US stocks inch to more records after oil prices drop

• Spot gold ended a three-week decline on Friday, closing at $4,378.39 for its first weekly gain in a month. • The metal reached an intraday high of $4,399.67, finishing just 33 cents below the $4,400 threshold.

• FedEx Corp. is partnering with Polish billionaire Rafal Brzoska and his company, InPost, to expand its delivery network across European markets. • Brzoska grew InPost into a parcel delivery operation that currently functions across nine different countries.

• US stock markets declined today as the Dow Jones fell 300 points, the S&P 500 dropped 0.26%, and the Nasdaq slipped 0.18%. • Treasury yields neared 5% while oil prices remained above $100 per barrel.

• Germany's governing coalition agreed to a fuel-tax cut and the country's first fuel price cap on September 17, 2026. • Eurogroup finance ministers met with representatives from Canada, Britain, Ukraine, and Switzerland to discuss a windfall tax on energy company profits.

• Andrew Caruana Galizia, Head of Europe and Eurasia at the World Economic Forum, stated that Europe should prioritize its internal market. • He noted that the region will never be fully self-sufficient in certain areas, specifically citing critical raw materials.

• Early in-person and mail-in voting for the midterm elections officially opened across several states between September 13 and September 19, 2026. • Voters began casting ballots during this window to determine the composition of the legislative branches.

• European Union petrol and diesel prices reached record highs this week according to the European Commission. • Petrol costs varied widely across the region, ranging from €1.34 per litre in Malta to €2.56 per litre in Denmark.

• Iran’s Parliament Speaker Mohammad Bagher Ghalibaf mocked the Federal Reserve’s interest rate hike on Wednesday via a post on X. • Ghalibaf shared a satirical "Straits Taylor Rule," a modified version of the standard economic formula central banks use to set interest rates.

• BitMine Immersion Technologies Inc. shares surged on Friday following a strong rebound in the price of Ethereum. • S&P Global Ratings affirmed Axon's 'BB+' credit rating on Tuesday despite the company adding $1 billion in new debt.

• European Union members are calling for a bloc-wide windfall tax on energy firms following record-high fuel prices. • The Pentagon is reviewing options to withdraw between 25,000 and 40,000 U.S. troops from Europe despite threats from Russia.

• The Nifty index settled below 23,350 and the Sensex ended marginally lower during the most recent trading session. • Broader markets showed strength as the Nifty Small Cap 100 index traded over 1% higher and the Nifty Mid Cap 100 rose 0.5%.

• The Dow Jones Industrial Average fell 1.5% this week following the first Federal Reserve interest rate hike since 2023. • August retail sales rose 1.2% to $773.9 billion, surpassing the 0.8% forecast and signaling strong consumer spending.