Friday, September 4: Lululemon eighteen. Payrolls at eight-thirty. Hugging Face signed.

The Triple Tape — Friday, September 4, 2026 Payrolls morning. Lululemon crushed ~18% after a guide cut. Nvidia signed Hugging Face (~$12.9B). Privacy coins ripping; quiet metals into NFP. CRYPTO • ASIC: unlicensed crypto firms — AFS license by Sep 30 or fines up to 10% turnover • CFTC asks judge to dismiss CME suit over crypto perpetual futures • SoFi–Kraken: SEN rails, SoFiUSD listing, Kraken Prime liquidity • Standard Chartered institutional spot BTC/ETH on Dubai FX rails • Coinbase files Form 1-N / BD-N for US single-stock perpetual futures (not approval) Tape (CMC ~5:05 a.m. ET): PONS $0.674 +29.17% · DASH $53.81 +26.56% · ZEC $1,012 +22.22% Majors color: BTC $81,163 +4.35% · ETH $2,530 +5.37% STOCKS • Nvidia definitive ~$12.9B Hugging Face (close 1H 2027) • AbbVie completes Apogee ~$10.9B • Flex–EPC Power $4.4B; CPI spin targeted Q1 2027 • HUTCHMED–GSK HMPL-A830 ($110M upfront / up to ~$1.3B) • Adobe: Chakravarthy CEO Dec 1; Narayen → executive chair Earnings printed: Lululemon, Zscaler, Docusign (also IOT/PATH/GWRE/ASAN/PL AMC) Tape: LULU −18.4% · PATH −10.1% · IOT +12.0% METALS • WGC: CBs +23 t July (China 20 / Poland 8); BOK first gold in 13 yrs; Venezuela BoE gold request • Implats FY2026: net R31.04 bn; ~R17.1 bn dividends • SHFE Cu warrants Sep 3: 27,558 t (−1,959) • LME Cu stocks Sep 3: 234,650 t (+800) • US July refined Cu+alloy imports record 225,094 mt Tape (Kitco ~5:06 a.m. ET): Cu $6.53/lb −0.58% · Pd $1,394 −0.50% · Pt $1,812 −0.28% CALENDAR (ET) 8:30 Employment Situation (August) — prior July NFP −23k / U 4.1%; street ~+55–58k Thu: Claims 206k · Trade deficit $88.6B · ISM Services 55.4 (emp 47.8, prices 72.6) · Waller lean hold if CPI cools Mon Labor Day · CPI Fri Sep 11 · FOMC Sep 15–16 Takeaway: Payrolls at 8:30 — last big labor print before the September Fed — with LULU crushed and Hugging Face signed overnight. Voice: xAI lumen. No trade recommendations.