1. Asia-Pacific markets mostly higher after Trump formalizes lower Japanese auto tariffs
Asia-Pacific markets traded higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%, down from 27.5%. The order also confirmed the agreement for $550 billion of Japanese investments in U.S. projects. Japan’s Nikkei 225 jumped 1.03% to close at 43,018.75, and the Topix added 0.82% to end the trading day at 3,105.31 after the country’s July household spending rose 1.4% year over year. South Korea’s Kospi climbed 0.13% to end the trading day at 3,205.12, while the Kosdaq jumped 0.74% to close at 811.4. Australia’s S&P/ASX 200 rose 0.51% to close at 8,871.2. Hong Kong’s Hang Seng Index climbed 1.41%, while the mainland CSI 300 rose over 2% to 4,460.32.
2. Stocks closed lower as slowing labour market boosts rate cut hopes but fans economic fears
Stocks closed lower on Friday after a weaker-than-expected U.S. jobs report gave way to worries about a slowing U.S. economy, even as expectations for a Federal Reserve rate cut were solidified. The S&P 500 finished the day down 0.32% at 6,481.50, while the Nasdaq Composite declined 0.03% to settle at 21,700.39. The Dow Jones Industrial Average closed down 220.43 points, or 0.48%, at 45,400.86. All three leading indexes had reached fresh record intraday highs earlier in the session. At their peaks, the broad market index, the tech-heavy Nasdaq and the blue-chip Dow were up about 0.5%, 0.8% and 0.3%, respectively. The report supported expectations for at least a quarter-point rate cut by the Fed at its meeting later this month. Traders also put a half-point rate cut into play, per the FedWatch tool.
3. Gold nears record $3,600/oz level as weak U.S. jobs data fuels rate-cut bets
Gold’s powerful rally took on fresh legs on Friday, with prices just cents away from $3,600 per ounce, as weak U.S. jobs data further raised expectations for bullion-supportive Federal Reserve rate cuts. Spot gold was up 1.4% at $3,596.55 per ounce, having hit a record $3,599.89 earlier. The metal is now on track for its strongest weekly gain in nearly four months. U.S. gold futures for December delivery settled 1.3% higher at $3,653.30. Bullion has surged 37% so far this year after a 27% gain in 2024 – driven by U.S. dollar weakness, central bank buying, a softening monetary policy backdrop and wider geopolitical and economic uncertainty. Data showed U.S. job growth weakened sharply in August while the unemployment rate increased to 4.3%, confirming that labour market conditions were softening.
4. OPEC+ agrees on a further oil output boost in October to regain market share
OPEC+ has agreed to further raise oil production in October as its leader, Saudi Arabia, pushes to regain market share, while slowing the pace of increases compared with previous months due to an anticipated weakening of global demand. OPEC+ has been increasing production since April after years of cuts to support the oil market, but the Sunday decision to further boost output came as a surprise amid a likely looming oil glut in the northern hemisphere winter months. Eight members of OPEC+ agreed on Sunday in an online meeting to raise production from October by 137,000 barrels per day, it said in a statement, much lower than the monthly increases of about 555,000 bpd for September and August and 411,000 bpd in July and June.
5. Payrolls rose 22,000 in August, less than expected in further sign of hiring slowdown
Job creation sputtered in August, adding to recent signs of labour market weakening and likely keeping the Federal Reserve on track for a widely anticipated interest rate cut later this month. Nonfarm payrolls increased by just 22,000 for the month, while the unemployment rate rose to 4.3%, according to a Bureau of Labor Statistics report Friday. Economists surveyed by Dow Jones had been looking for payrolls to rise by 75,000. The report showed a marked slowdown from the July increase of 79,000, which was revised up by 6,000. Revisions also showed a net loss of 13,000 in June after the prior estimate was lowered by 27,000. While the pace of hiring was slow, average hourly earnings increased 0.3% for the month, meeting the estimate, though the annual gain of 3.7% was slightly below the forecast for 3.8%.
