Last updated: September 7, 2026, 6:53 AM ET
Global Equities
Asian equities climbed Monday as a fresh wave of AI optimism helped offset rising crude prices, with the region’s benchmark index advancing despite the drag from energy costs. Japan’s Nikkei 225 rose 1.8% in early trade, led by chip-related stocks on continued hopes for artificial intelligence-driven demand and signs of U.S. economic strength. The broader Topix index gained less as concerns about the yen and rising bond yields limited risk appetite. Emerging-market equities jumped to a two-month high as optimism over new AI models boosted heavyweight technology stocks, countering the drag from higher oil prices on sentiment.
Goldman Sachs strategist Timothy Moe is standing by his bullish target for South Korean stocks, arguing investors underestimate how long the AI boost for the nation’s memory chipmakers will last — he sees 80% upside. The South Korean won advanced to its strongest level in nearly two years, helped by a rally in semiconductor stocks and continued foreign inflows into the benchmark Kospi index. The Philippine peso, by contrast, is being left behind as the oil shock erodes dollar reserves, pushing the currency to a record low.
Oil and Commodities
Oil prices climbed in Asian trade Monday morning as escalating tensions in the U.S.-Iran conflict stoked concerns over potential supply disruptions in the Middle East. Brent crude, the global benchmark, was up about 1% as trading resumed, while the U.S. national average gas price was nearly $4.15 a gallon. Crude gained further after U.S. attacks on Iranian tankers and Tehran’s threat of a new restricted zone outside the Strait of Hormuz, raising concerns about prolonged disruptions to energy flows through the waterway. War-tested oil traders are descending on Singapore for the region’s main industry gathering, with $100-per-barrel crude beckoning amid fresh supply risks.
OPEC+ nations stuck with their plan to keep production quotas unchanged for October, the cartel’s decision coming after six straight monthly increases. The move followed the resumption of U.S. and Iranian military strikes in the Persian Gulf, with the group holding output steady despite vast swathes of Middle East production being shuttered by the conflict. A rebound in Chinese oil buying is driving up prices of African, Canadian and Latin American crudes as refiners range farther afield for alternatives amid the Strait of Hormuz disruptions.
Iron ore broke above $100 a ton for the first time in seven weeks as traders unwound bets favoring coking coal, adding to support from expectations for pre-holiday restocking in China. Gold fell in early Asian trade, with the precious metal facing near-term headwinds including the risk of sticky U.S. inflation data this week that could reinforce expectations of a rate hike. Bullion extended its decline as stronger-than-expected U.S. jobs growth and rising Middle East tensions raised prospects for an interest-rate increase as early as next week.
Fixed Income and Currencies
Eurozone government bond yields rose in early trade as oil prices increased and investors focused on the European Central Bank’s interest-rate decision on Thursday. European bonds are being hit by fears of an energy shock and political risk, with spiraling gas prices accelerating a selloff that is the steepest among major economies in recent weeks. The FTSE 100 live blog tracked European bonds falling as oil rose, with gilts, BTPs and OATs all under pressure.
Bond traders are bracing for more swings at both ends of the U.S. yield curve, with potential catalysts in the week ahead that may trigger big moves for both short- and long-term securities. The forces encouraging yields to move upward are unlikely to disappear, though at least markets are back in the ballpark of normal again. America’s debt binge is starting to matter: if long-term interest rates decisively breach the 5% threshold, the impact could derail the AI boom. The UK Debt Management Office is considering switch auctions for long gilts, raising questions about whether it could take the Bank of England’s holdings off their hands.
Japan likely sold a portion of its holdings of foreign securities, including U.S. Treasuries, to finance its record currency intervention over the past month, despite concern in Washington over the impact. Asian currencies consolidated against the dollar but may be weighed by Fed rate-hike prospects. President Donald Trump called Canada’s currency dollar imbalance with the U.S. “unacceptable” in a Truth Social post. Malaysia’s bonds lured record inflows of $3.9 billion in August on optimism over the impact of the AI boom on the Southeast Asian economy.
Corporate News
Jaguar Land Rover, owned by Tata Motors, is opening a voluntary redundancy program for salaried and management team members as it targets over $2 billion in savings. The British carmaker’s plans could involve up to 4,000 job cuts as Chinese rivals pile on pressure, posing a fresh challenge to UK Prime Minister Andy Burnham. Essilor Luxottica has overhauled its management after a rift with the founder’s son, with CEO Francesco Milleri reshaping the senior team at the Milan-based eyewear group.
