Steel Dynamics Guides Q3 EPS to $5.34–$5.38; Fabrication Backlog Up Nearly 50%
Steel Dynamics guides Q3 EPS to $5.34–$5.38. Its filing says fabrication backlog is nearly 50% above the prior-year Q3 level and extends into Q1 2027.
Stock Market
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Bessent Triples Buybacks to $6B as Bond Market Rebels
Treasury Secretary Scott Bessent tripled long-end buybacks to $6B, but the 30-year yield held near 5.32% as Trump’s $1.23T dividend pledge hit debt markets.
Oura Files for Nasdaq IPO: $1.2B Revenue, $61M Net Income
Smart-ring maker Oura files S-1 for a Nasdaq listing under ‘OURA’ — with $1.21B in 9-month revenue (+74% YoY), 5M paid members, and $61M in net income. Goldman, Morgan Stanley, JPM lead.
Jobs Blowout: 162K Hires Force Fed Rate-Hike Bets Back
US employers added 162,000 jobs in August, more than double consensus. Treasury yields ripped and September rate-cut bets flipped to potential hikes.
September FOMC Preview: Three Hawks Meet Friday’s Jobs Report
Fed dot plot lands Sept 15-16 with three July dissenters wanting hikes and the 30-year at 5.27%. Friday’s jobs report is the last read before the vote.
Delivery Hero Board Backs Uber’s $14.8B Cash Bid
Delivery Hero’s boards endorsed Uber’s EUR 41.50 per-share cash tender, a EUR 13B (~$14.8B) deal that would forge a 99-country food-delivery giant.
Global Bond Selloff: Japan Cracks 3%, UK 30Y Near 6%
Long-end bond yields surged worldwide on Sep 2, 2026: Japan’s 10-year cleared 3% for the first time since 1996, UK 30Y Gilts hit 5.83%, and the US 30Y sits at 5.27%.
Dangote Refinery’s $2.5B Placement Sets Up October IPO
AFC-led $2.5B placement closed 3.7x oversubscribed. Dangote lines up an October NGX IPO with a $1B underwriting backstop — Africa’s largest ever.
Fed Discount Rate Vote: 4 Banks Wanted a Hike, Board Held
Fed discount rate minutes released Aug 25 show four Reserve Bank boards voted to raise the primary credit rate to 4.00% by July 29 — up from two.
McKesson to Buy Precision Medicine Group for $2.25B
McKesson unveiled a $2.25B deal for Precision Medicine Group, doubling down on its fastest-growing segment: Oncology & Multispecialty.