Oil Surges, Yields Jump as US-Iran Clashes Reignite and Fed Hawkishness Persists
31 August 2026 · Evening
Geopolitical tensions escalated as military clashes between the US and Iran resumed, driving a sharp increase in international oil prices.
Simultaneously, hawkish signals from the Federal Reserve pushed bond yields higher across major economies, with both US and German benchmark yields hitting multi-year highs.
This combination of rising energy costs and tighter monetary policy expectations reignited inflation concerns and led to a cautious sentiment in global equity markets.
Meanwhile, China's new property regulations triggered a sell-off in smaller developer stocks, signaling an acceleration of industry consolidation amid broader economic weakness.
Central bank hawkishness, particularly from the Federal Reserve and Bank of Japan, dominated market sentiment, pushing bond yields higher and strengthening the dollar.
Global Markets
Detail
S&P 500
Closed at 7,711.76 on August 28.
-0.25%
Nasdaq
Closed at 26,402.42 on August 28.
-0.52%
STOXX 600
Traded at 653.89 during KST market hours on August 31.
-0.20%
Nikkei 225
Closed at 66,311.71 on August 31.
-0.14%
CSI 300
Closed at 4,625.09 on August 31.
+0.35%
KOSPI
Closed at 6,820.02 on August 31.
+0.46%
Hang Seng
Closed at 25,566.99 on August 31.
-0.07%
Dollar Index (DXY)
Closed at 99.54 on August 31.
-0.14%
USD/JPY
Closed at 159.72 on August 31.
-0.22%
EUR/USD
Closed at 1.16 on August 31.
+0.18%
USD/KRW
Closed at 1,367.93 on August 31.
-0.56%
USD/CNY
Closed at 6.72 on August 31.
-0.09%
US 10-year
Yield reached 4.730% on August 28.
+5.4bp
US 2-year
Yield reached 4.360% on August 28.
+12.6bp
Japan 10-year
Yield reached 2.939% on August 31.
+2.0bp
Germany 10-year
Yield reached 3.311% during KST market hours on August 31.
+2.0bp
Korea 10-year
Yield reached 4.313% on August 31.
+3.9bp
US HY Spread
Spread tightened to 263bp on August 27.
-4.0bp
WTI
Price surged to $86.23 per barrel on August 31.
+3.39%
Gold
Price was $4,449.52 on August 31.
-0.09%
Copper
Price was $6.66 on August 31.
+0.05%
VIX
Volatility index closed at 14.42 on August 28.
-0.55%
Fed Signals Hawkishness
Fed Chair Warsh's remarks at Jackson Hole signaled a willingness to raise rates if inflation persists, stating 'there's still work to do' on price management.
Sept Hike Priced
AI Financial Threat
The Financial Stability Board chair, Andrew Bailey, warned that AI-powered cyberattacks pose the most direct and immediate threat to the global financial system.
Top Cyber Threat
New Zealand RBNZ Hike
The Reserve Bank of New Zealand (RBNZ) is widely expected to raise its benchmark interest rate by 25 basis points to 2.75% on Wednesday.
25bp Expected
September Market Volatility Outlook
Market volatility is expected to increase due to a concentration of policy decisions and economic events in September.
Heightened Risk
Nvidia (NVDA) AI Finance Deal
Nvidia's (NVDA) revolving credit facility commitment has surpassed $53 billion.
$53 Billion
United States
US-Iran Military Clash Reignites, Oil Jumps 3.5%, Inflation Concerns Rise+3.5%
US forces struck two rocket launchers on Iran's Larak Island, marking the first mainland attack since July.
Iran retaliated by attacking US bases in Jordan and the UAE; a US drone was reportedly shot down.
Tensions in the Strait of Hormuz drove Brent crude up +3.58% to $91.25/barrel, and European natural gas (TTF) rose +€2.42 to €69.40/MWh.
Rising energy prices are perceived as a signal of inflation resurgence, contributing to weaker Wall Street index futures.
Fed Chair Warsh's Hawkish Signals Lead to Sharp Repricing of Rate Hikes75-80%
Fed Chair Warsh stated the Fed has room to adjust if confidence in inflation falling to 2% is lacking.
Barclays revised its forecast from a year-end rate freeze to two 25bp hikes in September and December.
Market pricing for a September hike surged to a 75-80% probability.
German 2-Year Bond Yield Hits Highest Since Mid-20242.90%
The yield on Germany's 2-year bond reached 2.90%, its highest level since July 2024.
