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Italy's services PMI for August was 55.2, below the expected 54 and the previous reading of 52.5.

2026-09-03

Italy's services PMI for August was 55.2, below the expected 54 and the previous reading of 52.5.

Other News
2026-09-03

Morgan Stanley: Dell is a core beneficiary of the AI infrastructure cycle; current constraint is supply rather than demand. Q2 AI orders totaled $60.9bln with a $95.0bln backlog. Dell’s FY2027 AI-server guide of $74bln is conservative; Morgan Stanley

Morgan Stanley: Dell is a core beneficiary of the AI infrastructure cycle; current constraint is supply rather than demand. Q2 AI orders totaled $60.9bln with a $95.0bln backlog. Dell’s FY2027 AI-server guide of $74bln is conservative; Morgan Stanley forecasts ~ $96bln in FY2027 and ~$150bln in FY2028 — MS’s FY2028 estimate is ~75% above consensus. ISG operating margin widened to 15%, up 6.3 ppts YoY, driven by scale, price increases, richer configurations, supply tightness and higher‑margin storage. Server & networking revenue rose 108% YoY; storage +26%, indicating growth is not solely reliant on AI servers. MS sets a $499 target and keeps a Neutral rating, citing a large prior run-up in the share price and uncertainty how long elevated margins and pull‑forward procurement can persist. Key downside risk: demand may include channel pre‑buying; if supply normalizes pricing power may fall — MS assumes FY2029 revenue declines 4.7% YoY in its model.
2026-09-03

Hungary's 10-year bond yield continued to fall, down 14 bps intraday.

Hungary's 10-year bond yield continued to fall, down 14 bps intraday.
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