United States Baker Hughes US Oil Rig Count came in at 419, above forecasts (418)

TradingKey - On Wednesday (September 2) Eastern Time, futures on the three major U.S. stock indices showed mixed performance in pre-market trading. A re-escalation of the U.S.-Iran military conflict caused sharp volatility in energy prices, heightening market concerns over inflation and rate hike risks. Meanwhile, global bond markets extended their sell-off, pushing government bond yields in major economies to multi-year highs, as investors remained cautious ahead of the release of U.S. employment data and the Federal Reserve's Beige Book.

TradingKey - As of the Asian session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, and were last seen consolidating near $4,320, marking a cumulative pull-back of nearly 9% from last week's peak of close to $4,700. A recent significant escalation in the US-Iran military conflict has driven a sharp rally in international crude oil prices (USOIL). Meanwhile, rising expectations of Federal Reserve rate hikes, a strengthening US dollar, and a rapid climb in US Treasury yields continue to put downward pressure on gold.

TradingKey - In the coming week (August 31 to September 4), market focus will gradually shift to the August non-farm payrolls report. As the final monthly employment report before the September FOMC meeting, the non-farm data will serve as a crucial basis for assessing U.S. labor market conditions and the Federal Reserve's policy path in September.

TradingKey - Custom AI chip giant Broadcom (AVGO) will release its third-quarter fiscal 2026 earnings report after the market close on September 2, Eastern Time.

SpaceX SPCX at $171.91, clearing Fib 0.236 at $170.19 after a +19.2% debut close at $160.95. IPO closes June 15. First earnings September 2, 2026. 18,712 BTC in treasury. MSCI inclusion T+1. Fib target $183.96.