Iran Hit U.S. Bases in Four Countries Overnight

Markets at a Glance

S&P Futs 7,643 ↓0.3%

Gold $4,304 ↓0.6%

Dow Futs 52,920 ↓0.3%

10-Yr 4.78% ↓1bp

WTI $90.98 ↑0.8%

Bitcoin $77,121 ↓1.3%

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The Big Stories

1.	Iran launched missiles and drones at US bases in Kuwait, Jordan, Bahrain, and Iraq. Jordan intercepted 10 of 13 missiles fired at its territory. Four countries hit in one night. Reuters

2.	Private payrolls grew by 38,000 in August, below the 48,000 estimate. Slowest month since January. Friday’s jobs report just got more important. Fox

3.	NY Fed President Williams said he’s not convinced a rate hike is the answer. He said energy price effects aren’t broadening into wider inflation. Fed Governor Barr said the opposite 24 hours ago. Fed

Markets & Economy

4.	The 10-year yield hit 4.818% intraday on Wednesday. That’s the highest since November 2023. CNBC

5.	WTI crude topped $90 for the first time since late July. Third straight session of gains. BBG

6.	HPE posted EPS of $1.11 vs the $0.93 estimate. Revenue hit $12.2 billion, above the $11.9 billion forecast. Stock fell 5.4% after hours on margin concerns. CNBC

Politics

7.	Trump said the renewed campaign against Iran won’t continue for long. He said Iran is trying to rebuild radar and missiles the US already destroyed. BBG

8.	Driscoll’s resignation as Army Secretary was accepted. Wednesday is his last full day. He told the White House he felt he had to go. Fox

Around the World

9.	Japan’s 10-year bond yield hit 3% for the first time in 30 years. The Nikkei fell 2.60% on Wednesday, down ~2.7% in two sessions. Reuters

10.	Gold fell to a three-week low of $4,304. September rate hike odds hit 70%. The metal has erased most of its 2026 gains. Reuters