SWITZERLAND PROPOSES GOLD REFINERY IN US IN TRADE TALKS
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*TURKEY CUTS ONE-WEEK REPO RATE BY 250BPS TO 40.5%; EST. 41.00%
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$AAPL - DA DAVIDSON DOWNGRADES APPLE TO NEUTRAL, KEEPS $250 TARGET

DA Davidson cut Apple (AAPL) to Neutral from Buy, citing weak near-term growth prospects and limited AI impact. Analyst Gil Luria said recent product launches, including the iPhone 16, iPhone 17, and Vision Pro, lack innovation and are unlikely to spark a major upgrade cycle. The firm kept its $250 price target.
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EUROPE WILL NOT REDUCE ITS OWN STANDARDS ABOUT CARS, BUILT UP OVER DECADES, OVER TRADE DEAL WITH US, EU COMMISSIONS SPOKESPERSON SAYS
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AUTHORITIES PLAN NEWS CONFERENCE ON KIRK SHOOTING UPDATES

The Utah Department of Public Safety says its commissioner, as well as the FBI special agent in charge, will speak to reporters at 9 a.m. ET on the campus of Utah Valley University in Orem.

The news conference will be streamed on the department’s Instagram page.
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TRUMP'S ENVOY ON UKRAINE KELLOGG VISITS KYIV, SOURCE FAMILIAR WITH MATTER SAYS
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*ECB LEAVES DEPOSIT FACILITY RATE AT 2%; EST. 2.00%

*ECB LEAVES MAIN REFINANCING RATE AT 2.15%; EST. 2.15%
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SURVEY: 34% OF STUDENTS SAY VIOLENCE MAY BE JUSTIFIED TO STOP SPEECH

A FIRE survey of 70,000 college students found that 34% believe violence can be acceptable to stop campus speakers—up from 24% in 2021.

Of those, 19% said it’s rarely acceptable, 13% sometimes, and 2% always. Meanwhile, 66% said violence is never acceptable.
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AUGUST CPI PREVIEW

Median forecasts from 18 institutions see:

🔸 Headline CPI (Aug): +0.36% m/m, 2.9% y/y (vs. 0.2% m/m, 2.7% y/y in July)
🔸 Core CPI (Aug): +0.32% m/m, 3.1% y/y (steady from July)

Estimates range:

🔸 Core m/m: 0.26%–0.36%
🔸 Headline m/m: 0.29%–0.39%

Bottom line: Inflation pressures expected to firm slightly, keeping core stuck at 3.1%.
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QATAR SAYS AXIOS REPORT ABOUT REEVALUATING ITS SECURITY PARTNERSHIP WITH U.S. IS 'CATEGORICALLY FALSE' - STATEMENT

QATAR SAYS ITS SECURITY AND DEFENCE PARTNERSHIP WITH US IS 'STRONGER THAN EVER AND CONTINUES TO GROW'
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*US AUG. CONSUMER PRICES RISE 0.4% M/M; EST. +0.3%
*US AUG. CONSUMER PRICES RISE 2.9% Y/Y; EST. +2.9%

*US AUG. CORE CPI RISES 0.3% M/M; EST. +0.3%
*US AUG. CORE CPI RISES 3.1% Y/Y; EST. +3.1%
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*US JOBLESS CLAIMS 263K IN SEPT. 6 WEEK; EST. 235K
*US CONTINUING CLAIMS 1.939M IN AUG. 30 WEEK; EST. 1.951M
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US SHORT-TERM INTEREST RATE FUTURES RISE AFTER ECONOMIC DATA, AS TRADERS FIRM BETS ON FED RATE CUTS
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INITIAL CLAIMS SOARS TO THE HIGHEST SINCE OCT 2021 AT 263K
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🚨 RATES FUTURES PRICING REFLECTS BETS ON FOUR STRAIGHT QUARTER-POINT FED RATE CUTS THROUGH JANUARY
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*US 10-YEAR YIELD FALLS BELOW 4% FOR FIRST TIME SINCE APRIL
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*POLAND: NETHERLANDS, FRANCE, UK TO SEND AIR DEFENSE SUPPORT
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🚨 TRADERS FULLY PRICE IN THREE FED RATE CUTS BY END-2025
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$MSTR - S&P 500 REJECTION A SETBACK FOR MICROSTRATEGY AND CRYPTO TREASURIES: JPMORGAN

JPMorgan said the S&P 500 committee’s decision to block MicroStrategy’s inclusion is a major setback for corporate crypto treasuries. The move signals reluctance to treat bitcoin-heavy firms as eligible for the benchmark index.

While MicroStrategy is included in other indices, JPMorgan warned this rejection could prompt index providers to reconsider crypto-linked companies. The bank also noted growing investor fatigue, weaker issuance, and rising risks to the sustainability of corporate crypto treasury models.
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PIMCO’S WILDING ON U.S. DATA

Pimco economist Tiffany Wilding said inflation met expectations, but a sharp rise in jobless claims is more concerning. After a year of weak labor activity, the increase signals potential layoffs, which she called “super concerning” for the Fed.
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TRADERS PARE ECB EASING BETS, INDICATE RATE-CUT CYCLE IS OVER
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