Cryptocurrency
Ethereum co-founder Vitalik Buterin announced his intention to donate all proceeds from his cryptocurrency holdings, marking a significant philanthropic move in the crypto space. Bitcoin’s price experienced fluctuations, with some analysts noting that its bull run may require a substantial boost to regain momentum.
US Politics
Kevin O’Leary, a prominent businessman and investor, voiced concerns over Kamala Harris’s tax plan, claiming it could severely impact US businesses. The debate surrounding Trump’s controversial new IVF plan continues, with JD Vance facing scrutiny over its high costs. Trump’s push for the US to become a global hub for cryptocurrency is gaining traction, with various entities including Ripple and Wyoming joining the stablecoin surge.
US Economy
Smith & Wesson Brands reported disappointing results, contributing to a broader decline in pre-market trading. US stocks are poised for a significant fall, driven by anxieties over upcoming jobs data and the surge in the VIX volatility index.
World Politics
The US, UK, and EU signed a legally binding treaty on artificial intelligence, aiming to protect human rights, democracy, and the rule of law. Japan’s Prime Minister candidate expressed concerns over Biden’s opposition to a Japanese steel acquisition, suggesting it could undermine trust between allies. OPEC+ is reportedly delaying an output increase for two months to stabilize oil prices.
World Economy
Asian and European markets experienced declines, with crude oil prices remaining below $70 and the dollar weakening. Despite US export restrictions, China continues to procure Nvidia’s AI chips through smuggling. Google’s ad tech practices are facing scrutiny from the UK’s competition regulator.
Technology
Intel is reportedly considering a sale of its Mobileye unit amidst pressure, while Nvidia, Super Micro, and Arm experienced significant premarket declines. Salesforce acquired a company for $1.9 billion, expanding its data security portfolio. Salesforce CEO Marc Benioff outlined a new strategy focused on autonomous AI agents. Intel is facing pressure to revamp its AI strategy to catch up with Nvidia and AMD. Apple supplier Qualcomm is eyeing Intel units to bolster its product line. Alibaba is expanding its US presence with a new AI sourcing tool.
Electric Vehicles
NIO’s stock is expected to rally around 65% according to top analyst forecasts. Ford’s EV sales surged in August, driven by the F-150 Lightning, though its future EV plans are slowing. Toyota scaled back its 2026 EV production plans due to weakening global demand. A former Tesla executive argued that Elon Musk’s Tesla benefited from EV subsidies, and was harmed by Trump’s policies.
Consumer
Volkswagen’s battery plant in Germany is operating at reduced capacity due to financial strains. McDonald’s is rolling out a smaller McFlurry in sustainable packaging.
Communication
The FCC chief defended Elon Musk’s X and Starlink amid Brazil’s actions. Linda Yaccarino’s trusted lieutenant, Nick Pickles, departed from X. Telegram updated its policy on private chat moderation. India surpassed the US as the second-largest global 5G smartphone market. YouTube shut down Tenet Media following a US indictment.
Industrial
Cleveland-Cliffs CEO criticized US Steel for its attempt to blackmail the US. Boeing’s Starliner is preparing for its departure from the ISS. Delta, Southwest, and other airlines are facing scrutiny from the US Transportation Department over unfair rewards programs. US Steel CEO David Burritt faced criticism from United Steelworkers President.
Healthcare
Wall Street’s most accurate analysts are analyzing three healthcare stocks with over 3% dividend yields. GSK’s asthma drug met its primary goal in a Phase 3 study.
General
Elon Musk and Trump’s federal efficiency plans were criticized by economist Paul Krugman.
Space
Elon Musk’s SpaceX launched its 7,000th Starlink satellite, a significant milestone in the company’s space ventures.
