The Indian rupee closed essentially unchanged on Monday, with the central bank supporting the currency through dollar sales. Brent crude rose to $96.6 a barrel, and Goldman Sachs warned prices could reach $120 if attacks on shipping escalate, adding to pressure on India’s current account. After strong U.S. jobs data, markets priced about a 57% chance of a Federal Reserve rate hike this month, while the dollar index eased to 98.9 and Asian currencies were mixed.

Oracle is set to report earnings as investors focus on the expansion of its AI cloud business. The company has guided for 27%-29% total revenue growth in fiscal Q1 2027, with cloud revenue expected to rise 58%-64% and quarterly cloud revenue potentially reaching $11.6 billion as the main driver. Remaining performance obligations have surged to $638 billion, underscoring strong demand for AI infrastructure. In fiscal 2026, operating cash flow was $32 billion, but $55.7 billion in capital spending left free cash flow at about -$23.7 billion.

The Reserve Bank of India has approved Life Insurance Corporation of India to increase its holding in ICICI Bank to as much as 9.99% within one year. LIC already owns a little over 4% of the private lender. The approval takes effect from a September 4 letter and will lapse automatically if the stake is not acquired within the period.

Foreign investors returned to Indian equities in August, with net FPI inflows exceeding $3.2 billion, the strongest monthly inflow since September 2024, led by Consumer Services, Financials and Healthcare. HSBC estimates that if global funds move back to a neutral allocation, as much as $25 billion could flow into India. Supportive factors include Q1 GDP growth of 7.8%, better-than-expected corporate earnings and a stable rupee, which could help sustain foreign inflows.

Asian wheat importers have bought at least 500,000 tons from Argentina and Australia to replace delayed Black Sea cargoes. Australian Premium White wheat has traded around $315$330 per ton and Argentine wheat around $310$315 per ton, well above the $260 to $280 per ton seen for Black Sea cargoes. Benchmark Chicago wheat futures have risen about 35% since late June, while cash prices have climbed across competing exporters. Asian processors have booked about 2.0 million to 2.5 million tons of Black Sea wheat for July-September shipment, covering roughly 30% to 50% of import demand.

U.S. employers added 162,000 jobs in August, far above the 56,000 economists expected, while the unemployment rate held at 4.1%. Annual wage growth slowed to 3.1%, the weakest since June 2021. The stronger jobs report lifted expectations of a Federal Reserve rate increase in September, sending the dollar higher before it pared gains. Bitcoin fell 2.32% to $79,595.

Lululemon cut its full-year sales forecast for a second time this year, as sales in its core leggings category fell about 20% in the second quarter amid a shift toward looser fits. The shares sank about 20% in a single session to around $100, near levels last seen in 2018, wiping roughly $2.5 billion from its market value, according to Reuters. Incoming CEO Heidi O’Neill is set to start on September 8, with rivals Alo and Vuori continuing to gain ground in athleisure.

Campbell’s said fourth-quarter net sales fell more than expected and it issued a weaker-than-expected outlook for annual profit and sales. The company cut its quarterly dividend by more than a third to prioritize debt reduction and is targeting about $500 million in cost savings by fiscal 2030 after closing some plants and reducing headcount. With lower-income shoppers shifting to cheaper brands and store labels, Campbell’s has implemented average price increases of 4% to 5% across roughly 60% of its portfolio.

Dell Technologies’ shares jumped after its earnings report as the company posted a record $95 billion backlog for AI servers. Dell also raised its full-year revenue and profit guidance. The update underscores strong demand for data-center AI infrastructure and strengthens Dell’s position in the market.