U.S. annual CPI rose 3.4% in July, matching expectations, and traders put the odds of the Federal Reserve holding rates in September at 55%. Shares of AI infrastructure companies CoreWeave, IREN and Applied Digital climbed, while Super Micro Computer’s upbeat revenue outlook added momentum. The moves helped push both the S&P 500 and the Dow to record highs.

The Democratic Republic of Congo unexpectedly imposed an export ban on copper and cobalt concentrates, jolting global markets and pushing London Metal Exchange copper to a new high. The move comes even as Congo’s refined copper output remains robust, but its smelting capacity is limited and new smelters are still under construction. Similar bans in the past were blunted by waivers, yet the latest restriction intensifies competition in an already tight concentrates market as copper inventories keep falling. Goldman Sachs said the ban is unlikely to materially change the global balance, but markets remain highly sensitive to supply disruptions.

Geopolitical tensions pushed oil and gold sharply higher. U.S. crude futures rose 0.89% to $83.94 a barrel and Brent gained 0.78% to $89.60, both the highest since July 31. Spot gold climbed 0.46% to $4,387.03 an ounce. Asia-Pacific markets were mixed, with MSCI’s Asia-Pacific index excluding Japan up 0.5% and Japan’s Nikkei flat, while Japan’s bond market came under pressure as the 5-year JGB yield hit a record 2.1% and the 2-year yield reached a 31-year high.

Russia’s wheat exports in August are expected to fall to 3.0 million to 3.4 million tonnes from 4.5 million a year earlier, marking the lowest level since the 2016/17 season, according to agriculture consultancy Sovecon. The forecast reflects delayed harvesting, weak domestic prices and shipping disruptions in the Black Sea linked to security risks. Turkey has warned both Moscow and Kyiv over recent attacks in the Black Sea and urged steps to ensure safe navigation routes.

India is considering limiting the use of sugarcane for ethanol production in the next crushing season after below-normal rainfall in key growing regions raised concerns about lower cane output. The move would prioritize domestic sugar supply to cool soaring prices. The government plans to make a final decision by the end of the month, and the measure, if adopted, would increase sugar availability and ease supply tightness.

The U.S. Labor Department reported that nonfarm payrolls fell by 23,000 in July, far below expectations for an 80,000 increase. The unexpectedly weak data eased concerns that the Federal Reserve could tighten policy further. Traders cut the implied odds of a September rate hike to about 20% from 55%. The Dow and S&P 500 hit fresh record highs, led by gains in technology and consumer discretionary shares, with Atlassian standing out while chip stocks swung sharply.

U.S. nonfarm payrolls fell by 23,000 in July, far below expectations for an increase of 80,000, prompting speculation that the Federal Reserve could pause rate hikes in September. Wall Street’s three major indexes rose on the news. The S&P 500 and the Dow logged their biggest weekly gains since April, while the Nasdaq hit its highest level since May.

U.S. nonfarm payrolls fell by 23,000 in July, far below expectations for an 80,000 increase, while the unemployment rate edged down to 4.1% and average annual earnings rose 3.2%. The data raised doubts about a Federal Reserve interest-rate hike in September, with markets leaning toward a pause, according to a Labor Department report. U.S. stock index futures advanced ahead of the open, led by technology shares as Atlassian and Microchip Technology gained. Solar stocks including First Solar and SolarEdge also rose after President Trump imposed tariffs on polysilicon products.

U.S. stock futures edged higher on Friday as investors awaited the U.S. employment report. Strong earnings from tech companies lifted sentiment, with Atlassian up 31.6% in premarket trading and Microchip Technology rising 8.9%. The S&P 500 and the Dow were set for their best weekly performance since April, while the Nasdaq was on track for its biggest weekly gain since May. The government also raised tariffs on polysilicon to support domestic industry.