$NVDA - JPMORGAN ON NVIDIA: SUPPLY TIGHT, RUBIN ON TRACK
JPMorgan reiterated an Overweight and $215 PT on NVDA after meeting with IR. Demand still exceeds supply, keeping lead times “in quarters, not months,” even as Blackwell Ultra ramps. NVIDIA confirmed its Vera Rubin platform remains on schedule for 2H26, with all six chips already taped out at TSMC.
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CNBC INTERNATIONAL STAFF TO BE NOTIFIED OF CUTS: NYT REPORTER
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*US JULY TRADE DEFICIT $78.3B; EST. -$77.9B
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*US FINAL 2Q LABOR COST RISES 1% Q/Q; EST. +1.2%
*US FINAL 2Q LABOR PRODUCTIVITY RISES 3.3% Q/Q; EST. +2.7%
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$TSLA - TESLA SHARES UP 1.1% PREMARKET; DATA SHOWS CO'S UK CAR SALES RISE IN AUGUST
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$AAPL - MOFFETTNATHANSON UPGRADES TO NEUTRAL FROM SELL - PT $225
Craig Moffett raised Apple (AAPL) to Neutral from Sell with a $225 PT, saying most of the risks that once justified a bearish stance have eased. Concerns over tariffs, China market share, and Google payout threats have diminished, while regulatory pressures in Europe are less severe. Although Apple still trades at over 30x forward earnings with modest growth and AI challenges, the analyst no longer sees valuation alone as enough to support a Sell.
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U.S. 10-YEAR TREASURY YIELD FELL TO 4.18%, LOWEST LEVEL SINCE MAY 1
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$AMD: SEAPORT DOWNGRADES TO NEUTRAL FROM BUY - NO PT
Seaport Research cut AMD to Neutral from Buy, citing supply chain checks showing slower AI accelerator growth. The firm lowered estimates and warned the slowdown could make meeting high expectations difficult this year.
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US CHALLENGER JOB CUTS (Y/Y) AUG ACTUAL: 13.3% VS 139.8% PREVIOUS
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CHINA, PAKISTAN TO DEEPEN DEFENCE COOPERATION - XINHUA
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KIM TOLD PUTIN DPRK WOULD CONTINUE TO SUPPORT RUSSIA -KCNA
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*HARVARD $2 BILLION FUNDING FREEZE BY US WAS ILLEGAL, JUDGE SAYS
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JD VANCE WHEN ASKED ABOUT DEPLOYMENT OF NATIONAL GUARD TO CHICAGO: "THERE ARE NO IMMEDIATE PLANS"
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*APPLE, GOOGLE REACH DEAL TO EVALUATE GEMINI MODEL FOR NEW SIRI
*APPLE PLANS TO ROLL OUT AI SEARCH FEATURE IN SIRI NEXT YEAR
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RUBIO: PRESIDENT WILL WAGE WAR ON NARCO TERRORIST ORGANIZATIONS
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🚨 BOFA SEES FOMC SPLIT AT SEPTEMBER MEETING
BofA expects sharp divisions within the Fed in September. Doves like Waller, Bowman, Daly, and likely Miran could push for deeper cuts, while hawks including Hammack, Bostic, Musalem, and Schmid stress inflation risks. Even with a 25bp cut, dissents in both directions are possible.
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CITIGROUP HANDS BLACKROCK $80 BLN OF ASSETS IN WEALTH DEAL
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*US JOBLESS CLAIMS 237K IN AUG. 30 WEEK; EST. 230K
*US CONTINUING CLAIMS 1.94M IN AUG. 23 WEEK; EST. 1.962M
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🚨 TRUMP, ZELENSKIY, EUROPEAN LEADERS BEGIN JOINT CALL: ELYSEE
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$GM - GM TO CUT OUTPUT AT EV PLANT IN SPRING HILL, SOURCES SAY
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*US ADP AUG. PRIVATE EMPLOYMENT RISES 54K; EST. +65K
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$AAPL - APPLE TO RAISE IPHONE PRICES FOR FIRST TIME IN 7 YEARS: MS
Morgan Stanley expects Apple to modestly increase iPhone 17 prices at its Sept. 9 event, the first hike since 2017. The iPhone 17 Air will debut with a thinner design, C1 modem, and $100 premium over the iPhone 16 Plus, while the Pro will start at $1,099 for 256GB as lower-storage options are dropped. A new 1TB Air will launch at $1,399. MS sees the changes boosting average selling prices 5% in FY26, well above consensus, and does not expect demand to be impacted. The event will also unveil new Apple Watches and AirPods, though no major Apple Intelligence updates are anticipated.
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NORTH KOREA'S KIM HAS LEFT GREAT HALL OF THE PEOPLE IN BEIJING-CCTV
XI, KIM TALKS HAVE ENDED-CCTV
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U.S. JOB CUTS TOTAL 85,979 IN AUGUST, HIGHEST FOR THAT MONTH SINCE 2020 - CHALLENGER
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$AAPL - APPLE'S APP STORE REVENUE UP 11% Y/Y IN AUGUST, SAYS UBS
UBS says Apple’s App Store revenue grew 11% y/y in August, down from 13% in July on tougher comps. With comps at 12% for the rest of 2025, upside for Services revenue is limited. UBS maintains a Neutral rating and $220 price target.
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ERIC ADAMS DENIES HE’S BEEN OFFERED JOB IN TRUMP ADMINISTRATION
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US JUDGE RULES TRUMP ADMINISTRATION UNLAWFULLY CANCELED HARVARD UNIVERSITY'S RESEARCH FUNDING GRANTS
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APPLE PLANS AI-POWERED WEB SEARCH TOOL FOR SIRI TO RIVAL OPENAI
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RUBIO: INTERDICTION OF DRUG BOATS DOES NOT WORK, BLOWING THEM UP WILL STOP THEM
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KASHKARI: IS NOT FORECASTING A RECESSION
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