Key Stories from the past week:

The S&P 500 managed to mark a new all-time high as US GDP revisions surprised on the upside. Other markets were more sanguine with European indices suffering due to the political upheaval in France and Netherlands. Asia was mixed with the Hang Seng giving up early gains by the end of the week. Saxo clients used the pull back in prices to add to positions in companies such as Orsted, ASR Nederland and Palantir. UnitedHeath also attracted buyers as new of Warrant Buffett’s buying was made public. The week saw investors trim positions in JDE Peet and MongoDB as both shares enjoyed spikes higher. More below in Key Stories.

FED Independence
US President Trump moved to oust Fed Governor Lisa Cook over alleged mortgage document falsification. While Cook says she won’t quit and fights her case the clash could open the door for Trump to secure a Fed board majority.
Trump's push for lower rates is on a collision course with bonds

Orsted takes big hit
Ørsted tumbled 16.4% after U.S. authorities halted the Revolution Wind offshore project, underscoring policy risk in renewables.
Trump administration halts Rhode Island offshore wind project

Nvidia Earnings
Nvidia beat on earnings and once again smashed through consensus numbers with revenue +56% YoY. Guidance excluding China weighed on shares with investors mindful of a growth curve that show signs of flattening after two-year AI boom.
Nvidia Earnings: Why isn't the market cheering?

French budget turmoil
France’s Prime Minister facing a vote of confidence on 8 September to back up his budget plan for grappling with France’s excessive deficits – a vote that may fail and keep a political cloud over the country. French equities and government bonds fell as political risk accelerated.
Europe on the edge as the penny of French politics turns up again

Monday 1^st September is Labor Day in US and Canada with markets closed. Next week data highlights bring Eurozone Aug CPI, US Aug ISM Manufacturing PMI (Tuesday). US Jul JOLTS (Wednesday). US Aug ADP employment change, US Aug ISM Non-manufacturing PMI (Thursday). US Aug Nonfarm Payrolls and Unemployment rate (Friday). Corporate earnings to watch for include Zscaler, Nio (Tuesday). Salesforce, Figma, Dollar Tree (Wednesday). Broadcom, Lululemon (Thursday).