Chip design software maker Synopsys is the latest tech firm to see its stock climb on an AI partnership with Nvidia. https://t.co/x96VsBdbyc ...

Economic Data and Inflation - U.S. producer price index (PPI) for final demand fell -0.1% month-over-month (m/m) and rose +2.6% year-over-year (y/y) in August, weaker than expectations of +0.3% m/m and +3.3% y/y [1] - U.S. consumer price index (CPI) increased by a seasonally adjusted 0.4% in August, pushing the annual inflation rate to 2.9%, marking a 0.2 percentage point increase [3] - Core PPI, excluding food and energy, also fell -0.1% m/m and rose +2.8% y/y in August, below expectations of +0.3% m/m and +3.5% y/y [1] Stock Market Performance - Wall Street's major indices ended mixed, with the S&P 500 reaching a new record high, driven by Oracle's aggressive forecast for its cloud business, which saw its stock jump over +35% [2] - AI computing infrastructure stocks surged following Oracle's outlook, with CoreWeave rising more than +16% and Broadcom climbing over +9% [2] - GameStop reported stronger-than-expected Q2 results, leading to a rise of over +3% in its stock [2] - Conversely, Synopsys plummeted more than -35% after reporting downbeat FQ3 results and issuing below-consensus FQ4 guidance [2] Futures and Rate Expectations - September S&P 500 E-Mini futures are up +0.23%, and September Nasdaq 100 E-Mini futures are up +0.31% [4] - U.S. rate futures indicate a 100% chance of a 25 basis point rate cut and an 8.0% chance of a 50 basis point rate cut at the upcoming monetary policy meeting [4] Corporate Earnings and Market Reactions - Adobe is set to report its FQ3 earnings results, which is being closely watched by market participants [5] - In pre-market trading, Nvidia gained about +0.5% after an upgrade to Buy from Neutral, while Oxford Industries surged over +15% following better-than-expected Q2 results [12] - United Parcel Service slid over -2% after a downgrade to Underperform from Neutral [13] International Market Developments - The Euro Stoxx 50 Index is up +0.19% as investors await the European Central Bank's monetary policy decision [7] - Japan's Nikkei 225 closed higher, supported by technology sector strength, with SoftBank Group surging about +10% [10] - China's Shanghai Composite Index closed up +1.65%, driven by optimism surrounding AI and related industries [9]

Group 1: Tesla and xAI - Elon Musk stated he does not support a merger between Tesla and xAI, responding to a question from a user on X [2] - Musk previously suggested a potential $5 billion investment in xAI, which would require approval from Tesla's board and major shareholders [3] - xAI recently merged with X (formerly Twitter), creating a combined entity valued at $113 billion [3] Group 2: Synopsys and Ansys Acquisition - Synopsys received Chinese regulatory approval for its $35 billion acquisition of Ansys, with certain conditions attached [4] - The acquisition aims to enhance Synopsys' leadership in chip-design software [4] - Ansys shareholders will receive $197 in cash and 0.3450 shares of Synopsys common stock as part of the deal [5] Group 3: Warner Bros. Box Office Performance - Warner Bros.' Superman film debuted with a domestic box office of $122 million and an international total of $95 million, leading to a global opening of $217 million [6] - The film's success positions it ahead of competitors, with Jurassic World Rebirth earning $40 million domestically, bringing its total to $232.1 million [6] - F1 The Movie, a collaboration between Warner Bros. and Apple Original Films, earned $13 million in its third weekend, totaling $136.2 million domestically [7]