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Dow Jumps 422 Points As Nvidia’s $12.9 Billion Hugging Face Deal Lifts Wall Street Sentiment

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FTSE 100 Surges 0.8% Today as Oil Eases and Markets

NEW YORK — U.S. stocks climbed sharply Thursday morning, with the Dow Jones Industrial Average up 422.37 points, or 0.80%, to 53,484.32 as of 9:59 a.m. ET, extending Wall Street’s recovery from a bruising start to the week amid easing bond yields and news of a major acquisition by chip giant Nvidia.

The S&P 500 gained 0.57% and the Nasdaq Composite climbed 0.64%, while the small-cap Russell 2000 outperformed both benchmarks, jumping 1.13%. The broad-based rally came as markets searched for further gains following three consecutive days of declines earlier in the week, with investors also looking ahead to Friday’s closely watched U.S. labor market report for additional clues on the economy’s trajectory.

The benchmark 10-year Treasury note yield eased to around 4.75%, pulling back after touching its highest level since November 2023 on Wednesday. The retreat in yields followed comments from Federal Reserve Governor Christopher Waller, who said he would be “inclined to support” holding interest rates steady if upcoming inflation data continue showing signs of improvement, according to remarks reported by CNBC. The comments offered some relief to markets that had been rattled in recent sessions by concerns over a more aggressive Fed tightening path.

Thursday’s gains built on a rebound that began Wednesday, when the Dow rose 295.07 points, or 0.56%, to close at 53,061.95, snapping a three-day losing streak alongside the S&P 500 and Nasdaq. Nvidia led Wednesday’s advance, rallying more than 3%, while American Express and Walt Disney also posted solid gains. Honeywell International was the session’s biggest Dow decliner, falling nearly 2%, with 3M and Microsoft also finishing lower.

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Adding to Thursday’s positive momentum was news that Nvidia has agreed to acquire artificial intelligence model platform Hugging Face for $12.93 billion, according to a report from the Financial Times, marking the latest move by the $5.4 trillion chip company to deepen its footprint across the AI industry. Nvidia shares rose 0.55% to $225.64 following the report. Hugging Face, which serves as a widely used repository for millions of AI models and datasets and has positioned itself as a leading champion of open AI systems, had previously turned down a $500 million investment from Nvidia last year that would have valued the company at $7 billion, opting instead to maintain its independence.

Oil prices, which have been a significant driver of market volatility in recent sessions amid the ongoing conflict between the United States and Iran, steadied somewhat Thursday after a three-day rally. West Texas Intermediate crude traded near $91 a barrel, having surged roughly 9% over the preceding three trading sessions, while Brent crude settled below $96 on Wednesday after climbing as high as $95.63 that same session.

President Donald Trump commented on the trajectory of the renewed U.S. military campaign against Iran, suggesting the latest round of strikes would not extend indefinitely.

“I don’t think too long,” Trump said when asked how long the current bombing campaign might continue, while also noting the U.S. remained “prepared to do another one” if circumstances warranted further action. Trump separately reiterated his claim that the United States controls the Strait of Hormuz, a critical global shipping corridor for oil exports that has featured prominently in the ongoing conflict.

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The renewed U.S. strikes followed several weeks of relative calm in the six-month war, with Iran responding by launching drones and missiles targeting American military bases across the Middle East, continuing a pattern of retaliation that has characterized much of the conflict’s duration. Market analysts have noted that while some oil exports have continued departing the Persian Gulf aboard tankers operating with their transponders switched off, the latest escalation has raised renewed concern among traders over the potential for deeper disruptions to regional oil supply chains.

Beyond the geopolitical and monetary policy developments driving Thursday’s session, corporate earnings news continued to shape individual stock movements this week. Dell Technologies was among the strongest performers in the S&P 500 earlier in the week, surging 13% after the company beat both revenue and earnings estimates and raised its forecast for fiscal year 2027. Palo Alto Networks moved in the opposite direction, falling 10% despite reporting better-than-expected fourth-quarter results, illustrating the market’s continued sensitivity to forward guidance even when current-quarter performance exceeds expectations.

