Walter Bloomberg

KALSHI ASKS CFTC TO ALLOW MARGIN TRADING ON ITS PLATFORM, LETTING USERS BUY WITH BORROWED FUNDS- CNBC
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TRUMP-XI SUMMIT EXPECTED TO BE LIGHT ON MAJOR DEALS

Xi Jinping is unlikely to bring a delegation of Chinese CEOs to Washington this week, according to the WSJ, lowering expectations for major business agreements.

Trump and Xi are expected to focus on extending the trade truce, AI and rare earths, with incremental tariff progress possible.

Xi’s visit will be his first to Washington in 11 years.
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PUTIN HOLDS PHONE CALL WITH SAUDI MBS - RIA
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U.S. HOME PRICES POST FASTEST GROWTH IN A YEAR

U.S. home prices rose 3.7% year-over-year in August, the strongest annual increase in a year, according to Redfin.

Prices increased just 0.25% month-over-month, continuing a gradual slowdown in monthly growth.

San Francisco led with a 12% annual gain, while Dallas recorded the largest decline at 1.4%. Redfin says slower monthly growth is giving buyers more room to negotiate.
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MILEI’S U.S. TRADE DEAL HITS CONGRESSIONAL ROADBLOCK

Argentina has reportedly told the Trump administration it lacks the votes to ratify its bilateral trade agreement with the U.S.

Milei wants to renegotiate terms following the U.S. Supreme Court’s tariff ruling, but Washington is rejecting renegotiation over concerns it could set a precedent.

With Argentina’s legislative year ending in November, the deal now faces a tight political timetable.
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*MILEI'S US TRADE DEAL UNDER THREAT ON DEMAND FOR BETTER TERMS
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RUBIO: INTEND TO LIVE UP TO COMMITMENTS WITH SAUDI ARABIA -FOX NEWS INTERVIEW
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CHINA PROBES DEEPSEEK, MOONSHOT OVER POTENTIAL DATA LEAKS TO ANTHROPIC - THE INFORMATION

ANTHROPIC ALLEGED DEEPSEEK, MOONSHOT ROUTED SENSITIVE DATA TO CLAUDE- THE INFORMATION
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CATHIE WOOD SHRUGS OFF FED RATE-HIKE FEARS

ARK Invest CEO Cathie Wood says higher interest rates won’t derail the technology boom, arguing rapid innovation will drive stronger economic growth.

Wood expects the current tech revolution to reduce inflation while pushing global growth above its historical 2–3% range.

Her comments come as semiconductor stocks cool after helping push the Nasdaq to a record high.
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TRUMP: U.S. HAS “MORE MUNITIONS THAN WE COULD EVER USE”

President Trump rejected claims that the U.S. is running low on munitions, calling them false.

Trump said the country has more munitions than it could possibly use and is currently expanding stockpiles at levels he says have never been seen before.
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HORMUZ TALKS RUMORS SEND OIL LOWER

Oil prices fell after reports suggested Iran could reopen the Strait of Hormuz within seven days if U.S. military pressure eases and the blockade on Iranian ports is lifted.

However, Iranian sources have disputed the reports, calling them inaccurate.

The move follows another roughly 3% oil drop during diplomatic activity on Monday, when Brent approached $100 a barrel.
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DIMON WARNS AGAINST PUNISHING INDIA OVER RUSSIAN OIL

JPMorgan CEO Jamie Dimon says the U.S. should avoid punishing India and global oil markets while pressuring Russia over Ukraine.

Dimon warned that Indian refiners cannot easily replace Russian crude, as facilities are designed for specific oil grades and alternative supplies are limited.

India has relied on Russia for more than half of its crude imports in some recent months.
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RUBIO: OPEN TO IRAN MEETING AT UN -NBC NEWS INTERVIEW
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YARDENI: DON’T EXPECT A GRAND BARGAIN FROM TRUMP-XI

Yardeni Research expects no major breakthrough when Trump and Xi meet Thursday, but sees scope for an extension of the trade truce and selective commercial deals.

Potential progress includes soybeans, Boeing jets, rare-earth access, fentanyl cooperation and AI guardrails.

The toughest issues — particularly Taiwan and AI dominance — are expected to remain unresolved.
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U.S. DIESEL HITS FRESH RECORD AT $6.53

U.S. diesel prices climbed to a record $6.527 per gallon, up sharply from $3.688 a year ago.

Supply is tightening as Russian diesel exports remain restricted and disruptions continue to crude flows through the Strait of Hormuz.

Commerzbank warns diesel markets could face a difficult winter if Middle East disruptions persist and Russia extends its export restrictions.
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U.S. DIESEL PRICES HIT FRESH RECORD AT $6.527 A GALLON
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RADIATION MONITORING STATION AT ZAPORIZHZHIA NUCLEAR POWER PLANT DAMAGED IN UKRAINIAN DRONE ATTACK - RUSSIAN-INSTALLED OFFICIALS
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XI TO PRESS TRUMP ON TAIWAN ARMS SALES

Xi Jinping is expected to urge President Trump to halt U.S. arms sales to Taiwan when the leaders meet in Washington this week, Reuters reports.

Beijing is also seeking a stop to deliveries of weapons already ordered.

A separate $14 billion U.S. arms package for Taiwan remains on hold, while Trump has previously described it as a negotiating chip.
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🇺🇸 WHAT TO WATCH TODAY — U.S. MARKETS

🔸8:15 AM ET — 🇺🇸 ADP Weekly Employment Estimate
🔸10:00 AM ET — 🇺🇸 Richmond Fed Manufacturing & Services
🔸10:00 AM ET — 🚗 AutoZone Earnings Call
🔸10:05 AM ET — 🏦 Fed’s John Williams
🔸10:20 AM ET — 🏦 Fed Vice Chair Philip Jefferson
🔸1:00 PM ET — 🇺🇸 $69B 2-Year Treasury Auction
🔸1:00 PM ET — 🏦 Fed’s Tom Barkin + Q&A
🔸4:30 PM ET — 🛢️ API Oil Inventories

🔥 2-YEAR TREASURY AUCTION — KEY EVENT
The $69B auction is today’s biggest test for the front end of the Treasury curve.
With the 2Y highly sensitive to Fed expectations, demand could quickly spill into the dollar and equities.

Strong auction → 2Y yield ↓ → growth stocks supported
Weak auction → 2Y yield ↑ → stocks pressured

🏦 FED SPEAKERS
Williams and Jefferson speak shortly after 10 AM ET, followed by Barkin at 1 PM.
Markets will watch for signals on inflation, the September rate hike and the path for further tightening.

🇺🇸 RICHMOND FED
September manufacturing and services data provide another read on U.S. economic momentum.

🛢️ OIL
API inventories arrive after the close, ahead of Wednesday’s official EIA report.

🚗 EARNINGS
AutoZone is today’s most notable U.S. earnings report.
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TRUMP’S UNGA SCHEDULE TODAY

9:55 AM ET — UN remarks
10:40 AM — Denmark & Greenland signing
11:45 AM — UK bilateral
12:30 PM — Japan bilateral
1:15 PM — Ukraine bilateral
2:15 PM — Shield of the Americas
2:45 PM — Gulf Cooperation Council
7:15 PM — UNGA Leaders’ Reception
7:40 PM — Venezuela pull-aside meeting
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