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US stocks closed mixed on Monday as declines in key technology shares outweighed the effect of falling Treasury yields, according to Sina Finance.
The Dow rose 140.14 points, or 0.26%, to 53,417.16, while the S&P 500 fell 21.51 points, or 0.28%, to 7,652.86, and the Nasdaq dropped 200.26 points, or 0.76%, to 25,980.19. Chip stocks weighed on the broader market, with Micron down 5.8%, AMD off more than 3% and Broadcom down 2%. The iShares SOXX ETF fell 2.7%. Other technology names also declined, as Coherent and Lumentum each dropped more than 4%, SanDisk fell 6%, Corning lost nearly 3% and Seagate Technology declined 6.5%.
Among the "Magnificent Seven," Nvidia fell 2.91%, marking its seventh consecutive session of losses and its longest losing streak since 2022. Meta rose 1.66%, Amazon gained 1.33%, Microsoft added 0.84%, Google climbed 0.83% and Apple rose 0.32%, while Tesla fell 3.83%.
Among crypto-related stocks, Robinhood dropped more than 4% and IREN fell 4.9%. Treasury yields eased after media reports that the US Treasury might use its general account to fund buyback operations. The 10-year Treasury yield fell more than three basis points to 4.704%, and the 30-year yield, which topped 5.3% last week to reach a near-two-decade high, fell four basis points to 5.234%.
Treasury Secretary Scott Bessent said last week the department plans to at least double the size of government debt buybacks in the coming months, potentially exceeding the $4 billion announced that week. Rising global bond yields have pressured equities, with rates in Japan, France and Germany climbing to multi-year highs amid investor concerns that a US-Iran conflict could persist, keeping oil prices elevated and lifting inflation.
Sentiment was also hurt Monday after President Trump announced the US will raise tariffs to 50% on "all cars, trucks of any size, auto parts and steel" imported from Canada, effective January 1, 2027. Investors will receive fresh inflation data this week in the form of the July personal consumption expenditures price index, due Wednesday. Artificial intelligence will also be in focus, with Nvidia and Marvell Technology set to report earnings after the close on Wednesday and Thursday, respectively.

According to Wallstreetcn, WTI October crude oil futures settled at $85.01 a barrel, NYMEX September natural gas futures settled at $2.7820 per million British thermal units, NYMEX September gasoline futures settled at $3.2708 a gallon, and NYMEX September heating oil futures settled at $4.2677 a gallon.

Investment bankers and potential buyers are looking at assets that could come up for sale as Paramount Skydance Corp.'s legal fight to buy Warner Bros. Discovery Inc. continues, according to Bloomberg.
People familiar with the discussions said the dispute has dragged on, keeping attention on possible Warner assets that may be available.

Asian refiners are on course to nearly double their purchases of US crude for September from a month earlier, according to Bloomberg. The buying surge is expected to add pressure on domestic fuel makers as Americans face record-high pump prices.

