A U.S. federal judge delivered a ruling in the Google ad technology antitrust case, denying the Justice Department's request to partition Google's ad tech operations.

ChainCatcher describes the decision as a setback for the DOJ's proposed remedy in the litigation.

A Northern Virginia county in the Data Center Alley has advanced a proposal to pause the review of new data center and substation permit applications for up to 12 months, Bloomberg reported.

The move follows a wave of similar moratoriums taking shape in other parts of the United States.

Prime Minister Mark Carney of Canada is convening a group of leading global investors in Toronto on Monday night and Tuesday as he seeks to attract more capital into the country, reduce reliance on the United States, and diversify its markets, according to Bloomberg.

Bloomberg journalist Melissa Shin discussed the summit on Bloomberg Deals.

A syndicate of ten banks has arranged a $22 billion loan facility to support Blackstone Inc. and Alphabet Inc.'s joint cloud venture, Crux AI, Bloomberg reported.

The financing underscores continued use of mega-debt to fund the AI processing hardware required for such ventures.

The Houthis, citing Wallstreetcn, said they shot down a Saudi F-15 fighter over Marib Province in northeastern Yemen with a homemade surface-to-air missile as it carried out hostile actions.

They also claimed that two groups of Saudi F-15 and Typhoon fighters entered Marib airspace to search for wreckage, but further fire from Houthi defenses forced them to withdraw.

The Federal Reserve is set to publish its policy decision at 2:00 p.m. ET, followed by a press conference by Chair Kevin Warsh about 30 minutes later. Market-based measures imply roughly a 90% probability of a 25 basis-point hike, lifting the target range to 3.75%–4.00%. A Reuters poll of 101 economists showed 86 expect that move.

The disagreement centers on the implications rather than the act itself. Bank of America is the most hawkish among major lenders, signaling 75 basis points of hikes. Three institutions project two hikes this year, with JPMorgan, Morgan Stanley, HSBC and Barclays all calling for 25 basis points in September and December. Morgan Stanley points to a slower disinflation pace, AI-led demand, a second wave of energy price effects, and the need to preserve policy credibility.

Barclays had previously projected no change this year and adjusted its view after Warsh’s Jackson Hole speech, in the weeks before inflation data confirmed the case for tightening. Bank of America sits furthest out, envisioning rate increases in September, October and December for a total of 75 basis points, arguing that credibility would be hurt if the Fed stays on hold when markets have priced in hikes and long-term yields could move higher.

Goldman Sachs and Citigroup frame the decision as calibration rather than the start of a tightening cycle. Goldman expects a hike with no clear signal of continued tightening, with Warsh likely emphasizing data dependence; the firm still expects a rate cut once each in September and December 2027. Citi expects a pause after this hike, with rate cuts resuming in June 2027, and anticipates a largely unanimous vote or at most two dissents; Warsh may describe the action as calibration rather than the start of a cycle.

BlackRock strategist Gargi Pal Chaudhuri represents the minority view that policy should hold. She argues underlying inflation is cooling and the Fed should keep the policy rate in the 3.50%–3.75% range. If a hike occurs, she says investors should focus on how Warsh explains the threshold for the next move and whether higher oil prices have altered the policy-response mechanism. The energy shock remains a question both inflationary and contractionary, and the handling of supply-driven inflation will influence whether this becomes a cycle.

Risk Dimensions CIO Mark Connors described another hike as like using a pitchfork to bail out inflation. JPMorgan has modeled three market outcomes. A standard hike with modest hawkish wording would lift the S&P 500 about 0.25% to 1%. An unexpected hold could push longer-run inflation expectations and Treasuries higher, with the S&P falling roughly 1.25% to 1.75%. If Warsh signals higher rates to a substantially higher level, the S&P may drop 1% to 2%. The downside outcomes are generally larger than the upside, and a hold is often the least hawkish outcome the market fears.

The dot plot remains central to the discussion. Most institutions expect a 25-basis-point move, but the debate is whether it reflects an independent adjustment or the start of a new cycle. In this view, the dot plot, voting results and Warsh remarks may carry more weight than the outright rate move. Brookings senior fellow Robin Brooks warned that markets should not expect a perfect match to priced-in hikes, suggesting the press conference may disappoint and that the dollar could weaken while long yields rise.

Warsh’s stance is complicated by his rejection of forward guidance at Jackson Hole, which removes a straightforward mechanism to adjust the path markets have priced in. Projections become the signal rather than explicit policy guidance, which could define the outcome depending on how it is read. Citi’s call for a near-unanimous vote also matters, since the absence of dissents would reinforce the dot plot’s message.

