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Daily Market Brief | 10 September 2026

Oil breaks US$100, Wall Street retreats and bond yields rise, inflation is becoming the market’s biggest risk again Global markets are starting Thursday in a more defensive position.  Brent crude has broken above US$100 a barrel , U.S. Treasury yields are pushing higher, and Wall Street fell for a third straight session as investors reassess whether central banks may need to keep tightening rather than easing. For Malaysian investors, the key chain today is increasingly clear: Oil → inflation → interest rates → bond yields → USD/MYR → Bursa valuations. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,636.36, -0.48% 🇺🇸 Dow Jones 52,380.66, -0.77% 🇺🇸 Nasdaq 26,253.34, -0.64% 🇲🇾 FBM KLCI 1,714.34, virtually flat 💵 USD/MYR ~4.06 🇺🇸 U.S. 10Y Treasury ~4.84% 🇺🇸 U.S. 2Y Treasury ~4.42% 🥇 Gold ~US$4,396/oz 🛢️ Brent crude US$101.21/bbl 🛢️ WTI crude US$96.05/bbl ₿ Bitcoin ~US$79,300 🇯🇵 Nikkei ~64,760, -0.6% this morning Brent jumped about  3.4% Wednesda...
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Market Daily Report: Bursa Malaysia Ends Week On Softer Note Amid Regional Weakness

KUALA LUMPUR, Oct 31 (Bernama) -- Bursa Malaysia ended the week on a softer note, tracking the weaker performance of regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.05 points, or 0.31 per cent, to 1,609.15 from Thursday’s close of 1,614.20. The benchmark index opened 4.31 points lower at 1,609.89 and moved between 1,607.66 and 1,615.10 throughout the trading session. Market breadth was negative with 563 losers leading 470 gainers, while 510 counters were unchanged, 1,126 untraded, and 60 suspended. Turnover improved to 3.55 billion units worth RM2.68 billion compared with 3.46 billion units worth RM2.62 billion on Thursday. At the time of writing, Indonesia's IDX Composite Index slid 0.25 per cent to 8,163.88, Hong Kong’s Hang Seng Index sank 1.43 per cent to 25,906.65, China’s SSE Composite Index dipped 0.81 per cent to 3,954.79, and Singapore’s Straits Times Index was 0.20 per cent lower at 4,428.62. ...
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EU Seeks Assurances from US Over AT1 Bond Wipeouts in Future Bank Failures

Europe’s top bank resolution official is seeking clarity from the United States to ensure that  US regulators will not obstruct write-downs of Additional Tier 1 (AT1) bonds  during future bank failures, a crucial mechanism used to safeguard financial stability. Background: Lessons from Credit Suisse Dominique Laboureix, chair of the  Single Resolution Board (SRB) , said in an interview that the issue has been raised at the  Financial Stability Board (FSB) , where a working group is “seriously” addressing potential cross-border obstacles. The move follows lingering uncertainty since the  2023 collapse of Credit Suisse , where  AT1 bondholders were fully wiped out  to facilitate the bank’s rescue. With the  Trump administration’s reorientation of US regulatory priorities , European officials are now seeking renewed assurance that Washington will continue to uphold global resolution standards. “You cannot achieve 100% comfort all around the globe wit...
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S&P 500 and Nasdaq Slide as AI Spending Concerns Hit Meta and Microsoft

 US stocks retreated on Thursday as  Meta Platforms  and  Microsoft Corp  sank on concerns about surging  AI infrastructure spending , cooling investor optimism after a streak of record highs and raising new questions about whether the  Federal Reserve  will maintain its dovish tilt. Tech Pullback Leads Market Decline The  S&P 500  fell  0.5% to 6,855.82 , and the  Nasdaq Composite  dropped  1.14% to 23,685.59 , while the  Dow Jones Industrial Average  edged higher by  0.4% to 47,822.04 . Meta  plunged  11.8% , marking its steepest drop in three years after projecting “notably larger”  capital expenditures  next year to fund AI development. Microsoft  declined  3.5%  after reporting a record  US$35 billion  in quarterly capex and warning that spending will continue to rise. “We’re having a reset given the high expectations for the Fed and tech earnings we...
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US Mortgage Rates Fall for Fourth Week, Near 6% — But Homebuyers Remain Cautious

