Stocks Rise at Start of CPI Week; Iran's Hormuz Deal Elusive | Bloomberg Brief 08/10/2026

Summary

US equity futures rally after a weak payrolls report, sending the S&P 500 to records as J.P. Morgan lifts its target. Oil climbs with the Iran-Oman Hormuz deal still elusive. TSMC posts a 45% sales jump on strong AI demand. Macquarie's Thierry Wizman expects a Fed rate hike in coming months and sees a robust dollar supported by high oil prices.

• S&P 500 hits a record after softer jobs data; J.P. Morgan raises year-end target to 8000.
• Oil higher with Brent above $84 as Iran and Oman fail to finalize a Strait of Hormuz reopening deal.
• TSMC monthly sales up 45%, confirming sustained AI hardware demand; company raises guidance and capex.
• Berkshire Hathaway buys back $4.5B in shares and deploys $20B in equities, trimming its cash pile.
• Thierry Wizman of Macquarie sees the Fed hiking in October or December; long yields stay elevated on structural inflation.
• He views the US dollar as robust if oil stays high and the Fed tightens; a fall in oil would revive diversification away from the dollar.
• Chinese deflation returns as CPI and PPI slow, keeping stimulus hopes alive; Beijing uses IPOs and savings to fund AI ambitions.