On the crypto side, Bitcoin traded just above 76,000 dollars after the Clarity Act failed to clear Senate cloture 49–50. Talos recorded a 28% net buying tilt toward stablecoins ahead of the meeting, versus an 8% average selling tilt around prior FOMC events. Spot Bitcoin ETFs posted about 450 million dollars in outflows on Tuesday, with more than 570 million in leveraged futures liquidated. Bitcoin’s correlations have become more volatile, complicating readings of market reactions. Data show its short-term link to the S&P 500 at 0.43, versus 0.75 previously, and the Dollar Index at +0.08 against −0.54 over 30 days. As a result, JPMorgan’s equity scenarios translate into Bitcoin movements less than usual.

SEC Chairman Paul Atkins said the United States must preserve its leadership in technology and thanked lawmakers, investors and industry players for backing the CLARITY Act. He emphasized that even if the bill does not pass, the SEC will exercise its statutory authority to provide regulatory clarity for US investors and technology leaders, and asked markets to stay tuned for further updates.

His remarks came two days after the Senate failed to invoke cloture on the CLARITY Act, with a 49-50 vote that left the bill 11 votes short of the 60 needed to proceed to debate. The opposition included several Republicans and some Democrats who had negotiated the text. The central point of contention was ethics safeguards intended to bar senior officials from crypto business interests, rather than the market structure framework the industry sought.

The move reduces one source of uncertainty for traders after a period when bitcoin-related products faced outflows and major crypto firms traded lower in response to the vote. Bitcoin hovered above 76,000 dollars after a drop of about 3 percent, while XRP fell 10 percent to 1.30 and Stellar declined about 9.6 percent.

Industry figures had already signaled that regulators could advance rules under existing law, with the SEC, CFTC and Treasury potential accelerants even without CLARITY. Industry voices including Michael Saylor and Mike Novogratz indicated support for continued rulemaking, while recognizing that formal codification by Congress would enhance long term confidence.

Rulemaking under existing authority can be reversed by a future administration, whereas rules enacted through statute are more durable. This summarizes a core policy issue behind pursuing CLARITY. The SEC has been developing its Reg Crypto framework and rules for tokenized securities and submitted a custody rule to the Office of Management and Budget in August, steps that push practical results forward without altering the fundamental legal framework.

Senator Elissa Slotkin noted concerns about staffing at the CFTC, a view that applies to agencies building and enforcing their own frameworks as well as implementing a statute.

Stay tuned in market terms may signal upcoming deliverables such as the crypto and tokenized securities rules, with the custody rule currently at the OMB. Some analysts argue that the timing of agency action could push product launches and tokenization work into 2027 and 2028, depending on the path chosen by the authorities.

The market response saw bitcoin near 76,000, XRP at 1.30 and Stellar down about 9.6%. Crypto equities were hit harder: Coinbase fell about 9% to 174.42, Circle shed more than 9% to 88.26, Galaxy Digital dropped roughly 8% and Gemini declined about 7%.

Industry political action committees, including Fairshake, must decide how to treat senators who voted against the bill ahead of a January 2027 convening of Congress with expected split control.

U.S. markets are bracing for the Federal Reserve’s first rate hike since 2023, a move widely expected per Bloomberg.

Retail sales rose as consumers continued to spend.

Meta is pursuing AI oversight, OpenAI is eyeing a $1.2 trillion valuation, and Circle chief executive Jeremy Allaire says the Clarity Act could still become law despite its Senate setback.

Starbucks is weighing a sale of a majority stake in its Japanese business in a potential deal that could value the unit at around $3 billion, according to CNBC. The company has engaged several financial advisers and a formal process could begin in the fourth quarter.

The Japan operations comprise 1,883 stores and accounted for about 9% of Starbucks' global footprint as of September 2025.

Starbucks took full control of its Japan arm in 2014 for about $914 million, and the business has grown from roughly 1,050 stores to 1,883 outlets as of September 2025.

Amazon says the minimum hourly pay for eligible full-time U.S. operations workers will increase by $1 to $20.

In addition, the company introduced Day 1 Financial, a new benefit that provides qualified employees and their families lifetime access to low-cost banking services through First Tech Federal Credit Union.

Amazon projects that when the value of its benefits is included, average total compensation will exceed $32 per hour.

The company notes existing offerings such as healthcare coverage with minimal weekly costs, a free Prime membership, and prepaid education programs.