3 themes that drove stocks to another week of records — and a banner month

• Indian stock markets (Sensex and Nifty 50) are expected to decline on September 2, 2026, as rising oil prices driven by the widening conflict in Iran create economic pressure. • HSBC has entered a competitive bidding war against six global private equity firms to acquire a controlling 54% stake in Nuvama Wealth and Investment.

• The Nifty index declined on Monday, driven by negative market sentiment stemming from rising crude oil prices and geopolitical tensions. • Market activity saw a divergence in trading patterns, with foreign investors selling shares while domestic institutional investors continued to buy.

• The EUR/USD pair maintained modest gains on Monday as the US Dollar failed to build on strength gained from hawkish remarks by Fed Chair Kevin Warsh at the Jackson Hole Symposium. • Despite current Euro gains, the US Dollar remains supported by elevated Treasury yields, geopolitical tensions, and expectations of a hawkish Federal Reserve.

• Markets were buoyed this week by strong tech earnings, which helped offset investor caution regarding inflation and provide relief against oil price volatility. • The July personal consumption expenditures (PCE) report, released Wednesday, showed headline inflation was slightly firmer than expected, while core figures remained in line with forecasts.

• US big tech companies are increasingly tapping the euro area bond market, issuing debt with significantly longer-dated maturities than other economic sectors. • This trend helps build the long end of the yield curve, providing a financial structure that domestic corporate issuers in Europe use less frequently.

• The EUR/USD currency pair struggled to attract buyers on Tuesday, trading around 1.1601 after hitting an intraday low of 1.1587. • Despite the release of softer-than-expected US economic data, the US Dollar remained resilient and showed little weakness.

• China's private RatingDog manufacturing PMI rose to 51.5 in August, exceeding expectations and increasing from 50.9 in July. • The growth was fueled by stronger output and new orders, with export business expanding at its fastest rate in six months.

• European equity markets, including the DAX, CAC, and FTSE 100, declined on Tuesday due to rising government bond yields and higher oil prices. • The downturn is driven by investor concerns over inflation and geopolitical instability in the Middle East, which are fueling expectations for tighter monetary policy.

• Global risk sentiment has declined following the return of armed hostilities near the Hormuz Strait, specifically reports that two supertankers were struck. • Stock markets reacted negatively to the escalation, with European markets dropping 0.5% and the US Nasdaq falling 1.2%.

• Global bond yields surged on Tuesday as investors reacted to escalating concerns over international conflicts, persistent inflation, and unstable fiscal outlooks. • In Japan, the 10-year government bond reached its highest yield since 1996, marking a significant spike in volatility for the region.

• Wall Street closed lower as oil prices surged, though the market still recorded overall gains for the month of August. • Brent crude experienced its strongest single-day increase since late July, driven by the resumption of military strikes between the U.S. and Iran.

• ARK, Jump, and BlackRock led a total financing round of $521.75 million to enhance Securitize's infrastructure for the issuance and circulation of global assets. • Market attention is shifting toward critical U.S. economic indicators, including the July international trade data releasing September 3 and a key employment report on September 4.