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U.S. index futures point to a higher open on Wednesday, as stocks appear ready to recover after a two-day pullback.

Alphabet (NASDAQ:GOOGL) could play a leading role in the early rebound, with its shares surging 6.9% in pre-market trading.

The jump follows a federal judge’s ruling that shields the Google parent from the most severe penalties in a landmark antitrust case.

U.S. District Judge Amit Mehta decided that Google will not be required to divest its Chrome browser or a contingent divestiture of the Android operating system.

“Plaintiffs overreached in seeking forced divestiture of these key assets, which Google did not use to effect any illegal restraints,” Mehta said.

Apple (NASDAQ:AAPL) shares also rose 3.7% in pre-market trading, as the ruling allows the tech giant to continue preloading Google Search on its iPhones.

Trading activity may remain subdued, however, as some investors may hold back ahead of key jobs data scheduled for later in the week.

After an early sell-off, stocks partially recovered during Tuesday’s session but ended firmly lower. The major averages extended the decline seen on Friday.

The Nasdaq fell 175.92 points, or 0.8%, to 21,279.63, though it had dropped as much as 1.5% in early trading. The S&P 500 slid 44.72 points, or 0.7%, to 6,415.54, while the Dow dropped 249.07 points, or 0.6%, to 42,295.81.

The initial sell-off was fueled by renewed trade uncertainty after the U.S. Court of Appeals for the Federal Circuit ruled that most of former President Donald Trump’s global tariffs are unconstitutional.

In a 7-4 decision, the court held that the power to impose tariffs rests exclusively with Congress under the Constitution.

Implementation of the ruling was delayed until October, allowing the Trump administration to appeal to the Supreme Court.

“All tariffs are still in effect! If these tariffs ever went away, it would [be] a total disaster for our country,” Trump wrote on Truth Social.

Treasury yields spiked in response to the ruling amid concerns the government may need to refund billions collected under Trump’s tariffs.

On the economic front, the Institute for Supply Management (ISM) reported a slight uptick in U.S. manufacturing activity for August, though the sector continues to contract.

The ISM manufacturing PMI rose to 48.7 from July’s nine-month low of 48.0, still below the 50 mark that separates growth from contraction. The increase was in line with economist expectations.

Steel stocks led the declines, pushing the NYSE Arca Steel Index down 1.7%, while commercial real estate also showed weakness, with the Dow Jones U.S. Real Estate Index losing 1.7%.

Additional pressure was visible in telecom, semiconductor, and banking stocks, whereas gold and biotechnology shares recorded strong gains.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Britain’s services sector recorded its strongest expansion in over a year last month, driven by rising demand and fading concerns about possible U.S. trade tariffs, according to survey data released Wednesday.

The S&P Global Purchasing Managers’ Index (PMI) for UK services rose to 54.2 in August, up from 51.8 in July, marking the highest level since April 2024.

The improvement in the index, which tracks activity across the services industry, was fueled by a sharp increase in new business.

Although businesses welcomed the easing of U.S. tariff risks, the report noted that many remain uneasy about potential domestic tax hikes.

On the PMI scale, a reading above 50 signals sector growth, while figures below that level point to contraction.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

London stocks pushed higher on Wednesday afternoon, with the FTSE 100 advancing and the pound recovering above $1.34, after briefly slipping below that level a day earlier. The move came as Chancellor Rachel Reeves set out the date for the government’s upcoming Budget.

By 1157 GMT, the FTSE 100 was up 0.6%, while sterling strengthened 0.2% against the dollar to trade above 1.34. European equities also gained ground, with Germany’s DAX up 0.7% and France’s CAC 40 rising 0.9%.

Reeves schedules November Budget

Chancellor Rachel Reeves announced that the Budget will be delivered on November 26, adding that the government’s focus will be on fixing an economy she says “isn’t working well enough for working people.”

In her remarks, Reeves acknowledged the pressures households face from the cost-of-living crisis, while stressing that fiscal discipline will remain a priority.

