Analyst Highlights
- S&P 500 slipped 0.6% and Nasdaq 1.2% as tech stocks dragged ahead of September seasonality, even as consumer spending rose 0.3% in July and Fed cut bets stayed intact.
- CBOE VIX spiked 6.4%, signaling rising hedging demand as traders brace for volatility from macro data and the Fed’s September meeting.
- Crypto sector split: Bitcoin –3.5%, Ethereum +1.2%, Solana +8.5% — with ETFs pulling flows from corporate treasury BTC models.
- US corporate leverage is climbing again, with a $1T M&A wave looming as rate-cut bets lower borrowing costs and dealmaking confidence rises.
- Geopolitical risks intensify: Yemen’s Houthi PM killed in Israeli strike, Europe pushing secondary sanctions on Russia backers, and Xi leading an SCO summit to project a China-led order.
- Big Tech AI race accelerates: Alibaba’s AI revenue jumped triple digits, Huawei rebounded with 37.1B yuan H1 profit, and Kazakhstan plans to channel oil wealth into AI infrastructure.
IPO’s in the week
- Curanex Pharmaceuticals Inc (CURX, Nasdaq Capital) – Raised $15M on Aug 26, 2025, pricing 3.75M shares at $4.00. The Nevada-incorporated biotech, led by CEO Jun Liu, develops botanical drugs for inflammatory and immune diseases. Its lead candidate, Phyto-N, targets ulcerative colitis with IND submission planned for 1H 2026, alongside potential trials for dermatitis, COVID-19, gout, diabetes, and NAFLD.
- CSLM Digital Asset Acquisition Corp III, Ltd (KOYNU, Nasdaq Global) – Raised $200M on Aug 27, 2025, pricing 20M shares at $10.00. The Cayman Islands–based SPAC, led by CEO Charles T. Cassel III, seeks mergers in digital assets, Web3, AI, DeFi, and frontier market “new economy” sectors, leveraging ties to Consilium Investment Management.
- M3-Brigade Acquisition VI Corp. (MBVIU, Nasdaq Global) – Raised $300M on Aug 27, 2025, pricing 30M shares at $10.00. The Cayman Islands–based SPAC, led by CEO Matthew Perkal, is backed by veterans of multiple prior M3-Brigade SPACs, with experience in billion-dollar deals in renewable energy and natural resources, and now seeks a new business combination opportunity.
- GrowHub Ltd (TGHL, Nasdaq Capital) – Raised $15M on Aug 28, 2025, pricing 3.75M shares at $4.00. The Singapore-based company, led by CEO Choon Yew Lester Chan, operates a blockchain-powered platform for supply chain traceability, anti-counterfeit solutions, and carbon management, with plans to expand through its new GrowHub Innovation Centre.
- TryHard Holdings Ltd (THH, Nasdaq Capital) – Raised $6.1M on Aug 28, 2025, pricing 1.53M shares at $4.00. The Osaka-based lifestyle entertainment company, led by CEO Rakuyo Otsuki, creates immersive experiences through event curation, venue management, and themed restaurants, blending art, music, and technology to redefine Japan’s entertainment landscape.
- Picard Medical, Inc. (PMI, NYSE American) – Raised $17M on Aug 29, 2025, pricing 4.25M shares at $4.00. Through its SynCardia unit, the Tucson-based medtech firm, led by CEO Patrick Schnegelsberg, develops the only FDA- and Health Canada–approved total artificial heart and is advancing its next-generation fully implantable “Emperor” TAH for long-term heart failure patients.
Markets Weekly
- S&P 500 closed at 6,460.26, down 0.64% for the week.
- Russell 1000 (IWB) closed at 354.71, down 0.57% for the week.
- Russell 2000 closed at 2,366.42, down 0.50% for the week.
- Russell 3000 closed at 3,680.46, down 0.63% for the week.
- CBOE (VIX) closed at 15.36, up 6.44% for the week.
- Dow Jones closed at 45,544.88, down 0.20% for the week.
- NASDAQ closed at 21,455.55, down 1.15% for the week.
- Bitcoin (BTC-USD) closed at $108,655.52, down ~3.5% for the week.
- Ethereum (ETH-USD) closed at $4,424.22, up ~1.2% for the week.
- Solana (SOL-USD) closed at $203.24, up ~8.5% for the week.
