The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1515 ET [Dow Jones]--Five data center companies who got their start in the cryptocurrency mining business are set up for "rapid growth," UBS analysts write in a note, initiating coverage of the stocks with buy ratings. The companies -- Hut 8, TeraWulf, Core Scientific, Cipher Digital, and Applied Digital -- already have connections to power grids that will prove increasingly valuable, given that "time to power is the key factor in data center development," the analysts write. "They occupy the enviable position of right place, right time with the skills and assets to supply crucial inputs in the largest infrastructure spending project in history." (elias.schisgall@wsj.com)

1312 ET - August saw housing inventory in New York state grow, while pending and closed sales both saw a decline, the New York State Association of Realtors says in a report. New listing were up 5.1% year-over-year to 13,640 homes from 12,981 in August 2025. The number of homes for sale in the month was up 8% from August 2025, at 34,037. Pending sales fell 4% from the year ago period, to 9,837 homes from 10,247 in August 2025. Closed sales dropped 1.8% in August from August 2025, to 10,673 homes. The statewide average sales price rose 6.3% in August, to $633,578 from $596,215 in August of last year, the group says. (stephen.nakrosis@wsj.com)

1246 ET - Bitcoin has moved above the cost bases that held it back earlier in the year and remains elevated thanks in part to a pullback in profit-taking, Glassnode analysts say in a note. The current price range between $84,000 and $85,000 has Bitcoin sitting just above a large block of long-term holder supply, the analysts say. Profit taking is a fraction of what it was when the flagship cryptocurrency was at its 2024 and 2025 highs, even though almost all short-term holders are currently in profit, they say. Bitcoin ETF buying is also picking up, while spot volume has more than doubled from its August low, the analysts say. (dean.seal@wsj.com)

1236 ET - Bitcoin might have more fuel left in the tank to add to its recent gains, says Frederik Theissen of Glassnode in a note. Theissen points to open interest in bitcoin options, which according to data from Deribit shows that call options are building for options at strike prices ranging from $91,000 to $102,000. Trader behavior appears to be signaling that investors are holding onto bitcoin, seemingly expecting further gains ahead. "Profit taking is a fraction of what it was at the 2024-2025 tops, even though almost all short-term holders are in profit," says Theissen. Bitcoin is down 2.6% to $83,985, while ethereum falls 3.4% to $2,657, XRP is down 4.2% to $1.51, and solana is down 2.8% to $114.66. (kirk.maltais@wsj.com)

1134 ET -- Gulf non-oil activity is recovering toward prewar levels as businesses adapt their supply chains to regional disruption, S&P Global Market Intelligence says. Aggregate activity across the G.C.C. economies covered by its PMI surveys expanded in August at a pace only just below February's prewar level, as new orders rose sharply and business confidence reached a six-month high. Supplier delivery times also improved for a fourth consecutive month amid better logistics, material availability and greater use of local suppliers. Non-oil activity growth reached a seven-month high in Saudi Arabia and a six-month high in the U.A.E., while output in Qatar contracted further, S&P says. (farhan.rafid@wsj.com)

0938 ET - Abu Dhabi leads major Gulf stocks higher, with its benchmark index gaining 0.4%. Qatar's QE Index rises 0.3% and the Dubai Financial Market General Index adds 0.2%, while Saudi Arabia is closed for National Day. U.A.E. trading remains selective, with investors looking for stronger volume confirmation, Dubai-based financial-services firm BHM Capital says. Banks have been among the stronger performers in recent sessions, while Dubai's recently revised index weights have increased the influence of major banking and real-estate stocks, the firm says. Dubai's benchmark closes above 6,000 points for the first time since early August. (farhan.rafid@wsj.com)

0905 ET - European banking industry regulation looks unlikely to experience notable changes despite banks' push for simpler rules, S&P Global Ratings analysts say at a media briefing event in London. Analysts are monitoring the implementation of Basel III regulations, but they do not expect it to be a key driver of banks' credit rating changes. (miriam.mukuru@wsj.com)

0834 ET - Deutsche Bank's investment banking division is likely to post flat or slightly lower revenue in the third quarter, the group's chief financial officer says. Raja Akram tells a Bank of America conference that revenue growth would slow in the third quarter compared to the first half of 2026. The bank's dealmaking team would see weaker leveraged finance activity, the CFO says. However, stronger activity across M&A, equity capital markets and debt capital markets would support revenues, the CFO adds. Deutsche Bank shares fall 3.1% following Akram's comments. (josephmichael.stonor@wsj.com)

0804 ET - European banks are likely to keep up their strong performance over the next year, S&P Global Ratings analysts say at a media briefing event in London. Banks' profitability is expected to increase in 2027, as higher central-bank rates boost interest revenue, the analysts say. Additionally, operating costs are expected to remain modest as banks continue to adopt efficient technology, they say.(miriam.mukuru@wsj.com)

0615 ET - Adyen's appointment of a new chief financial officer clears up uncertainty, ING's Thymen Rundberg writes in a note. The Amsterdam-based payments provider named Niclas Neglen, who joins from online-payments company Klarna, as its next finance chief. "The appointment removes uncertainty around the permanent CFO position following the departure of Ethan Tandowsky earlier this year," Rundberg says. Additionally, Neglen appears to be a solid fit given his previous experience, particularly in his recent role as CFO at Klarna. Shares are down 1.7% at 887.20 euros. (najat.kantouar@wsj.com)

0516 ET - European stocks vulnerable to increasingly footloose customers extended losses Wednesday. Companies that benefit from sticky customers who don't leave for better alternatives fell sharply in the U.S. and Europe Tuesday. Investors grew concerned that Meta's AI-enabled Muse app and its peers "would disrupt businesses that have so far benefited from consumer inertia," Swissquote's Ipek Ozkardeskaya writes. Telecoms and insurance stocks extend losses Wednesday. Deutsche Telekom falls 1.2%, while Orange and Vodafone both lose around 1.7%. Insurers Allianz and Axa slip 1.4% and 0.5%, while financial advice group St James's Place drops 1% in London.(josephmichael.stonor@wsj.com)

0515 ET - AXA should achieve the upper end of its earnings per share target range, Berenberg's Michael Huttner writes. The French insurer's new higher underlying EPS growth target is credible, Berenberg says. It is driven by increased, but conservative, top-line growth targets, the analyst says. AXA targets 6% to 7% revenue growth from 2027 through 2029, despite being on track to achieve a 6% growth rate from 2024 through 2026 while reorganizing the business. Berenberg estimates AXA's underlying EPS annual growth will rise to an "attractive level" of 9.1% from 2027 through 2029, compared to the new 7% to 9% target range. Berenberg maintains a buy recommendation and 77 euro price target. Shares are down 0.4% at 43.72 euros.