Bernstein believes Oracle is in a new high-intensity investment cycle, with its cloud business, especially second-generation cloud infrastructure and AI data centers, driving accelerated growth in revenue, profit, and free cash flow, potentially making it one of the world's top three hyperscale cloud vendors. Cloud infrastructure revenue is projected to reach approximately $18.1 billion in fiscal year 2026, a 77% year-over-year increase, with AI revenue estimated at approximately $6.6 billion. While massive capital expenditures will depress gross margins and create financing needs, the high-margin database, multi-cloud, and enterprise software businesses can partially offset this. Bernstein maintains its "Outperform" rating with a target price of $325. (The above views are from Bernstein's September 2nd report.)

Emergency services say a Ukrainian drone strike on Russia’s Belgorod region has killed one person and injured four others.

Spain's composite PMI came in at 55.8 in August, up from 56.5 in the previous month.

Spain's services PMI for August was 57.8, below the expected 58.9 and the previous reading of 58.3.

Japanese Chief Cabinet Secretary Minoru Kihara: The policies of Prime Minister Sanae Takaichi's government regarding achieving a strong economy and fiscal sustainability remain unchanged.

According to Interfax news agency: The Russian Ministry of Defense stated that Russian troops struck two Ukrainian cargo ships in the Black Sea.