Morning Preview: September 08, 2026

Early Look

Tuesday, September 8, 2026

U.S. futures are mixed this morning with Dow Jones futures down over -300 points, S&P 500 futures down slightly and Nasdaq futures up slightly amid a busy morning of news. Brent crude is approaching $100 a barrel as operations at Saudi energy facilities were halted following Houthi attacks that wounded 73 people. The escalation, amid wider Middle East tensions, sent oil prices soaring, with Brent crude futures rising above $98 a barrel, while the 10-year US Treasury yield is trading at 4.80% and the 30-year at 5.27%. Several pharmaceutical stocks are under pressure following two separate failed drug studies from Novartis (NVS) which has shares down -12%, one in neuromuscular study and one on cardiovascular/cholesterol, which is hitting shares of AMGN, LLY, IONS, DYN and SRPT. Several stocks are also moving on S&P index changes announced late Friday as BE, Everpure (P), and IILMN are being added to the S&P 500 index, while TAP, TTD and BLDR are being removed from the S&P 500 index. Also, NKE, HONA, SPG and CL are set to leave the S&P 100 index while technology companies DELL, PANW, ANET and SNDK go into the index. There were also several S&P Smallcap 600 index changes announced (more below). In Asian markets, The Nikkei Index tumbled -1,130 points or 1.7% to 65,269, the Shanghai Index rose 7 points to 3,940, and the Hang Seng Index fell -95 points to 25,317. In Europe, the German DAX is down -63 points to 25,943, while the FTSE 100 is down slightly at 10,818. U.S. stocks fell Friday after surprisingly strong jobs data muddied the outlook for Federal Reserve policy, which sent yields higher. American employers added 162,000 workers to payrolls in August, roughly three times the number that economists had forecast. Yet for the week, the S&P 500 climbed 0.1%, the Dow fell 0.3% and the Nasdaq climbed 0.4%. As Wall Street returns from the 3-day Labor Day holiday weekend, an interesting tidbit as @Bluekurtic noted on X last Friday, “The market is closed Monday for Labor Day. A reminder that the first trading day of Labor Day week hasn’t been kind to the S&P 500. Since 2017, $SPY has fallen on Day 1 every single year, while the full 4-day week finished positive just 3 of 9 times.”

• The Dow Jones Industrial Average fell -272.51 points, or 0.51%, to 53,413.60
• The Nasdaq Composite slipped -77.07 points, or 0.29%, to 26,506.99
• The Russell 2000 Index advanced 7.37 points, or 0.25% to 2,975.65

• 1:00 PM ET US Treasury to sell 3-year notes

• Earnings After the Close: AVO BRZE CASY GME INNV MIND TTAN YQ

• Citigroup 2026 TMT Conference, 9/8-9/10 in New York, NY
• DA Davidson 5th Annual Big Sky Technology Summit, 9/8-9/11, in Big Sky, MT
• Deutsche Bank 16th Annual Aviation Forum, 9/8-9/10 in New York
• Goldman Sachs Communacopia + Technology Conference, 9/8-9/11, in San Francisco, CA
• Wells Fargo 21st Annual Healthcare Conference, 9/8-9/10 in Everett, MA
• China CPI, PPI for August

• Japan’s real wages rose 2.4% in July from a year earlier, marking the biggest increase since May 2021 and the seventh consecutive month of gains, government data showed. The growth in real pay was better than June’s revised 2.2% gain.
• China’s exports jumped 25% in August from a year earlier on strong demand for autos and high-tech goods as its record trade surplus widened further. China’s global imports climbed 28.2% in August from a year earlier, up from July’s 27.5% rise. Exports grew 23.9% year-on-year in July. The trade surplus expanded in August to $119.1 billion from $112.5 billion in July.

• Nike (NKE), Honeywell Aerospace (HONA), Simon Property Group (SPG), and Colgate-Palmolive (CL) are also set to leave the S&P 100 index before the U.S. market opens on September 21, 2026, while technology companies Dell Technologies (DELL), Palo Alto Networks (PANW), Arista Networks (ANET) and SanDisk (SNDK) into the index.
• Dow Jones Indices is making the following changes to the S&P 600 index effective prior to the open of trading on Monday, September 21, to coincide with the quarterly rebalance. Herc Holdings (HRI), Delek US Holdings (DK), AXT (AXTI), Arcutis Biotherapeutics (ARQT), AtriCure (ATRC), Capri Holdings (CPRI), Boston Beer (SAM), Molson Coors Beverage (TAP), The Trade Desk (TTD), and Builders FirstSource (BLDR) are being added, while N-able (NABL), Shenandoah Telecom (SHEN), Matthews Intl (MATW), Verra Mobility (VRRM), Franklin BSP Realty Trust (FBRT), NexPoint Residential Trust (NXRT), Amerisafe (AMSF), Cogent Communications (CCOI), Corcept Therapeutics (CORT), and Brinker (EAT) are being removed from the S&P 600 index

