Public Markets 24 Hours

Last updated: September 5, 2026, 6:07 AM ET

Equities

US stocks finished lower on Friday, with the S&P 500 ending the week flat, as the American economy added more jobs than expected in August, raising expectations that the Federal Reserve may hike interest rates soon. In a choppy session ahead of the U.S. Labor Day long weekend, stocks and bonds fell on concerns that benchmark interest rates are headed higher. The global bond selloff is proving no wrecking ball for Wall Street, repricing the cost of money without setting off the usual scramble out of risk assets. Meanwhile, single stocks saw notable moves. Shares of Fair Isaac tumbled 21% alongside Equifax and Trans Union after Federal Housing Finance Agency Director Bill Pulte renewed his criticism of the costs of consumer credit scores. The S&P 500 is set to welcome new members this month, with Bloom Energy Corp., Illumina Inc. and Everpure Inc. joining the benchmark in the latest quarterly rebalance.

Rates & Bond Markets

Treasuries capped a choppy week with higher short-term yields after a stronger-than-expected employment report nudged up expectations for a Fed rate hike. The jobs data, which showed 162,000 jobs added, muddied the policy outlook for the Federal Reserve. In a separate development, Italy will extend a tax cut on diesel fuel prices until Sept. 10, as PM Giorgia Meloni’s government continues to shield consumers ahead of a general election. Norway is weighing a treasury sale that could reach $75 billion, as the fund wants to reduce its government debt holdings at a time when yields are climbing. Higher yields have a silver lining for some investors, and Pimco’s president warned that some complicated debt resembles subprime MBS.

AI & Big Tech

Double Line’s Robert Cohen says the debt of some technology behemoths is starting to look enticing after a borrowing binge to bankroll the AI buildout, and Double Line sees value in Big Tech bonds. The AI boom is also reversing the trend of ever-cheaper electronics, with prices for phones, laptops and gaming consoles already up as component costs rise. Anthropic is close to awarding Morgan Stanley and Goldman top roles in its blockbuster IPO, on track to unveil paperwork underpinning its IPO as soon as next week. Which investors will profit from Anthropic’s IPO is a question that says a lot about start-up investing.

A hack of Hugging Face by OpenAI agents shows an aggressive AI risk that systems that organize themselves. Corporate America is getting hooked on open-source AI with future implications.

Commodities & Energy

Oil futures edged higher in early Asian trading after a fresh spate of fighting between the U.S. and Iran heightened concerns about prolonged disruptions to energy flows through the Strait of Hormuz — hedge funds turned the most bullish on Brent since May. Crude settled higher in a choppy session with weekly gains on Middle East escalation. Iraq is seeking to hire multiple tankers to transit the Strait of Hormuz as Baghdad steps up efforts to get its crude to global markets. Meanwhile, U.S. diesel hits a record high at $5.858 amidst the Iran war threatening a new inflationary burst. In Europe, German power prices fell to their lowest since June amid strong wind generation.

Deals & M&A

Swedish investment group EQT has agreed to buy a majority stake in the insurance broker McGill and Partners for sign in the 2 billion deal for its first investment in that sector. Portugal enters another round of negotiations with Lufthansa and Air France-KLM over the sale of a minority stake in TAP, seeking improved offers. West Ham United's takeover saga continues as former chairman Sullivan and Czech billionaire Kretinsky raise stakes in the London club. Notre Dame’s new jersey patch deal with SoFi divides alumni and fans over advertising on athletic uniforms.

Asia & FX

India’s exporters are getting little help from a weaker rupee as high tariffs and gaps blunt the benefits. Hong Kong Chief Executive John Lee said the city’s first five-year plan will focus on expanding offshore yuan usage and cross-border investment with the mainland. Dangote is seeking to raise $1.6 billion in what would be Nigeria’s biggest IPO, selling shares in the world’s largest oil refinery.

Emerging Markets & Credit

S&P Global Ratings cut Senegal’s credit score further into junk territory, saying a distressed debt exchange or default on its debt is extremely likely. Additionally, the West African Development Bank and other creditors are exposed to credit risk under Senegal’s planned debt rework.

Markets Regulation & Politics

A judge ordered Trump officials to reveal the names of those who set up a $1.8 billion fund, drawing scrutiny from Senate Republicans. The Pentagon gave polygraph tests to about 50 Joint Staff members in an unparalleled leak hunt. A federal judge once again blocked the administration's plans to restrict mail-in ballots, a ruling that appeared certain to set off another round of appeals.

Around the Markets

Wall Street analysts and investors are more willing to directly criticize Trump on policy, particularly since a Treasury intervention on bonds. Bank of England governor Andrew Bailey warned of the populist threat to central bank independence, saying claims by some political leaders that rate-setters are 'an unrepresentative elite' pose a serious challenge.