Apollo Global Management’s Singapore-based partner Gaurav Pant, a key member of the company’s hybrid strategy in Asia, is departing the firm after 18 years, according to people familiar with the matter. Wealth management software company FNZ, the Credit Suisse spinout, is haemorrhaging cash after a $14 billion loss and is once again asking investors for help as it plots U.S. expansion and a return to profitability. A Guggenheim unit was warned over internal controls by KPMG, according to a report.
Apple’s John Ternus faces his first big test: selling a $2,000 foldable iPhone. The smartphone maker needs to raise prices across its device range to make up for rising costs. China has pumped $53 billion into banks and insurers, widening its recapitalisation plan to more state-controlled institutions in a bid to boost financial performance. BlackRock and JPMorgan are betting on emerging-market bonds amid the turmoil seizing global government bond markets.
Political and Policy Developments
Germany’s far-right AfD surged to first place in state elections, trouncing its rivals but falling short of a majority in Saxony-Anhalt, a result that shocked Germany. The Alternative for Germany just missed a majority in the crucial state election and is left unsure if it will be able to govern. Germany’s massive injection of government stimulus has failed to lift investor confidence in markets, as even billions in spending can’t address all investor concerns.
The starting gun has been fired on the autumn election campaign season, with Republicans gathering in Dallas, the 25th anniversary of 9/11 approaching, and the ECB interest-rate decision on the calendar. New Hampshire Democrats are sounding an alarm, with the likely Democratic nominee Chris Pappas anticipating a tough race against well-known opponent John E. Sununu in a state that hasn’t elected a Republican to the Senate since 2010. An armed man was arrested after charging toward Democratic candidate for Ohio governor Dr. Amy Acton; authorities said he had two pistols and a Taser but did not draw his weapons.
U.S. envoys Steve Witkoff and Jared Kushner arrived in Kyiv and met with Volodymyr Zelensky, a day after talks with Vladimir Putin in Moscow. Rudy Giuliani called for Mahmood Mamdani to skip the 9/11 memorial ceremonies during an anti-Muslim diatribe, while the former mayor has said he is going. President Trump has made peace with Michael Cohen, his onetime lawyer who turned against him, but contrary to Trump’s claims, Cohen has not recanted the testimony that helped convict his former boss.
Deals and M&A
Tax losses have become a hot property in sports M&A: should BC Partners win the LIV Golf auction, it will be in possession of tax-offsetting firepower. A contentious Venezuela-U.S. oil deal risks violating local law, according to a leading opposition politician and analysts who say the agreement may conflict with the Venezuelan constitution. South Africa’s telecommunications regulator plans to investigate prices charged by digital media and communications service providers such as Netflix and Meta Platforms’ WhatsApp.
First-day gains in India are swelling as investors pile into newly listed shares, with bigger pops becoming the norm amid market volatility. China’s recent overhaul of the way homes are sold will exacerbate local government finances, fueling a 30% drop in land sale revenues, according to Goldman Sachs economists. Bathla Group, the insolvent Australian builder that has shaken the nation’s real estate and private credit markets, secured stopgap funding to stay afloat for a couple of weeks as it rushes to make headway on its $2.5 billion debt crisis. Morgan Stanley’s investment banking chief in Australia called the Bathla collapse a “hammer blow” to the economy at a time when sliding house prices could curb consumer spending.
Aviation and Transport
Five people were killed when an Amazon cargo plane overshot the runway at Miami International Airport, the latest in a string of recent U.S. aviation accidents. The Boeing 767-300, operating as part of Amazon’s cargo fleet, crashed into several vehicles after flying from Puerto Rico to Miami, with five others injured. More than 60 Miami-Dade Fire Rescue units rushed to the scene to put out the flames and assess injuries, and flights were halted for hours at the airport. A separate report noted that the plane struck vehicles after overrunning the landing, with officials confirming the death toll.
Indonesia shut airports as Mount Anak Krakatau erupted, with ash and smoke plumes forcing cancellations and delays affecting more than 170,000 passengers. The country extended airport closures and halted free school meals in some areas as ash from the volcano continued to disrupt activities.
