• ASML's Earnings, Johnson & Johnson's Revenue Beat;
• Citi Bullish on Silver, Believes Gold May Have Peaked;
• US Firms Invest US$92B in AI, Energy;

I. Market Report

Stock futures pointed to a mixed open on Wednesday, as investors weighed earnings releases from big banks and awaited the latest wholesale inflation report.

As of 03:00 PM Riyadh Time, futures tied to the Dow Jones Industrial Average rose 85 points, or nearly 0.19%. S&P 500 futures hovered below the flatline. Nasdaq-100 futures slipped 0.19%.

As of 03:15 PM Riyadh Time, top pre-market movements are as follows:

II. Flash Headlines

Citi Raises Silver Price Forecast to $40, Sees Gold Peaking Below $3,000

Citi analysts lifted their 3-month silver price target to $40 from $38 and introduced a 6-12 month forecast of $43, while maintaining their view that gold may have peaked and could fall below $3,000/oz next year.

US Economy Strong, Fed Patient Amid Tariff Concerns

The US economy remains solid, allowing the Fed to remain patient on interest rate cuts. Fed officials Collins and Barkin speak on monetary policy, inflation, and tariff impact.

Bessant Considered for Fed Chair

US President Trump mentions US Treasury Secretary Scott Bessant as a candidate for next Fed chairman. 

JPMorgan Joins Stablecoin Race

JPMorgan Chase  CEO Jamie Dimon says the bank must actively participate in stablecoin and encrypted payment technology despite skepticism. Citigroup  and Bank of America also exploring stablecoin-related businesses. 

House Halts Crypto Bills Votes

The House of Representatives suspended Tuesday's votes on key cryptocurrency bills, including the GENIUS Act and CLARITY Act, due to a procedural failure. The move came despite President Trump's 'Happy Crypto Week' wishes.

US Firms Invest US$92B in AI, Energy

US President Trump welcomes US$92 billion investment by American companies (BlackRock, Inc.(BLK.US) , NVIDIA Corporation(NVDA.US) ) in AI and energy infrastructure, highlighting efforts to boost US competitiveness in AI field.

III. Stocks To Watch

Johnson & Johnson Q2 Revenue Beats at $23.7B, Raises Full-Year Guidance to $93.4B

Johnson & Johnson(JNJ.US)  reported stronger-than-expected Q2 results with revenue reaching $23.7 billion, surpassing analysts' $22.8 billion estimate, while raising its 2025 full-year revenue outlook midpoint by $2 billion to $93.4 billion and increasing adjusted EPS guidance range midpoint by 25 cents to $10.80-$10.90, signaling sustained business momentum.

Apple's $500M Rare Earth Deal With MP Materials Fuels Sector Rally

U.S. rare earth stocks extended gains in pre-market trading, with MP Materials Corporation Ordinary Shares - Class A(MP.US)  up 3.6%, Ramaco Resources, Inc.(METC.US)  rising 5.3% and USA Rare Earth Inc. Ordinary Shares - Class A(USAR.US)  jumping 7.1%, after Apple signed a $500 million supply agreement with MP Materials - building on Tuesday's sector momentum.

ASML Q2 Earnings Beat; Cuts 2026 Growth Outlook

ASML Holding NV ADR(ASML.US)  Q2 EPS 5.90 euros (US$6.86), sales 7.69 billion euros; cuts 2026 net sales growth outlook to ~15% from prior guidance of 30-35 billion euros due to macro-economic and geopolitical uncertainties. However, the shares dropped over 8% premarket.

Tesla Loses VP Of Sales

Tesla Motors, Inc.(TSLA.US)  North American sales and service VP Troy Jones has left after 15 years. Other senior execs have also departed recently amid falling sales in key markets. 

Cathie Wood's Trades: Buys Tesla, Dumps Coinbase & Crypto ETF

Cathie Wood's Ark Invest buys US$35.86M Tesla Motors, Inc.(TSLA.US)  shares, sells US$13.28M Coinbase(COIN.US)  & US$8.74M ARK 21Shares Bitcoin ETF(ARKB.US).

Nvidia GPU Predicts Art Prices

NVIDIA Corporation(NVDA.US)  GeForce RTX 3090 gaming GPU used to train AI tool that predicts auction prices of Chinese ceramics with 99% accuracy.

IV. Calendar

Day's Notable Event(s):