Bitcoin gained 23.6% last week, surging from around $62,000 to as high as $79,500 before settling near $77,000 — its second-best weekly performance since February 2021, surpassed only by the rally following the Silicon Valley Bank crisis in March 2023. Ether performed even better, climbing 31.3% from below $1,900 to above $2,520 before retreating just below $2,500. US-listed spot Bitcoin ETFs attracted $1.92 billion in net inflows during the week — their largest weekly total since October 10, when Bitcoin was just shy of its $126,000 record high — while Ether ETFs recorded $697 million, their strongest week since early October 2025. The rally carried both assets above their 200-day simple moving averages, with shorter-term moving averages beginning to turn higher and raising the prospect of a golden cross. Gold climbed back above $4,600 — up 15% over the past month and above its 200-day average of $4,504 — while the Dollar Index fell to 98.9, slipping below its 200-day average of 99.1.
Why the Move Was This Violent — Compression Before the Break
The scale of the rally reflects the market conditions that preceded it as much as the catalyst that triggered it. Crypto had spent several months consolidating — the $60,000-$70,000 range became the third-longest consolidation in Bitcoin's history — while volatility bled to multi-year lows and investors steadily accumulated. That compression created the conditions for an explosive move: positioning had become increasingly sensitive to any catalyst capable of breaking prices out of their ranges.
The mechanics of that sensitivity were visible throughout August in the data. BVIV at a 2026 low of 35.59%. Spot volumes at two-and-a-half-year lows. Perpetual volumes at three-year lows. Perpetual open interest holding above 300,000 BTC while volumes collapsed — elevated leverage against a thin tape. ARP Digital's Yusuf Fakhro described the setup precisely at the time: a box rather than a launchpad, with leverage sharpening the risk in either direction. When the catalyst arrived, the thin order books amplified every dollar of buying into an outsized price move.
The Catalyst — Bessent's Treasury Buyback Expansion
Treasury Secretary Scott Bessent's announcement expanding Treasury bond buybacks pushed yields and the dollar lower, supporting risk assets broadly. The buyback's mechanism runs through the term premium: by repurchasing long-dated government debt, the Treasury reduces the supply of long-duration paper that private portfolios must absorb — directly relieving the pressure that had driven the 30-year yield to a 19-year high just days earlier.
The intended target was the bond market. What it produced was a Bitcoin surge. The transmission is straightforward: lower long-dated yields reduce the risk-free return competing with non-yielding assets, a weaker dollar raises the dollar-denominated price of scarce assets, and looser financial conditions restore the risk appetite that elevated yields had suppressed since February. Every link in the macro chain that Fidelity's Jurrien Timmer identified as capping Bitcoin all summer — oil to inflation to yields to dollar to risk assets — reversed simultaneously.
$1.92 Billion in ETF Inflows — the Largest Week Since Bitcoin's Record High Period
Bitcoin ETFs pulling $1.92 billion in net inflows — the largest weekly total since October 10, 2025, when Bitcoin traded just below its $126,000 record — is the institutional confirmation that separates this rally from a purely mechanical short squeeze. The October 10 comparison is the important context: that week occurred at the peak of the prior cycle's institutional enthusiasm, with Bitcoin near all-time highs and momentum-driven allocation at its most aggressive. Matching that inflow level from $62,000 rather than $126,000 describes institutional buyers deploying capital into strength rather than chasing a top.
Ether ETFs recording $697 million — their strongest week since early October 2025 — confirms the institutional bid extended beyond Bitcoin. Ether's 31.3% weekly gain outpacing Bitcoin's 23.6% is the clearest ETH-over-BTC performance divergence of the recovery, validating the institutional preference signals that had been accumulating throughout August: Bitmine's uninterrupted weekly ETH accumulation, ETH ETF inflows outpacing Bitcoin's in specific weeks, and ETH exchange outflows of $164.6 million in a single week as coins left exchanges.
Above the 200-Day, Golden Cross in Sight
Both Bitcoin and Ether closing above their 200-day simple moving averages is the technical confirmation that distinguishes a bear market bounce from a trend change. The 200-day moving average is the most widely tracked long-term trend indicator in markets — sustained trading above it is the conventional definition of a bull trend, sustained trading below it a bear trend. Bitcoin had been below its 200-day for the duration of the correction from $126,080.
The golden cross — when the 50-day moving average crosses above the 200-day — is the next signal traders are watching. Shorter-term moving averages beginning to turn higher means the mathematical conditions for that crossover are forming. Golden crosses are lagging indicators by construction: they confirm trend changes after they have begun rather than predicting them. But they carry weight precisely because so many systematic and momentum strategies use them as entry triggers, creating mechanical buying when the cross completes.
This sits alongside the inverse head-and-shoulders pattern that completed earlier in the rally — the $66,600 neckline break projecting a $76,000 measured-move target that Bitcoin exceeded at $79,500. Multiple independent technical frameworks confirming the same directional shift is stronger evidence than any single pattern.
The Debasement Trade Returns
Narrative often follows price, and talk of the debasement trade is returning — investors moving into scarce assets like Bitcoin and gold to protect against the erosion of fiat purchasing power caused by rising debt, money creation, or persistent inflation. Gold above $4,600, up 15% over the past month and above its 200-day average of $4,504, and the DXY at 98.9 below its 200-day average of 99.1, are the two data points that give the narrative empirical grounding.
The debasement framing carries specific weight this cycle because of what preceded it. US national debt reached $39.91 trillion in August — within $100 billion of the $40 trillion threshold — while the 30-year Treasury auction drew 5.22%, the highest since 2001, and the 30-year yield briefly touched a 19-year high. Sovereign bond yields hit multi-decade highs simultaneously across the US, Japan, Germany, and France. That configuration — peak debt, peak borrowing cost, no sovereign safe haven within traditional fixed income — is the precise environment the debasement thesis describes.
Ray Dalio's comment that investors should own some Bitcoin as US debt risks rise adds institutional credibility to the framing at exactly the moment the price action supports it. Whether Bitcoin's categorization genuinely shifts from liquidity-sensitive risk asset toward partial debasement hedge will be tested the next time equities sell off — if Bitcoin holds while stocks fall, the reclassification is real. Last week it moved with gold while equities lagged, which is the first sustained evidence in that direction.
What Remains Unresolved
The rally has cleared the technical and institutional hurdles that defined the bear market, but the macro calendar that follows it is dense. New US-Iran sanctions, Fed Chair Warsh's first Jackson Hole speech, July core PCE, and Nvidia earnings all land within days of each other. Brent crude remains above $90 with Hormuz shipping near zero. The 23.6% weekly gain came from $62,000 — a low base that reflects how compressed the market had become, not how strong the underlying demand was in absolute terms.
The most constructive structural detail is the one that appeared in the derivatives data as the rally consolidated: Bitcoin futures open interest fell to a two-month low of 715,000 BTC even as price rose 24%, confirming the advance was driven by spot buying and short covering rather than fresh leverage. Rallies built on spot demand are considerably more durable than rallies built on leverage. That, more than the price level, is what distinguishes this week from the failed recovery attempts that preceded it.