CMA examines Primary Health’s Assura deal

The Competition and Markets Authority (CMA) has opened a Phase 1 investigation into Primary Health Properties’ (LSE:PHP) proposed £1.8 billion acquisition of Assura PLC (LSE:AGR). Regulators will examine whether the merger could reduce competition in UK markets. The initial review will run from September 4 to October 29.

Bakkavor raises profit guidance after strong first half

Bakkavor Group PLC (LSE:BAKK) posted solid first-half 2025 results, with revenue from continuing operations in the UK and US inching up 0.9% to £1.08 billion, and like-for-like sales improving 1.2%.

Adjusted operating profit rose nearly 10% to £61.5 million, lifting margins by 50 basis points to 5.7%. Return on invested capital climbed to 11.2%, prompting management to raise its full-year profit outlook.

Ashtead lifted by cash flow upgrade

Shares in Ashtead Group PLC (LSE:AHT) gained after the equipment rental company posted first-quarter results in line with forecasts and upgraded its free cash flow expectations, citing favorable US tax adjustments.

Quarterly revenue increased 2% year-on-year to $2.8 billion, with rental income up 2.4%. Growth came from the US, where the General Tool unit rose 1% and Specialty jumped 5%, though the UK arm slipped 2%.

M&G under pressure after earnings miss

M&G Plc (LSE:MNG) saw its shares fall more than 2% after first-half adjusted operating profit came in at £378 million, about 5% below consensus estimates of £398.4 million. Still, assets under management and capital levels surpassed forecasts.

Hilton Food plunges on weaker profit

Stock in Hilton Food Group Plc (LSE:HFG) tumbled over 15% to 694 pence, after the company reported a drop in first-half profit despite stronger revenues.

For the 26 weeks ending June 29, pretax profit came in at £24.3 million ($32.5 million), down from £25.5 million the year before. Adjusted pretax profit was steady at £33.6 million.

Cairn Homes raises outlook despite softer earnings

Irish homebuilder Cairn Homes (LSE:CRN) lifted its full-year 2025 guidance, even as first-half profit declined, supported by demand from first-time buyers. The company’s order book grew to €1.54 billion.

Cairn now expects annual revenue of around €945 million and operating profit of €160–165 million, compared with prior guidance of more than 10% revenue growth and roughly €160 million in operating profit.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Bitcoin (COIN:BTCUSD) started Wednesday, September 3, 2025, trading above $110,000 after breaking through a downward trendline. At 8:30 a.m. Brasília time, BTC was priced at $111,486, up 1.4% over the past 24 hours. Over the same period, it traded as low as $108,538 and as high as $111,653.

The 1-hour chart shows the cryptocurrency reclaiming the key psychological support at $110,000 and now moving sideways. Immediate resistance is seen at $112,000, with the next projected target at $115,500 if that level is breached, an area with a strong concentration of orders.

The relative strength index (RSI) at 57 suggests room for further gains before entering overbought territory. However, trading volume shows signs of weakening, indicating that buyers will need more momentum to push decisively beyond the critical resistance.

If Bitcoin loses the $110,000 support, it could pull back toward $108,500, retesting the upper boundary of the broken channel.

From a technical standpoint, a daily close above the main trendline for the first time since August 13 reinforces the case for a reversal. Analysts note that the market may be nearing the end of its correction, showing signs of accumulation ahead of a potential new rally.

On the corporate front, MicroStrategy (NASDAQ:MSTR), led by Michael Saylor, expanded its holdings by 4,048 BTC at a cost of $449.3 million, with an average purchase price of $110,981. The company’s total stash now amounts to 636,505 BTC, valued at $46.95 billion.

On Tuesday, spot Bitcoin ETFs recorded net inflows of $332.7 million. Fidelity’s (AMEX:FBTC) fund led with $132.7 million in inflows, followed by BlackRock’s (NASDAQ:IBIT) with $72.8 million. Ethereum ETFs, meanwhile, posted net outflows of $135.3 million.

