News

The U.S. Treasury Department issued a general license related to Iran.

Bank of England Deputy Governor Ramsden: Increased frequency of supply shocks could lead to higher prices.

Iran has once again raised gasoline prices as the government struggles to cope with declining revenues and maintain a high subsidy system. According to official media reports, the price of the first 110 liters (29 gallons) of gasoline will remain unchanged. Prices for gasoline exceeding this limit will rise from 50,000 rials per liter to 100,000 rials. While Iran has some of the lowest gasoline prices in the world, Iranian officials have been considering adjusting fuel subsidies for months to compensate for lost revenue due to ongoing economic difficulties caused by the war with the United States, including severe sanctions and the US siege of Iranian ports. Iranian Parliament Speaker Qassem Ghalibaf stated, “If we consume rationally, our country’s current gasoline production is sufficient to meet demand. Clearly, we need to conserve gasoline. Of course, part of the responsibility for high gasoline consumption lies not with the public, but with industry.”

The U.S. Conference Board Employment Trends Index for August was 108.53, revised from 107.71 to 107.76 in August.

Oracle (ORCL.N) has issued a tender invitation for a 2-gigawatt renewable energy project in New Mexico.

Bank of England Governor Bailey: I hope to dispel the perception that we have a secret plan to raise interest rates unconditionally.

Bank of England Governor Bailey: The Bank of England's yield curve in the market reflects investors' concerns about further increases in energy prices.

Qualcomm (QCOM.O) shares narrowed their gains to less than 3%, after rising more than 8% earlier.

Oracle (ORCL.N) rose nearly 6%.

German Foreign Minister Waldfol: Anyone advocating for leaving the European Union is jeopardizing our freedom, prosperity, and security.

U.S. Department of Defense official: The United States believes its allies are capable of and will lead Ukraine in its self-defense.

The Dow Jones Industrial Average opened down 464.30 points, or 0.87%, at 52,949.95 on Tuesday, September 8; the S&P 500 opened down 10.50 points, or 0.14%, at 7,707.86; and the Nasdaq Composite opened up 21.41 points, or 0.08%, at 26,528.4.

Qualcomm (QCOM.O) rose more than 7%, marking its biggest single-day gain since August 4.

The Nasdaq China Golden Dragon Index opened down more than 1%, and Baidu (BIDU.O) fell more than 7%.

U.S. stocks opened lower, with the Dow Jones Industrial Average down 0.7%, the S&P 500 down 0.1%, and the Nasdaq Composite up 0.08%. Qualcomm (QCOM.O) rose 5% after reaching a multi-generational product collaboration agreement with Amazon (AMZN.O). Intel (INTC.O) rose 6% on reports that its CPUs will see a further 10% price increase. ASML (ASML.O) rose 3.8%, and TSMC (TSM.N) rose 2.4% after initiating a collaboration on high numerical aperture EUV photomasks.

Automatic Data Processing (ADP) has confirmed that AWS is its cloud service provider.

Bank of England Monetary Policy Committee member Taylor: I do not believe that external shocks will undermine the fundamental rationale for cutting interest rates once uncertainty subsides.

Bank of England Monetary Policy Committee member Taylor: I believe that keeping interest rates at a moderately tight level can provide a safeguard against external risks.

Bank of England Governor Bailey: The war between the US and Iran has led to rising energy prices, which may go even higher in the future.

Indian Prime Minister Modi: Fintech is crucial to India's goal of becoming a developed country.