Sector performance across the S&P 500 has shown broad participation in the recent rebound, with nine of the index’s 11 sectors posting gains earlier in the week, led by materials stocks, which climbed 1.6%. Real estate lagged behind the broader market, falling 0.6% amid continued sensitivity to elevated borrowing costs within that sector. So far in the third quarter, both the Dow and S&P 500 remain higher, putting the indexes on track for back-to-back quarterly gains, while the Nasdaq has traded closer to flat for the quarter after briefly turning positive earlier in the week.

Financial and technology stocks have shown particular resilience in recent sessions, recovering after the earlier run-up in Treasury yields had weighed on the outlook for credit-sensitive sectors. Major technology “hyperscaler” companies posted gains earlier in the week, with Alphabet rising 0.6%, Meta Platforms climbing 2.5%, and Oracle advancing 3.1%, reflecting continued investor enthusiasm for companies positioned to benefit from ongoing artificial intelligence infrastructure spending.

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Beyond equities, market watchers have also pointed to a notable rise in retail participation in alternative investment vehicles this year. According to a Bank of America Institute report cited in recent market coverage, roughly 5% of Bank of America customers used a sports betting or prediction-market platform in July, marking a 40% increase from the start of 2026. The number of people making their first payment to such platforms in June and July was more than three times the level recorded in January, according to the same report, reflecting a broader shift in how younger investors are engaging with speculative markets alongside traditional equities.

With Friday’s labor market report looming as the next major catalyst for markets, investors will likely continue weighing the competing forces shaping this week’s trading: easing Treasury yields and dovish signals from Federal Reserve officials on one hand, and the unresolved Iran conflict’s implications for oil prices and broader inflation expectations on the other, as Wall Street looks to extend its recovery from the volatility that characterized the start of the week.

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10 Things To Know About Quentin Halys Ahead Of His US Open Clash With Alexander Zverev This Week In New York

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Quentin Halys
Quentin Halys
Quentin Halys

French tennis player Quentin Halys is set to face top seed Alexander Zverev in the second round of the US Open, a marquee matchup that has drawn renewed attention to the 29-year-old’s career and current form heading into the fall stretch of the ATP season. Here are 10 things to know about Halys ahead of the match.