- XRP (XRP-USD) closed at $2.7894, down ~2.5% for the week.
- Gold closed at $3,473.70, up 2.96% for the week.
- Silver closed at $40.20, up 3.94% for the week.
- WTI Crude closed at $64.01, down 1.22% for the week.
- Brent Crude closed at $66.86, down 2.82% for the week.
- Wall Street faces 14 pivotal sessions with jobs, CPI, and the Fed’s Sept. 17 decision as the S&P 500 enters its weakest month, still up 9.8% YTD at record highs.
- Crypto markets eye spillover risk from jobs, CPI, and the Fed’s Sept. 17 decision, with BTC steady near $110K but vulnerable to volatility shocks from equities.
- Trump-backed WLFI token starts trading Sept. 1 with a low float, early sell limits, and hopes it pumps into the top-20 coins.
- US payrolls are expected to rise just 75K in August with unemployment at 4.3%, setting a softer backdrop ahead of the Fed’s Sept. 17 meeting.
- Tech stocks dragged the S&P 500 down 0.6% and Nasdaq 1.2% ahead of September’s seasonal weakness, while consumer spending rose and Fed cut bets stayed intact.
- US consumer spending rose 0.3% in July, the strongest in four months, showing resilient demand even as core PCE inflation picked up to 2.9%.
- Risk appetite is spilling across equities, credit, crypto, and FX as investors bet on Fed cuts and resilient consumers, with cross-asset momentum near bullish highs.
- China’s $23T household savings pile is starting to flow into equities, with JPMorgan seeing $350B rotation that could lift CSI 300 more than 20% by 2026.
- Spot Bitcoin ETFs are drawing flows away from Strategy’s corporate model, offering cleaner BTC exposure without governance, leverage, or dilution risks.
- The Commerce Department published GDP data hashes on nine public blockchains — a Trump-backed move seen as a government seal of approval for crypto tech.
- Japan’s retail bond sales hit ¥1.5T as households chase yields up to 3.3%, far above government debt.
- US companies are set to boost debt to fund a $1T M&A wave, with leverage ratios near 2021 highs as Fed rate-cut bets lower borrowing costs.
Politics Weekly
- Trump’s tariffs lift EM stocks on a weaker dollar but nearly half of MSCI EM firms miss earnings, raising risks the rally fades.
- Yemen’s Houthi PM Ahmed Ghalib Al-Rahwi was killed in an Israeli strike; Houthis vowed further escalation.
- A US appeals court ruled Trump’s global tariffs illegal but left them in place for now, creating uncertainty for trade partners Mexico, China, and Canada.
- Xi told Modi deeper India–China ties require trust, expanded cooperation, and joint multilateral efforts, as leaders also discussed border issues, trade, and resuming flights.
- A US judge blocked Trump’s rapid deportation policy, citing risks of wrongful expulsions.
- Xi will host an SCO summit with Russia, India, Pakistan, and Iran, aiming to bolster China’s vision for global governance against US influence.
- German Chancellor Friedrich Merz said a Putin–Zelenskiy meeting is unlikely despite earlier US claims, as Russia escalated strikes on Kyiv that killed 21.
- Merz and Macron push for secondary sanctions on firms aiding Russia’s war, pressing Trump to align as Europe seeks tougher measures.
- German Chancellor Merz said the Ukraine war shows no clear end despite hopes for a ceasefire, urging US–German cooperation on a long diplomatic path.
- Xi hosts the Shanghai Cooperation Organization summit in Tianjin with Putin, Modi, Iran, and Pakistan in attendance, aiming to present a China-led alternative to the US order.
Technology Advancements in the week
- Google to invest $9B in Virginia data centers, boosting AI and cloud capacity amid record Big Tech spending.
- US revoked waivers letting Samsung and SK Hynix use US tech in China, giving them 120 days to seek new licenses.
- Ant Group’s profit plunged 60% as heavy AI and overseas expansion spending weighed, even as its global arm readies for a potential IPO.
- Alibaba shares jumped as AI revenue surged triple-digits and cloud sales rose 26%, offsetting fierce e-commerce price wars.
- Huawei swung to a 37.1B yuan H1 profit as AI chip demand and smartphone sales rebounded, with revenue up 3.9% to 427B yuan.
- Kazakhstan plans to channel oil wealth into AI infrastructure via its sovereign fund, joining the global rush into AI investments.
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