To The Moon

U.S. stock index futures were higher on Friday ahead of a reading that could show job growth likely slowed in August, wrapping up a data-packed week for any fresh clues on the Federal Reserve's monetary policy trajectory.

Market Snapshot

At 7:50 a.m. ET, Dow e-minis were up 133 points, or 0.38%, S&P 500 e-minis were up 17.25 points, or 0.38%, and Nasdaq 100 e-minis were up 36.25 points, or 0.23%.

Pre-Market Movers

Dell Technologies $(DELL)$ earned $1.74 a share on an adjusted basis in the second quarter, soundly topping its own forecast for $1.10 a share and Wall Street expectations of $1.14. Revenue of $22.9 billion beat forecasts of $20.9 billion, driven by the company's PC and enterprise infrastructure businesses. The company also issued fiscal-year guidance that topped analysts' estimates.The stock was up 10.22% in premarket trading.

Broadcom $(AVGO)$ was falling 4% in premarket trading after the chip maker forecast fiscal fourth-quarter revenue of about $9.27 billion, in line with Wall Street estimates. Broadcom reported third-quarter adjusted earnings of $10.54, higher than $9.73 a year earlier and better than analysts' estimates of $10.43 a share. Revenue of $8.88 billion edged past estimates of $8.85 billion.

Apple $(AAPL)$ rose 0.41% in premarket trading after the world's most valuable company marked its worst month since December, falling almost 5% in August. Apple also ended its longest monthly winning streak in nine years, and a seven-month winning streak, its longest since August 2014.

Cloud-computing company Nutanix $(NTNX)$ reported fiscal fourth-quarter revenue that beat analysts' estimates and issued strong first-quarter sales guidance. The company's board also authorized the repurchase of up to $350 million in stock. The stock jumped 19.77% in premarket trading.

MongoDB $(MDB)$ jumped 5.69% in premarket trading after the software company's second-quarter adjusted earnings of 93 cents a share easily topped forecasts of 46 cents. President and CEO Dev Ittycheria said MongoDB "provides developers a unified platform that supports both the foundational requirements necessary for any application and the exceptionally demanding needs of AI-specific applications, making our competitive advantage even stronger in the world of AI."

Lululemon Athletica's $(LULU)$ earnings in the second quarter beat analysts' estimates and the yoga-pants maker raised fiscal-year guidance. The stock rose 2.82%.

PagerDuty $(PD)$ was down 9.59% even after the cloud-computing company's second-quarter adjusted earnings and revenue beat estimates. PagerDuty said it expects fiscal third-quarter revenue of between $106.5 million and $108.5 million versus analysts' forecasts of $107.3 million.

Market News

Nio Delivered 19,329 Vehicles In August 2023, Up 81% YoY

$Nio(NIO)$ continued to see strong deliveries in August, albeit down slightly from July.

The company delivered 19,329 vehicles in August, up 81.03 percent year-on-year, but down 5.54 percent from July, according to data it released today.

Although the delivery was down from July's record 20,462 vehicles, it was still the second-highest in the company's history.

Li Auto Delivered 34,914 Vehicles In August 2023, Up 663.8% YoY

$Li Auto(LI)$ delivered a record 34,914 vehicles in August, up 2.29 percent from July and up 663.82 percent year-over-year.

The cumulative deliveries of Li Auto vehicles in 2023 reached 208,165 as of the end of August.

“As increasing family users recognize and trust our products, we delivered robust performance in August, with monthly deliveries for each of Li L7, Li L8, and Li L9 surpassing 10,000 vehicles,” commented Xiang Li, chairman and chief executive officer of Li Auto.

XPeng Delivered 13,690 Vehicles In August 2023, A 24% Increase MoM

In August 2023, $XPeng(XPEV)$ recorded monthly deliveries of 13,690 Smart EVs, a 24% increase over the prior month and a 43% increase year-over-year. Since the start of this year, XPENG's monthly delivery volume has continuously increased, maintaining solid growth momentum.

In August, XPENG G6 deliveries reached 7,068 units, which brought cumulative G6 deliveries to more than 11,000 units.

The G6 has realized a significant ramp-up in production output, owing to the Company's considerable preparation and high efficiencies across its supply chain, as well as its manufacturing and delivery capabilities.

Novo Nordisk Overtakes Luxury Group LVMH As Europe's Most Valuable Company

Danish drugmaker $Novo Nordisk(NVO)$ unseated LVMH as Europe's most valuable listed company on Friday, ending the French luxury group's 2-1/2 year-long reign at the top.

Novo Nordisk now has a market capitalisation of $421 billion, according to Refinitiv data. The French-listed LVMH has a market cap of $420.97 bln.

The pharma group has had a huge boost in recent weeks from investors betting on the increasingly lucrative weight-loss drug market, while LVMH has come under pressure, along with other luxury retailers as concern about growth in China has burgeoned.

Alibaba-Backed EV Maker IM Motors Weighs Raising Fresh Funds

IM Motors, a Chinese premium electric-vehicle maker backed by $Alibaba Group Holding Ltd.(BABA)$ and SAIC Motor Corp., is considering raising new funds to help finance expansion plans, according to people familiar with the matter.

The Shanghai-based company is working with advisers including China International Capital Corp. as it seeks to raise about 6 billion yuan ($828 million), the people said, asking not to be identified because the matter is private.