AlphaScala Daily: US PPI at 8:30, NKE cluster buy loudest

Good morning.

Three US inflation prints hit at 8:30, with core PPI and headline PPI landing alongside UK and Canada CPI, so the morning carries real timing risk. Bitcoin slipped under $63K overnight, off about 1%, while gold pushed to $4,378 and the yen firmed to 158.82. On the tape, four Nike insiders bought over the past 30 days for a net $2.17M, the loudest cluster on the board; TSM logged ten buyers but only $45K net. Flywire tops the model at 84, with Kinross and ASML close behind at 79. Here's what matters.

Markets

• USD/JPY 158.82 ▼ -0.44% (US Dollar / Japanese Yen)
• GBP/USD 1.35 ▲ +0.40% (GBP)
• EUR/USD 1.16 ▲ +0.34% (EUR)
• XAU/USD 4,377.9 ▲ +0.61% (Gold)
• BTC/USD 62,878.81 ▼ -0.96% (BTC)
• ETH/USD 1,877.64 ▼ -0.45% (ETH)

Today's calendar

• Canada: CPI m/m
• United States: Core PPI m/m
• United States: PPI m/m
• United Kingdom: CPI y/y

Deal Flow

M&A

• Goldman to Buy Neos Investments for Up to $2.25 Billion (Blockonomi) Goldman Sachs agreed to acquire Neos Investments for up to $2.25 billion, gaining the $1B Bitcoin High Income ETF and other options-based funds. The deal leapfrogs the bank's own…
• Silver Lake in Talks to Buy Workday in Landmark Software Deal (RTE) Workday shares jumped nearly 18% to $206.45 on the news, valuing the software maker near $51.1 billion. The talks are ongoing and a deal is not guaranteed.

IPOs / Listings

• Anthropic shares hit $1.5T on secondary market as IPO nears (BI) Secondary-market valuation hits $1.5T, up 25% in a month, as sellers hold out for the IPO. Buyers are demanding direct cap table exposure, traders say.
• Schouw & Co. Raises Guidance After Strong Q2, BioMar IPO (Manilatimes) Schouw & Co. raised full-year guidance after a strong Q2, with EBITDA rising on higher activity and productivity gains. The BioMar IPO and Spectre acquisition mark a busy first…

Funding Rounds

• Cronje Argues DeFi Is Dead, Proposes 'Onchain Finance' Label (Crypto Briefing) The Yearn Finance founder says modern protocols with teams and upgradeable contracts no longer fit the 'decentralized' label. His Flying Tulip project raised $200M at a $1B…

Headline Roundup

Macro

• Ireland's CPI Holds at 3.4%, Services Keep Heat on ECB (RTE) Sticky services inflation at 3.2% and an 8.1% annual electricity rise leave Ireland's inflation well above the ECB's 2% target, with winter energy risks ahead.
• Historical Data Challenges Automation Job Fears (Econlib) Historical precedent shows automation creates new jobs despite fears. The shift from 98% farm labor to 2% without mass unemployment suggests AI may follow the same pattern.

Stocks

• ASOS Relaunches Magazine to Tackle Styling Pain Point (Retailgazette) ASOS is bringing back its magazine on Substack with Pat McGrath as beauty curator, part of a campaign addressing a research finding that 68% of consumers struggle with styling.
• Monaco proposes MiCA-style crypto license overhaul (Crypto news) Bill No. 1131 would replace Monaco's 2022 crypto rules with CCAF-based licensing, adding governance, prudential and conduct requirements closer to EU MiCA standards.
• Apple Offers Publishers Usage-Based Fees for Siri Content (Pymnts) Apple is in talks for multiyear publisher deals that would pay media companies when Siri uses their content, WSJ reports. The usage-based model differs from flat-fee AI licensing.
• WNBA's Political Brand Collides With Its Biggest Star (Mises) After a week of flagrant fouls, social media posts and a co-owner cursing at teenage fans, the WNBA's political brand collides with its biggest star.
• State GCC policies target 1.18 mn jobs, 1,380 centres by 2031: CBRE (BL) State policies target 1.18 million new GCC jobs and 1,380 centres by 2029-31, with tier-II cities gaining traction, CBRE said.
• SME Trust Gap Risks Stalling Microsoft AI Revenue (Forbes) Microsoft's top SME executive warns data residency questions stall AI procurement, risking consumption-based revenue. Alpha Score 71.
• Tau Robotics Offers Humanoid Robot Cleaner for $30/Hour in San Francisco (Economictimes) Tau Robotics launches invite-only home cleaning service with humanoid robot in San Francisco at $30/hour; waitlist open now for early adopters.
• Burger King Sales Jump 8.5% as Whopper Revamp Outpaces McDonald's (BI) Burger King's US same-store sales rose 8.5% in Q2, while McDonald's grew just 0.8%. The Whopper revamp and value perception shift threaten MCD's dominance. Alpha Score 49.

