August 28 Overnight News: U.S. Stocks Close Higher, NVIDIA Q2 Revenue Hits $46.7 Billion, U.S. Government Eyes Defense Giant Lockheed Martin, Russia Implements New Gasoline Export Ban

Deep News
13 hours ago

**Markets**

U.S. stocks closed higher with the S&P 500 index setting a new historical record as markets focused on NVIDIA's earnings report.

Top 20 U.S. stocks by trading volume on August 27: MongoDB surged 38% after raising financial guidance.

Most Chinese concept stocks declined on Wednesday, with Taiwan Semiconductor up 0.24% while Li Auto fell 8.32%.

Oil prices rose as investors monitored the Russia-Ukraine conflict and U.S. inventory conditions.

New York gold futures gained 0.5%, while the Philadelphia Gold and Silver Index retreated from its closing historical high.

European stocks closed mixed, with France's CAC40 index up 0.44%.

**Macroeconomic News**

Behind Trump's bid for Federal Reserve control lies a dangerous debt chess game.

The EU is reportedly preparing secondary sanctions to prevent third countries from helping Russia evade punishments.

Russia implemented a new temporary ban on gasoline exports for vehicles.

After Intel, is Lockheed Martin next? The U.S. government may replicate its "equity participation model" to enter the defense giant sector.

French Prime Minister Bayrou plans to meet with opposition parties on Monday, striving to avoid defeat in a confidence vote.

The U.S. approved the sale of over $100 million worth of Sidewinder missiles and related equipment to NATO.

Ukraine's Prime Minister announced the launch of lithium mining rights bidding in Kirovohrad Oblast.

Zelensky announced that Ukrainian and U.S. delegations will meet in New York on the 29th.

Germany and Canada are deepening cooperation in critical mineral supply chains.

After 30 years of discussion, Germany establishes a National Security Committee.

Brazil's Finance Minister said tariff issues may be resolved through judicial channels.

Mexico announced the suspension of package delivery services to the U.S.

Danish Prime Minister called American secret activities in Greenland "unacceptable."

**Companies**

NVIDIA reported second-quarter revenue of $46.743 billion with net profit up 59% year-over-year.

NVIDIA's revenue hit new highs again, though this quarter's revenue guidance was less impressive.

Trip.com released Q2 earnings: Inbound tourism continues strong growth, building a sustainable and inclusive industry future.

The founder of offline social app IRL was charged with defrauding investors.

Canada Goose shareholders received a privatization acquisition offer, with stock price rising nearly 15%.

A mining company backed by Bezos and Bill Gates received seven lithium exploration licenses in Congo.

GlobalFoundries stated that CHIPS Act subsidies are progressing well without requiring equity surrender.

Greek refiner Motor Oil's first-half net profit plummeted 54.9%.

Rio Tinto restructured its business into three major divisions.

**Commentary**

Citigroup expects silver and palladium to face high tariffs.

Trump's plan to dismiss Federal Reserve Governor Cook could trigger historic legal action.

Tariffs cause India's diamond industry depression: order losses and massive office vacancies.

Yellen criticized Trump's Cook dismissal plan: illegal and dangerous, could lead to catastrophic consequences.

Federal Reserve Governor Williams emphasized central bank independence, dissatisfied with Trump's Cook dismissal plan.

New York Fed President said every policy meeting is a substantive meeting where rate action could be taken.

Taylor Swift's engagement buzz reaches unprecedented levels, even driving U.S. stock market volatility.

Commodities overview: Inventory declines push oil prices higher, gold basically flat, London copper falls.

New York foreign exchange: Bloomberg Dollar Index slightly down, U.S. Treasury Secretary Bessent calls for Federal Reserve internal review.

U.S. bond market: Treasuries rise despite cooling demand in 5-year auction.

European markets steady, bank stocks decline as markets focus on NVIDIA performance.

European bond market: France-Germany 10-year government bond spread set to close at widest level since January.

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