Markets Steady as Volkswagen Approves 50,000 Job Cuts

Global financial markets remained steady on September 4, 2026, as investors awaited the U.S. August nonfarm payrolls report. Market participants are weighing whether employment data, with economists estimating an increase between 55,000 and 65,000, will justify the Federal Reserve System holding interest rates unchanged in September. Sentiment was recently bolstered by Governor Christopher Waller, who suggested a preference for holding rates if disinflation continues.

In the automotive sector, Volkswagen Group shares surged nearly 10% after its supervisory board approved a restructuring plan involving 50,000 job cuts. Conversely, Tesla shares declined following a closed-door Cybercab launch event that failed to generate significant market interest.

Activity in the AI sector drove gains for SoftBank Group following the launch of OpenAI's Astra model. Additionally, Anthropic expanded its revolving credit facility to $15 billion in preparation for a planned public IPO filing.