Bitcoin’s 25% weekly rally has pushed Zcash (ZEC), Aave (AAVE) and XRP sharply higher, with each clearing long-standing technical resistance on rising volume. According to BeInCrypto, ZEC gained 75.5% to $846.51, AAVE rose 64.5% to $136.08 and XRP climbed 53% to $1.50, while Bitcoin traded near $78,702 after hitting its highest level since May.
ZEC now targets $903, AAVE faces resistance at $150 and XRP has $1.70 in view, with all three setups dependent on Bitcoin holding its gains.

Oil held a decline as the US ramped up economic pressure on Iran and its trading partners in an effort to force the resumption of energy flows through the Strait of Hormuz, according to Bloomberg.

According to Yonhap, HKET and RTHK, Asian index futures traded mixed in the overnight session as investors awaited details of threatened US sanctions on Iran and braced for Nvidia's earnings; US long-bond yields eased, spot gold pushed to a three-month high above $4,700 and oil settled about 2.4% lower.
Nikkei 225 futures for the September 2026 contract ended the Osaka Exchange night session at 65,360, down 80 points, after trading between a high of 65,950 and a low of 64,850 on volume of 5,346 lots. The more active Nikkei 225 mini September contract closed the night at 65,330, down 110 points, on volume of about 180,500 lots, with AI-linked names remaining under pressure.
In Seoul, the KOSPI 200 night futures contract fell 1.77%, extending the cash market's slide after Samsung Electronics' weaker-than-expected shareholder-return plan. The Philadelphia Semiconductor Index dropped 2.70% and SK Hynix's US-listed shares lost 4.92%, while the MSCI Korea ETF also declined. Kiwoom Securities analyst Han Ji-young said the prior session's weakness reflected short-term supply-side volatility around Samsung sell-on flows and caution ahead of Nvidia's results, rather than a fundamental crack.
Hong Kong's Hang Seng Index futures firmed overnight, with the August 2026 contract closing the after-hours session at 25,599, up 145 points from the day-session settlement of 25,454, after ranging between 25,657 and 25,451 on volume of 17,957 lots. US-listed Hong Kong ADRs broadly advanced: Alibaba's ADR rose more than 3% above its local close to an HK$116.1 equivalent, with JD.com and Tencent ADRs up around 1% and Ping An and HSBC ADRs also firmer.
Taiwan's TAIEX futures near-month September contract closed the TAIFEX night session at 44,532, down 208 points or 0.46%, trading between a high of 45,015 and a low of 44,270 on volume of 32,394 lots.

