01 Stock Market
As of Sep 1, U.S. stock index futures performed as follows: Dow Jones futures were down 0.62%, S&P 500 futures slipped 0.62%, and Nasdaq 100 futures retreated 1.18%. The pull-back reflects renewed caution after a jump in oil prices and Treasury yields rekindled inflation concerns. Investors also weighed a busy slate of corporate news from the technology and electric-vehicle arenas, keeping risk appetite subdued ahead of the opening bell.
Notable Stock Movers: Semiconductor-linked products showed pronounced volatility, with SOXL down 5.63% at $106.44 while inverse fund SOXS up 5.86% at $51.89. Chipmakers under pressure included NVDA down 1.59% at $217.28, MU down 2.26% at $937.10, AMD down 2.06% at $461.01, and AVGO down 1.31% at $365.49. In megacap tech, AAPL down 0.05% at $316.68, GOOGL down 0.85% at $336.48, and AMZN down 1.68% at $255.40. EV bellwether TSLA down 1.48% at $362.51 tracked the broader tech weakness. Among smaller-cap names, PETZ up 20.00% at $1.38 after upbeat corporate developments.
Chinese-linked ADRs were mixed in pre-market trade: E-commerce giants BABA fell 1.90% to $111.86, JD.com slipped 1.99% to $27.68, and PDD edged down 0.74% to $83.38. Autos also softened, with NIO down 1.20% at $4.18 and XPEV lower 0.62% at $11.29; meanwhile, property platform BEKE rose 2.15% to $17.56, suggesting selective buying in consumer-service names.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.72%, to 4.79%.
• U.S. Dollar Index rose 0.22% to 99.62.
• WTI crude oil futures rose 2.47% to 87.88 USD/barrel; COMEX gold futures fell 1.37% to 4,420.20 USD/ounce.
03 Key News
1. NVIDIA deepens its AI ecosystem ties through a complex data-center lease and cloud pact involving Anthropic and Lambda. The arrangement sees an NVIDIA-backed AI developer renting capacity from an NVIDIA-backed cloud provider in an NVIDIA-leased facility packed with NVIDIA hardware, reinforcing the chipmaker’s strategy of funding partners to secure long-term demand for its processors.
2. Apple announces leadership transition as Tim Cook shifts to executive chairman and hardware chief John Ternus prepares to lead. The move follows a tenure in which Apple’s revenue quadrupled under Cook, who will now focus on government relations while Ternus steers product strategy in the artificial-intelligence era.
3. Fervo Energy signs a landmark 400-megawatt geothermal power supply agreement with Google. The Utah-based Cape Station project, slated to become the world’s largest enhanced geothermal facility, will begin delivering carbon-free electricity to Google in phases, backed by more than $2 billion of planned investment.
4. NIO reports weaker-than-expected second-quarter revenue and trims near-term outlook. The EV maker posted 32.1 billion yuan in revenue and projected third-quarter deliveries of up to 111,000 vehicles, sending its U.S. shares lower in pre-market trade.
5. U.S. Treasury yields climb to 19-month highs as escalating U.S.–Iran hostilities lift energy prices and inflation fears. Missile exchanges in the Middle East pushed the 10-year yield toward 4.78%, triggering a broad global bond sell-off ahead of key U.S. employment data releases.
6. Oil markets tighten after two very large crude carriers are damaged by unidentified strikes in the Strait of Hormuz. Shipping-security reports indicate separate incidents involving Bahri and Sinokor tankers, driving WTI prices above $87 per barrel and amplifying supply-risk concerns.
7. Li Auto reveals 37,679 vehicle deliveries for August, maintaining its lead among China’s premium EV startups. Management highlighted upcoming launches of the Li MEGA MPV and Li i9 SUV and rapid expansion of its supercharging and retail networks.
8. Robinhood secures a Buy rating and $150 price target from Morgan Stanley, sparking pre-market share gains. The brokerage’s mobile-first growth strategy and potential in options and crypto trading underpin the analyst’s bullish stance, reinforcing a consensus of strong upside potential.
9. Duolingo upgraded to Outperform by Evercore, with the price objective doubled to $210. The analyst cited accelerating user growth, expanding AI-driven features, and a path to stronger margins, comparing the language-learning platform’s post-selloff setup to Netflix’s turnaround story.
10. MicroStrategy resumes its Bitcoin accumulation strategy with a $370 million purchase funded by equity issuance. The move lifts its total holdings to roughly $73 billion in Bitcoin and signals renewed confidence in crypto as spot ETF inflows and broader risk appetite strengthen.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
