01 Stock Market
As of Jul 13, U.S. stock index futures performed as follows: Dow futures edged 0.12% lower, S&P 500 futures declined 0.37%, and Nasdaq 100 futures fell 1.04%, indicating a cautious mood after the prior session’s gains and amid fresh geopolitical tensions that lifted oil but pressured growth-oriented technology benchmarks.
Notable Stock Movers: Semiconductor sentiment weakened: SKHY fell 8.92% at $153.02, SOXL fell 8.59% at $175.75, while inverse fund SOXS rose 8.14% at $4.41. Large-cap chip leaders softened, with NVDA down 1.40% at $208.01 and AMD down 2.44% at $544.30. In contrast, consumer-finance platform SOFI added 2.13% at $19.18, and Chinese e-commerce player JD gained 2.09% at $28.79 after upbeat broker commentary.
The morning’s tone is being shaped by a combination of rising crude prices, renewed Middle-East risk and profit-taking in AI-linked semiconductors following a string of high-profile listings. Traders also brace for a busy earnings calendar, highlighted by major health insurers, financial giants and key tech suppliers, with expectations that forward guidance will set the course for the season.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.14%, to 4.58%.
• U.S. Dollar Index fell 0.05% to 100.91.
• WTI crude oil futures rose 3.37% to 73.82 USD/barrel; COMEX gold futures fell 1.17% to 4065.60 USD/ounce.
03 Key News
1. Volkswagen signaled up to 50 000 additional job cuts to restore cost competitiveness. In an internal memo, CEO Oliver Blume warned staff that the automaker’s cost base remains about 20% above peers, implying deeper workforce reductions beyond the 50 000 already announced. Management is reviewing operations across global brands and sites, leaving several German factories’ long-term roles in question.
2. White House prepares a ‘Ratepayer Protection’ pledge to curb AI-driven power-bill spikes. Officials intend to convene utilities, data-center developers and state leaders for a voluntary accord ensuring that investments in electricity infrastructure for artificial-intelligence expansion are financed by technology firms, not household customers, aiming to balance rapid AI growth with voter concerns over energy costs.
3. Iran declared the Strait of Hormuz closed amid allegations of a U.S. memorandum breach. State media reported the move to assert sovereignty over the vital shipping lane, stoking fresh geopolitical risk and underpinning a jump in crude prices during U.S. pre-market hours.
4. Meta will expand its Louisiana “Hyperion” data center to 5 GW, lifting investment above $50 billion. The company said local suppliers have already secured $1.6 billion in contracts and an additional $1 billion will fund regional infrastructure upgrades, underscoring Big Tech’s escalating capital commitment to AI computing capacity.
5. Brookfield-backed Csquare files to raise up to $1.35 billion in a New York IPO. Operating 64 data centers, the firm plans to list under ticker CQSR at $23–$27 per share, targeting a valuation near $4.2 billion and testing investor appetite for new AI infrastructure plays amid recent volatility in tech offerings.
6. JPMorgan unveiled an AI-driven investment agent that beat a traditional 60/40 portfolio. Strategists said large-language-model algorithms identified shifting macro regimes and dynamically rebalanced assets, delivering superior returns with lower risk during back-testing, highlighting Wall Street’s accelerating integration of generative AI into portfolio management.
7. TSMC reported second-quarter revenue up 36%, topping consensus forecasts. The contract chipmaker generated TWD 1.27 trillion as robust demand for advanced AI semiconductors from customers such as Nvidia and Apple underpinned the surge, reinforcing expectations for strong sectoral earnings despite recent share-price softness.
8. SK Hynix shares tumbled over 15% in Seoul as leveraged investors exited post-ADR debut. The sharp reversal, which triggered a brief trading halt in the local market, follows the company’s $26.5 billion U.S. listing last week and reflects profit-taking amid concerns about memory-chip supply dynamics.
9. Elevance Health and UnitedHealth prepare to open the managed-care earnings season. Analysts anticipate easing medical-cost pressures and improved Medicare Advantage pricing will underpin a multi-year margin recovery, with Goldman Sachs maintaining positive views ahead of reports due in coming sessions.
10. Trump administration financial disclosures revealed significant crypto proceeds shifted into traditional assets. Filings show over $1.4 billion in digital-asset earnings were largely redeployed into stocks and bonds, signaling a cautious stance toward long-term cryptocurrency exposure despite public promotion of token projects.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
