The U.S. Congress will hold an AI forum OpenAI launches the enterprise version of ChatGPT|Global Market

Overnight stock market

The world's major stock indexes rose on Monday, and the three major indexes of U.S. stocks rose collectively for two consecutive trading days.

Commodity markets

Light crude futures for October delivery rose 27 cents, or 0.34%, to settle at $80.1 a barrel on the New York Mercantile Exchange by the close of the day; London Brent crude futures for October delivery fell 6 cents, or 0.07 percent, to settle at $84.42 a barrel.

The most actively traded gold futures market on the New York Mercantile Exchange gold futures market in December rose $6.9, or 0.36%, to close at $1946.8 an ounce on the 28th; Silver futures for September delivery rose 1.8 cents, or 0.07%, to settle at $24.252 an ounce.

Market news

[AI Forum will be held soon, Musk and other technology bigwigs will gather on Capitol Hill]

CEOs of big U.S. tech companies will travel to Capitol Hill next month for the first-ever AI Insights Forum chaired by Senate Majority Leader Chuck Schumer. The closed-door forum, scheduled for September 13, will be attended by many heavyweights, including Musk, Meta's Zuckerberg, Google's Sanda Pichai, OpenAI's Sam Ultraman, Nvidia's Jensen Huang and Microsoft co-founder Bill Gates. Microsoft CEO Satya Nadella, former Google CEO Eric Schmidt, civil society groups and unions will also attend.

[Russian Ministry of Defense: US Air Force drones were found flying in the direction of the Russian border over the waters of the Black Sea]

The Russian Ministry of Defense issued a statement on August 28, local time, saying that on the same day, Russia found the US Air Force MQ-9 "Reaper" and RQ-4 "Global Hawk" drones flying towards the Russian border over the southwestern waters of the Black Sea, and conducted aerial reconnaissance in the Crimean Peninsula. Two fighters on duty by the Russian air defense forces immediately took to the air to prevent the above-mentioned drones from violating the Russian border and prevent their use of radio technology for reconnaissance. As a result of the actions of Russian fighters, the UAV of the US Air Force subsequently changed the direction of flight and left the area where aerial reconnaissance was taking place.

[US President Joe Biden approves Florida emergency declaration]

US President Joe Biden declared a state of emergency in Florida on August 28, local time, and ordered federal assistance for the state to help deal with the impact of tropical storm "Idalia" on the local area. Biden authorized the Department of Homeland Security and the Federal Emergency Management Agency (FEMA) to coordinate disaster relief efforts and provide appropriate assistance to those in need.

[Trump's alleged interference in the 2020 election will be tried on March 4 next year]

U.S. District Court Judge Tanya Chutkan of the U.S. District Court in Washington set the trial date for former U.S. President Donald Trump for alleged interference in the 2020 election on August 28, local time, March 4, 2024. Chutcan did not accede to Trump's team's request to delay the trial until April 2026. Alleged interference in the 2020 election is one of four criminal charges Trump currently faces. The other three are the "illegal possession of confidential documents" case, which is currently scheduled to go to trial in May next year; the New York State "hush money" case, which is scheduled to go to trial in March next year; and a case that allegedly overturned the results of the vote count in Georgia in the 2020 presidential election.

European Council President: EU should prepare to include Western Balkan countries by 2030

European Council President Michel said at the Bled Strategic Forum in Slovenia on the 28th that the EU should be ready to admit Western Balkan countries as member states by 2030. To join the bloc, future member states must implement reforms to ensure judicial independence, fight organised crime and corruption, and align foreign policy with EU member states, Michel said. He also urged all countries wishing to join the EU to resolve bilateral conflicts before joining. He said the European Council would discuss EU enlargement at its next meeting. The European Commission is expected to release an expanded package in October, outlining the specifics of accession.

[U.S. 5-year Treasury bond issuance winning bid yield hits highest since 2007]

The U.S. Treasury issued $46 billion in five-year Treasury bonds, yielding 4.400 percent at the highest level since 2007, and the market yielding at 4.399 percent at the 1 p.m. ET deadline. Investors reacted mutedly to the tender results, with the yield on the 5-year Treasury note down about 2 basis points on the day. Tier 1 dealers were allocated 13.8%, slightly higher than the previous one. The proportion of direct bidders allocated fell to 18.3%, offsetting the increase in the allocation ratio of indirect bidders to 67.9%. The bid multiple was 2.54 times, compared to an average of 2.53 times for the first six times.

[Goldman Sachs sells one of its wealth management businesses, focuses on returning to super-rich clients]

Goldman Sachs reached an agreement to sell its investment advisory business for high-end mass-market clients to Creative Planning LLC, a wealth manager with $240 billion in assets under management. According to the statement, Goldman Sachs agreed to sell about $29 billion in assets in the business, formerly known as United Capital, a registered investment advisory firm that Goldman Sachs bought for $750 million. The sale just four years after the acquisition shows Goldman's intention to refocus on its dominant super-rich segment. Goldman Sachs did not disclose the selling price but said it expected earnings to be recognized when the deal closes.

[Russia is said to consider setting up a unified fertilizer trading company to increase pricing power]

Russia is considering setting up a unified trading company to export fertilizers to increase its pricing influence on the global market, citing sources. According to people familiar with the matter, the idea was proposed by Dmitry Mazepin, founder of the Uralchem Chemical Company in July, and discussed the matter after Russian Prime Minister Mishustin and Minister of Industry and Trade Manturov, but no decision has been made so far, and it is not clear when the proposal will be discussed again.

[OpenAI launches enterprise version of ChatGPT with new privacy protection function and support for long problems]

OpenAI launched the enterprise version of ChatGPT, adding some features and privacy protections. This is the most important move the startup has taken to date to increase revenue and attract more corporate customers. As with chatbot services for individuals, users can also enter questions and receive a written response from ChatGPT on the Enterprise edition. The new tools include unlimited use of OpenAI's most powerful generative AI model, GPT-4, and data encryption to ensure OpenAI does not use customer data to develop technology. The product also allows users to ask longer questions.

[Chevron Australian LNG plant may strike as early as September 7]

Chevron's strike at Australia's liquefied natural export plant could begin as early as Sept. 7, threatening global energy supplies and pushing up fuel prices. Chevron said in an emailed statement on Monday (Aug. 28) that unions have notified that export plants in Gorgon and Wheatstone will begin strike action if Chevron fails to reach an agreement with workers. Chevron said it would continue to move forward with the negotiation process while seeking an outcome that served the interests of both sides. Since early August, the threat of strikes has thrown global gas markets into turmoil. Chevron's two Australian LNG plants account for about 5% of global supply.

[Cryptocurrency giant Binance considers exiting the Russian market]

Cryptocurrency giant Binance is reassessing its operations in Russia, including a possible exit from the once-important market altogether. Although Binance said last year that it had stopped doing business in Russia and imposed Western sanctions requirements that restricted Russian trading on its platform, Binance still assisted Russians in moving funds abroad. Subsequently, Binance took steps to restrict peer-to-peer transactions with sanctioned Russian banks.

This article is from Cai Lian News Agency Xia Junxiong