The ECB is widely expected to keep rates unchanged today. President Lagarde’s accompanying statement is likely to leave the door open to further cuts while stressing that policy is appropriately set; rates are seen near the cycle low and stability may follow. #ECB #FiatNews

US CPI is scheduled for 14:30 CET; consensus expects headline inflation at 2.9% and core at 3.1%. A softer-than-expected print would likely support Fed rate-cut expectations and could spur speculation of a larger cut; a stronger print would work the opposite way. #CPI #Fed #FiatNews

The Czech koruna continued a gradual weakening this morning, moving to about 24.42 CZK/EUR. The currency has eased slowly against the euro in recent sessions. #CZK #FiatNews

Gold pared recent gains, trading around $3,630/oz as investors adjusted positions ahead of US inflation figures and central bank meetings. The metal’s correction so far has been modest. #Gold #FiatNews

Oil held near $67.50/barrel despite an IEA warning of a record demand surplus next year. Prices have remained relatively resilient amid mixed macro signals and cautious market sentiment. #Oil #FiatNews

EUR/USD maintained a soft tone, trading slightly below 1.1700 this morning as the eurodollar continued a downward bias. The pair’s move comes as markets position ahead of US inflation data and central bank commentary. #EURUSD #FiatNews

Bond markets showed mixed, small moves in yields in European trade as investors await US CPI and central bank decisions. Both short- and long-term yields were little changed, reflecting cautious positioning ahead of key macro releases. #bonds #FiatNews

European equities rose in early trade: CAC40 +0.8%, FTSE100 +0.5%, DAX and AEX +0.2%. US futures were modestly higher. Markets follow supportive tech news and lower US producer inflation, after a less upbeat session yesterday. #CAC40 #DAX #FiatNews

Conservative activist and influencer Charlie Kirk was shot during an appearance at Utah Valley University in Orem and has died. The 31-year-old was a prominent Trump ally and co‑founder of the youth organisation Turning Point USA. #CharlieKirk #FiatNews

US equities: S&P 500 opened and closed at record highs; Nasdaq 100 extended its winning streak to six days and closed at an all-time high. Oracle’s quarterly results drove its shares up roughly 36%, lifting chip names such as AMD, Broadcom and Nvidia, while Synopsys shares plunged about 36%. #SPX #NAS100 #ORCL #NVDA #SNPS #FiatNews

US buyout firm GTCR has agreed to acquire Prague-based drugmaker Zentiva for about €4.1 billion (roughly CZK 100bn), the Financial Times reports, citing people familiar with the matter. The FT says the price — which includes debt — was agreed with Zentiva’s current owner, Advent International, and the deal is expected to be announced in the coming days.

The reported sale represents a sizable uplift from the €1.9bn Advent paid in 2018. Indian company Aurobindo Pharma had also been reported as a potential bidder, and earlier media speculation put a possible price as high as $5.5bn. GTCR manages about $46.7bn of assets and has long targeted healthcare investments; it previously showed interest in rival Stada, which was recently bought by CapVest for €10bn.

Zentiva, spun out of Sanofi in 2017 and sold in 2018, is a major European generics manufacturer with products across pain, cardiovascular, CNS, GI, urinary/sexual health and respiratory care. It operates in more than 30 countries and employs nearly 4,800 people, about 1,500 in the Czech Republic. LSEG Intelligence data show global healthcare deal volume reached $198bn through end-August, up 2% year-on-year. #Zentiva #GTCR #pharma #M&A #FiatNews

Wall Street strategists have rapidly lifted forecasts for the S&P 500, with some now saying the index could reach 7,000 this year as strong corporate earnings and renewed interest in artificial intelligence fuel record gains. Deutsche Bank strategist Binky Chadha raised his year‑end target to 7,000, more than 7% above levels at the time, while Wells Fargo Securities expects an 11% rise to year‑end.

Barclays’ Venu Krishna boosted his year‑end target to 6,450 from 6,050 and sees the rally continuing into next year toward 7,000, writing that they view the outlook as a “glass half full.” Wells Fargo’s Ohsung Kwon cautioned there is “some bubble, but if AI investment doesn’t change, the bull market should continue.” JP Morgan’s Dubravko Lakos‑Bujas noted short‑term risks from inflation and seasonality but said the index could recover to roughly 7,000 early next year on easing political headwinds, lower rates and record shareholder payouts.

