Daily News – 4th Sep 26
Daily News
S&P 500 Notches Back-to-Back Gains as Waller Signals Fed Pause; Gold Nears $4,500, Oil Set for 10% Weekly Gain on Hormuz Tensions; Chinese AI Stocks Rally After OpenAI's Astra Launch
04 September 2026
Today in Brief
Equities extended gains Thursday as Treasury yields pulled back after Fed Governor Christopher Waller said he'd be "inclined" to support holding rates steady at the September meeting, with the S&P 500 up 1.06% to 7,747.71, the Nasdaq rising 1.4% to 26,584.06, and the Dow climbing 624.16 points to 53,686.11, its best day since Aug. 4. Asian markets opened higher Friday, led by Hong Kong's Hang Seng up 1.9%. Gold traded near $4,500 an ounce on Friday as Waller's dovish tone cut September rate-hike odds to roughly 50% from 63%, while crude oil climbed toward $92 per barrel, on track for a 10% weekly gain, as renewed US-Iran hostilities and disrupted shipping through the Strait of Hormuz kept energy markets on edge.
In other news: The EU formally joined the US-led sanctions campaign against Iran while South Korea weighed a military role to help reopen Hormuz; Canadian PM Mark Carney pushed back on Commerce Secretary Howard Lutnick's claim that Ottawa sabotaged trade talks; Vice President JD Vance added to pressure on the Fed to cut rates; Vladimir Putin floated a "chance" at peace with Ukraine as NATO's chief warned Russia is growing "increasingly reckless"; Chinese AI stocks including MiniMax and Baidu rallied after OpenAI launched its GPT-6 Astra model; Zscaler shares soared on a fiscal fourth-quarter earnings beat; Tesla began offering Cybercab rides in Austin, drawing US safety regulator attention; and Nvidia said Lenovo and Acer will launch the first RTX Spark-powered Windows AI PCs in October.
In Asia, markets opened higher Friday.
In Asia, markets opened higher Friday. South Korea's Kospi jumped 1.13%, Japan's Nikkei 225 added 0.74%, while Australia's S&P/ASX 200 was little changed. Hong Kong's Hang Seng Index gained 1.9% and the mainland China's CSI 300 rose 0.89%. U.S. stocks caught a tailwind as Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be "inclined" to support holding rates at their current target range of 3.5% to 3.75% at the central bank's Sept. 15-16 meeting.
S&P 500 posts back-to-back gains as Treasury yields retreat
Equities moved higher on Thursday, while Treasury yields pulled back, as investors grew hopeful that the Federal Reserve may leave interest rates unchanged this month. The S&P 500 rose 1.06% to end at 7,747.71, while the Nasdaq Composite rose 1.4% to 26,584.06. The Dow Jones Industrial Average climbed 624.16 points, or 1.18%, to 53,686.11. It was the best day since Aug. 4 for the 30-stock index. The benchmark 10-year Treasury note yield was last at 4.77%, declining after Federal Reserve Governor Christopher Waller said he'd be "inclined to support" holding rates steady barring any surprises in upcoming inflation data. On Wednesday, the yield hit its highest level since November 2023.
Gold traded near $4,500 an ounce on Friday after rising for two consecutive sessions
Gold traded near $4,500 an ounce on Friday after rising for two consecutive sessions, as dovish comments from Federal Reserve Governor Christopher Waller led markets to scale back expectations for a September rate hike. Waller said he would favor keeping rates unchanged if price pressures continue to ease. Traders now see roughly a 50% probability of a September rate hike, down from about 63% a day earlier. Investors are also awaiting Friday's payrolls report and next week's inflation data for additional clues on the Fed's policy outlook. The US dollar and Treasury yields fell sharply following Waller's remarks, supporting bullion. Meanwhile, oil prices were on track for a strong weekly gain amid ongoing hostilities in the Middle East and heightened uncertainty over shipping through the Strait of Hormuz, keeping inflationary risks in focus.
Crude oil climbed toward $92 per barrel on Friday and was on track for a gain of around 10% this week
Crude oil climbed toward $92 per barrel on Friday and was on track for a gain of around 10% this week, underpinned by renewed hostilities in the Middle East and growing uncertainty surrounding shipping through the Strait of Hormuz. The US carried out fresh strikes against Iran this week following roughly a month of relative calm, prompting Tehran to retaliate by targeting American bases in the region and vessels passing through Hormuz. Six commodity vessels transited the strait on Wednesday, down from 11 on Tuesday and compared with a 10-day average of nearly 13. Damage to refineries in the Middle East and Russia, coupled with limited capacity elsewhere to compensate for supply disruptions, is also expected to keep global fuel prices elevated into next year.
EU joins U.S. sanctions push on Iran as South Korea weighs Hormuz deployment
The European Union has formally joined the U.S.-led sanctions campaign against Iran, while South Korea said it's weighing a military role to help reopen the Strait of Hormuz, as Washington presses allies to back its war against Tehran on both the financial and military fronts. U.S. Treasury Secretary Scott Bessent praised the EU for signing on to "Operation Economic Outcast," the U.S.-led sanctions campaign aimed at severing Tehran from the global financial system. "We appreciate their strong and early stance," Bessent said in a social media post Thursday evening stateside. "The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed," he added.
