Tesla is set to launch its two-seater robotaxi at an event in Austin on Thursday<\/a> evening. The Cybercab design was first revealed almost two years ago<\/a>. Investors are hopeful that Tesla’s robotaxis can eat into Waymo’s early lead.<\/p>\n However, with few details of the event known, analysts also warn that if Tesla doesn’t reveal too much about its plans for the Cybercab it could lead to a muted or negative stock reaction on Friday after the event.<\/p>\n Stock Chart IconStock chart icon Tesla 3-month. <\/p>\n \u2014 Davis Giangiulio and Lora Kolodny<\/p>\n Robinhood jumps 11%, heads for its best day since August<\/p>\n Robinhood<\/a> shares jumped about 11% Thursday, putting the stock on pace for its best day since August 21, as Wall Street highlights prediction markets as a growing opportunity for the brokerage firm.<\/p>\n Bedell believes company financial KPI contracts will offer the strongest potential for the next wave of industry growth, adding that contracts tied to company financial metrics could eventually become the largest event-contract category.<\/p>\n “We continue to believe company KPIs will be the largest event contract asset class,” Deutsche Bank research analyst, Brian Bedell said in a note. “For the US, we believe company KPI contract volume could surpass 1 trillion in 2028 from virtually nothing today, exceeding sports volumes, even in any positive SCOTUS ruling in favor of national regulation.”<\/p>\n Stock Chart IconStock chart icon Robinhood stock price<\/p>\n The analyst also noted that Cboe<\/a> could have a first-mover advantage in company KPI contracts if it wins SEC approval, with e-brokers likely to be the initial customer base.<\/p>\n “We see CBOE as best positioned for this theme, followed by HOOD,” Bedell said, adding that Robinhood could benefit from both customer trading and an eventual launch through Rothera.<\/p>\n \u2014 Deena Zaidi<\/p>\n ISM services index rose more than expected in August<\/p>\n Activity in the U.S. services sector improved in August, highlighted by gains in employment, orders and inventories, the Institute for Supply Management reported Thursday.<\/p>\n The ISM services index<\/a> posted a 55.4 reading, up 1.3 points from July and better than the Dow Jones consensus for 54.1 The index measures the percentage of businesses showing growth.<\/p>\n The employment index rose 0.4 points to 47.8, though still in contraction. The prices gauge also posted a 2.3 point increase to 72.6, and its 12-month average was the highest since April 2023.<\/p>\n New orders, inventories, backlogs and new export orders also posted solid gains.<\/p>\n \u2014 Jeff Cox<\/p>\n Campbell\u2019s shares slide after weak outlook, dividend cut<\/p>\n Cans of Campbell’s Soup are displayed on a shelf at Scotty’s Market on December 08, 2021 in San Rafael, California.<\/p>\n Justin Sullivan | Getty Images<\/p>\n Campbell<\/a>‘s shares fell more than 8% Thursday after the soup and snack company reported a weaker than expected annual outlook. <\/p>\n “Fourth quarter and fiscal 2026 results reflect top-line softness and inflation-driven margin headwinds,” said Mick Beekhuizen, Campbell’s President and CEO in a press release<\/a>. “Our performance is not where it needs to be, and we are taking decisive action to improve it.<\/p>\n Campbell also reset its quarterly dividend to 25 cents from 39 cents to reduce debt on the company’s balance sheet. For fiscal 2027, the company sees its net sales down 2% to 4%, with adjusted earnings projected between $1.65 and $1.8 a share. <\/p>\n Weakness was concentrated in snacks, where volumes fell 6%, while meals and beverages volumes rose 3%. The company is targeting $500 million in cost cutting by 2030. <\/p>\n “The steps we are taking are designed to improve growth, expand margins, reduce leverage, and position Campbell’s for sustainable long-term value creation,” Beekhuizen said.<\/p>\n Stock Chart IconStock chart icon Campbell’s price chart<\/p>\n Stocks open higher<\/p>\n The three major averages rose on Thursday morning.<\/p>\n The S&P 500 gained 0.5% just after the opening bell, while the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average added 332 points or 0.6%.