TREE NEWS reports: The average price of diesel in the US reached a record $5.820 per gallon. This marks an all-time high, reflecting continued upward pressure on fuel costs. The previous record was set in June 2022.
TREE NEWS update: OpenAI CEO Sam Altman said the release of the Astra model took longer than originally anticipated. He also remarked that the industry has done a poor job communicating the benefits of AI, and stressed that model monitorability is not the only important factor. Altman made these comments in a Bloomberg Television interview.
TREE NEWS update: SpaceX apologized for the recent Grok service disruption, attributing the failure to an outage at its Memphis computing center. The company issued the apology in a statement, confirming the root cause of the technical issues that affected users.
TREE NEWS update: Mantle has added Paxos-issued USDG as a natively minted stablecoin, integrating it into its ecosystem. The move also sees Mantle join the Global Dollar Network, a network that shares rewards from USDG’s reserves with participating platforms. This integration aims to expand stablecoin utility within Mantle’s DeFi applications.
TREE NEWS reports: ICE raw sugar futures fell 3.80% and white sugar dropped 2.66% at Thursday’s New York close. Arabica coffee fell 1.42%, robusta coffee 1.15%, and New York cocoa 2.12% to $6,140/tonne. ICE cotton declined 2.79%, while Chicago canola rose 0.48%.
TREE NEWS reports: The dollar fell 1.89% against the yen in New York trading on Thursday, closing at 155.71 yen, with an intraday range of 158.97-155.30. The decline was steady from 08:00 to 22:00 Beijing time. The euro and pound also weakened against the yen, down 1.54% to 181.04 and 1.60% to 210.24, respectively.
TREE NEWS update: Coinbase has filed registration documents with the U.S. Securities and Exchange Commission (SEC) to offer perpetual warrants on its stock in the United States. The filing marks a step toward the new securities product.
TREE NEWS reports: The ICE US Dollar Index fell 0.67% on Thursday, September 3, to 98.932 points, trading within a range of 99.612-98.831 points, continuing its downward trend. The Bloomberg Dollar Index also declined 0.54% to 1189.84 points, with a range of 1196.73-1188.58 points.
TREE NEWS reports: Chicago wheat futures fell 2.8% to $7.5225 per bushel on Thursday, after dipping to $7.3050. Corn dropped 0.78% to $5.3925, while soybeans rose 0.38%. The Bloomberg Grains Index slipped 0.85%.
TREE NEWS update: Iran’s oil minister announced that over 30 wells have been drilled at the South Pars gas field, with some yielding positive results. The development underscores ongoing efforts to boost natural gas output from the shared field.
TREE NEWS reports: US money market assets reached a record $7.98 trillion. The figure marks an all-time high for the sector, reflecting strong investor demand for cash-like instruments amid market conditions.
TREE NEWS update: Crusoe has signed a cloud computing agreement with Jane Street valued at approximately $13 billion. The deal underscores growing demand for AI-focused cloud infrastructure from financial firms. Specific terms and duration were not disclosed.
TREE NEWS update: Volkswagen’s works council said that splitting the passenger car and components businesses is not on the negotiating table. The council stated it will not accept measures that shift burdens onto workers. This comes amid ongoing discussions over cost cuts at the German automaker.
TREE NEWS reports: Michigan authorities continue efforts to block Kalshi, with a Supreme Court battle looming. Kalshi earlier said it faced an “impossible position” after federal authorities directed it to ignore a Michigan restraining order issued in June. The ongoing dispute highlights regulatory tensions over prediction markets.
TREE NEWS reports: Hong Kong’s Hang Seng Index main continuous night session closed up 1.11% at 25,421 points. The Hang Seng Tech Index main continuous night session rose 1.32% to 4,528 points.
TREE NEWS update: Volkswagen’s turnaround plan includes an additional 50,000 job cuts worldwide. The move is part of broader cost-saving efforts. Volkswagen’s US-listed shares (VWAGY) rose 4% following the announcement.
TREE NEWS reports: The onshore Chinese yuan (CNY) closed at 6.7178 per dollar at 03:00 Beijing time, up 15 pips from Wednesday’s night session close. Trading volume reached $23.823 billion.
TREE NEWS reports: Bitcoin rallied 5% to reclaim $80,000 as the US dollar weakened amid a suspected Bank of Japan currency intervention. Analysts remain split on the impact of the move.
TREE NEWS update: US Vice President JD Vance said the Federal Reserve should lower interest rates. His statement adds political pressure on the central bank ahead of its next policy decision. No specific timing or magnitude was mentioned.
TREE NEWS reports: OpenAI’s ChatGPT, Anthropic’s Claude and xAI’s Grok all suffered simultaneous outages on Thursday, prompting users to question how to work without AI. The three platforms have since restored service. The disruptions halted work for many users who rely on these tools.