  1. He currently ranks No. 52 in the world. As of Aug. 31, 2026, Halys sits at No. 52 in the ATP singles rankings, a slight dip from his position of No. 46, the career-high mark he reached on June 30, 2025. Halys has climbed steadily throughout the current season, moving up from a ranking of No. 95 back in late June 2026 to his current position within a matter of months.
  2. He was born and raised in Bondy, France. Halys was born Oct. 26, 1996, in Bondy, a suburb northeast of Paris that has also produced other notable French athletes. He now resides in Boulogne-Billancourt, France, and turned professional in 2012 at age 15.
  3. He stands 6-foot-3 and plays a right-handed, two-handed backhand game. Halys, listed at 191 centimeters, or roughly 6 feet 3 inches, and around 187 pounds, plays right-handed with a two-handed backhand, a physical profile that has helped him develop a strong serve-based game over the course of his career.
  4. He has won one ATP Tour singles title and one doubles title. Halys claimed his lone ATP Tour singles championship at the 2022 Play In Challenger event, defeating Ricardas Berankis in a three-set final, 4-6, 7-6(4), 6-4, after having eliminated then-defending champion Zizou Bergs in the quarterfinals. Halys has also reached the finals of other ATP Tour events without winning the title, including a runner-up finish at the 2024 Swiss Open Gstaad, where he lost to Matteo Berrettini, 6-3, 6-1.
  5. His deepest Grand Slam singles run has come at Wimbledon and the French Open. Halys has reached the third round at both the French Open, in 2025 and again in 2026, and at Wimbledon, in 2023 and 2024. His results at the Australian Open have been more modest, reaching the second round in 2016, 2024, 2025 and 2026, while the US Open has proven to be his most difficult major, with Halys having been eliminated in the first round in each of his six prior appearances there before this year’s tournament.
  6. He is also an accomplished doubles player. Beyond his singles career, Halys has built a respectable doubles résumé, reaching a career-high doubles ranking of No. 51 on Aug. 24, 2026, matching his current position in that discipline. His best Grand Slam doubles result came this year at the French Open, where he advanced to the semifinals, a significant improvement over his previous best doubles showing at a major, a second-round finish at the 2024 Australian Open.
  7. He won a junior Grand Slam title partnering current top player Benjamin Bonzi. As a junior, Halys reached four Grand Slam finals, three in doubles and one in singles, winning the 2014 French Open junior doubles title alongside Benjamin Bonzi, who has since developed into one of France’s top-ranked professional players. Halys also reached a career-high combined junior ranking, spanning both singles and doubles, of world No. 3 on March 31, 2014.
  8. He has had a productive 2026 season overall. Halys has played 37 matches this season, ranking among the tour leaders in aces with 412, placing him 11th on tour in that category. He also ranks 23rd on tour in second-serve points won, with 647, and 36th in total points won, with 3,119, reflecting a season built heavily around his serve.
  9. His upcoming second-round US Open matchup against Alexander Zverev represents one of the biggest challenges of his career. Zverev, the tournament’s top seed, presents a formidable test for Halys, who will need to rely heavily on his serve-based game to compete with one of the sport’s most consistent players over the course of a best-of-five-set match. The matchup is scheduled to be played during the tournament’s second round, with Halys looking to advance past a major second-round appearance for just the fourth time in his career at a Grand Slam event.
  10. He is coached by Olivier Malcor, with past guidance from Nicolas Devilder. Halys currently works with coach Olivier Malcor, having previously been guided in part by Nicolas Devilder, a former professional player himself, as part of his coaching setup over the years. Halys has accumulated career prize money of more than $5.7 million over the course of his professional career, which began in 2012.

Halys’s path to the second round at this year’s US Open followed a first-round victory that extended his tournament to a matchup against the world’s top seed, a significant test given the gap in overall ranking and Grand Slam pedigree between the two players. Zverev, a former world No. 1 and multiple-time Grand Slam finalist, enters the tournament as one of the favorites in the men’s draw, making Thursday’s matchup a considerable underdog opportunity for the Frenchman.

Halys’s career has been marked by a steady, if unspectacular, rise through the ATP rankings, built primarily on strong results at the Challenger Tour level, where he has won seven singles titles and seven doubles titles, alongside more sporadic breakthroughs at the main ATP Tour level. His current form, reflected in his climb from outside the top 90 in June to his present ranking near the top 50, suggests a player entering a competitive peak as he heads into the latter stages of what has become one of the more durable careers among his generation of French tennis players.

Should Halys manage to upset Zverev, it would mark the most significant win of his career to date against a top-seeded opponent at a Grand Slam event, and would push him into new territory at the US Open, a tournament that has historically proven to be his most difficult major championship. Regardless of the outcome, Thursday’s matchup offers Halys a high-profile platform to showcase the aggressive, serve-oriented game that has fueled his rise up the rankings throughout the 2026 season.

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Indian farmers struggle to meet the demand for avocados

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A basket of avocados from Cottanad Plantations

Fifteen years ago there was almost no market for avocados in India, remembers Sunil Bopaiah.

Ripe fruit would fall off trees and be eaten by dogs, earning avocados the unappetising name dog fruit, he says.

Bopaiah has been working in India’s plantation industry for 26 years, he’s currently group manager at Cottanad Plantations, which grows cocoa, rubber, coffee, spices and fruits, including avocado, in the hills of Wayanad in the southern Indian state of Kerala.

