Stock Market
On Thursday, September 10, futures tied to all three major US stock indexes fell across the board. US August PPI printed 2.4% YoY versus 5.3% expected, while core PPI rose 0.2% MoM versus 0.3% expected, a mixed signal as Fed officials debate next week’s move.
Notable Stock Movers: In pre-market action AAPL up 0.34% after unveiling a foldable iPhone.
Chip sentiment was cautious: NVDA down 1% and memory peer MU fell 2.92%, mirroring a broader pullback in semiconductors.
Defense-drone specialist AVAV jumped 4.27% on an earnings beat, whereas Korea’s SKHY fell 4.87% after profit-taking.
Focus also turned to Chinese-linked ADRs: e-commerce heavyweight BABA fell 1.42%, logistics platform JD slipped 1.04%, and EV maker NIO dipped 2%, as mainland tech shares came under pressure in Asia.
Other Markets
• 10-year U.S. Treasury yield rose 0.79%, to 4.88%.
• U.S. Dollar Index rose 0.18% to 98.96.
• WTI crude oil futures rose 2.73% to 98.67 USD/barrel; COMEX gold futures fell 1.02% to 4,415.20 USD/ounce.
Key News
1. TSMC reported record August revenue of NT$514.8 billion, up 53% year on year. The foundry leader said demand for advanced nodes tied to artificial-intelligence processors underpinned a double-digit monthly lift, reinforcing its dominant 75% share of global foundry sales and bolstering pricing power with chip-design customers.
2. Apple unveiled the iPhone 18 “Duo,” its first foldable smartphone line, priced around $2,000. New CEO John Ternus is prioritizing hardware innovation over headline AI features, rolling out only premium variants initially to protect margins amid higher component costs and intensifying competition in the category.
3. The White House delayed a decision on refined-copper tariffs as cost concerns mount. Officials are weighing potential price pressures on U.S. manufacturers against incentives to boost domestic mining, leaving importers in limbo and triggering a 2.9% drop in copper futures as inventory-builders paused purchases.
4. Palantir and Nvidia launched an AI platform aimed at real-time supply-chain optimization. The partnership integrates Nvidia’s Nemotron models into Palantir’s Foundry to improve visibility, scenario planning and risk detection; Nvidia will deploy the system internally before a broader commercial rollout.
5. AeroVironment beat FY27 Q1 estimates, sending shares higher pre-market. Robust demand for loitering munitions and unmanned aircraft drove double-digit revenue growth and margin expansion, prompting the company to reaffirm its full-year outlook and highlight a growing defense backlog.
6. Cooper Companies cut full-year guidance after posting a soft fiscal Q3. Revenue missed consensus and management cited weaker ophthalmic-surgical demand, triggering a double-digit pre-market share decline as investors reassessed growth expectations.
7. American Eagle Outfitters warned that inflationary pressures are cooling apparel demand. The retailer forecast softer traffic and sharper promotions for the back-to-school season, driving a pre-bell share slide as the company braces for a challenging consumer backdrop.
8. Corporate-travel platform Navan raised its 2026 revenue outlook to as much as $933 million despite a wider operating loss. Management highlighted resilient demand for business trips tied to AI-sector spending, though higher sales commissions and product investment lifted costs and spooked investors in after-hours trade.
9. The U.S. Treasury announced a $6 billion buyback of 10- to 20-year bonds. The enlarged operation, part of Secretary Scott Bessent’s intervention strategy, aims to support market liquidity but sparked mixed reactions, with some dealers calling the size underwhelming.
10. A heavily subscribed $39 billion auction of new 10-year notes signaled strong demand at a 4.834% high yield. The robust bid-to-cover ratio briefly eased upward pressure on rates, suggesting investors are positioning ahead of Thursday’s Treasury buyback and Friday’s key core-CPI release.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