In line with Bitcoin’s narrative as “digital gold,” the price of the precious metal has surged past $3,500 to new records. Institutional investors are showing increased preference for BTC, also viewed as a safe-haven asset amid global macroeconomic uncertainty.

Year-to-date, crypto investment products have seen $35.5 billion in inflows, a 58% increase compared to 2024.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold surged to new highs on Wednesday, September 3, 2025, briefly surpassing the historic level of $3,546.99 per ounce before settling at $3,537.29 at 5:21 a.m. Brasília time.

U.S. December gold futures also rose 0.4%, reaching $3,604.90. The metal has gained more than a third this year, making it one of the top-performing assets of 2025, driven by a weaker dollar and strong demand for safe-haven assets.

Political pressure from U.S. President Donald Trump on the Federal Reserve has increased uncertainty. Trump attempted to influence the central bank’s composition, raising concerns about the Fed’s independence, while advocating for aggressive rate cuts, which has boosted gold’s appeal as a hedge.

The market now prices in a 92% probability of a 25-basis-point rate cut at the Fed meeting on September 17, according to CME FedWatch. Lower interest rates favor gold, which does not yield income but benefits in scenarios of a weaker dollar and increased global liquidity.

Other precious metals showed volatility. Silver fell 0.2% to $40.83 per ounce after hitting levels not seen since 2011. Platinum declined 0.8% to $1,391.80, while palladium dropped 0.4% to $1,138.78.

Gold’s strength was also supported by weakness in stock and bond markets, with investors seeking refuge in gold-backed ETFs. Rising demand is putting pressure on available supply in London, pushing up lease rates and reinforcing perceptions of a structural tightening in the physical market.

The upcoming U.S. employment report, scheduled for Friday, will be pivotal. If it confirms signs of labor market slowdown, the likelihood of rate cuts will increase, potentially keeping gold prices at historically high levels.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.S. dollar held largely steady on Wednesday, recovering some losses after a global sell-off in long-dated bonds weighed on other major currencies.

Heightened concerns over fiscal health in countries ranging from the U.S. to Japan contributed to a rise in longer-term bond yields, which generally move inversely to prices.

The increase in yields has begun to ease, with long-dated European bonds showing signs of stabilization, although yields in Germany and France remain near multi-year highs. Japanese government bonds also reached record levels.

By 04:52 ET (08:52 GMT), the U.S. dollar index, which measures the greenback against a basket of currencies, was largely unchanged at 98.36.

The pound was steady at $1.3392 after falling to a three-and-a-half-week low in the previous session, while the euro inched up 0.1% to $1.1656. The dollar also rose slightly against the yen to 148.65, despite strong August data showing above-average growth in both Japanese manufacturing and services. Earlier this week, the dollar reached its highest level against the yen since August 1.

Traders remain cautious in Asia as uncertainty persists over a legal challenge to U.S. President Donald Trump’s wide-ranging tariffs, which could force Washington to revisit recent trade agreements.

“Yesterday’s dollar rally lacked a clear catalyst beyond the selloff in global long-dated bonds,” analysts at ING said in a note to clients. “Still, we doubt this will provide sustainable support to the dollar ahead of key data releases and imminent Fed easing.”

Market participants are closely monitoring a series of economic reports this week, including the crucial U.S. nonfarm payrolls release for August on Friday. Alongside surveys of job openings and private sector hiring, these indicators will be among the last snapshots for Federal Reserve officials before their policy meeting on September 16-17.

Analysts note that Fed Chair Jerome Powell appears focused on supporting the labor market over inflation concerns, strengthening expectations that the central bank may cut interest rates at the upcoming meeting.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities rose on Wednesday, bouncing back from losses in the previous session as the sell-off in longer-dated regional bonds appeared to ease.

By 08:10 GMT, the pan-European Stoxx 600 was up 0.4%, Germany’s DAX gained 0.5%, and France’s CAC 40 added 0.7%.