On-chain analyst Ai Yi said Machi closed all Bitcoin long positions and part of three other token longs after Bitcoin broke $79,000, locking in $333,000 in gains. According to Odaily, Machi's remaining ETH, HYPE, and PUMP holdings were valued at $94.92 million, with unrealized gains of more than $2.88 million.

Bitcoin is entering the final week of August with its strongest monthly performance in nearly a decade, up 23% month-to-date and on track for its best August since 2017 when it rose 65%, according to Coinglass data. The median August return is -7% — making the current month a significant departure from Bitcoin's most reliable seasonal weakness. That momentum now faces a dense calendar: the Jackson Hole symposium running August 26-28 with Fed Chair Kevin Warsh's first keynote, July core PCE on Wednesday, the second estimate of Q2 GDP, and IREN earnings Thursday.
"Bitcoin enters next week with considerable momentum, but also with a much higher bar to clear after its strongest weekly rally in years," Capital.com senior market analyst Daniela Hathorn told CoinDesk. Her framing of the Warsh risk is precise: a speech that keeps further Fed tightening at arm's length would preserve the weaker-dollar, lower-yield backdrop that drove the rally, while a hawkish surprise could trigger profit-taking. Grvt co-founder and CEO Hong Yea described the week as shaped by the "collision of Jackson Hole with geopolitical risk" — US-Iran uncertainty lingering while Russia's invasion of Ukraine continues to threaten escalation beyond a local conflict.
Warsh at Jackson Hole — The Week's Defining Variable
Fed Chair Kevin Warsh's first Jackson Hole keynote is the single event most capable of extending or reversing Bitcoin's August advance. Jackson Hole has historically been where Fed chairs signal policy inflections rather than merely restate existing guidance — which makes a first appearance by a new chair carry disproportionate weight.
The specific mechanism connecting Warsh's speech to Bitcoin runs through the same chain that produced the rally. Treasury Secretary Bessent's bond buyback expansion pushed long-dated yields and the dollar lower, cracking a six-week range. The DXY has fallen to 98.9, below its 200-day average of 99.1. Goldman Sachs has called a September hike "very unlikely," with CME FedWatch pricing roughly 28-30% probability. If Warsh validates that dovish positioning — signaling comfort with the current rate level given soft employment data and moderating inflation — the weaker-dollar backdrop persists and Bitcoin's structural support remains intact. If he emphasizes oil-driven inflation risk with Brent above $90, or defends the 2% target as a hard constraint requiring further tightening, the yield and dollar moves that fueled the rally reverse.
Hathorn's "much higher bar" observation is the important qualifier. At $62,000 with sentiment in the fear zone, Bitcoin had limited downside sensitivity to a hawkish surprise — the bad news was priced. At $78,000 after a 23.6% weekly gain, positioning is materially different: profit-taking pressure exists at every level, and a hawkish Warsh gives holders a reason to act on it.
Core PCE Wednesday — 0.2% MoM Expected, YoY Steady at 3.3%
July core PCE arrives Wednesday at 8:30 a.m. ET with consensus at +0.2% month-over-month against the prior +0.1%, and +3.3% year-over-year unchanged from the prior reading. Core PCE is the Fed's preferred inflation measure, and its arrival two days before Warsh speaks makes it the data input that will shape his framing rather than a standalone catalyst.
The year-over-year figure holding steady at 3.3% is the more consequential number. A flat YoY reading means the disinflationary progress that Goldman cited — soft retail sales, cooling employment, slowing CPI — has stalled at the core level rather than continuing to improve. Warsh's stated framework requires evidence that inflation is on a sustainable path back to 2%. A 3.3% core PCE that is not falling gives him room to maintain optionality on September rather than confirming the market's dovish pricing.
An upside surprise above +0.3% MoM would be the more disruptive outcome — reviving the inflation persistence narrative at exactly the moment Bitcoin is at its most extended and positioning is at its most vulnerable to profit-taking.
