Morrow does not try to cover every headline. We focus on the stories most likely to help you understand what is happening in money and markets.
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UK economics
UK growth revised up, but the figure describes spring
On 30 September, the ONS revised UK growth for April-June 2026 to 0.5%, from 0.4%. This is an updated estimate of an earlier quarter, rather than evidence of a sudden acceleration this week.
Why it matters
GDP revisions can change how people judge economic momentum. They also show why one preliminary number should not be treated as a precise measurement of the economy.
Understand next
Watch the next releases and distinguish quarterly growth, annual growth and GDP per person.
Micron's record quarter highlights AI demand and investment risk
Micron reported Q4 FY2026 revenue of $54.23bn on 30 September, alongside $43.97bn of operating cash flow. Strong AI-memory demand supports its outlook, while expanded capacity requires substantial spending.
Why it matters
A supplier can benefit from AI investment without selling consumer AI products. The financial question is whether demand and pricing remain durable as producers add supply.
Understand next
Compare deliveries, memory pricing and capital expenditure with cash generation; a strong quarter does not establish future returns.
On 1 October, Nike reported Q1 FY2027 revenue of $11.2bn, down 4% on a reported basis. Gross margin improved to 42.8%, but NIKE Direct revenue fell 8% and management expects a high-single-digit full-year revenue decline.
Why it matters
A famous brand can remain profitable while losing sales. Cost improvements and restructuring should be assessed separately from evidence that customers are returning.
Understand next
Watch demand in China, direct-sales trends and restructuring costs rather than treating planned savings as completed improvements.
AI enthusiasm lifts global shares, but bond yields still matter
Global shares recorded their strongest week since August as enthusiasm around artificial-intelligence investment improved risk appetite and oil prices eased. Government bond yields remained elevated, so the cost of money continued to pull against higher equity valuations.
The flash S&P Global UK Composite PMI fell from 52.5 in August to 51.7 in September. A reading above 50 still indicates expansion, but businesses also reported faster cost pressures and subdued hiring confidence.
Costco sales rise as shoppers keep prioritising essentials
Costco reported fourth-quarter net sales of $93.9bn, up 11.2% year on year, and diluted earnings per share of $6.75. Demand remained resilient as consumers looked for value in groceries and other everyday purchases.
AI-linked shares fall as industry leaders urge a slower pace
Technology shares came under pressure after senior AI executives called for a slower approach to the technology's development. Investors reassessed whether safety concerns could change the pace of spending and commercial adoption, but one difficult trading session does not establish the industry's long-term direction.
Oil rises above $108 after a Saudi pipeline disruption
Oil prices moved above $108 a barrel after a drone attack disrupted Saudi Arabia's East-West pipeline and wider supply concerns persisted. Prices can change quickly as traders receive new information about repairs, shipping and diplomatic developments.
A European exchange merger idea returns—but no talks are under way
Shares in Euronext and Deutsche Börse rose after Euronext's chief executive said he was open to a possible combination. The companies were not reported to be in active talks, and any proposal would face commercial, political and regulatory questions.
Oil approaches $100 as supply fears unsettle markets
Oil prices rose after attacks on Saudi energy facilities intensified concern about Middle East supplies. Global shares slipped as investors considered how higher energy costs could add to inflation pressure.
Software shares fall as investors reassess AI disruption
Several large US software companies declined as investors reconsidered how quickly new AI tools could change demand for established products. Semiconductor shares moved differently after fresh data-centre chip announcements.
The yen reaches a seven-month high as rate expectations shift
Japan's currency strengthened as economic growth and real-wage data increased expectations of further Bank of Japan rate rises. The move came while investors were also watching Chinese trade and record copper prices.
Oil, bond yields and AI demand are pulling markets in different directions
Oil eased after recent gains while several Asian share markets rose, helped by continued optimism around demand for artificial-intelligence infrastructure. Government borrowing costs remain an important counterweight for investors.
The Japanese yen strengthens as rate expectations change
The yen rose after investors increased their expectations that the Bank of Japan could raise interest rates. Currency markets also remain focused on upcoming United States employment data.
Gold rises before a closely watched US jobs report
Gold prices increased as the US dollar and government bond yields eased. Investors are watching employment figures for clues about what the Federal Reserve may do with interest rates next.
US shares recover while investors keep watching oil and bond yields
Major US indexes finished higher after a difficult start to September. Technology shares helped the recovery, while higher oil prices and borrowing costs remained important risks for investors.
Snowflake raises its outlook as demand for cloud and AI tools grows
Snowflake reported stronger product revenue than analysts expected and raised its annual forecast. Its shares rose sharply after the update, reflecting investor enthusiasm about demand for its data and AI products.
IonQ is working to turn quantum computing, networking and sensing into commercial products. Its rapid growth and high uncertainty make it a useful company for understanding both the potential and the risk of an emerging technology.
Higher rates can make borrowing more expensive and future company profits less valuable today. That can put pressure on share prices, especially for expensive growth companies.