6. Japan Prime Minister Ishiba Shigeru says he will step down after election setback
Japan’s Prime Minister Shigeru Ishiba announced Sunday he will step down as leader of the world’s fourth-largest economy amid growing political discord within his party. “I made a difficult decision to step down,” Ishiba said during a press briefing, in comments translated by Japan’s public broadcaster NHK. He added that it is his “strong wish” for members of his Liberal Democratic Party (LDP) to overcome the “difficult divide” within the party. Ishiba indicated that he had been thinking about his position as prime minister since last year’s election, but that it was a matter of finding the right timing. Ishiba described the U.S. tariff measures as a “national crisis.”
7. Postal traffic to the U.S. sank 80% after Trump administration ended exemption on low-value parcels
Postal traffic into the United States plunged by more than 80% after the Trump administration ended a tariff exemption for low-cost imports, the United Nations postal agency said Saturday. The Universal Postal Union says it has started rolling out new measures that can help postal operators around the world calculate and collect duties, or taxes, after the U.S. eliminated the so-called “de minimis exemption” for lower-value parcels. Eighty-eight postal operators have told the UPU that they have suspended some or all postal services to the United States until a solution is implemented with regard to U.S.-bound parcels valued at $800 or less, which had been the cut-off for imported goods to escape customs charges. Before the measure took effect, the postal union sent a letter to U.S. Secretary of State Marco Rubio to express concerns about its impact.
8. Trump threatens trade probe after ‘discriminatory’ EU fines against Google, Apple
President Donald Trump on Friday threatened to launch a trade investigation to “nullify” what he said were discriminatory fines being levied by Europe against U.S. tech firms such as Google and Apple. “We cannot let this happen to brilliant and unprecedented American Ingenuity and, if it does, I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies,” Trump wrote on Truth Social. He issued the threat hours after Google caught a nearly $3.5 billion penalty from the European Union in a major antitrust case centered on the search giant’s advertising technology business. The post also came the day after Trump hosted a dinner at the White House with a gaggle of top tech executives, who took turns praising the president.
9. China exports growth in August hits 6-month low, missing expectations
China’s exports growth missed expectations in August as businesses’ front-loading activity aimed at avoiding higher U.S. tariffs lost momentum, while imports also grew less than expected as domestic demand stays weak. Exports climbed 4.4% in August in U.S. dollar terms from a year earlier, customs data showed Monday, marking the lowest level since February while missing economists’ estimates for a 5.0% rise. That growth slowed from the prior two months, in part reflecting the statistical effect of a high base last year when China’s exports grew at their fastest pace in nearly one-and-a-half years. Imports rose 1.3% last month from a year ago, missing Reuters estimates for a 3% growth. Imports rose for a third straight month after returning to growth in June, albeit still muted due to the persistent real estate slump, rising job insecurity, among other things. China has increasingly relied on alternative markets, particularly Southeast Asia and European Union nations, Africa and Latin America, as U.S. President Donald Trump’s trade policy has pressured U.S.-bound shipments.
10. Russia launches record mass drone attack on Ukraine
Russian forces launched the largest mass aerial attack on Ukraine since their full-scale invasion, firing more than 800 drones and a dozen missiles at targets across the country. A building housing the cabinet of ministers in the centre of Kyiv was struck for the first time during the war, a rare hit on a government building that foreign minister Andriy Sybiha called “a serious escalation”. Two high-rise residential buildings were also damaged. The attack during the early hours of Sunday morning killed four people and targeted the cities of Kryvyi Rih, Dnipro, Odesa, Zaporizhzhia and Kremenchuk. Russia fired 805 Shahed one-way attack drones or decoy drones, nine cruise missiles and four ballistic missiles, Ukraine’s air force reported. Ukrainian air defence teams intercepted 747 drones and four of the cruise missiles.
