① Nippon Steel and American Steel sent a letter to Biden about the merger plan; ② Boeing's 0.033 million workers went on strike; ③ Oracle rose more than 6% before the market, and the company raised its revenue guidelines for fiscal year 2026.
Financial Services News, September 13 (Editor Xia Junxiong) On Friday, US stock index futures had mixed ups and downs, with major European indices rising across the board.
(Source: Yingwei Financial)
Wall Street is looking ahead to the Fed's September 17-18 policy meeting, and investors are still weighing the extent to which the Fed will cut interest rates next week. Market pricing shows that traders now believe that policymakers are 45% likely to cut interest rates by 50 basis points. Currently, the federal funds rate target range is 5.25% - 5.5%.
The US stock market rose sharply this week. As of the close of trading on Thursday EST, the S&P 500 index had risen nearly 3.5% this week, the NASDAQ had risen 5.3%, and the Dow had risen 1.9%.
Dan Greenhaus, chief strategist at Solus Alternative Asset Management, said: “At the end of the day, the US consumer and economy continue to perform well, and profits continue to exceed expectations. So while we've experienced a major sell-off due to some AI companies, the rebound seems entirely justified because the issues don't seem to be growing.”
As of press release, Boeing's US stock fell nearly 3% before the market. According to news, Boeing's 0.033 million workers went on strike; Adobe fell nearly 9% before the market, and revenue guidance for the fourth fiscal quarter was lower than expected; and Oracle rose more than 6% before the market. Thanks to strong cloud revenue, the company raised its revenue guidance for the 2026 fiscal year.
Company news
[Nippon Steel and American Steel send a letter to Biden regarding the merger plan]
On September 13, a Nippon Steel spokesperson said that the two companies sent a letter to US President Joe Biden on the 8th after media reports that US President Joe Biden is preparing to block the 15 billion dollar takeover deal of Nippon Steel's US Steel Company. The spokesperson did not provide details on the contents of the letter, but said the CEOs and other executives of the two companies signed the letter.
[0.033 million workers strike at Boeing's two US plants]
In the middle of the night of September 13, local time, about 0.033 million workers at the assembly plants of the US Boeing Company in the Seattle and Portland regions voted to go on strike to express dissatisfaction with the recent labor agreement reached between Boeing and the “International Federation of Machinists and Space Workers (IAM)” representing Boeing workers. The strike will officially begin at 00:00 local time on September 14.
According to reports, the main models involved in these two assembly plants are the Boeing 737 MAX, Boeing 767, and Boeing 777. According to relevant trade union rules, at least two-thirds of the people must vote in favor of the strike before the strike action can begin. If it is less than this ratio, the new contract will take effect.
[Preliminary findings by UK regulators: Vodafone's merger deal with Three will affect market competition]
The UK Competition and Markets Authority (CMA) announced on September 13 that an in-depth investigation by the agency temporarily uncovered competition issues in Vodafone's merger plan with Three. The survey, led by an independent investigation team, initially concluded that the merger would increase prices for tens of millions of mobile users, or reduce users' access to services.
The CMA also initially determined that the merger will have a negative impact on mobile virtual network operators, which will make it harder for these operators to obtain competitive terms, thereby limiting their ability to provide the best deals to retail customers. As a result, the CMA temporarily determined that the merger would lead to a sharp decline in competition in the UK retail and wholesale mobile markets.
[Toyota Motor, Sumitomo Mitsui, etc. reportedly invested 0.41 billion US dollars in the Japan Hydrogen Energy Industry Fund]
On September 13, it was announced that a fund to promote the hydrogen energy industry, operated by a consortium composed of Japanese domestic companies, will be launched within the year. The first phase of financing has now been completed, raising 0.41 billion US dollars (60 billion yen) from 8 companies including Toyota Motor Corporation and Sumitomo Mitsui. The fund has around 450 companies participating and plans to make the first investment within this year to establish a hydrogen supply chain.
[Faraday will raise Jia Yueting's salary by more than 50% in the future]
According to documents submitted by Faraday to the US Securities and Exchange Commission on September 10, local time, the company will raise the salaries of CEO Matthias Aydt and founder Jia Yueting. CEO Aydt's annual basic salary will be adjusted from 0.4 million US dollars to 0.7 million US dollars, and founder Jia Yueting's annual basic salary will be adjusted from 0.45 million US dollars to 0.68 million US dollars.
[Bundesbank Governor comments on Yushin's acquisition of Commerzbank shares]
Bundesbank Governor Nagel said on September 13, local time, regarding Italy's acquisition of Commerzbank shares by Yushin Bank, that strong banks are needed to ensure that companies obtain the necessary financing. “In a banking merger, whatever the outcome, it all comes down to complementarity of business models and whether we'll end up with a competitive bank.” He said, “It is clear that Germany needs strong banks to finance companies to meet the challenges of the future. This is the crux of this case.”
Notable events during the US stock market (Beijing time)
September 13
22:00 The initial value of the US inflation rate forecast for the first year of September, the preliminary value of the US consumer confidence index for the University of Michigan in September