Stock Market
As of Sep 11, U.S. stock index futures performed as follows: Dow Jones Industrial Average futures climbed 0.55%, the S&P 500 futures advanced 0.55%, and Nasdaq 100 futures gained 0.60%, hinting at a firmer tone after several choppy sessions dominated by rate and energy headlines. The uptick arrives alongside retreating crude prices and a pause in the recent bond-yield surge, offering relief to growth-oriented names even as investors remain alert to forthcoming inflation data and central-bank commentary.
Notable Stock Movers: ORCL rose 5.85% after posting record cloud revenue and lifting profit guidance.
Chip leaders showed mixed signals: NVDA was up 0.59% at $219.64, while MU added 1.05% at $987.69.
Consumer-tech bellwether AAPL inched 0.03% higher to $326.66 amid buzz around its new foldable device, whereas EV giant TSLA fell 0.56% to $361.52 as supply-chain cost concerns linger.
Software heavyweight ADBE fell 3% after issuing cautious forward guidance despite an earnings beat. Semiconductor levered ETF SOXL added 2.78% at $118.98, while inverse fund SOXS fell 2.88% to $45.40, underscoring the morning’s chip-sector optimism.
Solid corporate updates from large-cap technology firms have bolstered sentiment, but traders remain mindful of macro crosscurrents, including evolving rate expectations and energy-related inflation risks. With several high-profile events still ahead, pre-bell positioning reflects selective buying in earnings winners and continued scrutiny of richly valued areas of the market.
Other Markets
• 10-year U.S. Treasury yield rose 0.21%, to 4.95%.
• U.S. Dollar Index rose 0.08% to 99.16.
• WTI crude oil futures fell 3.16% to 99.24 USD/barrel; COMEX gold futures fell 0.73% to 4,375.10 USD/ounce.
Key News
1. Oracle delivered record quarterly revenue and boosted its full-year profit outlook, driving a sharp pre-market rally. Management highlighted triple-digit cloud-infrastructure growth and assured investors that data-center construction delays will not affect long-term targets. The upbeat guidance underscores continued demand for enterprise cloud solutions.
2. Apple’s new foldable iPhone is already commanding resale premiums of up to 150% on secondary platforms. Early transactions on online marketplaces show buyers paying far above the official list price, reflecting heightened consumer appetite for the company’s latest hardware innovation ahead of its formal launch.
3. Adobe topped third-quarter earnings expectations but trimmed fourth-quarter guidance, sending shares lower in pre-market trade. While revenue and profit exceeded consensus, management signaled softer near-term growth due to currency headwinds and enterprise spending caution, prompting investors to reassess valuation multiples.
4. GameStop’s board members collectively purchased one million shares, signaling confidence in the retailer’s turnaround strategy. The insider buying spree follows recent leadership changes and a renewed focus on e-commerce, offering support to the share price amid ongoing volatility.
5. Microsoft plans to triple its data-center footprint to 38 gigawatts by 2032 to meet surging AI demand. Roughly one-third of the future capacity is earmarked for AI-specific chips, reinforcing the software giant’s long-term bet on cloud and generative AI services while smoothing capital-expenditure recognition over longer lease terms.
6. SpaceX signed a new AI computing contract worth about $1.1 billion per month, moving it closer to a $100 billion annualized revenue goal. The multiyear deal highlights robust demand for high-performance computing and supports the company’s broader strategy to monetize its growing infrastructure beyond launch services.
7. Activist fund Barington Capital disclosed a stake in Bath & Body Works and urged the retailer to consider strategic alternatives, including a sale. The investor argues that the company’s brand equity and cash flow could attract private-equity buyers and seeks board engagement on capital-allocation improvements.
8. Home-furnishings chain RH raised its annual revenue forecast and unveiled “RH Estates,” a luxury home and lifestyle collection expected to be margin-accretive. Management projects the new line will accelerate top-line growth through year-end despite startup costs from international expansion, bolstering investor confidence.
9. The U.S. Treasury conducted an expanded bond-buyback operation, yet long-term yields continued to climb toward 5%, signaling persistent selling pressure. Market participants attributed the move to concerns over rising oil prices and inflation, suggesting the buyback alone may not curb upward momentum in borrowing costs.
10. Houthi forces completed a takeover of the strategic Bab al-Mandeb Strait, heightening geopolitical risks to global shipping lanes. The development raises potential supply-chain and energy-transport disruptions, prompting traders to monitor possible impacts on crude flows and freight rates in the Red Sea corridor.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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