On Tuesday, the Stoxx 600 had posted its largest single-day drop in over a month, dragged lower by concerns over Europe’s fiscal stability, which drove bond yields higher—yields that typically move inversely to prices. Yields on long-term French and German government debt, however, remained near multi-year highs.

“Globally, the long ends of yield curves remain under upward pressure amid a mix of fiscal concerns and worries about central bank independence,” analysts at ING said in a note to clients.

Investors also digested a batch of Eurozone economic data. The HCOB Eurozone Composite Purchasing Managers’ Index (PMI) for August, compiled by S&P Global, increased to 51.0 from 50.9 in July.

Although this marked a 12-month high and stayed above the 50-point threshold separating expansion from contraction, the reading indicated only modest growth, with gains in manufacturing offset by a weaker-than-expected services sector.

Germany, traditionally the region’s economic engine, saw growth cool, while France remained in contraction territory. Spain performed strongest among major economies, but growth there also eased.

In individual stocks, Adidas (BIT:1ADS) shares rose after brokerage Jefferies upgraded the athletic apparel maker to “buy” from “hold,” noting that the company now has a larger set of potential growth avenues.

Meanwhile, Swiss Life’s (TG:SLW) stock dipped after higher tax costs contributed to a decline in the insurer’s first-half net profit.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The eurozone economy continued to expand at a measured pace in August, with the HCOB Eurozone Composite Purchasing Managers’ Index (PMI) rising slightly to 51.0 from July’s 50.9, according to Wednesday’s report.

While the reading represents a 12-month high, it still points to only gradual growth across the region. The PMI, compiled by S&P Global, remains just above the 50.0 level that separates expansion from contraction.

The modest uptick in the overall index came despite a slowdown in the services sector, which was offset by stronger manufacturing output. Additionally, the survey highlighted the first rise in total new orders since May 2024, suggesting a cautiously optimistic outlook for economic activity across the 20-country euro area.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Coca-Cola European Partners PLC (LSE:CCEP) is expected to face minimal disruption from a proposed U.K. restriction on energy drink sales to those under 16, according to Jefferies analysts on Wednesday.

The U.K. government recently opened a 12-week consultation on banning high-caffeine energy drinks for minors, citing potential adverse effects on children’s health, sleep, and school performance.

Energy drinks account for roughly 10% of CCEP’s U.K. volumes and 16% of U.K. sales, which translates to just 2% of the company’s total volumes and 3% of overall sales. The firm’s core sparkling beverage portfolio—including Coca-Cola, Sprite, and Fanta—would remain unaffected by the proposed measures.

Many leading U.K. supermarkets, such as Tesco PLC (LON:TSCO), Asda, J Sainsbury PLC (LON:SBRY), and Morrisons, already voluntarily limit sales of energy drinks containing more than 150mg of caffeine per liter to customers under 16. The new regulations, if enacted, would mainly impact smaller retailers like corner shops.

Government figures indicate that approximately 100,000 children consume at least one high-caffeine energy drink daily, amounting to roughly 18 million liters per year—only around 2% of the 987 million liters energy drink market in 2024. This suggests the potential ban would have a negligible effect on overall market volumes.

Jefferies maintains a “Buy” rating on CCEP with a price target of €88.00, implying an 18% upside from the current price of €74.80. The firm describes CCEP as a “well-run, consistent compounder with high barriers to entry” capable of delivering double-digit returns even in a low-growth environment.

Currently, CCEP shares trade at 16.5 times estimated 2026 earnings, slightly below the 18 times multiple for the broader consumer staples sector.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures suggest a mixed start on Wall Street after equities retreated in the previous session. Alphabet avoids severe sanctions in a closely watched antitrust case, with a judge ruling that Google does not need to divest its popular Chrome browser. Meanwhile, the Federal Reserve is set to release a key economic snapshot, Salesforce will report earnings after the bell, and gold briefly reached a new record high.

Mixed Futures

On Wednesday, U.S. stock futures hovered near the flatline following declines on Wall Street earlier in the week, marking the start of a holiday-shortened trading period.