<\/p>\n \u2014 Sean Conlon<\/p>\n Dollar hits lowest level in more than a week<\/p>\n The U.S. Dollar Index<\/a> crossed below 99 on Thursday, hitting levels it last traded on Aug. 26 where it had a low of 98.898. <\/p>\n The greenback also hit a session low against the yen<\/a> of 155.50, which is the lowest level it has traded since Aug. 3. Its almost 2% decline against the yen is the biggest loss the dollar has experienced since July 30, when it fell 2.37% against the Japanese currency. <\/p>\n Stock Chart IconStock chart icon ICE U.S. Dollar Index 5-day. <\/p>\n \u2014 Gina Francolla and Davis Giangiulio<\/p>\n Trade deficit jumps on computer imports; jobless claims edge higher<\/p>\n Shipping containers are stacked on the One Reassurance container ship at the Port of Los Angeles on Aug. 19, 2026 in Los Angeles, California.<\/p>\n Mario Tama | Getty Images<\/p>\n Initial jobless claims were little changed last week while the U.S. trade deficit surged on rising imports of technology-related goods as the artificial intelligence buildout continues to gain steam, according to economic data released Thursday.<\/p>\n The trade shortfall surged by 24.4% in July, hitting $88.6 billion, which was below the Dow Jones consensus estimate for $90 billion but the highest since March 2025, according to the Commerce Department. Capital goods imports jumped $14.4 billion, including $6.9 billion in computers, $6.6 billion in accessories and $1.2 billion in semiconductors. The deficit with Mexico jumped $7.2 billion to $27.5 billion while the shortfall with Canada plunged by $3.7 billion to $3.2 billion.<\/p>\n In the labor market, first-time filings for unemployment benefits totaled a seasonally adjusted 206,000 for the week ending Aug. 29, up 2,000 from the prior week and slightly higher than the 205,000 forecast. Continuing claims, which run a week behind, rose by 8,000 to 1.78 million.<\/p>\n \u2014 Jeff Cox<\/p>\n Fed Governor Waller says he ‘would be inclined to support’ holding interest rates steady at September meeting<\/p>\n Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City, U.S. November 12, 2024. <\/p>\n Brendan McDermid | Reuters<\/p>\n Federal Reserve Governor Christopher Waller said Thursday he is leaning toward keeping interest rates steady at the central bank’s September meeting provided there are no surprises from upcoming inflation data.<\/p>\n In remarks that seem to contrast with statements last week from Chairman Kevin Warsh, Waller expressed confidence in the current inflation trends, saying that tariff impacts likely have been muted and higher energy prices haven’t had a substantial impact in other parts of the economy.<\/p>\n While he conceded that inflation is “meaningfully above” the Fed’s 2% target, he noted that recent trends “suggest we are finally seeing some signs of disinflation.”<\/p>\n “If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting,” Waller said in remarks for a Reuters interview. Read more<\/a>.<\/p>\n \u2014 Jeff Cox<\/p>\n Nvidia to buy open-source AI platform Hugging Face at nearly $13 billion<\/p>\n Jensen Huang, chief executive officer of Nvidia Corp., during the Nvidia GTC conference in San Jose, California, US, on Wednesday, March 18, 2026. <\/p>\n David Paul Morris | Bloomberg | Getty Images<\/p>\n Nvidia<\/a> agrees<\/a> to buy open-source AI platform Hugging Face at nearly $13 billion, making it the chipmaker’s second-biggest purchase to date.\u00a0<\/p>\n “Together, we will scale Hugging Face’s platform, strengthen its infrastructure and expand access to AI for developers and institutions worldwide,” \u00a0Nvidia CEO Jensen Huang wrote in a blog post on Thursday.<\/p>\n The agreement makes it Nvidia’s second biggest acquisition. In December, the company purchased assets from chipmaker Groq for $20 billion.\u00a0<\/p>\n Hugging Face approached<\/a> \u00a0Huang\u00a0in the summer about the deal, according to Hugging Face CEO Cl\u00e9ment Delangue, who spoke to CNBC’s “Squawk Box.”<\/p>\n “During the summer, I think we realized that Hugging Face and open source AI in general was at the turning point, and that it needed more, more resources, more scale, more visibility,” Delangue said.