US mortgage rates fell for a fourth straight week, edging closer to the  6% mark , though economic uncertainty continues to keep potential homebuyers on the sidelines. Rates at One-Year Low The average  30-year fixed mortgage rate  dropped to  6.17% , down slightly from  6.19%  a week earlier — the  lowest level since October 2024 , according to data from  Freddie Mac . The decline followed the  Federal Reserve’s quarter-point rate cut  on Wednesday, though  Chair Jerome Powell warned investors not to expect additional easing this year. Muted Demand Despite Lower Borrowing Costs Typically, falling rates paired with a strong stock market signal rising housing demand. But in this cycle,  buyer sentiment remains weak . Recent data showed  pending home sales were flat  in September despite  growing inventory levels , underscoring lingering caution among consumers worried about  tariffs, job security,  and t...
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US Futures Rebound on Strong Amazon and Apple Results After Tech Selloff

US stock futures rose in early Asian trading as upbeat earnings from  Amazon.com  and  Apple Inc.  helped lift sentiment following a volatile session that saw sharp declines in major technology names. Tech Earnings Drive Overnight Turnaround Amazon  surged up to  15% in after-hours trading  after reporting its  fastest AWS growth in nearly three years , while  Apple  advanced following a  better-than-expected quarterly revenue  and a  bullish holiday outlook . Futures tied to the  S&P 500  and  Nasdaq 100  gained, partly offsetting Thursday’s broad selloff driven by concerns over heavy  AI spending  and the  Federal Reserve’s cautious tone  on rate cuts. Meta Platforms  tumbled 11% after unveiling a  US$30 billion bond issuance  and rising AI-related costs, dragging the  Nasdaq 100 down 1.5%  and the  S&P 500 down 1%  earlier in the day. “Th...
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Trump Clarifies: Nvidia’s Blackwell Chips Not Part of Talks With Xi

US President  Donald Trump  said he did not discuss authorising exports of  Nvidia Corp’s Blackwell AI chips  to China during his meeting with President  Xi Jinping , cooling investor hopes that the powerful processors might be cleared for sale to the world’s largest semiconductor market. Blackwell Chips Off the Table Speaking aboard Air Force One, Trump said he and Xi discussed  Nvidia’s access to China in general , but confirmed that  Blackwell accelerators were not part of the conversation . “We did discuss chips,” Trump said. “They are going to be talking to Nvidia and others about taking chips. But we’re not talking about the Blackwell.” The clarification followed Trump’s earlier remarks suggesting he might revisit US export restrictions, which briefly fuelled market optimism and helped Nvidia shares rally — pushing its market value to  US$5 trillion  for the first time. Policy Stance: No Change in AI Chip Controls US Trade Representativ...
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Oil Slips Toward Third Monthly Loss as Strong Dollar and Rising Supply Pressure Prices

Oil prices extended losses on Friday, heading for their  third consecutive monthly decline , as a  stronger US dollar  and  ample global supply  outweighed concerns about sanctions on Russian crude. Market Snapshot Brent crude:  US$64.67/bbl (–0.5%) WTI crude:  US$60.22/bbl (–0.6%) Monthly performance:  Both benchmarks down about  3% in October Analysts said the  Federal Reserve’s cautious tone  on further rate cuts strengthened the dollar, dampening investor appetite for commodities priced in the greenback. “A stronger USD weighed on investor appetite across the commodities complex,” ANZ analysts noted. Supply Outpaces Demand Oil markets remain under pressure from  rising production by major producers , including  OPEC+  members and the  United States , with supply growth expected to  outpace demand  this year. OPEC+  is leaning toward a  modest output boost in December , according to sources...
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Gold Edges Higher on Fed Cut and Bargain Buying, Set for Third Monthly Gain