By 02:58 ET, Dow futures had fallen 122 points, or 0.3%, S&P 500 futures edged up 10 points, or 0.2%, and Nasdaq 100 futures climbed 78 points, or 0.3%. Investors returned from the Labor Day holiday facing renewed uncertainty over the path of sweeping U.S. tariffs.

Sentiment was dented by a late-week U.S. appeals court decision that deemed most of President Donald Trump’s import levies illegal. The ruling, which the Trump administration plans to appeal to the Supreme Court, raised questions over the administration’s ability to use tariffs as a tool in global economic policy.

While the major indices finished off session lows, the Cboe Volatility Index, a key gauge of market fear, ticked higher.

In individual stock movements, Kraft Heinz (NASDAQ:KHC) dropped 7% after announcing plans to split into two separate businesses. Conversely, PepsiCo (NASDAQ:PEP) gained 1.1% after activist investor Elliott Management disclosed a $4 billion stake in the company.

The Dow Jones Industrial Average fell 0.6%, the S&P 500 slipped 0.7%, and the Nasdaq Composite lost 0.8%, marking a relatively subdued start to September—a month historically challenging for U.S. stocks.

Alphabet Surges on Antitrust Ruling

Alphabet (NASDAQ:GOOGL) shares jumped over 5% in after-hours trading following a federal judge’s decision that Google will not be required to sell its Chrome browser as part of remedies in the Justice Department’s antitrust case.

Judge Amit Mehta’s ruling allows Google to avoid one of the harshest potential penalties after the court previously determined the company maintained an illegal search monopoly. While Google will be restricted from entering exclusive contracts for search, the company is spared from divesting major assets.

The decision also confirmed that Google does not have to sell its Android operating system, another key victory for the tech giant. Additionally, the judge ruled that Google is not required to stop paying Apple (NASDAQ:AAPL) and other companies to preload its products. Shares of Apple also rose in after-hours trading.

The judgment, lasting six years, does require Google to share some information with competitors as a remedy for its search monopoly. “This less severe outcome than what government prosecutors had sought appears to have relieved investors.”

Beige Book Release Ahead

The Federal Reserve will publish its latest “Beige Book” on Wednesday, offering one of the last economic snapshots before the September policy meeting.

July’s report had indicated that contacts across industries expected cost pressures to “remain elevated in the coming months,” which could heighten “the likelihood that consumer prices will start to rise more rapidly by late summer.” All 12 Fed districts cited the impact of Trump’s trade policies.

The Beige Book also highlighted concerns over a potential slowdown in business activity. Uncertainty around tariffs has prompted some firms to delay major hiring and layoff decisions. More clarity on the labor market is expected this week, including the Wednesday release of the job openings survey, along with private payrolls and weekly unemployment claims, ahead of Friday’s August employment report.

Earnings Spotlight: Salesforce and Retailers

Software company Salesforce is set to report after markets close. Analysts at Vital Knowledge noted: “[S]entiment has been cautious amid concerns about AI displacement risk, although the narrative has started to shift in the favor of enterprise software in the last couple of weeks thanks to some solid earnings reports from the industry.”

Dollar Tree is also scheduled to release results, with investors watching for updates on its turnaround. Peers such as Dollar General, Target, and Walmart have recently posted “decent sales,” according to Vital Knowledge. Other companies reporting include Hewlett Packard, Campbell’s, and Macy’s.

Gold Hits Fresh High

Gold prices steadied, briefly reaching an all-time peak as concerns over global fiscal health and U.S. tariffs kept investors in safe-haven mode. Spot gold traded slightly lower at $3,530.23 an ounce, while December futures edged up 0.1% to $3,596.30/oz. Earlier in the session, spot gold hit $3,547.09/oz.

The dollar’s rebound limited further gains, recapturing much of this week’s earlier losses amid a global selloff in government bonds. Precious and industrial metals remain on solid footing for the week.

Copper Supported by China Optimism

London copper futures temporarily rose above $10,000 a ton for the first time since March, driven by optimism that demand from China, the world’s top copper importer, may strengthen.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.