Top News

1. Gold Hits US$3,000 Barrier, Gundlach Predicts US$4,000
2. Nvidia's GTC Conference Catalyst?
3. Oracle Considering Batam Data Center

I. Market Report

Stock futures rose on Friday after a day of losses pushed the S&P 500 into correction territory.

As of 07:40 AM, ET(or 02:40 PM in Riyadh), the blue-chip Dow Jones Futures advance 232 points or 0.57% to 41,095, the broad-based S&P 500 Futures improve by 47 points or 0.85% to 5,574, the tech-heavy Nasdaq Futures grow significantly by 217 points or 1.13% to 19,466. (Data source: Wind Quant)

Here are some stocks moving in pre-market trading as of 03:00 PM Riyadh Time.

II. Flash Headlines

S&P 500 Falls into Correction Range

S&P 500 INDEX(SPX.US)  has fallen into correction territory, down 10% from its recent high. Analysts view this as a healthy correction rather than a bear market, noting buying opportunities in suppressed small-cap and value stocks. Market uncertainty remains high due to Trump's trade policies, but some believe inflationary pressures are easing and earnings growth expectations are solid. 

Gold Hits US$3,000 Barrier, Gundlach Predicts US$4,000

Gold futures reached a historic milestone on Thursday, climbing above $3,000 per ounce with intraday gains exceeding $50. This represents an impressive year-to-date increase of more than 11%, with multiple record highs set since January. The DoubleLine CEO has made a bold prediction that gold could reach $4,000 per ounce, citing financial system instability and increased recognition of gold's value as key factors.

Dollar Decline Natural, UBS Warns On US Stocks

US Treasury Secretary Benson says dollar's decline is natural correction. Former Treasury Secretary Mnuchin downplays recession risk, calls stock market correction reasonable. UBS strategists advise not buying US stocks yet, expect S&P 500 to fall another 5%.

Lagarde: Trump's Trade War A Wake-Up Call For Europe

European Central Bank President Christine Lagarde said Trump's trade war could harm US interests but also reactivate European solidarity. She noted it was a wake-up call for Europe, potentially boosting unity as Germany and the EU Commission increase defense and infrastructure spending.

Tariffs Shift Investor Sentiment to US Bonds

Investors expect US Treasuries to outperform stocks due to tariffs, with 77% supporting Treasuries in survey results. Only 9% predict US share of global market capitalization will return to record levels by 2025.

III. Stocks To Watch

Nvidia's GTC Conference Catalyst?

NVIDIA Corporation(NVDA.US)  will host its GTC conference next week, with CEO Jensen Huang's keynote expected to be a catalyst for the stock, potentially highlighting new products, AI updates, and future monetization opportunities. 

Indonesia Approves iPhone 16 Sales

Indonesia has approved five iPhone 16 models (Apple Inc.(AAPL.US) ) for telecommunications equipment licenses, lifting the ban on local sales. Apple still needs import permission from the Ministry of Trade. The approved models are iPhone 16e, iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. This comes after Apple announced a US$300 million investment plan in Indonesia.

Oracle Considering Batam Data Center

Oracle Corporation(ORCL.US)  is reportedly in talks with the Indonesian government to build a cloud services center on the island of Batam, expanding its data center presence in Southeast Asia.

Li Auto Q4 Revenue Up 6.1%

LI Auto(LI.US)  reported Q4 2024 revenue of 44.3 billion yuan, adjusted net profit of 4 billion yuan, vehicle deliveries up 20.4% YoY.

Intel Stock Analyzed By 13 Analysts

Intel Corporation(INTC.US)  has been evaluated by 13 analysts in the last three months with diverse opinions. The average 12-month price target is US$22.62, down 3.58% from the previous average, ranging from US$20.00 to US$29.00.

GameStop Stock May Rebound: Analyst

GameStop Corp. Class A(GME.US)  stock may see a price uptick as analyst Ali Martinez predicts a rebound based on a buy signal from the TD Sequential indicator. The meme stock has been volatile since 2020 and recently declined amid broader market concerns but may be setting up for a rebound ahead of Q4 results.

IV. Calendar

Day's Notable Event(s):