The market is pricing in an ECB rate hike to 2.70% by December, with an 80% chance of a second hike in December after September.
Warsh's comments and rising oil prices impacted European bond markets.
Dollar Near 2-Week High, Yen Near ¥160, Increasing Intervention Pressure¥160
The dollar strengthened near a two-week high on Warsh's hawkish remarks and rising oil prices.
The Yen weakened to ¥160, renewing concerns about Japanese currency intervention.
Treasury Secretary Bessent deemed dollar strength 'within control' but expressed concern over yen weakness.
Asian and European Stocks Ease, Energy Stocks Limit Losses-0.20%
Asian indices like Nikkei and KOSPI (-2.46%) fell due to Warsh's hawkish stance and a strong dollar.
The STOXX 600 was near flat at -0.20% but maintained a five-month consecutive monthly gain.
Energy stocks (.SXEP) rose +0.6%, partially offsetting losses; US futures also showed slight weakness (Dow -0.10%, S&P500 -0.13%).
NVIDIA (NVDA)+6.8%
Reported Q2 gross margin of 75% and EBIT of $63.7 billion, exceeding expectations.
Provided Q3 gross margin guidance of 74% (±0.5%p) and projected next year's revenue to grow by 70%, driven by strong AI chip demand.
Signed MOUs with major capital providers to support over $500 billion in AI infrastructure investments, while pausing an AI cloud revenue-sharing program due to antitrust concerns.
Marvell Technology (MRVL)-8.4%
Reported Q2 adjusted EPS of $0.94 (vs consensus $0.92) and revenue of $2.74 billion (vs consensus $2.71 billion), with datacenter revenue reaching $2.17 billion.
Raised FY2027 revenue guidance to approximately $12 billion (+45% YoY) and FY2028 to $18 billion (+50% YoY), projecting 60% growth for its datacenter business this fiscal year.
Stock declined after management indicated that significant revenue from the Google warrant contract would only materialize from FY2029, and Q3 gross margin guidance was set lower at 52.9-53.9%.
IREN-7%
Reported FY26 revenue of $129 million, significantly below the $740 million consensus, and transitioned to a net loss due to early retirement of Bitcoin mining equipment.
Secured a new multi-year contract with a frontier AI lab and $2.8 billion in funding for AI chip purchases, with annualized revenue from AI cloud expansion projected at $4 billion.
SanDisk / KioxiaInvestment
Announced a joint investment of over $31 billion (5 trillion JPY) in Japan over six years, including new production facilities, to expand leadership in memory semiconductors.
Lam Research (LRCX)Dividend Up
Increased its quarterly dividend from $0.26 to $0.33 per share, reflecting confidence in financial performance.
Apple (AAPL)Event Set
Confirmed a new iPhone launch event for September 9, generating anticipation for potential new models, including foldable devices.
Eli Lilly (LLY)FDA Approved
Received FDA approval for Mounjaro (tirzepatide) to reduce cardiovascular risk in patients with type 2 diabetes, significantly expanding its target prescription group.
Mounjaro, a GLP-1 protein targeting drug, is also marketed as Zepbound for obesity treatment.
Moderna (MRNA)-5.6%
Announced successful late-stage clinical trial results for its mRNA cancer vaccine, co-developed with Merck, marking a significant breakthrough in cancer therapy.
Issued $2 billion (later increased to $2.6 billion) in convertible senior notes, with a separate hedge overlay purchased to mitigate potential stock dilution.
Abbott (ABT)CE Mark
Its next-generation left atrial appendage occluder, Amulet 360, received the European CE Mark, with initial procedures successfully completed in Germany and Denmark, paving the way for broader European expansion.
Johnson & Johnson (JNJ) / AbbVie (ABBV)Approvals
J&J secured sales approval in China for its oral psoriasis treatment, expanding its global market reach.
AbbVie submitted an application to the EMA for expanded indication of Skyrizi subcutaneous induction therapy for Crohn's disease.
GE Vernova (GEV)CFO Change
Appointed Claire McDonough as the new CFO, effective January 2027, with the current CFO transitioning to a strategic advisory role.
Secured a contract with Laing O'Rourke to upgrade the electricity grid in England and Wales and supply transmission technology to National Grid.
Lockheed Martin (LMT)Credit Deals
Extended its $3 billion revolving credit facility and established a new $2.25 billion 364-day credit facility, enhancing its financial flexibility.