The Rest of the Macro Calendar
The week is unusually data-dense beyond the two headline events. Tuesday brings weekly ADP employment change against a prior 9,500, CB Consumer Confidence for August estimated at 91.2 against 90.8 prior, and July money supply against $23.15 trillion prior. Australia's July inflation rate and RBA trimmed mean CPI arrive Tuesday evening.
Wednesday pairs core PCE with the second estimate of Q2 GDP growth, expected at 1.5% quarter-over-quarter against 2.1% prior — a meaningful downward revision that would support the soft-growth case Goldman built its "very unlikely" September hike call on. South Korea's rate decision follows Wednesday evening against a 2.75% prior.
Thursday brings initial jobless claims estimated at 210,000 against 206,000 prior. Friday delivers final Michigan consumer sentiment for August estimated at 51.0 — a sharp drop from 55.2 prior — with one-year inflation expectations estimated at 4.3% against 4.2%. The combination of collapsing sentiment and rising inflation expectations is the stagflationary signature that complicates the Fed's framework in both directions.
Friday also brings the preliminary annual non-farm payrolls revision against a prior -911,000. Annual benchmark revisions of that magnitude materially restate the labor market picture the Fed has been operating on, and a further large downward revision would strengthen the case that employment has been weaker than the monthly prints suggested.
Crypto-Specific Catalysts
Comments close Monday on two joint SEC-CFTC requests covering derivatives product definitions and alternative compliance, and swap data reporting — both with direct relevance for crypto derivatives regulation. The joint agency approach is notable in itself: SEC-CFTC coordination on derivatives definitions is the regulatory groundwork that a Clarity Act framework would build on, and the comment record will shape how digital asset derivatives are classified regardless of legislative outcomes.
BNB Smart Chain activates its Pasteur hard fork Monday at 10:30 p.m. ET.
Earnings — IREN and Hyperliquid Strategies
IREN reports Thursday post-market with an estimated -$0.63 per share. IREN has been the clearest expression of the Bitcoin-miner-to-AI-infrastructure pivot, with $2.8 billion in contracts across Microsoft, Nvidia, Perplexity, and Figure AI. The estimate reflects the heavy capital expenditure phase of that buildout rather than operational weakness — the number that matters is contracted revenue progression and any commentary on data center capacity delivery timelines. Amazon's 37% AWS growth, CoreWeave's beat, HIVE's $350 million GPU cloud deal, and SK Hynix's $38 billion memory commitment have all confirmed AI infrastructure demand is accelerating. IREN's report is the read on whether the crypto-adjacent players are converting that demand into revenue.
Hyperliquid Strategies reports Thursday pre-market at an estimated $0.79. HYPE set a record high of $83.30 late Sunday and gained roughly 28% over the past week, fueled partly by Trump's comments on CFTC oversight.
The Seasonal Context — Breaking August's Pattern
Bitcoin up 23% month-to-date against a -7% median August return is a genuine seasonal anomaly worth noting. August has been reliably weak for Bitcoin, and September historically weaker still — down roughly 4% on average since 2013 per STS Digital's Jeff Anderson. Bitcoin outperforming its worst-performing month by 30 percentage points against the median heading into its second-worst month sets up a specific tension: either the seasonal framework has broken because the structural drivers changed, or the September weakness arrives on schedule against extended positioning.
The structural case for the former is the detail that emerged in the derivatives data as the rally consolidated — Bitcoin futures open interest fell to a two-month low of 715,000 BTC even as price rose 24%, confirming the advance was spot-driven rather than leveraged. Spot-driven rallies carry considerably less unwind risk into a seasonally weak period than leveraged ones. Whether that holds through Warsh, core PCE, and the geopolitical overhang Hong Yea flagged is what the week will settle.

