Bloomberg News Now: Stock Market Gains, TikTok Deal, and Inflation Data

Market Performance and Inflation Data

• 📈 The S&P 500 gained 39 points, NASDAQ 99 points, and the Dow 300 points on Friday.
• 📊 The ten-year Treasury yield closed at 4.17%, and the two-year yield at 3.64%.
• 💡 Traders reacted to fresh inflation data, with personal spending rising more than forecast and underlying inflationary pressures holding steady at 2.9%.
• 🗣️ Former St. Louis Fed president Jim Bullard believes the central bank can look past current inflation and expects further rate cuts.

TikTok Deal and Political Oversight

• 🤝 Sources indicate ByteDance will likely receive about half the profit from TikTok's U.S. operations after selling to American investors led by Oracle.
• 💰 Oracle's $2 billion fee for hosting the app and storing data will be converted into a cost post-acquisition.
• 🧐 Representative John Moolenaar has requested an urgent briefing from the White House on the TikTok deal, marking the first congressional oversight effort.
• ⚠️ The White House has valued the U.S. version of TikTok at approximately $14 billion, a figure some analysts consider low.

Political Developments and Defense

• 🏛️ President Trump blamed Democrats for a potential government shutdown, with a deadline of October 1st.
• ⚖️ The President expressed hope for more indictments of his political opponents, criticizing the Justice Department's actions.
• 🎤 Defense Secretary Pete Hegseth has summoned hundreds of top military officials to Virginia for a speech on military standards, with attendees anticipating potential firings or demotions.

International Relations and Consumer Sentiment

• 🌍 The United Nations will re-impose broad sanctions on Iran after diplomatic efforts failed to resolve a standoff over Tehran's nuclear program.
• 📉 Consumer sentiment fell in September to a four-month low due to concerns about high prices impacting personal finances.
• 😟 Consumers anticipate a 4.7% annual inflation rate over the next year and 44% believe high prices are eroding their finances.

Tech and Media Updates

• 📱 Apple is developing a GPT-like iPhone app, codenamed Veritas, to prepare for an overhaul of Siri expected in March.
• 📺 Sinclair has decided to return Jimmy Kimmel Live to the air on its ABC affiliate stations after a previous suspension.
• ⛳ The Ryder Cup is underway at Bethpage Black, with the U.S. leading in two of the four initial matchups.