Friday, September 25, 2026 — SCOTUS lets Trump use SAVE database for voter purges; US tries to revive Russia-Ukraine ceasefire talks; Nasdaq hits high while Dow slides on surging Treasury yields.

US is seeking to revive Russia-Ukraine ceasefire talks. China’s truce with Trump buys Beijing time. If talks actually move, crude $CL.COMM and European risk premia reprice fast. Watch this. Treasury volatility is set for biggest jump in a year as bonds churn. Prediction markets price 84.5% odds Fed upper bound >3.75% after Mar 2027, 83.5% odds Sep CPI >3.5%, but only 29% odds payrolls >125k. That’s stagflation pricing. Nike trades at a 12-year low into Q1 earnings on Oct 1. The issue is China and gross margin. $CAKE tells you whether the consumer is bifurcated or just dead. Good signal if diner traffic holds. TSMC says AI capex keeps climbing and $TSM looks undervalued. But data center power/cooling is the bottleneck — $VRT is the purest read. Appeals court upheld Pentagon designation of Anthropic as supply chain risk. Regulation is coming for AI. BlackBerry $BB beat on QNX strength, sales up y/y, FY27 outlook raised. STAAR Surgical $STAA surges on $50M buyback. EU takes action against

US is seeking to revive Russia-Ukraine ceasefire talks. China’s truce with Trump buys Beijing time. If talks actually move, crude $CL.COMM and European risk premia reprice fast. Watch this.