Carney claps back at Lutnick, says Canada will resume trade talks 'when the Americans are ready'
Canadian Prime Minister Mark Carney on Thursday returned fire after Trump administration Commerce Secretary Howard Lutnick claimed Ottawa tanked trade talks with the U.S. for political purposes. "I don't think, with all respect, appointed, unelected Cabinet members in the United States are experts on Canadian politics," Carney said during a news conference in Thunder Bay in Northwestern Ontario. "We are always going to stand up for what's in the best interest of Canada," Carney said, after accusing the U.S. of making different claims about their red lines for a trade deal now that negotiations have been scrapped. But the prime minister maintained that a deal benefiting both Canada and the U.S. is possible. "We're ready to sit down and strike that deal when the Americans are ready," he said.
Vance says Fed should lower interest rates: 'Would be nice to have some help'
The Federal Reserve should cut interest rates to make homes more affordable, Vice President JD Vance said Thursday, adding to the pressure President Donald Trump has placed on the central bank to cut borrowing costs. The remarks came days after Trump's handpicked Fed chair, Kevin Warsh, hinted at the possibility of doing the opposite: addressing persistently high inflation by hiking rates. "Obviously the president cares a lot about interest rates," Vance said at a White House press briefing when asked by CNBC's Eamon Javers for the Trump administration's view on the volatile U.S. bond market. "One of the main reasons he cares a lot about interest rates is because he wants Americans to be able to afford a home," Vance said, referencing Trump. "When interest rates go higher, that means that borrowing costs are higher."
Putin floats 'chance' at peace with Ukraine as NATO chief warns Russia is becoming 'increasingly reckless'
Russian President Vladimir Putin suggested Thursday that there is a "chance" at "peace" with Ukraine, but repeated that Kyiv's warnings to airlines to avoid Russian airspace amounted to "state terrorism." "Ultimately...the problem must be resolved by the countries involved in the conflict – Russia and Ukraine," he said in translated remarks at the Eastern Economic Forum in Vladivostok, a city in Eastern Russia. "Is there a chance [at peace]? In my view, yes, there is." Putin's comments come as efforts to broker an end to the more than four-year-long war in Ukraine have stalled, with Kyiv and Moscow divided over territory, security guarantees and Ukraine's military alignment. Ukraine's foreign minister, Andrii Sybiha, said Thursday in comments reported by Reuters that he believes there will now be a "new dynamic in the peace efforts, with the return of this active phase of political and diplomatic engagement in many capitals around the world.
Chinese AI stocks rise after OpenAI launches Astra; MiniMax jumps 6%
Chinese artificial intelligence stocks rose on Friday after OpenAI launched its latest model, GPT-6 Astra, extending a recent rally in the sector as investors assessed the implications of faster advances in AI capabilities. MiniMax shares rose 6.5% to HK$378, while Baidu gained 4.6%, Kuaishou Technology advanced 4.2%, JD.com climbed 4.1% and Xiaomi rose 3.9%. Z.AI, also known as Zhipu AI, rose marginally HK$1,108. The gains came a day after OpenAI released Astra, which it describes as its most capable model to date. The model is designed to perform complex tasks directly within computer and browser environments, including software development, research and other professional work, strengthening the push toward more autonomous AI agents. The launch provided a fresh read-through for Chinese AI developers as investors continue to assess the commercial potential of large language models and AI-agent services.
Zscaler stock rises on earnings beat, upbeat guidance
Zscaler stock soared on Thursday after the cloud security company beat Wall Street's fiscal fourth-quarter estimates as rising artificial intelligence risk spurred urgent demand for cyber tools. Here's how the company performed compared to LSEG estimates: Earnings per share: $1.19 adjusted vs. $1.09 expected Revenue: $898 million vs. $877 million expected Revenue jumped 25% from about $719 million last year. Zscaler reported a net loss of $3.4million, a loss of 2 cents per share, up from a net loss of $17.6 million, a loss of 11 cents per share, a year ago. CEO Jay Chaudhry highlighted the adoption of the company's Zero Trust cloud security architecture and innovative technology as driving forces behind the quarterly beat.
Tesla starts Cybercab rides in Austin, drawing US safety agency interest
Tesla said on Thursday it was offering rides in "limited areas of Austin, Texas" in its two-seater Cybercab, a vehicle without a steering wheel or pedals, with the U.S. auto safety agency responding that it was evaluating the effort. CEO Elon Musk has said the Cybercab is key to transforming Tesla into a dominant force in driverless vehicles. Tesla in recent weeks has promoted what it called an exclusive "Cybercab launch event" in Austin on Thursday, drawing interest from investors and fans, some of whom came to Texas to try out the golden, butterfly-door cars. Musk himself skipped the event, attendees said, and remarks from executives on pricing plans, manufacturing and technology lasted only about a quarter of an hour, according to videos posted after the event.
Nvidia sets October launch for RTX Spark AI PCs
Nvidia on Thursday said Lenovo and Acer will launch the first Windows PCs powered by its RTX Spark chip in October, as the chip giant pushes to bring AI capabilities directly to laptops and desktop computers. Tech giants are increasingly pushing for on-device AI to cut the cost of cloud-based services, while improving privacy and responsiveness by processing tasks locally on users' devices. Here are some more details: The chip giant said Acer and Lenovo would join a growing list of manufacturers launching systems powered by the RTX Spark chip, which combines a Blackwell graphics processor with a Grace central processor. Nvidia unveiled the RTX Spark in June as part of a partnership with Microsoft to "reinvent the PC" for the AI era after three years of collaboration between the companies. The chip was developed in collaboration with Taiwan's MediaTek.