Proposed an $1.8 billion industrial cooperation package for Peru related to the F-16 Block 70 aircraft.
Boeing (BA)Strike Risk
Deepening stalemate in union contract negotiations raises concerns about potential strike risks and production disruptions.
Meta Platforms (META)$18B Settlement
A court approved an $18 billion settlement in a US lawsuit concerning child online safety, leading to the implementation of new measures to restrict youth social media use.
The EU Commission continues discussions regarding a preliminary finding of Digital Services Act (DSA) violations related to addictive design, while Poland requested a €250 million fine from the EU for inadequate responses to fraud and false advertising.
Alphabet (GOOGL)Policy Changes
The US FTC is reportedly in the final stages of preparing a lawsuit regarding YouTube's social media policies, according to Bloomberg.
Google modified its search spam policy to avoid EU antitrust fines and settled a UK app developer lawsuit for $353 million, also unveiling a new AI model, Gemini Omni 1.1 Flash, for developers.
JPMorgan (JPM)Capital Impact
Led a $5 billion debt package for the construction of Volta AI data centers.
Anticipated to face a capital impact of up to $13 billion due to changes in Federal Reserve capital regulations.
Bank of America (BAC)Settlement
A court approved a $72.5 million settlement with victims of Jeffrey Epstein, resolving a significant legal matter.
Visa (V) / Mastercard (MA)Syria Reconnected
Initiated international card payment services in Syria following the lifting of its US terror designation, reconnecting payment networks after 15 years.
Southern Company (SO)OpenAI Deal
Its subsidiary, Georgia Power, secured state regulatory approval for a 3200-megawatt power supply contract with OpenAI, projected to generate new revenue starting in 2029.
Europe
German Bond Yields Hit 15-Year Highs, 10-Year Surpasses 3.29%3.2903%
The 10-year bond yield reached 3.2903%, its highest level since 2011.
The 2-year bond yield hit 2.9014%, its highest since July 2024.
Rising oil and commodity prices due to the US-Iran conflict contributed to the surge.
Swedish Central Bank Deputy Governor Acknowledges Slight Rise in Inflation Risks, Maintains 1.75% Policy Rate1.75%
Jansson stated that the underlying inflation environment is good, but higher-than-expected summer inflation clouds the outlook.
Demand-driven inflation risks are slightly higher, but no signs of an overheating economy were identified.
The central bank believes there is ample room to wait before adjusting policy, keeping the rate unchanged.
The European benchmark fell slightly to 655.54 points due to new US-Iran military clashes and a surge in oil prices.
Despite the daily dip, the index maintained its five-month consecutive monthly gain trend.
German Inflation Accelerates in Four Major States in August, Signaling Potential National Acceleration2.9%
Inflation rates in Bavaria (2.9% from 2.8%), North Rhine-Westphalia & Lower Saxony (2.9% from 2.7%), and Baden-Württemberg (2.6% from 2.5%) all rose.
Rising energy and commodity prices from the Iran conflict are identified as key drivers.
The German government forecasts 2.7% inflation for this year and 2.8% for 2027.
Portugal and Ireland August Inflation Both Accelerate+3.3%
Portugal's year-on-year inflation rose to +3.3% (from 3% prior), with core inflation at +2.7% (from 2.6% prior).
Ireland's year-on-year HICP increased to +3.4% (from 3.1% prior), with core inflation at +2.6% (from 2.9% prior).
Portugal Q2 GDP Confirmed at +0.8% QoQ, +2.5% YoY+0.8%
The final figures for Portugal's Q2 GDP matched flash estimates, confirming a +0.8% quarter-on-quarter growth.
Swiss National Bank Expected to Keep Policy Rate at 0% Through 2026-20270%
A survey of Swiss bankers shows a unanimous expectation for the policy rate to remain at 0% until the end of 2026.
60% of respondents expect the rate to stay at 0% through 2027, while 40% anticipate hikes (mostly 0.25%, some 0.5%).
Belgium Q2 GDP Confirmed at 0.0% QoQ, Growth Stagnates0.0%
Belgium's Q2 GDP was confirmed at 0.0% quarter-on-quarter, indicating stagnant growth.
Denmark July Unemployment Rate 2.7%2.7%
Denmark's unemployment rate stood at 2.7% in July.