U.S. stocks have climbed on expectations of Fed rate cuts and resilient growth: the S&P 500 closed at a record on Tuesday, up 11% year‑to‑date, while the Nasdaq 100 is up 13%. Bloomberg Intelligence data cited in strategists’ notes project S&P 500 earnings rising nearly 10% in 2025 and about 13% in 2026. Source: Bloomberg. #SP500 #NASDAQ100 #AI #markets #FiatNews

U.S. equities hit fresh records as lower-than-expected PPI and blowout Oracle metrics lifted sentiment. The S&P 500 opened at new intraday highs and closed at its highest level on record, while the Nasdaq 100 nearly reached an intraday record (stopping about 10 points shy) and finished its sixth consecutive day of gains at a record close. Investors pared some upside ahead of key U.S. consumer inflation data due Thursday.

Producer prices eased in August, with the PPI falling 0.1% month‑on‑month versus the 0.3% rise analysts had forecast, reducing near‑term inflation concerns. Technology names rallied after Oracle reported a surge in remaining performance obligations (RPO) from $138bn to $455bn, sending ORCL shares up roughly 36% and helping lift chip suppliers including AMD, Broadcom and Nvidia.

Not all tech names fared well: Synopsys cited a negative impact from trade tensions on its China results and saw its stock slide about 36%. Markets remain sensitive to upcoming CPI data and recent strong gains. #SP500 #Nasdaq #ORCL #NVDA #SNPS #FiatNews

A valuation snapshot shows a divergence between the five largest U.S. stocks and the rest of the market: Goldman Sachs notes the top five trade at a price-to-earnings (PE) ratio of about 28—below the peak levels of the late-1990s tech bubble—while the remainder of the market is trading at PE multiples roughly in line with that bubble high. The author highlights that this split is driven by outsized valuations and earnings at the biggest tech firms.

Two important caveats are noted. First, PE ratios can normalize either through falling prices or rising earnings; a simple historical projection suggests PE could decline toward long-term norms over roughly a decade if earnings continue to grow. Second, free cash flow (FCF) has risen relative to accounting earnings for many firms—so P/FCF may not signal the same overvaluation as PE alone, since lower investment goods costs have boosted cash generation versus reported profits.

A long-term market-cap chart shows concentration in the top five is extreme today but not unprecedented: over decades, leaders change (Exxon is cited as a long-standing example). The commentary names #NVDA and #MSFT as appearing durable over a multi-year horizon, while #GOOGL faces questions about AI’s impact on search and #AAPL’s strong market position coexists with debate over its AI strategy. #FiatNews

Economic calendar highlights: Sept. 11 — European Central Bank meeting (deposit rate) and U.S. CPI for August. Market participants will watch the ECB decision and the U.S. inflation print closely for guidance on rate paths; initial jobless claims data are also scheduled around the same period. #FiatNews

U.S. job creation figures were revised sharply lower: U.S. statistical authorities cut the estimate of payroll growth through March 2025 by about 911,000 jobs, leaving nearly one million fewer jobs created than previously reported. The revision alters the recent labor market narrative. #FiatNews

Apple unveiled four new iPhone 17 models, a new AirPods Pro with real‑time translation features, and the Series 11 Apple Watch. The product launch includes hardware and software updates across devices, positioning Apple for the holiday sales season. #AAPL #FiatNews

Nebius Group announced plans to raise $3 billion via convertible bonds and new equity, two days after disclosing a deal with Microsoft to supply AI infrastructure. The capital raise is intended to support the company’s expansion and commercial ambitions in cloud and AI services. #FiatNews

Airbus, Thales and Leonardo are advancing plans to form a joint European space and satellite venture aimed at strengthening competition with dominant U.S. providers. The trilateral effort targets capabilities across satellites and space services to bolster Europe’s strategic autonomy in space. #FiatNews

Novo Nordisk will cut roughly 9,000 jobs globally—about 11% of its workforce—while revising its profit outlook downward as it reshapes strategy. The restructuring follows market and product adjustments for the company known for drugs such as Ozempic and Wegovy. #NovoNordisk #FiatNews

Apple holds a product event expected to unveil the iPhone 17 line, including base, Pro and Pro Max models, and a new very thin “Air” variant that would mark a notable design change. Coverage and first impressions to follow after the presentation. #Apple #AAPL #iPhone #FiatNews

Goldman Sachs data show global financial conditions tightened sharply last autumn, began easing in May and have since moved into relaxation—implying markets may be delivering monetary accommodation independently of central banks. Inflation is diverging: the US remains well above target while China faces disinflationary pressure. Commerzbank projects 2026 inflation at >3% (US) vs 0.4% (China). #GoldmanSachs #inflation #Commerzbank #FiatNews

An opinion piece disputes the notion that investment success is merely luck, citing a 2023 study by Esmail Farshi (Univ. of Tennessee) that finds evidence of “clustering of luck” in sports: “Periods of high luck tend to be followed by another event with high luck.” The author says these results challenge simple randomness and could matter for strategy and resource allocation. #investing #research #FiatNews

Industrial production in the Czech Republic rose 1.8% year‑on‑year in July, slightly above expectations, with the expansion led primarily by the automotive sector. July’s data show automotive output up 4.5% and plastics and rubber products rising 7.6%, while electronics, computers and the textile industry continued to lag. Despite ongoing trade tensions, the sector entered Q3 on a relatively optimistic footing.

