General Market News

Fanatics launched its unified Sports & Casino app ahead of the 2024 NFL season, combining sportsbook, casino, and prediction markets into a single platform. The app features FanCash loyalty currency redeemable across Fanatics' ecosystem and geo-aware functionality that tailors experiences based on user location. Fanatics has become the third-largest and fastest-growing sportsbook in the U.S., driven by innovative customer protections like 'Fair Play' injury insurance.

• Over 50% of new customers cite FanCash as a primary reason for staying with Fanatics, with the loyalty currency redeemable in 20 different ways including game tickets, betting, and merchandise
• Fanatics introduced 'Fair Play Max' protections including First Half and Second Half Injury Protection at no charge, plus Forward Progress Protection for rushing prop bets affected by late-game kneels
• The company became the first betting platform to ban credit cards, offer universal self-exclusion across products, and join the ProhiBet Bad Actor Program to combat athlete harassment

Cooper Companies reported fiscal Q3 2026 adjusted EPS of $3.50, beating estimates by 1.2%, but revenues of $1.066 billion missed expectations by 3.0% due to U.S. channel inventory reductions. The stock declined, weighed by CooperVision's flat revenue growth and ongoing destocking pressures, though CooperSurgical grew 2% with strength in fertility products and services.

• CooperVision revenues were flat year-over-year at $717 million, pressured by proactive U.S. channel inventory cuts, though MiSight myopia control lenses delivered 20% organic growth and MyDay products posted double-digit gains
• CooperSurgical revenues rose 2% to $349.2 million (3% organic growth), driven by fertility segment growth of 5% organically, supported by genomics, new clinic wins, and adoption of the Witness laboratory platform
• Q4 fiscal 2026 guidance calls for revenues of $1.057-$1.080 billion (0-2% organic growth) with adjusted EPS of $1.05-$1.09, as U.S. inventory reductions are expected to continue before normalizing in fiscal 2027

ASE Technology is experiencing strong demand for its leading-edge advanced packaging (LEAP) services driven by AI growth, with LEAP revenues tracking above its $3.5 billion 2026 target and management aiming to double revenues in 2027. The company is adding $2 billion in 2026 CapEx to expand capacity across 13 greenfield and 8 brownfield projects. This growth has already lifted ATM gross margin to 27.3% in Q2 2026, with management targeting above 30% by Q4 2026.

• ATM revenues rose 36% year-over-year to TWD 126.1 billion in Q2 2026, with gross margin expanding to 27.3% from 21.9% a year earlier due to higher LEAP volumes
• ASE is adding $2 billion in 2026 CapEx and managing 21 total facility projects (13 greenfield, 8 brownfield) to provide capacity through 2028 and into 2029
• The Zacks Consensus Estimate indicates revenue growth of 27.9% in 2026 and 22.5% in 2027, though execution risks remain around equipment installation and project timelines
• ASE trades at a forward P/E of 23.31X versus the industry average of 13.95X and faces competition from Amkor Technology and Intel in advanced packaging

Market odds of a Federal Reserve rate hike jumped to 61% on Polymarket after August Producer Price Index data showed wholesale inflation rising 5.4% year-over-year, exceeding the 5.3% estimate. The hotter-than-expected inflation data has shifted trader expectations ahead of the Fed's September 16 meeting under Chair Kevin Warsh, reversing what was previously seen as a likely hold on rates.

• August PPI rose 5.4% year-over-year versus 5.3% consensus, driven by a 4.2% increase in energy prices and 24.1% spike in diesel fuel, with core measures also showing persistent pressure at 4.7% annually
• Polymarket probability for a 25 basis point hike surged from 54% to 61% post-PPI release, with over $111 million in total trading volume on the September decision event
• Treasury yields reflect hawkish sentiment with the 2-year at 4.43% and 10-year at 4.83%, both above the current Fed funds rate upper bound of 3.75%, while upcoming CPI data could further shift hike probabilities

U.S. retail diesel prices hit a record $5.97 per gallon in the week ending September 7, representing an 11.6% monthly increase and a 70% surge from January's $3.46. The spike, driven by geopolitical tensions involving Iran and refinery outages tied to Ukraine conflicts, is expected to trigger widespread inflation as diesel fuels most freight transportation, affecting grocery, retail, and construction costs heading into the fall peak-demand season.

