Six months after the Iran conflict began, energy prices jumped, with Brent crude briefly rising above $120 a barrel and averaging around $90 in 2026 versus roughly $70 in 2025. Disruptions to Gulf output and shipping through the Strait of Hormuz weighed on the region, with Saudi exports down 10% from the first to the second quarter. Global equities held up as AI-linked investment supported risk assets, pushing the MSCI World index’s valuation to about $105 trillion this month and adding almost $7 trillion since the conflict began. Traditional safe havens such as Treasuries and gold drew less consistent demand, while fertiliser and agricultural supply chains faced disruption and renewed inflation concerns, according to Reuters.

Goldman Sachs said surging sugar prices could lift input costs for consumer goods companies, with Britannia Industries the most exposed among the firms it covers. Nestle India and Varun Beverages may also face pressure, though the brokerage expects the impact to be more manageable. Sugar prices have risen 10% over the past month to a record high as global supply tightens, including more Brazilian cane being diverted to ethanol and lower output in Thailand and the EU. Analysts expect prices to stay elevated for at least the next three months.

In August, Indian-market promoters and private equity funds together sold shares worth nearly ₹58,000 crore. PE/VC exits rose fivefold month on month to ₹18,095 crore, the highest level since 2026, while promoter sales totalled ₹12,440 crore. The five largest PE exits and the three largest promoter sell-downs each made up about 70% of their respective category totals. Over the same period, the Nifty 500 posted its third straight monthly gain.

U.S. inflation as measured by the personal consumption expenditures price index rose to 3.7% year on year in July, up from 3.6% a month earlier, while core PCE held at 3.3%. After the release, market pricing for a September Federal Reserve rate increase firmed as traders raised their bets. Fed Chairman Kevin Warsh has pledged to curb inflation but has offered no clear signal on the interest-rate path.

U.S. stocks opened lower on Wednesday after inflation data came in hotter than expected, reinforcing expectations of another Federal Reserve rate hike this year. The Dow, S&P 500 and Nasdaq all slipped at the open. Investors are awaiting Nvidia’s earnings for fresh clues on AI demand and the tech-led rally.

India’s average retail sugar price rose for a second straight day, reaching Rs 65.05 per kg on August 26 amid stronger festive demand. Retail prices remain elevated even after ex-mill rates fell nearly 20% following the government’s decision to allow imports of 10 lakh tonnes of raw sugar and steps to curb speculation and hoarding. The average retail price is 34% above Rs 48.68 per kg a month ago and 41% higher than Rs 46.27 per kg a year earlier, according to the Department of Consumer Affairs’ Price Monitoring Division. Food Secretary Sanjeev Chopra said ex-mill prices had declined 18% to Rs 55 per kg.

The dollar traded in a narrow band in Asian markets as investors waited for U.S. PCE inflation data and the Jackson Hole symposium. Brent crude fell 2.1% to $86.68 after Iran said it had restarted talks with Oman on managing the Strait of Hormuz. The Australian dollar rose 0.1% after inflation data came in above expectations, while the New Zealand dollar slipped ahead of its central bank’s rate decision. The euro and sterling were little changed.

Spot gold was little changed at $4,654.17 an ounce after touching a more than three-month high, while US gold futures rose 0.4% to $4,711.40. Markets are focused on upcoming US inflation data for clues on the Federal Reserve’s interest-rate path, with traders pricing a 60.4% chance of no change next month, according to the CME FedWatch Tool. Spot silver rose 0.2% to $68.80, platinum added 0.1% to $1,858.91 and palladium climbed 1.1% to $1,341.23.

Nvidia is rolling out its next-generation Rubin platform as scrutiny intensifies over how AI infrastructure is being financed. The company recently helped arrange $500 billion in funding, prompting concerns that “circular deals” could inflate demand. Nvidia shares have also trailed key rivals this year and briefly ceded its position as the world’s most valuable company.