“We never planted avocado as our main crop. We introduced it as a shade tree for coffee plantations, and only later realised it could become a profitable business,” he says.

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He says the turning point was around 2011 when Bollywood star Shilpa Shetty said she used avocado for skincare.

“Overnight, prices doubled and then kept rising,” he says.

Cottanad has responded to that demand by planting avocado trees on 40 acres. Last year they harvested between 10 and 15 tonnes of fruit. In three of four years time they hope to raise that to 40 to 50 tonnes.

There’s been a lot to learn.

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“We completely changed the way we grow avocados after learning from South African experts. Today we use raised beds, wider spacing and different planting methods because avocado roots are highly vulnerable to diseases,” Bopaiah says.

There’s plenty of scope for Indian farmers to step-up production.

“When we studied the market, we found a huge gap between demand and supply. India imports around 15,000 tonnes of avocados every year, while domestic production is only about 8,000–9,000 tonnes,” says Manilal Palliyath who helps promote India’s avocado industry.

He sees a big opportunity for farmers, particularly as traditional crops have suffered.

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“Coffee and pepper have suffered because of changing climatic conditions, making diversification essential for farmers.”

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More than 15,000 children’s squeeze toys recalled over water bead hazard

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More than 15,000 children's squeeze toys recalled over water bead hazard

More than 15,000 popular children’s squeeze toys have been recalled over serious injury hazards linked to the beads they contain, according to federal regulators.

Two recalls have been issued — one for Squeezy Dumplings from GIHNJSI and one for Rainbow Mystery Squishy Buns from OKK Trading.

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Both products contain water beads, which could expand within a child’s body if ingested, posing a potentially deadly hazard, the Consumer Product Safety Commission said in its notice. The toys violate the mandatory federal safety standard for toys because the water beads can expand beyond the allowable size.

“If a water bead is ingested, it can pose ingestion, choking, and intestinal obstruction hazards inside a child’s body, resulting in severe discomfort, vomiting, dehydration and a risk of death to a child,” the commission said.

WEIGHT-LOSS SUPPLEMENT RECALLED AFTER FDA FINDS TOXIC SUBSTANCE

Recalled Rainbow Mystery Squishy Bun, tan container and packaging

More than 15,000 popular children’s squeeze toys have been recalled. (Consumer Product Safety Commission)

About 8,000 Squeezy Dumplings are affected by the recall. They were sold online at Amazon between May and June for about $20. “SQUEEZY DUMPLINGS” and “SQUEEZE ME” are printed on the label.

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Roughly 7,200 Rainbow Mystery Squishy Bun Toys are subject to the recall, sold at various third-party stores nationwide from May to August. “Rainbow MYSTERY” and “SUGAR EDITION” are printed on the front of the package labeling. 

Both toys are translucent, round squishy balls with cartoon faces and glitter-like particles and water beads on the inside. The toys come in a tan plastic container shaped like a bamboo steamer.

Squishy Buns Packaging

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. (Consumer Product Safety Commission)

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. To receive a refund, consumers should write “RECALLED” on the toy and its container, dispose of the product, and email a photo to the recalling company, according to the CPSC.

No injuries have been reported thus far in connection with either toy.

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Additionally, the commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu and to dispose of them, saying they violate mandatory safety standards for toys.

These toys also contain water beads, but the retailer has not agreed to a recall the product or offer a remedy to consumers despite receiving a Notice of Violation, according to the commission.

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

Ivyapingdianpu’s Squishy Bun Toys

The commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu. (Consumer Product Safety Commission)

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

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About 106 of these toys are affected by the warning. They have “SQUISHY BUN” and “Rainbow MYSTERY” printed on the front of a removable tag.

These toys were sold online at Amazon in June 2026, but they may also have been sold by various third-party sellers and on other websites.

No injuries have been reported in connection with these toys. Anyone with a child who experiences any injuries related to these Squishy Buns or who notices any defects is urged to contact the commission.