• West Texas Intermediate crude reached $91.48 per barrel on September 1, up 9% in one week, with analysts projecting a possible rise to $120 oil and Americans already absorbing roughly $100 billion in added fuel costs
• Headline Personal Consumption Expenditures inflation ran at 3.7% year-over-year in July, with the energy component surging 15.3%, while retail sales fell 0.6% to $763.6 billion as consumers cut back on goods spending
• Global daily diesel consumption is rising by 2 million barrels as U.S. harvest season, heating-oil buying, and holiday freight cycles converge through November, compounding supply shocks from refinery outages

The liquid alternatives category faces a persistent lifecycle problem, with approximately 2,100 funds going extinct over the past 20 years as investors adopt them post-crisis then abandon them during recoveries. Swan Global Investments argues their Defined Risk Strategy (DRS), a hedged equity approach using actively managed put options, solves this problem by maintaining equity participation in bull markets while managing downside risk, making it suitable for permanent allocation rather than tactical deployment.

• The liquid alternatives universe currently spans 12 Morningstar categories with $627.58 billion in AUM across 1,536 active funds, but approximately 2,100 alternative funds have shut down over the last 20 years due to the crisis-adoption, recovery-abandonment cycle.
• A 20% allocation to Swan's DRS in a traditional 60/40 portfolio historically produced higher returns, lower volatility, and better Sharpe ratio compared to the same allocation to Morningstar Multistrategy liquid alt category average over a 28-year period since July 1997.
• Swan's DRS uses actively managed long-dated put options (covering 85-90% equity ETF positions) that are sold before expiration and re-hedged during market selloffs, year-end periods, or after run-ups, successfully weathering major crises including the Dot-Com Bust, 2008 Financial Crisis, and 2022 inflation bear market.

Friday's upcoming CPI report has become critical for Fed policy, with rate-hike odds rising to 63% following a hotter-than-expected PPI report showing producer prices up 0.4% monthly and 5.4% annually. The August jobs report added 162,000 positions, giving the Fed less reason to worry about economic weakness while inflation remains above the 2% target.

• Producer prices accelerated to 5.4% year-over-year in August from 4.8%, with energy prices jumping 4.2% monthly, raising concerns about persistent inflationary pressure
• Economists expect headline CPI to rise 0.4% monthly (3.4% annually) and core CPI to increase 0.2% (2.4% annually), both still above the Fed's 2% target
• A core CPI reading of 0.3% or higher could strengthen the case for a 25-basis-point rate hike at the Sept. 15-16 Fed meeting, while 0.1% could support holding rates at the current 3.50%-3.75% range

Market expectations for a Federal Reserve interest rate hike next week surged to 70% following an August wholesale price increase and oil prices exceeding $100 per barrel. The Producer Price Index rose 0.4% in August, pushing annual PPI to 5.4%, while ongoing conflict with Iran has intensified inflation concerns. Markets now see a nearly 60% chance of a second rate increase in December.

• The Producer Price Index increased 0.4% in August with annual PPI reaching 5.4%, slightly above forecasts, while crude oil prices jumped past $100 per barrel due to Iran conflict concerns
• Market pricing shows 70% odds of a rate hike at next week's Fed meeting and close to 60% probability of another increase in December, reflecting stubborn inflation dynamics
• The final inflation data before the Fed meeting arrives Friday with the Consumer Price Index release, expected to show 3.4% headline inflation and 2.4% core inflation annually

Legendary video game creator Hideo Kojima announced a partnership with Microsoft's Xbox for his upcoming game 'Physint' after Sony's PlayStation unexpectedly canceled the project in mid-June 2026. Kojima, whose 'Metal Gear' franchise has been central to PlayStation's success since the 1990s, spent three months searching for a new partner before finalizing the Xbox deal.

• Sony canceled development of Kojima's 'Physint' project in mid-June 2026 without providing a specific reason, only stating it was a 'difficult decision' after careful consideration
• Kojima Productions spent three months searching for a new partner before securing the Xbox partnership, with development continuing on the 'genre-defining action-espionage title'
• No release date was announced, and it remains unclear whether 'Physint' will be exclusive to Xbox or available on multiple platforms

As interest rates rise and bond market volatility increases, financial advisors are shifting client allocations away from traditional bonds toward lower-duration alternatives like ultra-short bonds and complementary non-fixed income products. While bonds should remain part of diversified portfolios, investors are exploring alternative income sources including insurance-linked securities, master limited partnerships, covered call ETFs, dividend stocks, REITs, preferred stocks, asset-backed securities, and merger arbitrage trades. These alternatives offer income opportunities but come with tradeoffs, as investors must accept additional risks beyond traditional interest rate exposure.