<\/p>\n \u2014 Ananya Chetia<\/p>\n Broadcom, Campbell’s Co and Ultragenyx Pharmaceutical among the stocks making moves before the bell<\/p>\n Check out the companies making the biggest moves premarket:<\/p>\n Broadcom<\/a>\u00a0\u2014 The chipmaker lost 2.5% as investors responded negatively to the\u00a0company’s revenue forecast<\/a>\u00a0for the fourth quarter, which came in at $34.8 billion compared to a $35.03 billion estimate. Fourth quarter non-GAAP operating margin projections came in at 66%, below the 66.5% estimate. Broadcom reported revenue of $29.59 billion for the third quarter and adjusted earnings of $3.32 per share.Campbell’s Company<\/a>\u00a0\u2013 The food and beverage company fell almost 7% after it reported earnings guidance for its fiscal year 2027 that came in below expectations. Campbell’s expects earnings of between $1.65 and $1.80 per share in fiscal 2027, compared to a FactSet consensus for $1.83 per share. It also forecasted for revenue growth to contract at a wider rate than expected in the fiscal year.Ultragenyx Pharmaceutical<\/a>\u00a0\u2013 Shares plunged more than 46% after the company reported that Phase 3 trial results for its drug to treat Angelman syndrome, a rare genetic neurodevelopmental disorder, did not achieve its primary endpoint. The company said it was disappointed in the result and will evaluate the program to develop the drug, as well as implement significant cost reductions.<\/p>\n Read here<\/a> for the full list.<\/p>\n \u2014 Darla Mercado and Davis Giangiulio<\/p>\n Japan on ‘heightened alert’ over currency moves as yen pops<\/p>\n Japanese yen banknotes arranged in Kyoto, Japan, on Tuesday, Jan. 27, 2026. <\/p>\n Kentaro Takahashi | Bloomberg | Getty Images<\/p>\n Japanese authorities are “neither satisfied nor reassured” by recent market moves as the yen pops to a one-month high against the U.S. dollar<\/a>, Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs, said Thursday. <\/p>\n \u00a0“We remain on a state of heightened alert,” the top foreign exchange official said, according to a Reuters report.<\/p>\n The sharp move in the yen comes with traders on high alert for any signs of a currency intervention, though traders say that increased expectations for Bank of Japan rate hikes may explain the strengthening in the Japanese currency. Read more here<\/a>.<\/p>\n Stock Chart IconStock chart icon U.S. dollar\/Japanese yen exchange rate.<\/p>\n Treasury yields move lower as traders await fresh data after bond sell-off<\/p>\n Treasury yields moved lower across the curve on Thursday, as traders look ahead to key services and jobs data for more insights into the domestic economic picture following a sharp sell-off in global bond markets.<\/p>\n The\u00a010-year Treasury note<\/a>\u00a0yield, the main benchmark for mortgages, auto loans and credit card debt, fell more than 2 basis points to 4.7680%. The longer-dated\u00a030-year Treasury<\/a>\u00a0yield, which is typically sensitive to geopolitical events, dropped 2 basis points to 5.2433%.<\/p>\n The shorter\u00a02-year Treasury note<\/a>\u00a0yield, which tends to react in line with short-term Federal Reserve interest rate decisions, was more than 2 basis points lower at 4.3609%.<\/p>\n Treasury yields fall after Fed’s Waller signals support for no rate hike<\/a>Dutch central bank moves gold bars out of U.S. and Canada, citing \u2018crisis preparedness\u2019<\/p>\n Gold bars are stored in a safe deposit room in Munich, Jan. 28, 2026.<\/p>\n Angelika Warmuth | Reuters<\/p>\n The Dutch central bank (DNB) has transferred approximately 86 tons of gold out of the U.S. and Canada to the U.K., seeking to shore up its contingency planning in view of “increasing geopolitical unrest.”<\/p>\n Just over one-quarter of the central bank’s gold reserves held in New York and Ottawa had been shifted to London between March and August, DNB\u00a0said<\/a>\u00a0Wednesday.<\/p>\n The transferred gold is now stored with the Bank of England because gold stored there must meet international trade standards and is recognized as “the world’s most easily tradable gold,” DNB said, adding that the move strengthens its “crisis preparedness.”