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Private Hiring Grinds To A Near-Halt As Job Growth Hits 7-Month Low

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Private Hiring Grinds To A Near-Halt As Job Growth Hits 7-Month Low

Private Hiring Grinds To A Near-Halt As Job Growth Hits 7-Month Low

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Why is Zhejiang Shuanghuan Driveline stock surging today?

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Why is Zhejiang Shuanghuan Driveline stock surging today?

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Two people rescued alive from Nepal hydropower tunnel

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Two people rescued alive from Nepal hydropower tunnel

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Everest appoints strategic advisor for Mt Edon

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Everest appoints strategic advisor for Mt Edon

Perth-based Everest Metals Corporation has taken steps to add further value to its Mt Edon critical mineral project, located 420km North East of Perth.

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Japanese trading house stocks reverse course after Berkshire-driven rally

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Japanese trading house stocks reverse course after Berkshire-driven rally

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B&Q and Five Guys among 658 firms named

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B&Q and Five Guys among 658 firms named

More than 650 businesses, including B&Q, Five Guys and Serco, have been named by the government for failing to pay some of their employees the minimum wage. The 658 employers on the list have repaid a total of about £4m to more than 27,000 workers.

The Department for Business & Trade published the list on 3 September and said the repayments followed “robust” enforcement action. Ministers said penalties totalling £7m had been issued to employers found not to be paying the legal minimum.

Jonathan Reynolds, the business secretary, said: “Short-changing your staff isn’t a shortcut to success and we are determined to stamp it out.”

Kate Dearden, minister for the future of work, said: “Underpaying your staff is illegal, and we will not let workers foot the bill for their boss failing to follow the rules.”

The government said it was committed to publishing naming lists more regularly so that employers were swiftly held to account and made improvements as quickly as possible. A previous naming round covered 239 employers who underpaid 22,400 workers a total of £1.44m.

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B&Q tops the list

B&Q, the DIY retailer, was at the top of the list after failing to pay 4,530 workers correctly, owing them a total of £456,934. The company said the shortfalls in payments were “unintentional” and “related to calculations involving geographical allowances which are paid in addition to minimum hourly rates”. The affected employees were paid in full in July 2025, the company said.

Elysium Healthcare Holdings 3 Limited was second on the government’s list, owing £330,048 to 1,095 workers. St George’s, Epsom and St Helier Hospital Group owed £123,331 to 75 workers, while Support Staff Services Limited owed £119,715 to 323 workers and Forest Holidays owed £100,308 to 598 workers.

Five Guys, the burger chain, was named for underpaying almost 3,700 of its workers a total of £54,642. “Following an HMRC review, technical differences in how payroll regulations were applied affected our national minimum wage calculations, resulting in a shortfall of approximately £55,000 across a payroll of more than £330 million,” the company said. It added that it had paid all current and former staff affected.

Serco underpaid 374 staff a total of £36,303. A spokesman for the outsourcer, which provides services to asylum hotels, defence programmes, hospitals, schools, offices and prisons, said the shortfall came from a technical error that affected one contract more than two years ago and related to salary sacrifice schemes. “It was quickly rectified once identified and all employees were reimbursed in full,” Serco said.

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Whitbread, the owner of the Premier Inn hotel chain, appeared on the list after failing to pay 342 employees a total of £4,193. The FTSE 100 company said the shortfall was caused by an administrative error which has since been rectified.

Rates rose in April

The minimum wage, known as the national living wage for those aged 21 and over, was introduced more than 20 years ago. The rate for over-21s rose to £12.71 an hour on 1 April 2026, with the rate for 18 to 20-year-olds increasing to £10.85 and the rate for under-18s and apprentices set at £8.00. The rates change on 1 April every year, according to the government.


Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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Mark My Words September 4 2026

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Mark My Words September 4 2026

Isabel Vieira speaks to Claire Tyrrell, Tom Zaunmayr and Sam Jones about the big events of the week in WA business and politics.

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