Morning wrap (04.09.2025)

According to reports, Chinese regulators are considering new measures to reduce market speculation, including easing restrictions on short selling and introducing new trading options.

Following this news, Chinese indices pulled back and are currently down between 1.20–1.60%.

Goldman expects nonfarm payrolls in August to rise by +60k, below expectations with downside risk due to seasonal distortions.

The bank also forecasts the unemployment rate to increase to 4.3%, while wages should grow by +0.3% m/m due to calendar effects. The data would support a Fed rate cut in September.

Trump expressed confidence that a peace deal between Russia and Ukraine will be reached, claiming that talks with Putin and Zelensky are ongoing.

Tesla announced that its Robotaxi rideshare service is now available to everyday customers, after previously being limited to investors and influencers.

Household consumption in Australia rose 5.1% y/y in July, the fastest pace since late 2023. This confirms strong Q2 consumption data from earlier this week. The strength of the data reduces the likelihood of an RBA rate cut on September 29–30.

Japan’s chief trade negotiator, Akazawa, said he will visit the U.S. after resolving administrative issues. He will continue to push for tariff adjustments to reflect agreed terms.

Morgan Stanley stated that the recent antitrust ruling does not undermine Google’s dominance.

The crypto market is speculating that MicroStrategy (MSTR) could be included in the S&P 500 index this Friday. With a market capitalization of around $98bn and holdings of 636,505 BTC, the company meets all criteria.