JPMorgan Chase & Co. and Banco Santander SA are leading financing of up to $15 billion for Argentina LNG, a project to liquefy and export the country’s shale gas reserves, according to Bloomberg.
People familiar with the matter said the deal is for the landmark Argentina LNG project.

Machi Big Brother has closed all BTC long positions and part of long positions in three other tokens as Bitcoin broke $79,000, according to Ai Yi monitoring. According to Foresight News, he booked about $333,000 in profit, while remaining ETH, HYPE, and PUMP positions worth about $94.92 million were still showing unrealized gains of more than $2.88 million. Total losses narrowed further.

Bloomberg Television said its latest Wall Street close coverage featured guests including Principal Asset Management CEO and President Kamal Bhatia, Tether co-founder Bill Quigley and Goldman Sachs Research US Software Equity Research Analyst Gabriela Borges.
Other guests included Bilt CEO Ankur Jain, Equinox Group Executive Chairman Harvey Spevak, GenTrust Head of NY Office and Senior Client Advisor Mimi Duff, Apollo Chief Economist Torsten Slok, Hartree Partners Senior Advisor Ed Morse, Columbia Threadneedle Investments Portfolio Manager Ed Al-Hussainy and Canada Chamber of Commerce Principal Economist Andrew DiCapua, according to Bloomberg.

CASHCAT's market capitalization reached a high of $234 million this morning and was $214 million at the time of reporting. According to Foresight News, the token rose 43.44% over the past 24 hours.

According to Wallstreetcn, at Monday's New York close, S&P 500 futures fell 0.19%, Dow futures rose 0.35%, Nasdaq 100 futures fell 0.88%, and Russell 2000 futures fell 0.62%.

According to Jin10, Boeing (BA.N) has received a U.S. Air Force contract ceiling of up to $13.12 billion for the F-15 Eagle Crest program, with the ordering period expected to end on August 24, 2031, and an option to extend it to August 24, 2036.

According to Jin10, Citi raised its 0-3 month gold price target to $4,800 per ounce from $4,500, while keeping its 6-12 month target unchanged at $5,000 per ounce.

According to RTHK, Yonhap and HKET, Asian equities opened broadly lower on Tuesday, tracking an overnight retreat in US technology and semiconductor shares, with Seoul and Tokyo leading regional declines while Hong Kong steadied on a bounce in Alibaba.
Tokyo's Nikkei 225 slipped below the 65,000 mark early, trading at 64,928.63, down 0.91% or 599.46 points as of 01:38 UTC, after most AI-linked heavyweights fell. Advantest dropped 4.46% while SoftBank Group eased 0.54%. The index had ended Monday at 65,528.09.
Seoul's Kospi tumbled 2.69%, or 180.12 points, to 6,516.84 as of 01:38 UTC, extending the prior session's slide, with the Kosdaq opening down 6.40 points at 806.93. Samsung Electronics fell 3.31% and SK Hynix dropped 5.63% after Yonhap reported the chipmaker's union narrowly rejected a tentative wage deal, with 50.08% voting against.
Hong Kong stocks steadied after Monday's rout, with the Hang Seng Index opening up 116 points at 25,634 and the Hang Seng Tech Index up 0.2% at 4,602. The benchmark stood at 25,540.50, up 0.09%, as of 01:38 UTC. Alibaba rebounded 2.04% to HK$114.80 a day after its record HK$80 billion share placement to fund AI, while Xpeng dropped more than 8% following results.
Taiwan's TAIEX opened down 33.96 points at 44,728.36 and extended losses to 44,416.01, off 0.77% or 346.31 points as of 01:38 UTC, as chip names weakened. TSMC fell 0.84% to NT$2,355.
In mainland China, the Shanghai Composite eased 0.36% to 3,868.04, the CSI 300 fell 0.56% to 4,537.41 and the Shenzhen Component dropped 1.17% to 13,632.24, all as of 01:39 UTC, with technology sectors under pressure amid a report the US plans to impose a 7.5% overcapacity tariff on Chinese goods ahead of a Xi-Trump meeting.