• Insurance-linked securities like catastrophe bonds offer mid-to-high single-digit returns with performance not directly tied to traditional markets, though returns can turn negative during years with unusually high natural disasters.
• Asset-backed securities from private lending against real assets (rail cars, gas wells, hard collateral) are generating tax-deferred yields in the 6%-10% range with shorter durations of one-to-three years.
• Advisors warn that generating alternative income requires accepting different risk profiles: equity-based options like REITs and dividend stocks add market volatility, while some popular income plays remain interest-rate sensitive, partially defeating the purpose of moving away from traditional bonds.

Existing home sales fell 2% in August to 3.98 million units, the slowest pace since June 2025, as higher mortgage rates dampened buyer activity. Despite housing supply reaching a 4.9-month level (the highest in over a decade), the median home price rose 1.6% year-over-year to a record August high of $429,100. The market showed divergence, with luxury homes above $1 million outperforming while entry-level sales declined.

• Sales activity decreased most in the Northeast and Midwest, reflecting contracts signed in June-July when mortgage rates were elevated
• Housing inventory increased 5.9% year-over-year to 1.62 million homes, yet prices continued rising with the strongest gains in the Northeast where supply is tightest
• Market polarization intensified: sales of homes priced $100K-$250K fell 10% year-over-year while $1M+ homes rose 3.9%; investor/second-home buyers dropped from 21% to 15% of sales

Empire Company Limited reported record first-quarter fiscal 2027 diluted earnings per share, driven by disciplined execution and productivity initiatives despite consumer affordability concerns and trade uncertainty. The Canadian grocery retailer posted a 6.1% year-over-year EBITDA increase to C$712 million and maintained its expectation for adjusted EPS growth at the high end of its 8-11% long-term framework for fiscal 2027.

• Food sales rose 1.7% with same-store sales up 1.2%, while e-commerce sales increased 11.3% year-over-year; EBITDA margin improved 28 basis points to 8.4%, the strongest performance since Project Horizon began over a decade ago
• Empire increased its fiscal 2027 store opening target from more than 20 to more than 25 stores, including four Mayrand locations acquired in June, contributing approximately 2% square-footage growth
• Management reported minimal tariff impact from Canada-U.S. trade tensions, with fewer affected categories than prior disruptions, and stated the company would not accept tariff-related cost increases while working with suppliers to find alternatives

Major U.S. stock indices fell in pre-market trading on September 10, 2026, as rising interest rates pressured equities, particularly technology stocks. The Nasdaq declined 1.08%, the Dow fell 0.98%, and the S&P 500 dropped 0.89%, with the S&P 500 testing critical support at 7,600. Markets face heightened volatility ahead of key CPI data releases.

• Rising U.S. interest rates are particularly toxic for tech stocks, driving the Nasdaq below its 50-day EMA to 29,062.7
• The S&P 500 is testing crucial 7,600 support level ahead of tomorrow's CPI numbers, which could significantly influence Federal Reserve policy decisions next week
• Additional market pressures include upcoming PPI data, war-related headlines, and oil prices spiking above $100, negatively impacting industrial stocks

US stocks opened lower on Thursday as oil prices climbed above $100 per barrel amid Middle East supply disruptions and higher-than-expected producer inflation data increased expectations for another Federal Reserve rate hike. The Dow fell 153 points, while the S&P 500 and Nasdaq declined 0.56% and 0.81% respectively, with Treasury yields reaching multi-year highs.

• WTI crude rose above $100 and Brent topped $105 due to seven-month US-Iran conflict disrupting the Strait of Hormuz and Red Sea energy routes
• August PPI rose 5.4% year-over-year (above 5.3% expected), pushing Fed rate hike probability to 70% for next week's meeting; 2-year Treasury yields hit 4.490%, highest since 2024
• High-beta semiconductor stocks declined sharply with Intel down 2.29% and Micron falling 2.84% as rising yields pressure growth-sensitive tech stocks

The European Securities and Markets Authority (ESMA) warned that a disconnect between deteriorating macroeconomic conditions and elevated market valuations risks triggering an abrupt market correction. The EU watchdog also flagged very high and rising operational risks from cyber threats and AI vulnerabilities, while reiterating concerns about crypto market contagion spreading to traditional finance.

