At the midday close, China's most-active commodity futures were mostly higher. Ethylene glycol (EG) rose more than 6% and methanol gained over 5%; bottle-grade PET chips, asphalt, paraxylene (PX) and PVC advanced over 4%; polyester staple fiber and polysilicon climbed above 3%. On the downside, red dates and palladium fell over 3%; live hogs, SHFE silver and apples dropped more than 2%; SHFE gold declined about 2% and lithium carbonate eased just over 1%.

JP Morgan's Market Intelligence team cut its tactical view on US equities to cautious/neutral, saying indices are likelier to trade sideways over the next 2–3 weeks while subindexes and individual stocks may see larger volatility. Key drivers: after Jackson Hole, bond-market-implied probability of a September Fed hike rose roughly from 35% to 58%; the JPMPURE momentum index is down >21% from its June peak and the Classic momentum index is down ~34%, well beyond typical 10–15% pullbacks. Positioning offers no clear directional signal — US TPM sits at the 37th percentile — and historical patterns point to about 3–4 weeks of range-bound trading. Monitor inflation and rate-expectation moves, credit spreads, and the speed of momentum liquidation. Index-level damage is not the base case, but crowded, momentum-dependent stocks could see outsized idiosyncratic volatility.

An Iraqi government spokesman said Iraq's prime minister will visit France and Germany in mid-September.