5 things to start your day

[Bloomberg Markets]( [FOLLOW US [Facebook Share]]([Twitter Share]( [SUBSCRIBE [Subscribe]](  Forward Guidance  Multi-decade low U.K. unemployment fails to lift real wages, a big day in the oil market, and Juncker says E.U. has the wind back in its sails. Good news, bad news Unemployment in the U.K. dropped to [4.3 percent]( in the three months to the end of July, the lowest rate in 42 years. Wages, however, again failed to keep pace with inflation, growing a lower-than-expected 2.1 percent -- well below consumer prices which are rising at close to a [3 percent pace](. The pound, which had been higher during the session, gave up all its gains to trade at $1.3268 after the data was released as investors adjusted their view on how hawkish the [Bank of England will be]( at tomorrow’s meeting. Oil demand The International Energy Agency said in its monthly report published this morning that global oil demand will climb by the [most since 2015]( this year. On the supply side, OPEC and its allies are discussing extending by [more than three months]( the oil production cuts that are due to expire in March 2018. A barrel of West Texas Intermediate for October delivery was trading [51 cents higher]( at $48.74 by 5:40 a.m. Eastern Time. State of the EU This morning European Commission President Jean-Claude Juncker gave his annual [State of the Union]( address to the European Parliament in which he outlined a bullish outlook for the bloc, saying “the wind is back in Europe’s sails.” The wide-ranging speech made little mention of Brexit but did propose free-trade talks with Australia and New Zealand. Separately, negotiations on Brexit were postponed for a week in order to give both sides a chance to make [real progress]( when talks now resume on Sept. 25. Markets quiet After U.S. equites closed at [record highs]( for the second session in a row yesterday, the rally in global stocks is slowing down a bit today. Overnight, the MSCI Asia Pacific Index advanced 0.2 percent, while Japan’s Topix index climbed 0.6 percent as the yen remained weak against the dollar. In Europe, the Stoxx 600 Index was [0.2 percent lower]( at 5:40 a.m., while S&P 500 futures slipped 0.1 percent. 10-year Treasury yields were largely unchanged at 2.160 percent, and gold was slightly higher. Still to come today -- producer price inflation data for August’s due to be released at 8:30 a.m, with expectations for an increase of 0.3 percent on the month. Tech woes Shares in Apple Inc. closed [0.4 percent lower]( after the company launched a suite of new products yesterday, with the much-anticipated iPhone X grabbing all the headlines. Suppliers in Asia were hit much harder and the new top of the range phone underwhelmed, with Hong Kong-listed Cowell e Holdings Inc. -- a maker of iPhone cameras -- tumbling as much as [6.6 percent](. Elsewhere in the tech world, Jamie Dimon had some very harsh words for lovers of bitcoin, calling the cryptocurrency a fraud and saying he would sack anyone that traded it for being “[stupid](.” Here's what you should read today - Pandit says [30 percent of bank jobs]( may disappear in 5 years. - Fed debate [heats up]( after inflation misses target. - There’s trouble brewing in [Putin’s heartland](. - “Peculiar” market strikes again with sale of [100-year Austrian bond](. - Mario Draghi is very proud of the euro-area [labor market](. - Whisky fund plans to [liquidate assets]( after beating cash target. - Settling a [65 million-year grudge](.  And finally, here’s what Joe’s interested in this morning After a few volatile days at the beginning of the month, the market has settled back into its old routine. Volatility is low and the tech-dominated Nasdaq 100 is at record highs. Speaking of tech, [back in August]( we talked about how investors seem confident that the big names -- such as Amazon, Alphabet and Facebook -- were going to swallow the whole economy, but that there was growing political opposition to the power of these behemoths. This idea is spreading. Ben Smith, the Editor-in-Chief at Buzzfeed has a [great piece wrapping up all the different threads]( on the mounting political opposition to big tech, from leftists concerned about monopolies to right-wingers worried about the companies' influence on political speech. "This has led to a kind of Murder on the Orient Express alliance against big tech: Everyone wants to kill them," says Smith. [You should read the whole piece](, since it nicely goes through all of the influential people who now have it out for these companies, and the specifics of each charge. Maybe this is all a passing political fashion, but it may not be. And, if it continues to build, it's something investors might eventually be forced to care about.   Before it's here, it's on the Bloomberg Terminal Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. [Learn more.](   You received this message because you are subscribed to the Bloomberg Markets newsletter.   [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022