BlockBeats reported on Sept. 2 that a series of key developments emerged before Monday’s US market open, spanning labor data, Federal Reserve signals, semiconductor tariffs, regulatory events and major technology-sector deal activity.
ADP employment growth came in below expectations
US ADP employment increased by 38,000 in August, the smallest gain since January. The figure missed market expectations of 48,000 and compared with a previous reading of 44,000.
After the release of the ADP report, often referred to as the private-sector payrolls report, markets priced a 37.8% probability that the Federal Reserve would keep rates unchanged in September and a 62.2% probability of a cumulative 25 basis-point rate hike.
Williams says inflation remains the top priority
Federal Reserve official John Williams said inflation remains the primary task and that the current level of interest rates is appropriate.
He also said bond yields are an important source of information for the Fed in assessing economic conditions. According to Williams, the recent rise in yields has been driven mainly by strong economic performance, an upbeat economic outlook and solid investment demand, while conflict in the Middle East has also been a factor.
Trump administration considers a new round of chip tariffs
US Commerce Secretary Lutnick said on Wednesday that the Trump administration is considering a new round of import tariffs on semiconductors. The move could further raise taxes on foreign-made chips in an effort to draw more semiconductor manufacturing into the United States.
He added that the tariffs could be paired with tariff relief measures for companies investing in domestic US manufacturing, following an approach previously used by the Trump administration in the pharmaceutical sector.
Broker calls and market warnings
Oppenheimer raised its price target on SpaceX (SPCX) to $280 from $250 and maintained an outperform rating.
Analyst Tim Horan said SpaceX has a vertically integrated AI platform, along with advantages in data, capital and access to Nvidia GPUs, while it is also rapidly expanding infrastructure.
JPMorgan global investment strategist Grace Peters said that as global equities enter a historically weak September, the continued rise in bond yields remains a key risk for stock markets worldwide.
Peters said US and European equities still have room to rise this year. She also warned that stocks could still face a 5% to 8% pullback as risk events, including the November US midterm elections, draw closer.
SEC releases agenda for 24-hour trading roundtable
The US Securities and Exchange Commission released the full agenda and guest list for its Sept. 17 roundtable on 24-hour trading.
The meeting will be held at SEC headquarters from 10 a.m. to 4 p.m., will be open to the public and will be livestreamed on the SEC website. Participants include Robinhood, the New York Stock Exchange and BlackRock.
Nvidia reportedly in talks to acquire Hugging Face
Nvidia is in advanced talks with artificial intelligence startup Hugging Face on a deal valued at about $14 billion, according to the premarket briefing.
One person familiar with the matter said Nvidia could reach an agreement as early as this week to acquire Hugging Face for $12.9 billion. The transaction could include a $1 billion employee retention plan.
Apple CEO compensation changes disclosed
An SEC filing showed that Apple’s new CEO, Ternus, will see annual salary rise to $3 million starting Sept. 1, 2026. The filing also approved an annual equity award for fiscal 2027 with a target value of $55 million.