Gold prices rose on Friday, extending their monthly winning streak as  bargain hunters  stepped in and the  US Federal Reserve’s rate cut  boosted demand for non-yielding assets, even as a stronger dollar capped gains. Market Snapshot Spot gold:  US$4,034/oz (+0.3%) US gold futures (Dec):  US$3,955/oz (–1.1%) Monthly gain:  +4.5% (third straight) The rally puts gold on track for its  best three-month stretch this year , supported by lower yields and sustained safe-haven demand amid geopolitical and trade uncertainties. Fed Policy and Rate Outlook The Fed cut its  benchmark rate by 25 basis points  this week to a range of  3.75%–4.00% , marking its  second cut of 2025 . While the move supported bullion,  Fed Chair Jerome Powell’s cautious remarks  tempered expectations of another reduction in December. According to the  CME FedWatch Tool , traders now see a  74.8% chance  of a further 25 bps cut in Decem...
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Fed’s Bowman to Slash Bank Supervision Unit by 30% Amid Broad Efficiency Push

US Federal Reserve Vice Chair for Supervision Michelle Bowman  is planning a major restructuring of the Fed’s  supervision and regulation division , which oversees the nation’s largest banks, according to an internal email obtained by Reuters. 30% Staff Reduction Planned The plan calls for a  30% reduction in staff  within the supervisory unit, achieved through  attrition, retirements, and voluntary separation incentives , the email said. The reorganisation is aimed at streamlining operations and aligning with a  broader government downsizing initiative  under President  Donald Trump’s administration . Part of a Broader Fed Workforce Cut Earlier this year, the Fed said it intends to  shrink its total workforce by around 10%  over the next few years from its current headcount of roughly  24,000 employees . Chair  Jerome Powell  has directed leadership to identify “incremental” ways to improve efficiency and reduce costs acr...
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Tokyo Inflation Accelerates, Strengthening Case for BOJ Rate Hike

Inflation in Tokyo rose faster than expected in October, bolstering expectations that the  Bank of Japan (BOJ)  may continue its gradual path toward  monetary policy normalization , while giving the  yen  a modest lift. Inflation Surprises to the Upside Core consumer prices, excluding fresh food, rose  2.8% year-on-year  in October, beating the  2.6%  median estimate and accelerating from  2.5%  in September, data from Japan’s  Ministry of Internal Affairs and Communications  showed. Core CPI (ex-fresh food):  +2.8% YoY Core-core CPI (ex-fresh food & energy):  +2.8% YoY Headline inflation:  +2.8% YoY The uptick was mainly driven by  higher water charges  after the end of city subsidies. Meanwhile, prices for  energy  and  processed food  edged lower. The  yen strengthened to 153.82 per dollar  from 154.17 before the release, as traders priced in a slightly higher p...
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Intel Reportedly in Talks to Acquire AI Chip Startup SambaNova

Intel Corp (NASDAQ: INTC)  is in  preliminary discussions  to acquire  SambaNova Systems Inc , a Silicon Valley AI chip startup that has been seeking buyers, according to  Bloomberg . Early-Stage Negotiations Sources familiar with the matter said  Intel and SambaNova  are discussing potential terms, though talks remain  in the early stages  and  no deal has been finalized . The valuation would likely come in  below the US$5 billion  SambaNova achieved in its 2021 fundraising round. The company has been working with bankers to explore acquisition options, and other bidders could still emerge. Both  Intel  and  SambaNova  declined to comment. Strategic Fit for Intel For Intel, acquiring SambaNova would align with its push to  strengthen AI computing capabilities  and compete more effectively with  Nvidia Corp , the market leader in AI processors. Intel’s CEO  Lip-Bu Tan  has deep ties ...
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BYD Shares Slide as Profit Slump Highlights Mounting EV Market Pressure

Shares of  BYD Co Ltd (HKG:1211)  fell sharply on Friday after China’s top electric vehicle (EV) maker reported a  33% drop in third-quarter net profit  and weaker-than-expected revenue, underscoring the challenges even the industry leader faces in a highly competitive market. Earnings Miss Triggers Stock Selloff BYD’s Hong Kong-listed shares  tumbled as much as 6.4%  in early trading following the results released late Thursday. Net income:  7.82 billion yuan (US$1.1 billion), down  33% YoY Revenue:  194.98 billion yuan, down  3% YoY  and missing analyst forecasts of 216 billion yuan Gross margin:  17.6%, down from 21.9% a year ago but up from 16.3% in Q2 “Neutral to slightly negative” reactions are expected, according to  Morgan Stanley , which estimated vehicle-unit profit at  6,100 yuan , below its 6,500 yuan projection. Losing Momentum in China’s Price War Once the undisputed market leader, BYD is now  losin...
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Malaysia Morning Wrap | Tech Earnings Diverge, Fed Pause Cools Risk Appetite