<\/p>\n Dutch central bank moves gold bars out of U.S. and Canada, citing \u2018crisis preparedness\u2019<\/a>Europe markets open mixed<\/p>\n European markets struggled for direction at Thursday’s open, with Germany’s DAX index up 0.1% as the U.K.’s FTSE 100 and France’s CAC 40 slipped below the flatline. <\/p>\n Telecoms stocks gained 0.64% as household goods fell 1.04%.<\/p>\n \u2014 Jenni Reid<\/p>\n Asia-Pacific markets close mixed <\/p>\n Asia-Pacific markets close mixed on Thursday. Japan’s\u00a0Nikkei 225<\/a> slid 0.17% to end the trading day at 64,214.48, while the Topix added 0.5% to 4,102.04.<\/p>\n South Korea’s Kopsi<\/a> rose 0.26% to 6,579.58, but the small-cap Kosdaq declined 1.71% to 790.21.<\/p>\n Australia’s S&P\/ASX 200<\/a> was up 0.46% at 9,020.1. Mainland China’s CSI 300 closed 0.1% higher at 4,552.58, while Hong Kong’s Hang Seng lost 0.48% as of its last hour of trade.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Yen jumps against U.S. dollar<\/p>\n Japanese 10,000-yen banknotes arranged in Kyoto, Japan, on Tuesday, Jan. 27, 2026. <\/p>\n Kentaro Takahashi | Bloomberg | Getty Images<\/p>\n The yen surged by around 1% against the U.S. dollar Thursday morning, brushing a one-month high of 156.34 per dollar. <\/p>\n Traders are watching for any signs of intervention to support the Japanese currency<\/a> following the\u00a0joint yen-buying intervention\u00a0between the U.S. and Japan at the end of July. <\/p>\n U.S. Treasury Secretary Scott Bessent told CNBC on Monday<\/a>: “It’s my belief that the Japanese government and that the BOJ will do the things that will lead to a stronger yen.” <\/p>\n Stock Chart IconStock chart icon U.S. dollar\/Japanese yen exchange rate.<\/p>\n Dollar dips as global bond yields ease<\/p>\n The U.S. dollar was 0.22% lower<\/a> against a basket of major currencies early Thursday, as the recent sell-off of government debt eased<\/a>. <\/p>\n Treasury yields were broadly lower at 1:55 a.m. ET while the yield on the Japanese 10-year<\/a>, which crossed 3% this week for the first time in three decades, dropped 5 basis points to 2.964%. <\/p>\n Germany’s 10-year bund<\/a> yield, the euro area benchmark, was slightly lower at 3.369%. Yields on U.K. gilts with 2-year<\/a>, 10-year<\/a> and 30-year<\/a> durations were all down by around 3 basis points.<\/p>\n \u2014 Jenni Reid<\/p>\n Treasury yields ease after 10-year hits highest level since November 2023<\/p>\n The\u00a010-year Treasury<\/a>\u00a0note yield is down almost 2 basis points at 4.776% on Thursday after notching a fresh multiyear high on Wednesday as inflation and debt concerns pressured global government borrowing costs.<\/p>\n The yield on the 10-year Treasury note \u2014 the main benchmark for mortgages, auto loans and credit card debt \u2014 reached 4.818%, its highest level since November 2023, on Wednesday.<\/p>\n The\u00a030-year Treasury<\/a>\u00a0yield was over one basis point lower at 5.25%, while the yield on the\u00a02-year<\/a>\u00a0note was also down around one basis point at 4.317%.<\/p>\n One basis point equals 0.01%, and yields and prices move inversely.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Oil little changed as traders assess Iran-U.S. military strikes <\/p>\n An F-35B Lighting II, attached to Marine Fighter Attack Squadron (VMFA) 121, takes off from the flight deck of America-class amphibious assault ship USS Tripoli (LHA 7), May 11, 2026<\/p>\n US CENTCOM<\/p>\n Oil was little changed Thursday, as traders assessed the latest hostilities in the Middle East. <\/p>\n Futures for international benchmark Brent crude<\/a> for November delivery was flat at $95.60 a barrel. U.S.\u00a0West Texas Intermediate\u00a0futures<\/a>\u00a0for October rose 0.15% at $91.15 per barrel.<\/p>\n Kuwait’s army on Thursday said it was confronting hostile missile and drone attacks from Iran, a day after President Donald Trump said that renewed hostilities between the U.S. and Iran would not last “too long.”<\/p>\n “Any new escalations or a deterioration in shipping conditions in either the Straits of Hormuz or Bab al-Mandeb would tighten the physical market and push prices up,” said Hani\u00a0Abuagla\u00a0senior market analyst at XTB MENA, adding that energy flows through the Strait of Hormuz continued to see disruptions.