According to Jin10, Hong Kong stocks opened higher, with the Hang Seng Index up 0.46% and the Hang Seng Tech Index up 0.18%; XPeng Group (09868.HK) fell 8.18% after earnings, while Leapmotor (09863.HK) rose 2.57% after earnings.

According to Jin10, Junzheng Shares (03223.HK) opened flat on its first day of trading in Hong Kong, with an opening price of HK$100.00 matching its offering price.

Barclays said global bonds remain too expensive to attract buyers despite a sustained selloff. According to Sina Finance, strategists Ajay Rajadhyaksha and Anshul Pradhan wrote that stubborn inflation, governments' reluctance to cut spending, and resilient global growth are still pressuring bond markets.
They said bond prices are now trading closer to fair value than at any point in recent years, but the forces pushing yields higher have not been exhausted. The report also said artificial intelligence capital spending has shown no sign of slowing, Japan's capital is flowing back, and the only reason to be bullish on bonds would be a sharp economic downturn or a severe shock that forces the Federal Reserve back into rate cuts.

According to Wallstreetcn, Morgan Stanley said the U.S. Treasury could move $80 billion to $200 billion from its cash reserve held at the Federal Reserve, known as the Treasury General Account (TGA), to support expanded Treasury buyback operations.

According to Jin10, Nvidia (NVDA.O) fell more than 3% in late U.S. trading.

According to Jin10, the Reserve Bank of Australia said in its meeting minutes that policy appears sufficiently restrictive to bring inflation back to target within a reasonable timeframe.

U.S. stocks fell, while Hong Kong ADRs rose 236 points, or 0.92%, to 25,753, according to Ming Pao.
The current-month Hang Seng Index night futures gained 145 points to 25,599, leaving them 82 points above the cash market.

A Wall Street maxim known as KISS, or "Keep It Simple, Stupid," is being framed as a practical trading approach for this week’s crowded market backdrop. According to Sina Finance, the article says buying SPY call options is a better way to go long the market, citing Treasury yields, Nvidia’s earnings, trade and tariff risks, and other catalysts.
The piece says the 30-year Treasury yield has touched a 20-year high, while U.S. Treasury Secretary Scott Bessent’s effort to influence the long end of the curve through short-term borrowing and long-bond buybacks lasted only about one day. It adds that the 10-year Treasury yield briefly fell to about 4.64% before rebounding to 4.73% at the week’s close, the highest level since after the global financial crisis.
It also points to Nvidia’s earnings report due Wednesday as another major catalyst. The article says a miss would make it hard for the broader market to rally, and notes that Nvidia’s stock has averaged a decline of about 6% after its last four earnings reports.
Trade and tariff risk remains another concern. The article says talks between the U.S. and Canada have broken down again, and Canadian Prime Minister Mark Carney has confirmed retaliatory tariffs will take effect on September 8. It also cites a Bloomberg report saying Carney believes it is nearly impossible to restart talks with U.S. President Donald Trump before the midterm elections.
The article says memory stocks have weakened sharply after a strong run, even when earnings have been solid. It also says SPY option prices remain cheap, with 30-day at-the-money implied volatility around 12.6%, and describes a 1.2% out-of-the-money call option with 7.5 weeks to expiry that closed at $12.15 on Friday, equal to 1.6% of the underlying’s closing price.

According to Jin10, minutes from the Reserve Bank of Australia’s August meeting showed that its nine-member policy board was divided over whether to raise rates, with several members saying a rate hike may be necessary given upside inflation risks. The minutes said other members believed the current 4.35% cash rate was working to help lower inflation and that there was time to watch economic developments. They also warned that upcoming data would need to show inflation falling further to the 2% to 3% target range within a reasonable period. The committee listed the Middle East conflict, the global boom in artificial intelligence and data center investment, and weak productivity as major risks, while some members said those risks remained uncertain and recent economic developments meant there was more time to keep policy unchanged. Market pricing showed only a 13% chance that the RBA would lift the cash rate to 4.6% at its next meeting on September 28 to 29, and about a 67% chance of a rate hike by next February.

