� The US extended its rally and posted another record, boosted by megacap tech.
� Most encouraged by headlines on AAPL�s new iPhone 17 sales and the AI theme getting another boost with news that NVDA to invest as much as $100bln in OpenAI to support building of new data centers and other AI infrastructure.
� Muted on the macro and earnings front.
� Volumes light. Breadth poor. Momentum > Growth > Value.
� Tech, Utilities and Industrials outperform, while Comm Services, Staples and Discretionary lagged.
� AsiaPac is mixed with Mainland China and Hong Kong trading lower as they braced for its potentially most damaging typhoon since 2018.
� Japan is closed. The greenback remains boringly steady � ZAR c17.35.
� The rupee fell to a new record low.
� Treasuries won�t trade in Asian hours.
� Chinese bond futures fell sharply after PBOC drained liquidity for the first time in 2 weeks.
� Commodities are trading with a weaker bias. Gold briefly topped $3,750 before drifting back.
� The rand is trading at R17.36/$ this morning, after closing at R17.35/$ yesterday.
Key events and data:
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� 09h00: SA SARB leading indicator (July)
� 10h00: Eurozone HCOB manufacturing, services and composite PMI (September)
� 10h30: UK S&P Global manufacturing, services and composite PMI (September)
� 14h30: US current account balance (Q2:25)
� 15h45: US S&P Global manufacturing, services and composite PMI (September)
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