EUR/USD Spot Rate Volatility Expected Due to Large Options Expiry at New York Close€10.45B
€10.45 billion in options are concentrated in the 1.1600-1.1690 range, expiring at the New York close.
Hedging activities for these option positions could trigger fluctuations in the spot rate.
China
China's New Property Regulations Cause Small Developer Stocks to Plunge, Deepening Industry Consolidation-4%
New mortgage rules, including limiting loans to completed homes and extending maximum terms to 40 years, were announced last Friday.
The Shanghai property index fell 2%, and Hong Kong-listed Chinese developers index dropped approximately 4%.
These regulations aim to reduce reliance on pre-sales and restore buyer confidence, but are expected to worsen funding for small developers and accelerate industry consolidation.
August Manufacturing PMI Remains in Contraction, Service and Construction Weakness Deepens Economic Imbalance49.8
The Manufacturing Purchasing Managers' Index (PMI) was 49.8 (vs 49.2 in July), remaining below the 50-point contraction threshold for the second consecutive month.
The Non-manufacturing PMI (services & construction) also remained weak at 49.0, reflecting deepening export dependence amid weak domestic demand.
The stock market reflected this weakness, with CSI300 down 0.8%, Shanghai Composite down 0.2%, and Hang Seng down 0.7%.
Huawei, Airlines, and Auto Dealers Report Sharp H1 Profit Declines-36%
Huawei's net profit plunged 36% to 23.81 billion yuan (~$3.54 billion), despite 9.6% revenue growth, due to rising costs and R&D investments.
China's three state-owned airlines reported combined H1 losses of approximately $1.2 billion, primarily due to a 35-38% surge in jet fuel prices from the Middle East conflict.
Zhongsheng Group (auto dealer) saw H1 revenue fall -18.5% and net profit decline -89.1%, reflecting weak consumer confidence and purchasing power.
Central Bank Liquidity Injection and Government Consumption Policies Show Limited Signs of Economic Recovery5B yuan
The PBOC injected 5 billion yuan via 7-day reverse repos at 1.40% to support financial market liquidity.
The Ministry of Commerce issued a document to promote and upgrade consumer goods, aiming to boost domestic demand.
Yuan Appreciation Slows, Chinese Authorities Intensify Intervention to Support Exports6.72
The spot rate was 6.72 yuan/dollar, representing a 4% appreciation year-to-date and near a 3.5-year high.
Yuan appreciation slowed despite a dollar rebound from hawkish Fed comments; authorities are reportedly suppressing appreciation via dollar forward sales.
Global investment banks' median year-end yuan forecast is 6.68 yuan/dollar, expecting limited further appreciation due to China's weak domestic demand and high export dependence.
Hong Kong July Retail Sales Up 4.5% (15th Consecutive Month), Driven by Economic Recovery and Tourism+4.5%
Retail sales value reached HK$31 billion (~$4 billion), a +4.5% year-on-year increase (vs 4.6% in June), marking the 15th consecutive month of growth.
Volume-wise, sales increased +2.3% (same as June), with online retail showing strong growth.
Cumulative retail sales from January to July were up over 8%, driven by economic expansion and tourism recovery.
Hong Kong Retail Sales+4.5%
Hong Kong's July retail sales increased by 4.5% year-on-year, indicating continued economic expansion.
Growth was supported by a rebound in tourism and robust domestic demand.
China State-Owned Firms' Profits+0.6% Y/Y
Profits for China's state-owned enterprises rose by 0.6% year-on-year in the January-July period.
The modest increase reflects ongoing challenges in the broader economic environment.
China Promotes ConsumptionPolicy Issued
China's Commerce Ministry released a document outlining measures to promote the expansion and upgrading of goods consumption.
This initiative aims to bolster domestic demand and support economic growth.
Yuan DynamicsReined In
The yuan firmed slightly despite a broader dollar rebound, but China's central bank intervened to curb its rise.
Weak domestic demand continues to cloud the economic outlook, limiting the yuan's potential gains for the rest of 2026.
China & Hong Kong StocksFell
Stocks in China and Hong Kong declined, pressured by weaker-than-expected economic data.
New property rules also contributed to the downward trend, particularly affecting property sector shares.
Japan
JGB Yields Surge30-Year High
Japanese Government Bond yields surged to multi-decade highs; the 2-year yield reached 1.73% (a 31-year high) and the 10-year yield hit 2.95% (a 30-year high).
The sharp rise comes as a 3% psychological level is approached, with an auction today testing investor demand.
