out any existing or emerging persistent inflationary pressures, to return inflation sustainably to its 2% target in the medium term,” the BOE said in a statement. Underlying disinflation has generally continued, the central bank noted. The British pound was broadly flat against the dollar following the announcement, at $1.3638.
7. Trump administration asks Supreme Court to allow firing of Fed Governor Lisa Cook
The Trump administration on Thursday asked the Supreme Court to lift lower court rulings that have blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook. The request came a day after Cook participated in a meeting of the Fed’s Federal Open Market Committee, which decided to cut its benchmark overnight lending rate by a quarter percentage point. “This application involves yet another case of improper judicial interference with the President’s removal authority — here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” Solicitor General D. John Sauer wrote in the Justice Department’s filing Thursday at the Supreme Court. Trump said on Aug. 25 that he was firing Cook from the seven-member Fed Board, citing allegations that she committed mortgage fraud in connection with two residences she owns.
8. China’s defence minister urges greater unity to avoid ‘law of the jungle’
China’s defence minister on Thursday urged greater efforts for global unity, warning against an increasingly divided world “defined by the rule of the jungle”. Speaking to formally open the Beijing Xiangshan Forum on security, Dong Jun said the world was overshadowed by Cold War thinking, hegemony and protectionism. “External military interference, seeking spheres of influence and coercing others to take sides will bring the international community into chaos,” Dong said, adding that the world was at another “crossroads” and had to choose dialogue over confrontation. Dong’s remarks contained several veiled swipes at the United States and appeared more hawkish than his speech to open last year’s forum.
9. BOJ holds rates as Japan core inflation dips to lowest since November 2024
The Bank of Japan kept its policy rate steady at 0.5% on Friday, in line with the forecast from a Reuters poll of economists. The decision to stand pat comes as Japan’s core inflation rate fell to its lowest since November 2024, coming in at 2.7% for August and marking a third straight month of decline. The core inflation figure — which strips out prices of fresh food — was in line with the 2.7% expected by economists. Headline inflation in the country also dropped to 2.7%, from 3.1% in July, marking a fresh low since November 2024. The so-called “core-core” inflation rate, which strips out prices of both fresh food and energy and is closely monitored by the Bank of Japan, was at 3.3%, down from 3.4% in July.
10. CrowdStrike pops nearly 13% on upbeat long-term guidance at investor day
CrowdStrike shares popped about 13%, a day after the cybersecurity firm issued better-than-expected long-term guidance at its investor day. The company on Wednesday said it expects net new annual recurring revenues to grow at least 20% in 2027, ahead of analysts’ expectations. CrowdStrike plans for ARR to hit $10 billion by 2031, and then double to $20 billion by 2036. Earlier this week, the firm said it was buying AI security platform Pangea and announced a partnership with Salesforce. “CrowdStrike is by far the most advanced security platform in the industry, and the plethora of AI-based solutions announced today will further separate CrowdStrike from the competition,” wrote Wells Fargo analyst Andrew Nowinski in a note following the event. Some Wall Street firms also boosted their price targets.
11.FedEx stock rises on better-than-expected earnings
FedEx beat on the top and bottom lines in its fiscal first-quarter earnings report on Thursday. The stock rose more than 5% in after-hours trading on Thursday. “Our earnings growth underscores the success of our strategic initiatives, as we are flexing our network and reducing our cost-to-serve, while further enhancing our value proposition and customer experience,” CEO Raj Subramaniam said in a statement. Average daily volumes in the U.S. saw an increase of 6% overall, the company reported. FedEx said segment operating results saw improvements this quarter due to higher domestic package volumes, but the FedEx Freight segment operating results fell due to lower revenue and higher wages.
12. Intel surges 22% after $5 billion Nvidia investment, posts best day in nearly 38 years
Nvidia said it will invest $5 billion in Intel as part of a deal to co-develop data centre and PC chips with the troubled chipmaker, which took on the U.S. government as an investor last month. Nvidia is investing its stake at a price of $23.28 a share, a release from the company said. Intel shares closed 22.8% higher to $30.57 following news of the deal. Intel posted its best day since October 1987. Nvidia shares closed 3.54% higher on Thursday. “This historic collaboration tightly couples NVIDIA’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosystem — a fusion of two world-class platforms. Together, we will expand our ecosystems and lay the foundation for the next era of computing,” said Nvidia CEO Jensen Huang in a release. Nvidia now joins Softbank and the U.S. government in supporting Intel’s turnaround.
13. Novo Nordisk shares pop 5% after Wegovy pill trial shows ‘significant’ weight reduction
Novo Nordisk said Wednesday that late-stage trial results for its once-daily obesity pill showed “significant” weight reduction and tolerability in line with its blockbuster Wegovy injection, as drugmakers race to get an oral treatment to market. Results from the phase 3 Oasis 4 trial showed the oral semaglutide pill led to average weight reduction of 16.6% after 64 weeks in patients with obesity or overweight and at least one weight-related comorbidity, the Danish pharmaceutical firm said. Shares jumped 5.4% by 10:23 a.m. London time (5:23 a.m. ET). The pill is currently under review with the U.S. Food and Drug Administration, having been submitted under a New Drug Application in February. A decision is due in the fourth quarter of this year. If approved, the company said the pill will be made fully in the U.S. It comes as global pharma firms have been ramping up their U.S. investments amid pressure from the Trump administration to bolster domestic production.
14. Trump says US may extend deadline on TikTok sale
U.S. President Donald Trump on Thursday said the United States was close to a deal with China to transfer ownership of social media platform TikTok to U.S. companies, but might extend a deadline for the divestiture of Chinese ownership. “We’re pretty close to a deal. We may do an extension with China but it’s an extension based on the same terms that we have right now, which are pretty good terms,” Trump said during a news conference with British Prime Minister Keir Starmer. Trump said he would discuss TikTok with Chinese President Xi Jinping on Friday. He signed an executive order on Tuesday delaying enforcement of a 2024 law requiring divestiture of Chinese ownership of TikTok until December 16.
15. Intellia stock rises after completing enrolment in Phase 3 HAE study
Intellia Therapeutics Inc stock rose 5.5% in premarket trading Thursday after the gene editing company announced it has completed enrolment in its Phase 3 HAELO study of lonvoguran ziclumeran for hereditary angioedema (HAE). The Cambridge, Massachusetts-based company completed enrolment within nine months, with nearly half of patients coming from the U.S. Intellia expects to report topline data from the study in the first half of 2026 and remains on track to submit a biologics license application (BLA) in the second half of 2026, targeting a U.S. launch in the first half of 2027. The company also plans to present additional data from the Phase 1/2 study in the fourth quarter of 2025.
16. Deliveroo CEO Will Shu to step down after DoorDash takeover
British food delivery firm Deliveroo said on Thursday founder and CEO Will Shu will step down once its takeover by U.S. rival DoorDash takes effect. U.S. meal delivery firm DoorDash in May agreed to buy Deliveroo in a deal valuing the British rival at about 2.9 billion pounds ($3.96 billion), banking on their combined reach and local expertise to take on competition. “I have decided that now is the right time for me to step down,” said Shu, who founded Deliveroo in 2013, alongside his childhood friend Greg Orlowski. A court hearing to approve the deal is expected to take place at the end of this month, with the deal set to become effective on October 2.