Crypto

• HashKey, YF Life test HKDAP stablecoin for insurance payments (Crypto news) HashKey Exchange completed a live insurance premium transaction using Hong Kong's first regulated stablecoin HKDAP with YF Life, testing a route that could cut settlement time…
• Chainalysis's $154B Crime Report Has No 343% DeFi Jump (Crypto Daily) Chainalysis counted $154B in illicit crypto inflows for 2025, up 162% from 2024. Stablecoins were 84% of volume; the 343% DeFi figure isn't in the report.
• Bybit opens institutional options data to retail traders in platform revamp (Finbold) Bybit's Options Data revamp brings BVOL volatility index, Max Pain, gamma exposure, and position structure analytics to retail traders. The upgrade targets the gap between…
• Singapore warns on fake-job crypto scams after $11.8M in losses (Cryptopolitan) Singapore police and the Cyber Security Agency warned residents about crypto job scams after victims lost roughly $11.8 million. The advisory targets fake work-from-home gigs that…
• CFTC's August 20 Agenda Puts Crypto Regulation in Focus (AMBCrypto) The CFTC's Aug. 20 committee takes up crypto jurisdiction, enforcement, and market structure. Polymarket traders see 22% chance of ban on sports prediction markets.
• Why Volatility Is Flat Across Crypto and TradFi Despite Open Risks (CoinDesk) Bitcoin's BVIV hit a 2026 low near 36%. The VIX is at its lowest since January. Treasury MOVE index is near the bottom of its range. Gold and oil vol indexes are falling too.
• Fraser Backs Stablecoin Bill, Warns on Reward Threat to Bank Deposits (Crypto news) Citigroup CEO Jane Fraser backs the CLARITY Act on Fox Business but warns stablecoin rewards threaten community bank deposits. Her Sept. 15 Senate vote.
• Data for 13,689 Trezor Clients Exposed in Subcontractor Leak (Cointribune) A shipping subcontractor exposed emails and phone numbers for 11,742 Trezor customers. No recovery phrases leaked; the follow-up is targeted phishing.

Forex / Commodities

• Rupee closes 3 paise higher at 95.42 on dollar weakness (Hindu) Rupee gained 3 paise to 95.42 against the dollar as the greenback weakened. Analysts see a 95.10-95.80 range with crude and the dollar as key triggers.
• Coeur Mining Just Topped $1B Revenue. The Question Is Sustainability (Insidermonkey) Coeur posted $1.04B revenue for the first time. The SilverCrest acquisition is performing, but Rochester costs remain sticky. The stock's leverage to silver is real.
• Dollar Steady After July CPI Prints 3.4%; Pound Tests $1.35 (FXEmpire) July core and headline inflation matched forecasts, lifting CME FedWatch odds of a September hold to 64%. UK data and Fed minutes are next for cable.
• Nifty Holds 24,300 After 4-Day Slide; Bulls Eye 24,450 (BL) Nifty at 24,341.65, down 54.20 points for a fourth straight session; SBI Securities flags support at 24,240 and a breakout above 24,450 as the next trigger.
• Michelin's New Vietnam Tires Target Hybrid and EV Drivers (Manilatimes) The Primacy 5 Energy and Pilot Sport 5 Energy add 50 sizes at Michelin dealers across Vietnam, with EU label grades up to AAA for efficiency and wet grip.

Smart Money

• Christian D. Menefee (D-TX): SALE PINS
• Michael Rulli (R-OH): SALE CCI
• Kevin Hern (R-OK): SALE CMCSA
• Kevin Hern (R-OK): SALE DEO
• Insider cluster: TSM: 10 insiders bought in last 30 days, net $45K (90d)
• Insider cluster: NKE: 4 insiders bought in last 30 days, net $2.17M (90d)
• Insider cluster: SPG: 3 insiders bought in last 30 days, net $139K (90d)

On the Radar

• Alpha Score top: FLYW (Flywire Corp), Alpha Score 84/100, top of AlphaScala model. Alpha Score of 84 reflects strong overall profile with strong momentum, strong value, moderate quality, strong sentiment.
• Alpha Score top: KGC (KINROSS GOLD CORP), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
• Alpha Score top: ASML (ASML Holding N.V.), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, moderate value, strong quality, strong sentiment.
• Alpha Score bottom: BJGPY (Beijing Geekplus Technology Co., Ltd./ADR), Alpha Score 0/100, bottom of AlphaScala model
• Alpha Score bottom: AZULQ (AZUL SA), Alpha Score 0/100, bottom of AlphaScala model
• COT extreme: Canadian Dollar (CAD): hedge funds net short 179,095 contracts, 49.1% of open interest
• COT extreme: New Zealand Dollar (NZD): hedge funds net short 41,203 contracts, 40.4% of open interest
• COT extreme: Mexican Peso (MXN): hedge funds net long 76,543 contracts, 35.2% of open interest

This Week's Briefings

• Sp500: SPY gains 2% as Nasdaq leads; gold jumps 7%; insider buys MSFT
• Nasdaq: Nasdaq 100 adds 3.3% as NVDA scores 76; QQQ outruns SPY by 120bp
• Crypto: Crypto decouples as QQQ slides 2.3%; ETH leads majors with 3.9% weekly gain
• Forex: Pound gains 0.79% vs dollar; yen shorts hit 35.9% open interest
• Oil: Oil data absent; SPY slips 0.8%, QQQ drops 2.3% on the week

Back Monday before the bell.