• ESMA cited rising geopolitical tensions, weakening economic outlook, and energy price increases as factors creating a dangerous gap with current investor optimism and high valuations
• Operational risks across financial markets are at very high levels and rising, driven by growing cyber threats and AI advances that can discover and exploit vulnerabilities
• Prediction markets are 'rife with insider trading' according to ESMA, as crypto usage hinders detection of market manipulation, wash trading, and coordinated schemes around real-world events

Wholesale inflation rose 5.4% year-over-year in August, up from 4.7% in July and above the 5.3% estimate, driven primarily by higher energy costs. The stronger-than-expected Producer Price Index report comes as the Federal Reserve prepares to decide on interest rates at its September 16 meeting. Core PPI, excluding food and energy, also increased to 4.7% from 4.2% the previous month.

• Monthly PPI rose 0.4% in August, marking the strongest increase in three months
• Core PPI rose to 4.7% from 4.2%, exceeding expectations of 4.6% and indicating underlying inflation pressures remain elevated
• The report precedes the Consumer Price Index release, which could influence whether the Fed implements a quarter-point rate hike amid division among officials about the appropriate policy response

Spot gold prices fell 1.39% to $4,340.78 per ounce following the release of August Producer Price Index data showing wholesale inflation rose 0.4% month-over-month and 5.4% year-over-year, exceeding expectations. The PPI data suggests producers faced increasing input costs that may be passed on to consumers, influencing market sentiment on inflation and monetary policy.

• Headline PPI rose 0.4% in August (meeting expectations) with annual inflation reaching 5.4%, above the 5.3% consensus and July's revised 4.8% reading
• Core PPI (excluding food and energy) increased 0.2% monthly, below the 0.3% forecast, with annual core inflation at 4.6%
• Gold sold off immediately after the 8:30 am ET data release as PPI is viewed as a leading inflation indicator that signals potential price pressures throughout the economy

The U.S. producer price index (PPI) increased 0.4% in August, meeting economist expectations according to the Dow Jones consensus forecast. This wholesale inflation measure tracks price changes before they reach consumers and provides insight into broader inflation trends.

• The 0.4% monthly increase in wholesale prices matched the Dow Jones consensus forecast exactly
• The PPI measures inflation at the wholesale level, serving as a leading indicator for consumer price changes
• This was a breaking news story with limited initial detail provided at the time of publication

Analysis of S&P 500 performance following Fed rate decisions since 2015 shows stocks typically underperform in the week after meetings, particularly following rate hikes. However, when investor sentiment is bearish (per AAII poll), stocks tend to recover faster and show better returns. With next week's Fed meeting having a 60%+ probability of a rate hike and current bearish sentiment, historical patterns suggest initial weakness followed by a rebound.

• After rate hikes, the SPX averaged a -0.54% decline in the following week with only 40% positive returns, compared to +0.23% when rates were held steady
• When the AAII poll shows more bears than bulls ahead of Fed meetings, the SPX has historically outperformed, averaging +0.22% the following week versus -0.13% when bulls dominate
• The Fed meeting day itself shows average returns similar to typical days (0.10%), but with less frequent positive outcomes and larger moves when gains occur

Nasdaq's venture arm will invest $100 million in Payward, Kraken's parent company, to develop infrastructure for trading tokenized equities. The partnership aims to launch Nasdaq Equity Tokens (NETs) in Q2 2027, enabling trading and settlement of tokenized assets outside conventional market hours while maintaining regulatory compliance. This deepens their March collaboration as traditional exchanges compete with crypto-native platforms expanding into securities trading.

• Nasdaq Equity Tokens (NETs) expected to launch in second quarter of 2027 via Payward's xStocks platform, allowing trading outside normal market hours
• The $100 million investment builds on a March partnership where Nasdaq and Payward agreed to develop tokenization infrastructure together
• Nasdaq recently received SEC approval to allow certain stocks to be traded and settled using blockchain technology, advancing its position against crypto-native competitors