Stocks Fall Ahead of High-Stakes Week; Canada Sees Long US Trade War | Bloomberg Brief 08/24/2026

Summary

Bloomberg Brief frames a high-stakes week with US equity futures lower and tech weakness ahead of PCE data, Nvidia earnings, Fed Chair Warsh's Jackson Hole speech, and Treasury Secretary Bessent's Iran remarks. US-Canada trade talks collapsed, with Canada preparing retaliatory tariffs and signaling a prolonged standoff. Sharon Bell of Goldman Sachs remains constructive on European equities but sees slower gains, while Rabobank's Jane Foley discusses Treasury credibility concerns, a dollar that is exposed but supported by growth, and gold as debasement insurance.

• US equity futures were lower with tech weakness ahead of PCE data, Nvidia earnings and Fed Chair Warsh's Jackson Hole speech.
• Canada-US trade talks collapsed; Canada plans dollar-for-dollar tariffs on September 8 and sees a long standoff.
• Alibaba raised a record Hong Kong share sale to fund AI, triggering dilution and AI overspending concerns.
• Nvidia reportedly raised server prices more than 15% because memory costs are soaring ahead of earnings.
• Steel Dynamics and steel names rose on the absence of a US-Canada trade deal.
• Gold traded near $4,600 an ounce as fiscal credibility and debasement concerns supported insurance demand.
• Jane Foley sees US Treasury credibility questions and says the dollar is exposed but unlikely to crumble.
• Sharon Bell expects European equities to still deliver positive returns, though at a slower pace.