Record Budget Requests¥143 Trillion
Japan's FY2027 budget requests are expected to reach a record 143 trillion yen, up 2-3 trillion yen from the previous year.
This reflects a new 'unlimited growth investment framework' and continued expansionary fiscal policies despite rising interest rates.
Industrial Output & Retail SalesBeat Forecasts
July industrial production rose 0.1% month-on-month (vs. -0.7% forecast), and retail sales jumped 4.0% year-on-year (vs. +2.9% forecast).
A weak yen continues to support both exports and tourism, contributing to robust market performance despite weaker Chinese tourism.
Nikkei 225 Performance-1.97%
The Nikkei 225 index closed down 1.97% at 65,096.63, with the broader Topix index also falling 0.84%.
Market sentiment was pressured by expectations of a Bank of Japan rate hike and geopolitical tensions in Iran.
Yen Retreats from Highs159.73 per USD
The yen retreated slightly from its recent highs, trading at 159.73 against the dollar after hitting 160.20 on Friday.
Regular hedging sales by Japanese exporters helped cap the yen's depreciation.
Toyota & Honda Tariffs50% Tariff Risk
Toyota and Honda face potential 50% tariffs on Canadian-made cars, impacting a significant portion of their North American sales.
Analysts suggest these tariffs could lead to factory closures or reductions in Canada, where the two companies account for over 75% of auto production.
India
Q2 GDP ReleaseExpected 7.1%
India's Q2 economic growth data is set to be released today, with Reuters polls forecasting a 7.1% expansion.
This figure is a critical turning point for the country's interest rate cycle, influencing bond yields and monetary policy.
Fed Rate Hike ConcernsBonds Discounted
Concerns over a potential September Fed rate hike, following hawkish remarks from Fed Chair Warsh, led to Indian benchmark bonds trading at a discount.
The benchmark 10-year yield rose to 6.9437%, its highest since June 11, reflecting market anxiety.
Rupee Weakens95.4 per USD
The rupee weakened slightly to 95.4 per dollar, pressured by Fed rate hike fears and rising oil prices.
The Reserve Bank of India intervened in both spot and swap markets to manage the currency's depreciation.
Indian Stock MarketNifty 50 -0.42%
The Nifty 50 and Sensex indices saw slight declines, broadly impacted by higher oil prices and Fed rate hike expectations.
HDFC Bank's 1.5-2.1% rise helped cap overall losses, while 14 out of 16 major sectors traded lower.
Bank System Liquidity₹5.05 Trillion
Bank system liquidity surged over 2.5 times in four weeks, reaching 5.05 trillion rupees (approx. $53 billion) by August 30.
This marks the highest level since August 15, with potential to expand further to 7 trillion rupees due to month-end spending and dollar swaps.
Emerging Markets
Iran-UAE Drone ClaimDenied
Iran's army claimed to have attacked the Al Minhad Air Base in the UAE, which hosts US facilities.
The UAE Defense Ministry immediately denied the reports, asserting its military remains vigilant and committed to protecting its sovereignty.
Czech Budget DeficitCZK 389 Billion
The Czech Republic plans to widen its 2027 budget deficit to 389 billion crowns, while meeting NATO's 2% GDP defense spending target.
The budget also includes increased investment in roads, railways, healthcare, and a 5-9% rise in public sector wages.
Greek Unemployment7.9% in July
Greece's seasonally adjusted unemployment rate fell to 7.9% in July from a revised 8.1% in June, with 376,508 jobless individuals.
Youth unemployment (15-24 years) saw significant improvement, dropping to 16.8% from 20.4% a year earlier, though a gender gap persists.
Poland August Inflation+3.4% Y/Y
Poland's August inflation rate rose to 3.4% year-on-year, exceeding the 3.1% forecast, with a monthly increase of 0.4%.
Soaring fuel prices, following the end of government control programs, were a primary driver, reinforcing expectations for stable interest rates until year-end.
Poland Q2 GDP Growth+3.9% Y/Y
Poland's Q2 GDP grew 3.9% year-on-year, surpassing the 3.8% forecast, demonstrating economic resilience amidst Middle East tensions and rising oil prices.
Quarterly growth was 1.1% (seasonally and calendar adjusted), driven by household consumption (+2.8%), investment (+8.4%), and exports (+10.8%).
