Switzerland August CPI YoY 0.8% (expected 0.5%; prior 0.40%).

US initial jobless claims rose 2,000 to 206,000 in the week ending Aug. 29, seasonally adjusted, versus economists’ 205,000 estimate, the Labor Department said Thursday. Claims have held in a low 189k–230k range year-to-date, consistent with economists’ description of a “low hiring, low layoffs” labor market. Despite strong domestic demand, employers remain reluctant to materially add headcount amid aggressive trade and immigration policies. Challenger said announced hiring plans in the first eight months of the year were up 37% versus the same period in 2025, but that many of those roles are not being filled quickly.

伯恩斯坦認爲，甲骨文正處於新一輪高強度投資週期，雲業務尤其是第二代雲基礎設施和AI數據中心將推動收入、利潤和自由現金流加速增長，並有望使其成爲全球前三大超大規模雲廠商之一。2026財年雲基礎設施收入約181億美元，同比增長77%，其中AI收入估計約66億美元。雖然鉅額資本開支會壓低毛利率並帶來融資需求，但高利潤的數據庫、多雲和企業軟件業務可部分對衝。伯恩斯坦維持“跑贏大市”，目標價325美元。（上述觀點來自伯恩斯坦9月2日報告）