New orders increased 6.6% YoY, but the strength is uneven across industries: domestic orders surged 13% while foreign orders grew just 2.9%. Machinery, metal‑structure manufacturing and some energy‑intensive sectors such as chemicals are showing gradual improvement.

Analyst Jan Bureš (8 Sept 2025) says the figures align with a view of a mild slowdown in growth dynamics in Q3–Q4 after a strong start to the year. "Industry should grow around 1.5% in Q3 and slightly accelerate to about 2% by year‑end," he noted. #CzechRepublic #industrialproduction #automotive #manufacturing #FiatNews

Chinese EV maker BYD cut its full-year sales forecast by 16% to 4.6 million vehicles from 5.5 million, citing intense domestic competition and price declines that are weighing on margins and results. The guidance cut highlights pressure in China's EV market. #BYD #FiatNews

Long-dated government bond yields rose sharply this week, with 30-year yields climbing in the US, UK, Japan and Germany. Market participants cited growing concern over fiscal and monetary policy paths in several major economies as pressure on long-duration debt. #bonds #FiatNews

European stock futures showed little movement ahead of key data: Stoxx 50 -0%, FTSE 100 +0.1%, DAX -0%, CAC 40 -0.1%. Investors are awaiting Czech preliminary inflation and Eurostat retail figures, keeping early European trading subdued. #Stoxx50 #FTSE100 #DAX #CAC40 #FiatNews

After Fed Chair Powell's remarks at Jackson Hole, buyers moved into US equities—particularly small caps. Barclays and Federated Hermes described the pullback as a buying opportunity, while HSBC raised its S&P 500 year‑end target to 6,500 points. #FiatNews

US job openings fell to their lowest level in ten months, prompting firms to pull back on hiring. Analysts say hiring has slowed and unemployed workers are spending longer searching for jobs, feeding markets’ expectations of policy easing. #FiatNews

#Macro calendar: US JOLTS job openings for July are due this afternoon; despite an overall cooling in the labour market, openings are expected to rise. Market attention will shift to Friday’s August employment report as the more consequential data point for markets. #JOLTS #NFP #jobs #FiatNews

#Czech koruna reversed yesterday’s weakness and posted modest gains, trading near 24.47 CZK per euro. The move comes as regional markets join the broader European rebound. #CZK #FiatNews

#Oil: Brent crude has eased slightly and is trading around $69 per barrel amid the broader cautious tone in commodities and markets. No major supply headlines drove the move in early European trade. #Brent #oil #FiatNews

#FX: EUR/USD is edging up to about 1.1655, while the pound is showing similar mild gains. Currency moves reflect the broader subdued risk rally in equities and modest shifts in rate expectations across regions. #EURUSD #FiatNews

#Fixed-income markets show divergence: US government bonds are softer while European bonds are slightly recovering earlier losses. Analysts flag that fiscal policy and political pressure on central bank independence could exert downward pressure on longer-maturity sovereign debt. #bonds #FiatNews

UK gilts: 30‑year yields climbed to 5.68%—the highest level since 1998—raising market pressure on Prime Minister Keir Starmer to shore up confidence over fiscal sustainability and rising inflation expectations. #UK #gilts #GBP #FiatNews

Spot gold climbed to a record $3,508.50 per troy ounce (CZK 73,260), marking its sixth consecutive daily gain, supported by a weaker dollar and growing bets on U.S. rate cuts. Silver remains near a 14‑year high reached on Monday. #Gold #Silver #FiatNews

A U.S. federal appeals court ruled 7–4 that most of President Donald Trump’s global tariffs are unlawful, finding that only Congress can impose broad tariffs. Trump called the decision “highly partisan” and plans to appeal to the U.S. Supreme Court. September is historically weak for equities: S&P averages −4.2% (last 5 yrs) and −2% (last 10 yrs). #US #S&P500 #FiatNews

European stocks are set to open largely unchanged as trade‑related uncertainty drives global volatility. Britain’s FTSE 100 and the pan‑European Stoxx 50 are expected to be flat, Germany’s DAX slightly softer and France’s CAC 40 mildly positive ahead of the trading day. #Stoxx50 #DAX #FiatNews