Canada is set to announce retaliatory tariffs against the United States on Tuesday, according to multiple people familiar with the matter. According to Sina Finance, Canadian Finance Minister François-Philippe Champagne and three other ministers will formally unveil the measures at a company in Canada on Tuesday morning, and Employment Minister Patty Hajdu will also attend.
One source said the Canadian government will also expand coverage of Employment Insurance (EI) to help domestic workers affected by U.S. tariffs. The source added that provincial premiers are expected to receive a briefing by phone on the same day.
Canadian Prime Minister Mark Carney said the U.S. terms amounted to a "bad deal" after speaking with reporters in Lévis, Quebec, on Monday local time. He said Canadian officials would only resume talks if U.S. negotiators showed the "right attitude" toward their own industries.

Sammons Financial Group told lenders it has some distance from Mark Walter’s Guggenheim Partners after a report last week on the firms’ longstanding ties hurt the value of the life insurer’s bonds, according to Bloomberg.

Indian traders are preparing for the first monthly derivatives expiry that will use auction-based end-of-day stock prices, according to Bloomberg.
The mechanism has drawn backlash over sharp swings and allegations of manipulation.

Gold traded at $4,643.95 on Monday, a three-month high, after rallying about 17% from its July low and pushing December COMEX futures above $4,700 for the first time in more than three months. The move ended a correction that began at the January record of $5,598, according to BeInCrypto, as weekly and daily charts showed the downtrend had been broken.
The rally accelerated after US federal debt topped $40 trillion, Treasury Secretary Scott Bessent doubled debt buyback operations and the dollar index fell below 100.

Donald Trump's family has won preliminary approval to start a national bank under the Trump administration's deregulation push, according to Bloomberg.
Bloomberg's Paige Smith discussed the move with Bloomberg Intelligence.

nVent Electric Plc agreed to acquire power distribution company Maverick Power for $1.75 billion, according to Bloomberg.
The deal is part of nVent's effort to increase exposure to surging AI data center construction.

According to Wallstreetcn, the U.S. Securities and Exchange Commission (SEC) subpoenaed multiple banks over Situational Awareness and asked them to provide details about Situational Awareness trading, while warning the banking industry to preserve information related to Situational Awareness.

According to Jin10, U.S. stocks opened mixed, with the Dow Jones Industrial Average up 0.13%, the S&P 500 down 0.19%, and the Nasdaq down 0.4%. Storage-related stocks fell, with SanDisk (SNDK.O) down about 6% and Micron Technology (MU.O) down about 3%. XPeng (XPEV.N) fell about 3% after its third-quarter revenue guidance came in below expectations.

A federal judge rejected the bankruptcy payout plan of defunct auto-parts maker First Brands, according to Bloomberg.
The judge said the proposal to raise money by suing a long list of insiders and business partners was not realistic.

Ed Al-Hussainy, portfolio manager at Columbia Threadneedle Investments, said the U.S. dollar has been relatively stable against developed-market currencies but has lagged emerging-market currencies, according to Bloomberg.
He pointed to carry trades supported by higher real yields in Brazil, Mexico, Colombia and South Africa, and said the dollar has underperformed despite low unemployment and steady U.S. growth, partly because the Federal Reserve has repriced rates more slowly than other central banks.

According to Jin10, Iran's central bank governor Abdolnaser Hemmati said the Iranian rial's decline was only temporary, even as the currency continued to weaken and had fallen nearly 10% over the past two weeks. In a speech broadcast on state television, he blamed U.S. political propaganda for damage to Iran's economy and said he believed the situation would improve and problems would be resolved.

A loan from Guggenheim Investments’ financing entity dropped to a new low on Monday, according to Bloomberg, even after the firm held a call last week with lenders to ease concerns about its second-quarter earnings.

Goldman Sachs Asset Management will pay as much as $2.25 billion to buy Neos Investments, expanding its reach in the actively managed exchange-traded fund market, according to Bloomberg.
Bryon Lake, Goldman Sachs Asset Management's chief transformation officer and global head of third-party wealth, and Troy Cates, co-founder of Neos Investments, discussed the deal on "ETF IQ."