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Phil Schiller has stepped down from their positions managing the App Store and Events at Apple (AAPL), according to Bloomberg TV. Mkt cap ~$4.5T
Market reaction AAPL Lower at 15m See the validated event-time path, 1m/15m returns, and provenance. Create free accountTesla lists Model 3 in Hong Kong at a price of HKD205,000 according to its Hong Kong mini app. Mkt cap ~$1.3T
Russian President Putin stated that assaults on three oil refineries have been successfully defended against; they also mentioned that Russia needs to retaliate appropriately.
Global stocks and bonds rise as yen appreciates nearly 2% in two days ahead of US data and Fed remarks.
BOJ: Prefers 25bps rate increase with flexible approach on future hikes
According to ET, Micron (MU) intends to nearly double its HBM production capacity, aiming for approximately 100,000 wafers each month by the end of the year. Mkt cap ~$972B
Equity read-through Probabilistic High confidence AMAT
Supplies DRAM and advanced-packaging equipment and jointly develops next-generation HBM technology with Micron.
On Wednesday, six commodity vessels transited the Strait of Hormuz, below the recent 10-day average of approximately 13 ships.
US President Trump Via Truth Social: Apple Maps has just announced that it has changed the name of Lake Ontario to Lake America, so now that very important change of names, between Google Maps and Apple Maps, is complete, ratified, and binding. Thank you for your attention to this matter! President DONALD J. TRUMP Mkt cap ~$4.5T
European gasoline refining margins exceed $62 a barrel in Wednesday trading, approaching the 2022 record high, amid tightening fuel supplies from conflicts in the Middle East and Ukraine.
Kalshi plans to request US regulatory approval for offering perpetual WTI crude oil contracts.
NY Fed's John Williams states that current interest rates are appropriately set.
FED Williams: Inflation outlook does not appear to drive yields
Iraq increased its oil exports in August, with September shipments expected to rise due to profits and Iranian approval for tanker passage through the Strait of Hormuz.
Market reaction CL · Oct26 Higher at 15m NQ · Sep26 Lower at 15m YM · Sep26 Lower at 15m See the validated event-time path, 1m/15m returns, and provenance. Create free accountUS MBA Mortgage Applications — Act 0.8% | Prev -1.0%
Market reaction ZN · Sep26 Higher at 15m Gold (spot) Higher at 15m EURUSD Higher at 15m See the validated event-time path, 1m/15m returns, and provenance. Create free accountJohn Rice has been appointed as the board chair of American International Group (AIG), with the change taking effect on September 15th. Mkt cap ~$41B
The Swiss Federal Council has appointed Machler to serve as the vice-chair of the SNB bank council.
According to the FT, Ford (F) is set to collaborate with General Dynamics Land Systems (GD) to enhance military sales of its Ranger trucks throughout NATO nations while vying for a UK Army vehicle contract valued at approximately GBP 2bln. Mkt cap ~$55B
Global bond selloff intensifies as oil prices approach $95 per barrel amid U.S.-Iran tensions.
New Zealand's central bank raises rates by 25 bps and indicates a gradual tightening approach, leading to a decline in the kiwi.
BOJ Takata: BoJ requires an approach different from the usual semiannual rate hike schedule
Bank of Japan board member Takata states that 2026 will signify a regime change requiring a different approach as global rate hikes emerge due to economic growth and AI-related investments.
India pre-market: Tata Motors clears prior Iveco approvals; NMDC August production reaches 4.07mln tonnes
DESK READ
Tata Motors carries the clearest regulatory information: the Iveco transaction has cleared the prior sector approvals, leaving offer-document review as the next disclosed step. NMDC offers the strongest operating read, combining fresh production and sales volumes with provisional cumulative data. Welspun's Jordan plan remains commercially unquantified, while Wipro's ABB renewal requires a freshness check because Wipro disclosed a multi-year ABB renewal in April.
IN FOCUS
- Tata Motors (TMPV) — All prior regulatory approvals needed for Tata Motors' proposed Iveco Group acquisition are now secured, advancing the transaction toward completion.
- NMDC (NMDC) — August production climbed to 4.07mln tonnes from 3.37mln tonnes Y/Y. Sales increased to 3.58mln tonnes from 3.39mln tonnes Y/Y.
- Welspun Corp (WELCORP) — Welspun Corp and Perma-Pipe International Holdings signed an MOU covering pipe manufacturing and advanced coating facilities in Jordan. The agreement includes the National Water Carrier Project's developers and Jordan's government.
- Hero MotoCorp (HMCL) — Domestic August dispatches reached 542.3k units, up 4.5% Y/Y. Stronger scooter sales offset lower motorcycle volumes.
- Wipro (WPRO) — Wipro extended its long-standing ABB engagement by renewing the Digital Workplace Services contract.
REGIONAL THEMES
- August physical-volume updates provide direct operating data at both Hero MotoCorp and NMDC.