11. Halliburton reduces workforce as oil activity slumps
U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more than 10% this year amid uncertainty over global trade policies and as the Organization of the Petroleum Exporting Countries and allies raise output. U.S. oil company ConocoPhillips this week announced it would cut up to 25% of its staff to reduce costs. The scope of Halliburton’s layoffs was not immediately clear.
12. Alibaba stock rises as company launches trillion-parameter AI model
Alibaba Group Holdings Ltd ADR stock climbed 2.3% Friday after the Chinese tech giant announced the release of its largest artificial intelligence model to date, featuring over one trillion parameters. Alibaba reported that internal testing and early user feedback have confirmed the new AI model’s enhanced capabilities, including stronger overall performance, broader knowledge base, and improved conversational abilities. The company also highlighted the model’s advanced proficiency in handling agentic tasks and following instructions. The positive market reaction suggests investors view this AI advancement as a significant step for Alibaba as it competes in the rapidly evolving global artificial intelligence landscape.
13. Broadcom shares jumped 15% on Friday, as $10 billion chip deal shows AI strategy paying off
Broadcom shares jumped 15% on Friday after the chipmaker unveiled a blockbuster $10 billion AI chip order from a new customer, fuelling optimism around its ability to benefit from the generative AI race. The deal solidifies the company’s role as a leading custom chip provider amid Big Tech’s push to diversify beyond Nvidia’s pricey and supply-constrained artificial intelligence processors. The latest chip order could help reinforce investors’ confidence in the AI rally, which has shown signs of sputtering this year. Broadcom’s shares are 32% higher this year after more than doubling in value last year. If gains hold, the chipmaker would add more than $200 billion to its $1.44 trillion market valuation, after crossing the trillion-dollar valuation last year. Broadcom’s latest deal has fuelled speculation that OpenAI is the unnamed customer. OpenAI has so far used chips from Nvidia and AMD to power its AI models. Shares of Nvidia and its smaller rival AMD, which provide off-the-shelf chips, fell 2% and 5% respectively.
14. Tesla offers mammoth $1 trillion pay package to Musk, sets lofty targets
Tesla’s board has proposed a $1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse. The world’s richest person has consistently asked for a bigger stake in the company to gain more control, even as a legal battle over his 2018 pay package – then valued at a mere $56 billion – continues. The newly proposed award is roughly 18 times the size of the contested plan and is close to the company’s current market valuation. The proposal highlights the board’s confidence in Musk’s ability to steer the company in a new direction while reigniting growth, even as it loses ground to Chinese rivals in key markets amid softening EV demand.
15. AppLovin and Robinhood added to S&P 500
Shares of advertising technology company AppLovin and stock trading app Robinhood Markets each jumped about 7% in extended trading on Friday after S&P Global said the two will join the S&P 500 index. The changes will go into effect before the beginning of trading on Sept. 22, S&P Global announced in a statement. AppLovin will replace MarketAxess Holdings, while Robinhood will take the place of Caesars Entertainment. In March, short-seller Fuzzy Panda Research advised the committee for the large-cap U.S. index to keep AppLovin from becoming a constituent. AppLovin shares dropped 15% in December, when the committee picked Workday to join the S&P 500. Robinhood, for its part, saw shares slip 2% in June when it was excluded from a quarterly rebalancing of the index.
16. Docusign raises FY2026 guidance after big Q2 win, shares soar
Shares of DocuSign Inc soared more than 8% in premarket trading Friday after the company posted stronger-than-expected second-quarter earnings and unveiled an optimistic full-year (FY) forecast. Investors rallied behind a combination of solid core performance and expanding adoption of DocuSign’s AI-enhanced Intelligent Agreement Management (IAM) platform. For the fiscal second quarter ended July 31, DocuSign reported adjusted earnings of $0.92 per share, beating Wall Street’s consensus forecast by 7 cents. Revenue climbed 9% year-over-year to $800.6 million, also exceeding Street expectations for $779.78 million. Billings, a key indicator of future revenue, rose to $818 million, up 13% from the year-ago period.