Good morning investors! US-Iran tensions continue as focus is now on the big US job report due today.
Today we cover:
Jobless claims rise
Lululemon fails to impress
Zscaler beat expectations
📊 Economy and News
US Jobless Claims Rise Slightly as Labor Market Remains Stable
U.S. unemployment claims rose by 2,000 to 206,000 in the week ending August 29, broadly in line with expectations.
The data suggest the labor market remains stable but subdued, with employers hiring cautiously while layoffs remain relatively low. Continuing unemployment claims increased to 1.779 million, indicating that people who lose jobs may be taking longer to find new work.
Attention now turns to Friday’s jobs report, with economists expecting 56,000 new jobs in August and unemployment holding at 4.1%.
Global hits:
Canada 10-year yield slips as global bond markets recover.
India’s services growth picks up in August but stays near four-year low.
Canada July trade surplus shrinks, US exports drop.
Reminder: US fixed 30-year mortgage rate rises to highest since July 2025. In other news, US trade deficit widens to $88.6 billion in July. Lastly, automakers urge Congress to permanently ban Chinese connected vehicles in U.S..
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📈 Stocks
S&P 500 7,747.71 (+1.06%)
DJIA 53,686.11 (+1.18%)
NASDAQ 26,584.06 (+1.41%)
BRENT CRUDE 95.52 (-0.37%)
* Prices as of Sep 4th, 12:20 AM UTC
Lululemon Gives Another Poor Report
Lululemon posted another quarter of disappointing earnings results and sales slowdown as the company struggles to turn its business around.
The retailer said its comparable sales sank 9% during the second fiscal quarter. For the third fiscal quarter, Lululemon said it expects revenue to be between $2.29 billion and $2.32 billion, a decline of roughly 10% to 11% from the prior year. It anticipates earnings of 93 cents to 98 cents per share for the period.
For the full year, Lululemon said it expects net revenue between $10.35 billion and $10.5 billion, representing a 5% to 7% decline, and down from its previous guidance of $11 billion to $11.15 billion.
It anticipates earnings will be between $9.48 and $9.73 per share, compared to previous guidance of $10.95 to $11.15 per share. That new outlook includes a boost from tariff refunds, Lululemon added. The disappointing report upset investors sending the stock down nearly 19%.
Interesting: Revolut wins conditional US banking license.
Xbox Game Pass subscribers will face monthly cloud gaming time limits starting in November.
France starts tests on Tesla’s self-driving tech.
Surprising: U.S. preparing new, ‘targeted’ tariffs on semiconductors. In other news, OpenAI begins rolling out Astra model after warning of its advanced cyber capabilities. Lastly, Adobe names Anil Chakravarthy as CEO, replacing Shantanu Narayen.
Zscaler beat Wall Street’s fiscal fourth-quarter estimates. CEO Jay Chaudhry highlighted the adoption of the company’s Zero Trust cloud security architecture and innovative technology as driving forces behind the quarterly beat. Zscaler shares have dropped 20% this year as cyber peers notched new highs.
💵 Personal Finance
Here’s a shortened, polished version with the key figures and takeaway preserved:
Retirement account balances reached record highs in the second quarter of 2026, helped by stock market gains and steady contributions, according to Fidelity Investments.
The average 401(k) balance rose 13.1% year over year to $155,800, while the average IRA balance increased 10% to $144,523.
Consistent saving also supported the growth. The average combined employee and employer 401(k) contribution rate held at 14.4%, close to Fidelity’s recommended 15% benchmark.
However, the report also revealed growing signs of financial pressure. Nearly 19.5% of workers had an outstanding 401(k) loan, while 2.8% took out a new loan during the second quarter. Hardship withdrawals also increased to 3% from 2.6% a year earlier.
Financial advisers warn that using retirement accounts for short-term expenses can undermine long-term wealth building. Loans and withdrawals reduce the amount of money available to benefit from compound growth and may encourage savers to repeatedly dip into their retirement funds.
While strong market performance can quickly lift retirement balances, relying on investment gains alone is risky. Building an emergency fund and avoiding unnecessary withdrawals can help investors preserve the long-term compounding power of their retirement savings.
💰 Be a Better Investor
“The chance that a No. 1 fund in the past 10 years will repeat as No. 1 in the next 10 years is essentially zero.”
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