China to Inject $45 Billion Into State Financial Institutions 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
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The S&P 500 surged Friday, led by tech stocks, but still marked its fourth straight weekly loss amid trade war concerns and a sharp drop in consumer sentiment. The Dow Jones gained 674 points (1.7%), the S&P 500 rose 2%, and the NASDAQ climbed 2.6%.
NVIDIA (NASDAQ: NVDA) jumped over 5%, aiming to break a three-week losing streak. Ulta Beauty (NASDAQ: ULTA) soared 13% on strong Q4 results, while Semtech (NASDAQ: SMTC) surged 21% after upbeat Q1 guidance.
Consumer sentiment plunged to its lowest level since November 2022, with the University of Michigan’s index dropping to 57.9 from 64.7, well below expectations. Inflation fears intensified as one-year inflation expectations spiked to 4.9%, marking three consecutive months of sharp increases. Long-term inflation expectations also jumped to 3.9%, the biggest monthly rise since 1993.
Trade war concerns escalated after former President Donald Trump threatened a 200% tariff on European alcoholic beverages, retaliating against the EU’s 50% tariff on American whiskey. Investors worry this could fuel inflation and slow economic growth.
Meanwhile, a government shutdown appears to have been averted as Senate Democratic Leader Chuck Schumer backed a Republican-crafted funding bill.
Tesla (NASDAQ: TSLA) rose 3.9% after reports it plans to launch a more affordable Model Y in China to defend its market share. The EV giant has faced challenges, including a 30% stock decline this month, backlash over Elon Musk’s Dogecoin involvement, and protests at dealerships. Concerns also persist over trade war-related tariffs impacting Tesla’s business.
With inflation worries mounting, Federal Reserve hawkishness, and trade tensions intensifying, market volatility is expected to remain high.
