01 Stock Market
As of Sep 2, U.S. stock index futures performed as follows: Dow futures rose 0.27%, maintaining a modest rebound after the prior session’s pullback; S&P 500 futures inched up 0.12%, hinting at a cautious risk tone; meanwhile, Nasdaq 100 futures were flat as traders weighed mixed signals from the semiconductor and software complex. The divergence reflects investors’ rotation between value and growth pockets while they await incoming macro data and company updates to clarify the strength of the economic and earnings outlook.
Notable Stock Movers: Heavyweight tech supplier DELL up 9.13% at $463.8 after boosting full-year revenue and profit guidance on surging demand for artificial-intelligence servers. Gold-explorer SGLD up 197.64% at $15.12 on heightened speculative interest. Blue-chip consumer-tech giant AAPL up 0.40% at $326.44 in quiet trading as investors look ahead to its upcoming product cycle. Electric-vehicle leader TSLA up 0.32% at $357.24, attempting to stabilize after recent weakness in growth names. Chinese EV maker NIO down 3.71% at $3.91 amid fresh concerns about demand in its home market. Leveraged chip ETF SOXL fell 2.38% at $103.39, mirroring broad softness in memory and semiconductor shares.
Overall, pre-market flows tilt toward select AI hardware beneficiaries and defensive megacaps, while chip-related and China-exposed names face profit-taking. The mixed tone suggests traders are selectively positioning ahead of forthcoming macro catalysts, including U.S. employment and inflation prints as well as a heavy week of tech earnings. Liquidity remains thin, amplifying price swings; expect elevated intraday volatility as headlines on monetary policy, geopolitics, and corporate updates continue to steer sentiment into the opening bell.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.42%, to 4.78%.
• U.S. Dollar Index rose 0.09% to 99.76.
• WTI crude oil futures fell 1.23% to 89.11 USD/barrel; COMEX gold futures fell 0.37% to 4380.10 USD/ounce.
03 Key News
1. Uber Technologies will eliminate about 3,300 positions to streamline management. An internal email detailed a 10% workforce reduction and a 20% cut in managerial roles, part of a broader reorganization aimed at boosting efficiency and profitability. The ride-hailing group ended last year with roughly 34,000 employees worldwide and seeks to tighten cost controls amid an increasingly competitive mobility landscape.
2. Dell Technologies raised its annual revenue forecast by $25 billion and lifted earnings guidance. Management cited surging orders for AI-optimized servers as enterprise clients accelerate data-center spending. The upbeat outlook, announced alongside quarterly results, reassured investors that AI demand can offset softer traditional PC volumes and sent the stock sharply higher in pre-market trade.
3. GitLab beat second-quarter expectations and boosted full-year guidance. Revenue climbed 21% year over year to $286.3 million, while adjusted EPS of $0.24 surpassed consensus by 33%. Management cited strong adoption of its DevSecOps platform and raised fiscal projections, signaling confidence that expanded product bundles and AI-enhanced features will sustain double-digit growth.
4. Hewlett Packard Enterprise reported a surge in AI systems revenue, lifting investor sentiment. Fiscal third-quarter numbers topped forecasts, and executives highlighted a robust pipeline for high-performance computing solutions. The company sees continued momentum from cloud and enterprise demand for advanced infrastructure, supporting a 5% pre-bell share rise.
5. Berkshire Hathaway invested an additional $10 billion in Alphabet, spotlighting AI’s energy implications. CEO Greg Abel noted Google’s leadership in artificial intelligence as a key attraction and said Berkshire’s utility arm expects significant electricity demand from data-center expansion. The move makes Alphabet Berkshire’s third-largest equity holding.
6. The Reserve Bank of New Zealand lifted its Official Cash Rate by 25 basis points to 2.75%. Policymakers highlighted persistent price pressures but signaled that gradual tightening should be sufficient to guide inflation back toward the 2% midpoint by late next year. The decision underscores diverging global rate paths as central banks balance growth risks against sticky inflation.
7. South Korea’s foreign-exchange stabilization fund purchased about $20 billion repatriated by SK Hynix. Sources say the transaction, following the chipmaker’s New York listing, raises the fund’s U.S.-dollar share of reserves and could temper won volatility. The sizable operation underscores Seoul’s proactive stance in managing currency flows amid tech-sector swings.
8. U.S. Energy Secretary Chris Wright projected Venezuelan oil output could more than double after new investment deals. Speaking in Caracas, he said agreements to be signed imminently would revive production to levels unseen in decades, potentially easing future fuel price pressures, though refining capacity remains a bottleneck.
9. Broadcom will release third-quarter results later, aiming to reassure investors after recent share weakness. Analysts expect revenue to jump 83% on booming AI-chip demand, yet prior guidance disappointment has weighed on the stock. Management’s commentary on 2027 targets and semiconductor pipeline will be scrutinized for confirmation of sustained growth.
10. A consortium of 21 global financial institutions initiated plans for a regulated U.S.-dollar stablecoin. Banks including Bank of America, Goldman Sachs, and Citigroup announced the formation of a new entity that will launch a digital token backed by fiat reserves, with expansion to other G7 currencies envisioned. The move signals accelerating mainstream adoption of blockchain-based payments.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
