BUSINESS
Wall Street gets the rally signals from Powell it was hoping for
The S&P 500 Index rebounded from a five-day slide, rising as much as 1.7%, while the Russell 2000 surged 4% on the back of rate- and economically-sensitive stocks.
WORLD
National Guard troops in Washington, DC will carry weapons, Pentagon says
The federal takeover of the city remains deeply unpopular with DC residents, polling data show.
COMMODITIES
Gold advances as Powell opens door for rate cut in September
Traders added to bets on the US central bank’s rate cut next month as Powell delivered his speech. Bullion typically benefit in a lower rate environment.
BUSINESS
Stocks, bonds jump as Powell signals Fed will cut rate
The S&P 500 rose 1.2%, halting a five-day slide, with a rebound in tech megacaps propping up the market.
BUSINESS
Key takeaways from Fed Chair Powell’s Jackson Hole speech
The Fed chair also said 'the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance'
BUSINESS
OpenAI HR chief Julia Villagra to exit the company
In an internal Slack message, Villagra said she’s departing to “pursue a passion she’s developed at OpenAI; using art, music, and storytelling to help people better understand the transition to AGI.”
BUSINESS
Meta poaches Apple AI executive even as it plans hiring slowdown
Chu helped manage the running of large language models on Apple cloud servers and oversaw some training of the software.
BUSINESS
US launches probe of wind turbines, opening door to more tariffs
The US Commerce Department started a national security probe on August 13 into whether wind energy imports harm national security and undermine domestic production, according to a notice posted by the agency Thursday
WORLD
US jobless claims rise, adding to signs of slowing labour market
Initial claims increased by 11,000 to 235,000 in the week ended Aug. 16. The median forecast in a Bloomberg survey of economists called for 225,000 applications
WORLD
Boeing in talks to sell as many as 500 planes to China
The mega sale to China, years in the making, is contingent on the two nations diffusing the trade hostilities that hark back to Trump’s first term in office — and could still fall apart, sources say.
BUSINESS
EU, US reach agreement on joint statement outlining trade deal
The development underscores the nature of trade talks under Trump, with some initial, broad pronouncements of deals giving way to weeks — or more — of work to hammer out detailed agreements
WORLD
Russian missiles strike US electronics plant in western Ukraine
Local authorities said that at around 4:40 a.m. local time, two Russian cruise missiles hit the company’s premises in Mukachevo
INDIA
India and Russia seek to increase trade to $100 billion as US ties fray
Jaishankar said during a visit to Moscow that the two countries must remove trade bottlenecks and reduce non-tariff barriers
MARKETS
India stocks now EM investors’ biggest underweight, says Nomura
Investors re-allocated from India to Taiwan, Hong Kong/China and South Korea in July, with 71% of EM funds becoming underweight on India at the end of the month
WORLD
Donald Trump plans executive order on flag burning: Report
Trump has long sought to impose penalties for flag burning, floating punishments including a prison sentence or a loss of citizenship
WORLD
Texas House passes Trump-backed redistricting plan to boost GOP ahead of 2026 midterms
The Texas House approved a Republican-led congressional map aimed at gaining up to five GOP seats, despite Democratic opposition and threats of legal action.
IPO
India becomes rare hub for green IPOs with $4 billion of deals
The wave of green listings comes on the back of a pickup in India’s broader IPO market after a slow start to the year
MARKETS
Asia stocks rise as Nasdaq bounces from lows
South Korea’s Kospi index rose over 1%, led by a gain in Samsung Electronics Co. shares. LG Display Co. climbed in Seoul while Advantest Corp. jumped 4% in Tokyo
BUSINESS
Federal Reserve Governor Lisa Cook says she won’t be bullied into stepping down
Trump has tarnished Fed Chair Jerome Powell as “Too Late” for not slashing rates months ago, and suggested he too should step aside.
BUSINESS
Guess will go private in $1.4 billion deal with Authentic
The deal’s valuation includes debt, the company said in a statement
WORLD
SpaceX’s expensive Starship explosions are starting to add up
Since its inception, SpaceX has made highly visible test flights that sometimes fail in spectacular ways something of a calling card, with cinematic broadcasts on X, Musk’s social-media platform
BUSINESS
Intel rescue will depend on Trump as investor — and Pitchman
Wall Street analysts don’t expect the money alone to turn around Intel’s business, which has suffered from years of declining sales and the loss of market share
BUSINESS
China’s rare-earth magnet exports to US hit six-month high after trade deal
The Asian nation shipped 619 tons of rare-earth permanent magnets to the US, up from a low of 46 tons in May, when the two countries were still locked in a damaging tit-for-tat trade war
WORLD
China teases glimpse of advanced new weaponry at military parade
China under President Xi Jinping has been spending heavily to upgrade its military