Asian trading opened cautiously after  mixed U.S. tech earnings  and a  Federal Reserve signal of a potential rate pause , while local equities found support from selective buying in blue chips. Overnight on Wall Street Global markets took a breather as  tech results sent mixed signals . Meta Platforms (–11.3%)  plunged after outlining higher AI spending and a one-time tax hit, despite beating profit forecasts. Microsoft (–2.9%)  slipped on investor concerns over rising AI capital expenditure. In contrast,  Amazon (+13% after hours)  surged after reporting its  fastest AWS growth in nearly three years , while  Apple (+2% after hours)  offered a  strong holiday quarter outlook . Major indices retreated: Nasdaq Composite:  23,581.14 (–1.57%) S&P 500:  6,822.34 (–0.99%) Dow Jones:  47,522.12 (–0.23%) A brief  U.S.–China trade thaw  provided some relief, with a  10% U.S. tariff cut  and  ...
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Why the Fed May Hit Pause in December — When Rate Cuts Stop Working

Federal Reserve Chair  Jerome Powell  surprised markets this week by suggesting that another rate cut in December is  “far from a done deal.”  His remarks — following the Fed’s  25 basis-point reduction  — signal growing doubts within the central bank about whether more easing would help the U.S. economy at all. Powell’s Message: Rate Cuts Aren’t a Cure-All During his post-meeting press conference, Powell outlined several reasons for a potential pause: Divergent views  among policymakers Limited data visibility  due to the ongoing government shutdown Persistent above-target inflation Uncertainty  about how quickly the labor market is cooling Perhaps most striking, however, was Powell’s admission that  rate cuts may no longer be the right tool  to support the economy. The labor market’s recent weakness, he explained, stems  more from shrinking labor supply  — tighter immigration, early retirements, and declining participati...
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Meta Issues $30 Billion Bond, Biggest U.S. Corporate Deal of 2025

Meta Platforms (NASDAQ: META) has launched a  $30 billion public bond offering , the  largest U.S. investment-grade corporate issuance this year , according to Bloomberg. The move comes just days after the company reported  disappointing quarterly earnings  and signaled plans to ramp up spending on artificial intelligence. Strong Investor Demand Sources said Meta received an  estimated $125 billion in orders , setting a  record level of investor demand  for a U.S. corporate bond deal. The bonds will be issued in  six tranches , reflecting broad interest across maturities. This strong appetite underscores investors’ confidence in Meta’s  long-term financial stability  and  AI-focused growth strategy , despite short-term earnings weakness. AI Spending Push In its latest update, Meta reaffirmed plans to  “aggressively” boost AI-related investment , focusing on building next-generation infrastructure and integrating AI tools across...
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Asian Markets Rally as Amazon, Apple Earnings Lift Global Sentiment

Asian equities edged closer to record highs on Friday, buoyed by  strong earnings from Amazon and Apple , which reignited risk appetite and sent  US equity futures higher  after a brief pause in the global stock rally. Global Stocks Extend Gains The  MSCI Asia-Pacific Index  rose  0.6%  at the open, led by gains in  Japan’s Nikkei 225 , while  S&P 500 futures climbed 0.6%  and  Nasdaq 100 futures added 1.2%  following overnight weakness in Wall Street. The rebound came as  Apple beat revenue expectations  and issued a  bullish holiday forecast , while  Amazon shares surged 13% in extended trading  after posting its  fastest cloud growth in nearly three years . Market sentiment also improved on  signs of easing US-China trade tensions , even as the  Federal Reserve  signaled that a  December rate cut is not guaranteed . Tech Optimism vs. AI Cost Concerns Mega-cap tech stocks ...
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