Turkey Q2 GDP Growth+2.3% Y/Y
Turkey's Q2 GDP grew 2.3% year-on-year, falling short of the 2.9% forecast and marking the fourth consecutive quarter of slowdown.
Quarterly growth was 1.1% (seasonally and calendar adjusted), with Reuters polls projecting 3.05% growth for 2026.
Greece Air Defense Deal€3 Billion
Greece decided to acquire a €3 billion air defense system from Israel, part of a broader military modernization program.
The deal includes short, medium, and long-range missile systems, with four agreements expected to be signed for missile and radar systems.
South African Rand Weakens16.1225 USD/ZAR
The South African rand weakened to 16.1225 per dollar, retreating from last week's highs.
A stronger dollar, rising oil prices, and softer precious metals, coupled with Fed rate hike signals, pressured emerging market currencies.
Indonesia-Singapore FXLocal Currency
Indonesia and Singapore's central banks launched a bilateral local currency settlement framework for trade.
This initiative aims to reduce exchange rate risks and transaction costs for cross-border trade and investment.
Qatar Q1 GDP Contraction-7.9% Q/Q
Qatar's Q1 GDP contracted sharply by 7.9% quarter-on-quarter and 7.0% year-on-year.
This significant reduction indicates a challenging economic period for the nation.
Iceland Q2 GDP-3.0% Q/Q
Iceland's Q2 GDP decreased by 3.0% quarter-on-quarter and 1.1% year-on-year.
The contraction signals a slowdown in the Icelandic economy.
Sri Lanka Inflation+8% Y/Y
Sri Lanka's August inflation, measured by the Colombo Consumer Price Index, rose 8% year-on-year.
This marks an acceleration from the 7.3% recorded in the previous month.
Kenya August Inflation+6.6% Y/Y
Kenya's inflation rate for August stood at 6.6% year-on-year.
The figure indicates continued price pressures within the economy.
Romania Budget Deficit2.34% of GDP
Romania's budget deficit improved significantly to 2.34% of GDP by the end of July, down from 3.99% a year prior.
The government aims to reach a 6.2% deficit target for 2026, with continued fiscal consolidation crucial for maintaining its sovereign credit rating.
Middle East
Bank of Israel Rate DecisionSplit Views
Economists are divided on the upcoming interest rate decision by the Bank of Israel.
A Reuters poll indicates 8 out of 14 economists expect the rate to hold steady at 3.5%.
The remaining 6 analysts forecast a 25bp cut, bringing the rate down to 3.25%.
The decision, scheduled for Tuesday at 1300 GMT, follows two consecutive 25bp rate reductions in May and July.
Iran-US Geopolitical TensionsRisk Assets Weak
Renewed military tensions between Iran and the United States have heightened geopolitical risk.
Iran reportedly attacked a US military base in Jordan, a move described as retaliation for a US strike on Larak Island.
Former President Trump also claimed an attack on Kharg Island, though this remains unconfirmed.
This uncertainty dampened investor sentiment in early Asian trading and increased demand for safe-haven assets like the US Dollar.
Asia
Australian Dollar (AUD) Movement+0.15% (AUD/USD)
The Australian Dollar (AUD) saw a modest rebound, rising +0.15% against the US Dollar in Asian trading.
This occurred as the US Dollar Index weakened from its Friday high of 92.72.
Technically, a break above 0.7210 could signal further gains, while a fall below this level might lead to a decline towards the 21-day moving average near 0.7102.
Key economic data for Australia, including Q2 Current Account (Tuesday) and GDP (Wednesday), are anticipated, with market consensus expecting Q2 GDP to increase by +0.3% quarter-over-quarter.
Korea
South Korea July Industrial Production+3.6% YoY
South Korea's industrial production increased by +3.6% year-over-year in July.
This figure came in below market expectations of a +4.4% rise.
Month-over-month, seasonally adjusted industrial production grew +0.2%, also missing the survey estimate of +0.3%.
Retail sales fell -2.4%, and service output declined -1.3%, indicating weakness in consumption and services sectors.
Top Gainers
Detail
Salesforce (CRM)
Information Technology sector, market cap $206B.
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CrowdStrike Holdings (CRWD)
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Veeva Systems (VEEV)
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Synopsys (SNPS)
Information Technology sector, market cap $89B.
+13.39%
Palo Alto Networks (PANW)
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+12.83%
ServiceNow (NOW)
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+10.04%
Fortinet (FTNT)
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+9.67%
NVIDIA (NVDA)
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