GLOBAL WASDE CORN END STOCKS AUG: 275M (EST 273M; PREV 275M) || SOYBEAN END STOCKS: 124M (EST 125M; PREV 124M) || TOTAL WHEAT END STOCKS: 273M (EST 271M; PREV 273M) || COTTON END STOCKS: 70M (EST 71M; PREV 71M)
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JAPAN'S MUFG TO LAUNCH INSTANT JGB TRANSACTIONS VIA BLOCKCHAIN - NIKKEI
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MAXELL CLAIMS SAMSUNG VIOLATES MOBILE DEVICE PATENTS, ACCORDING TO USITC.
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USITC WILL DETERMINE A TARGET DATE WITHIN 45 DAYS AFTER INSTITUTING A CASE.
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Apple Names New Government Affairs Chief
Apple has hired Nate Gatten, a longtime American Airlines government affairs executive, as its new vice president of government affairs. He will join on August 31 and oversee Apple’s global government-relations operations, while former legal chief Kate Adams remains as an adviser until October 1.
Gatten’s appointment comes as Apple faces complex policy issues, including tariffs and relations with the Trump administration. A Republican with previous government-relations experience at JPMorgan and Fannie Mae, Gatten is expected to work closely with CEO Tim Cook. Apple is also undergoing a broader leadership transition, with Cook scheduled to become executive chairman as John Ternus takes over as CEO on September 1.
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Apple has hired Nate Gatten, a longtime American Airlines government affairs executive, as its new vice president of government affairs. He will join on August 31 and oversee Apple’s global government-relations operations, while former legal chief Kate Adams remains as an adviser until October 1.
Gatten’s appointment comes as Apple faces complex policy issues, including tariffs and relations with the Trump administration. A Republican with previous government-relations experience at JPMorgan and Fannie Mae, Gatten is expected to work closely with CEO Tim Cook. Apple is also undergoing a broader leadership transition, with Cook scheduled to become executive chairman as John Ternus takes over as CEO on September 1.
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Saudi Oil Exports Show Signs of Recovery
A supertanker has been seen loading at Saudi Arabia’s Ju’aymah terminal for the first time in nearly a month, suggesting the kingdom may be resuming more crude exports through its Persian Gulf facilities. The VLCC can carry roughly 2 million barrels of oil.
Saudi Arabia had shifted millions of barrels of exports to its Red Sea port of Yanbu after disruptions around the Strait of Hormuz. However, Houthi threats against Saudi-linked ships have complicated those routes, while satellite images show reduced activity at Yanbu.
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A supertanker has been seen loading at Saudi Arabia’s Ju’aymah terminal for the first time in nearly a month, suggesting the kingdom may be resuming more crude exports through its Persian Gulf facilities. The VLCC can carry roughly 2 million barrels of oil.
Saudi Arabia had shifted millions of barrels of exports to its Red Sea port of Yanbu after disruptions around the Strait of Hormuz. However, Houthi threats against Saudi-linked ships have complicated those routes, while satellite images show reduced activity at Yanbu.
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Stocks and Bonds Rise After Tame US CPI
US stocks and bonds gained after July inflation data came in line with expectations, reducing fears of an imminent Federal Reserve rate hike. Core CPI rose 0.2% month-over-month and 2.5% annually, while markets now price less than a 50% chance of a September rate increase.
The S&P 500 rose 0.2%, while the Nasdaq 100 gained 0.7%, helped by strong AI-related companies. Treasury yields fell, with the 10-year yield down to 4.67%. Oil remained around $83 a barrel, keeping inflation risks elevated.
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US stocks and bonds gained after July inflation data came in line with expectations, reducing fears of an imminent Federal Reserve rate hike. Core CPI rose 0.2% month-over-month and 2.5% annually, while markets now price less than a 50% chance of a September rate increase.
The S&P 500 rose 0.2%, while the Nasdaq 100 gained 0.7%, helped by strong AI-related companies. Treasury yields fell, with the 10-year yield down to 4.67%. Oil remained around $83 a barrel, keeping inflation risks elevated.
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US 10-Year Note Sale:
- High Yield Rate: 4.683% (prev 4.580%)
- Bid-Cover Ratio: 2.53 (prev 2.59)
- Direct Accepted: 14.7% (prev 10.7%)
- Indirect Accepted: 76.7% (prev 81.5%)- WI: 4.682%
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- High Yield Rate: 4.683% (prev 4.580%)
- Bid-Cover Ratio: 2.53 (prev 2.59)
- Direct Accepted: 14.7% (prev 10.7%)
- Indirect Accepted: 76.7% (prev 81.5%)- WI: 4.682%
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GOOGLE CO-FOUNDER SERGEY BRIN URGED STAFF IN RECENT MONTHS TO FOCUS ON BRINGING THE GEMINI MODEL BACK TO THE FRONTIER OF AI, ACCORDING TO SOURCES, WHILE GOOGLE EXECS CONVENED AN 'ALL-HANDS' MEETING LAST WEEK TO ADDRESS AI UNIT REORGANIZATIONS AMID STAFF CONCERNS
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OTTAWA IS WEIGHING A PROPOSAL ON AUTO TARIFFS AS IT PRESSES THE U.S. FOR A REPRIEVE, SOURCES SAY - GLOBE & MAIL
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IRAN SAYS THE STRAIT OF HORMUZ REMAINS CLOSED WITH NO POLICY CHANGE - AL MAYADEEN, VIA DBNEWS
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IRAN WARNS SHIPS AGAINST VIOLATING STRAIT OF HORMUZ PROTOCOLS - AL MAYADEEN, VIA DBNEWS
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THE U.S. FEDERAL BUDGET BALANCE CAME IN AT A DEFICIT OF $432.308 BLN, WIDER THAN THE FORECAST $346 BLN DEFICIT AND THE PREVIOUS $120.00 BLN DEFICIT
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THE U.S. FEDERAL BUDGET BALANCE FOR JULY CAME IN AT A DEFICIT OF $432.3 BLN, WIDER THAN THE ESTIMATED $346.0 BLN DEFICIT AND THE PREVIOUS $291.1 BLN DEFICIT
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HSBC HAS SET THE PRICING TERMS OF TENDER OFFERS FOR FOUR SERIES OF NOTES
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U.S. CRUDE OIL FUTURES SETTLE AT $83.27/BBL, UP 7 CENTS, OR 0.08%
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