• Uber (UBER) files for Euro-denominated five Parts Senior notes offering; size not disclosed

• Bombardier (BDRBF): In a post on Truth Social, President Donald Trump wrote, “NO MORE SELLING BOMBARDIER IN THE UNITED STATES! Their products aren’t good enough! Over 50% of their revenue comes from the United States – They live off American Buyers, American Companies, American Airports, and American Service – All while Canada blocks our GREAT American Banks, and Companies, throughout the U.S.A. They even blocked Gulfstream Aerospace from doing business in Canada – Completely unjust and unfair! That Era is OVER!

• M&T Bank (MTB) was upgraded to Overweight from Equal Weight at Morgan Stanley and raised tgt to $304 from $253 and also named M&T a top pick saying the bank is gaining momentum and can post upside to Street estimates for both net interest income and buybacks.

• Beam Therapeutics (BEAM) announces updated clinical data from its phase 1/2 trial evaluating BEAM-302 for Alpha-1 Antitrypsin Deficiency; BEAM-302 continues to demonstrate potential as one-time treatment for both lung and liver manifestations of AATD.
• Boston Scientific (BSX) says ‘unlikely’ to meet net sales, adjusted EPS guidance after noting that on August 25, the company identified a cybersecurity incident that affected certain of its information technology systems and resulted in a global disruption to the company’s operations.
• Guardant Health (GH) announces landmark FDA Approval of Guardant360® CDx as companion diagnostic for AstraZeneca’s (AZN) ETCAMAH™ (Camizestrant) in Advanced Breast Cancer; approval recommends repeat Guardant360 CDx testing every three months during therapy to detect emerging ESR1 mutations before clinical or radiographic disease progression.
• Novartis (NVS) shares tumble after its experimental drug (del-desiran) for a muscle wasting disorder failed in a late-stage study; said late-stage testing of del-desiran for the treatment of myotonic dystrophy failed to meet its primary endpoint. Novartis acquired the treatment as part of its recent $12 billion acquisition of Avidity. Shares of Sarepta (SRPT) and Dyne Therapeutics (DYN) both tumbled on Novartis failure as DYN’s z-basivarsen is also trying to correct DM1 by reducing toxic DMPK RNA while SRPT’s SRP-1003 is also an siRNA that knocks down DMPK, but they use an αvβ6-integrin-targeting Ligand rather than TfR1.
• Novartis (NVS) and Ionis (IONS) said their experimental drug Pelacarsen did not cut the risk of major heart attacks and strokes in patients with a genetic risk factor in a late-stage trial. The drug successfully lowered a dangerous genetic cholesterol, Lp(a), but it did not improve overall heart health outcomes.
• Novo Nordisk (NVO) has halted two trials testing if ziltivekimab, its experimental heart disease medicine, would help patients with heart failure, Bloomberg reported saying the committee found a “low likelihood of a different outcome” in the trials.
• Roivant (ROIV) shares rise after saying an experimental drug for a type of pulmonary hypertension achieved the goals of a mid-stage study. In the 16-week Phase 2 study its drug mosliciguat achieved a statistically significant 56% reduction compared to placebo in pulmonary Vascular resistance.

• Huawei and Xiaomi (XIACF) have launched new foldable smartphones ahead of Apple’s (AAPL) product launch later this week, Reuters reported. Huawei unveiled its Mate XT2 series features its Kirin 9050 Pro chip while Xiaomi announces its Xiaomi 18 Fold.
• Nokia (NOK) announced Mobile Core Early Access, a live hosted environment that provides an up-close look at the software driving advanced network connectivity in the AI era. Available globally to telecommunication providers and enterprises, the initiative is designed to shorten the path from technology awareness to informed planning, validation, and adoption.
• Synopsys (SNPS) upgraded to Overweight from Equal Weight at Morgan Stanley with a $500 price target having gained greater confidence in the synergy trajectory from the Ansys integration and in a design IP recovery.