United States EIA Crude Oil Stocks Change came in at 0.405M, above forecasts (-2.6M) in December 18

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 - On September 2 ET, global financial markets extended the previous day's risk-off sentiment. U.S. stock index futures diverged in pre-market trading. As of press time, Dow Jones futures were virtually flat, S&P 500 futures fell 0.17%, and Nasdaq 100 futures dropped 0.47%, as rising oil prices and U.S. Treasury yields continued to weigh on risk appetite.

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.