Foreign investors returned to Indian equities in August, with net FPI inflows exceeding $3.2 billion, the strongest monthly inflow since September 2024, led by Consumer Services, Financials and Healthcare. HSBC estimates that if global funds move back to a neutral allocation, as much as $25 billion could flow into India. Supportive factors include Q1 GDP growth of 7.8%, better-than-expected corporate earnings and a stable rupee, which could help sustain foreign inflows.

The US added 162,000 jobs in August, beating market expectations and reinforcing the Federal Reserve’s view that the labor market remains stable. The stronger-than-expected data revived concerns that the Fed could raise interest rates later this month. President Donald Trump again publicly urged the central bank to cut borrowing costs.

Bitcoin fell below the $80,000 mark, down 3.5% on the day, as strong U.S. employment data reinforced expectations of a September rate hike by the Federal Reserve and pushed the dollar higher. The stronger dollar weighed on risk assets, dragging crypto-related stocks lower. Coinbase fell nearly 4%, while Strategy Inc. and Circle Internet Group each slipped about 2%. Fed Governor Christopher Waller suggested he could support keeping rates steady if inflation continues to cool down.

Nebius reported its Q2 results, with an adjusted EBITDA margin of 50% as unit economics improved. The company said higher GPU prices were successfully passed through into contracts, helping protect margins. Deferred and contracted revenue rose sharply, and the backlog reached $40 billion. Nebius also guided to at least 1GW of annual capacity additions through 2027.

Asian wheat importers have bought at least 500,000 tons from Argentina and Australia to replace delayed Black Sea cargoes. Australian Premium White wheat has traded around $315$330 per ton and Argentine wheat around $310$315 per ton, well above the $260 to $280 per ton seen for Black Sea cargoes. Benchmark Chicago wheat futures have risen about 35% since late June, while cash prices have climbed across competing exporters. Asian processors have booked about 2.0 million to 2.5 million tons of Black Sea wheat for July-September shipment, covering roughly 30% to 50% of import demand.

U.S. employers added 162,000 jobs in August, far above the 56,000 economists expected, while the unemployment rate held at 4.1%. Annual wage growth slowed to 3.1%, the weakest since June 2021. The stronger jobs report lifted expectations of a Federal Reserve rate increase in September, sending the dollar higher before it pared gains. Bitcoin fell 2.32% to $79,595.

Anthropic has pushed back plans for an initial public offering, with marketing now expected to start in midOctober at the earliest. Some investors believe the company could be valued at about $2 trillion. It is also seeking to finalise a $15 billion revolving credit facility and is forecasting 2028 revenue of about $190 billion to $200 billion, versus a $47 billion revenue run rate disclosed in May.

Vice President JD Vance said U.S. military escort operations helped prevent a global energy crisis during the war with Iran. The six-month conflict pushed the national average diesel price to a record $5.85 per gallon, disrupting global fuel supplies and driving up crude oil prices. The United States also approved potential arms sales to Saudi Arabia, including $5 billion in Joint Direct Attack Munitions and related equipment and a separate $750 million package for tank engines and associated support.