<\/p>\n \u2014 Justina Lee <\/p>\n Japanese yen strengthens with focus on Bank of Japan’s policy move<\/p>\n The Japanese yen<\/a> continued to strengthen Thursday after appreciating 0.9% to 158.7 the day before.<\/p>\n Treasury Secretary Scott Bessent had called on the Bank of Japan<\/a> to use sound monetary policy to anchor inflation expectations and prevent excessive volatility in the yen during his meeting with Bank of Japan Governor Kazuo Ueda\u00a0on the sidelines of the G20 finance ministers’ summit.<\/p>\n The currency was last trading at 158.55 against the greenback.<\/p>\n Stock Chart IconStock chart icon Japan yen performance year-to-date<\/p>\n “The key question is whether they will signal that they share the view that Abenomics has run its course, the yen is undervalued, and the BOJ needs to accelerate the pace of rate hikes,” Nomura said in a note on Wednesday.<\/p>\n The bank estimates Japan’s neutral interest rate is approaching 3%, although it said such a level would be difficult to justify based on domestic conditions alone and partly reflects rising U.S. rates. <\/p>\n The BOJ will hold its monetary policy meeting on Sept 17-18.<\/p>\n \u2014 Lee Ying Shan<\/p>\n South Korea’s Kospi rises, Japan’s Nikkei 225 opens flat <\/p>\n Asia-Pacific markets opened mixed Thursday. <\/p>\n South Korea’s Kospi<\/a> rose 0.86%, while the small-cap Kosdaq fell 0.19%. <\/p>\n Japan’s\u00a0Nikkei 225<\/a> was little changed, but the Topix was 0.65% higher.<\/p>\n Australia’s S&P\/ASX 200<\/a> inched up 0.12%.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Asia-Pacific markets set for subdued open as global bond rout, Mideast crisis dent sentiment<\/p>\n Asia-Pacific markets were set for a subdued open Thursday, as a global bond sell-off and the escalation in the Middle-East conflict weighs on sentiment.<\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0was poised to rise, with the Chicago and Osaka futures contracts last at 64,560 and 64,480 respectively, compared with the index’s previous close of 64,325.64.<\/p>\n Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0futures were at 25,367, slightly higher than the index’s last close of 25,311.21.<\/p>\n Futures for Australia’s S&P\/ASX 200<\/a> last traded at 8,979, compared with the index’s previous close of 8,978.4.<\/p>\n Government bonds sold off globally on Wednesday, extending a rout that has driven borrowing costs to multi-decade highs.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Broadcom pares back losses after 5% after-hours dip<\/p>\n Stanislav Kogiku | Lightrocket | Getty Images<\/p>\n Shares of chipmaker Broadcom<\/a> climbed back into break-even territory after dipping by 5% immediately after reporting earnings on Wednesday.<\/p>\n Shares were down just 0.22% as of 6:12PM ET. The company’s revenue forecast<\/a>\u00a0for the fourth quarter came in at $34.8 billion versus a $35.03 billion estimate. Fourth quarter non-GAAP operating margin projections were placed at 66%, below the 66.5% estimate from Wall Street.<\/p>\n \u2014 Tobias Burns<\/p>\n Stocks making the biggest moves in after-hours trading<\/p>\n A slate of companies issued their latest earnings reports after the bell, and their stocks posted notable moves:<\/p>\n Snowflake<\/a>\u00a0\u2013 Shares surged more than 20% after the company’s\u00a0second-quarter results<\/a>\u00a0topped analyst expectations. For the quarter, Snowflake posted adjusted earnings of 62 cents per share on revenue of $1.55 billion.Hewlett Packard Enterprise<\/a>\u00a0\u2013 The enterprise technology company slipped 4%. HPE is calling for earnings growth of 16% to 20% for the fiscal year ending October 2027, while the FactSet consensus sought a 18.7% increase.\u00a0Petco<\/a>\u00a0\u2013 The pet products retailer jumped about 9%. Adjusted EBITDA margin in the second quarter came in at 8.2% versus the StreetAccount consensus estimate of 7.4%. Excluding a tariff benefit, the metric came in at 7.7%, which would still beat analysts’ expectations.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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