Sector and Regional Stories
UK hiring picked up in August in the latest hint of improving economic confidence, with a survey suggesting demand for staff is now stabilising in the private sector. However, concerns have been raised over “tick-box” staff training as employers choose short online courses, with analysis showing businesses have reduced spending on staff development. Canadian companies are navigating Trump’s tariffs, with five small businesses describing how the U.S.-Canada trade war has affected them. Alberta produces 40% of Canada’s honey, and this year rain and Trump’s trade war have combined to threaten the industry.
Arcelor Mittal faces a green steel price test at its flagship low-carbon plant in Dunkirk, with the company saying it has “no real visibility” over whether its new electric-arc furnace will be able to pass on added costs to buyers. Russia’s uranium push is raising concern over nuclear fuel supply, with a report forecasting that Russia-controlled mines will supply a greater proportion of an already tight market by 2040. Tata’s Titan jewellery chain says consumers continue to regard gold as an investment, with profits surging 63% despite government efforts to curtail demand for the precious metal.
Big U.S. university endowments outperformed the S&P 500, with substantial weightings in tech groups such as SpaceX helping lift returns after several years of lagging behind the market. German start-up Isar Aerospace launched a rocket into orbit from Europe, succeeding in the first ever commercial blast-off from the continent. Huawei is going on trial in New York, five years after finance chief Meng Wanzhou’s release from detention in Canada, with a U.S. jury set to decide whether the company’s rise was built on crime. A blacklisted Chinese tech giant, Inspur, kept buying America’s best AI chips through a subsidiary despite Washington’s sanctions, feeding China’s leading AI firms with Nvidia’s best chips.
US Politics and Policy
Pete Hegseth is a “wrecking ball” whose purges and whims are already costing the U.S. dearly on national security, according to a critical assessment. The battle to save General Donahue from Hegseth’s army purge has drawn in powerful supporters around the world who admire his vision for fighting future wars. The hiring of Nate Hochman at the State Department, who lost his job amid an uproar over a video containing a Nazi symbol, underscores the administration’s willingness to overlook past transgressions. The Teamsters are returning to “ugly type” with a blockade of an Amazon facility that resulted in injuries, according to an opinion piece. In Trump’s second term, the MAGA merchandise boom is going bust, with one Virginia store owner saying “you get used to good money, and you still want to make it.” Big Tech and Trump are blaming China for stoking the grassroots revolt against AI in the U.S.
Society and Culture
Workers’ share of national income is declining rapidly but experts aren’t sure why, with labor’s share of wealth shrinking to record lows. Two fatal NYPD shootings in one week have raised questions about how officers confront emotionally disturbed people who are violent or threatening violence, with split-second decisions made in Times Square and at the Brooklyn Bridge. A sympathetic defendant and well-crafted strategy dominated the Lindsay Clancy trial, with the defense lawyer showing empathy for his client in showcasing her mental health problems. Jacob’s Pillow is looking to move forward a year after a longtime staff member was killed at the celebrated dance center in Western Massachusetts. The 92-year-old mathematician Joan Birman thought her major discoveries were behind her, but then came an email from a young neighbor — a 15-year-old girl who knew little but wanted to learn. Citizen scientists are tracking England’s polluted waterways, taking action amid concerns over the approach of regulators responsible for protecting rivers and streams.
Consumer and Retail
Victoria’s Secret is reviving its Pink brand after sales slipped in recent years, with the new chief executive focused on making women feel bold and flirty. Continuing care retirement communities are expanding their scope to help retirees age in place, with measured supports and a way to cap the soaring costs of aging. Europeans obsessed with Route 66 are flocking to the U.S. highway as it turns, with tourists in search of Americana trying to keep war, inflation and politics in the rearview. The battle to be Australia’s best meat pie is a serious matter, with a hot pie from any roadside bakery a staple on a long road trip — but what does it take to be crowned a winner? If you thought this summer felt a little bit off, you’re not alone — extreme weather disrupted summer across the U.S. in ways that made it a bummer for many. “Furious,” the new police procedural on Hulu, turns out to be the perfect thriller for a post-Epstein world.
Labor and Employment
The U.S. jobs report sparked rate-rise bets across markets, with stronger-than-expected employment growth reinforcing expectations that the Federal Reserve may need to hike interest rates again. UK hiring picked up in August, with a survey suggesting demand for staff is now stabilising in the private sector — the latest hint of improving economic confidence. Concerns have been raised over “tick-box” staff training as employers choose short online courses, with analysis showing businesses have reduced spending on staff development.