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US Market Preview | DARE Surges 239.6% Premarket; Bitcoin Hits Record $120K High; Goldman Sees Gold Hitting $4,000; ORCL CEO Cashes Out $1.8B in Q2
Dare Bioscience -0.88% Pre
Sonnet BioTherapeutics 0.00% Pre
Presidio Property Trust -19.95% Pre
Avalon GloboCare -1.21% Pre
Cayson Acquisition Corp Rights - For Shares 0.00% Pre
Dare Bioscience DARE | 2.26 2.26 | -0.88% 0.00% Pre |
Sonnet BioTherapeutics SONN | 1.26 1.26 | 0.00% 0.00% Pre |
Presidio Property Trust SQFT | 3.21 3.18 | -19.95% -0.93% Pre |
Avalon GloboCare ALBT | 1.00 0.99 | -1.21% -0.98% Pre |
Cayson Acquisition Corp Rights - For Shares CAPNR | 0.20 0.20 | 0.00% 0.00% Pre |
- Bitcoin Hits Record $120K High;
- Goldman Sees Gold Hitting $4,000;
- HSBC Warns of "Anti-Dollar Bubble" ;
I. Market Report
US equity futures slid early Monday after President Donald Trump threatened high tariffs on more countries over the weekend, but were off the worst levels as investors bet those duties will eventually be negotiated down. Investors were also optimistic about second-quarter earnings season, which ramps up this week.
As of 03:10 PM Riyadh Time, futures for the Dow Jones Industrial Average fell 114 points, or 0.26%. S&P 500 futures and Nasdaq 100 futures also dropped 0.3% each.
As of 03:15 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") | Additional Information |
239.6% | 8.54 | 🌙 Dare Bioscience(DARE.US) | Interim Phase 3 trial results on Ovaprene. |
198.1% | 15.41 | 🌙 SONNET BIOTHERAPEUTICS HOLDINGS, INC(SONN.US) | Stock surges pre-market due to crypto treasury strategy. |
154.2% | 12.99 | Presidio Property Trust(SQFT.US) | - |
79.9% | 4.59 | Avalon GloboCare(ALBT.US) | Received Hong Kong patent for CAR-T technology. |
77.9% | 0.25 | Cayson Acquisition Corp Rights - For Shares(CAPNR.US) | - |
64.1% | 5.4 | 🌙 Monogram Biosciences Inc Com New(MGRM.US) | Acquisition agreement with Zimmer Biomet boosts shares. |
62.5% | 2.21 | 🌙 OceanPal Inc(OP.US) | - |
62.3% | 0.41 | 🌙 Stardust Power Inc. Ordinary Shares(SDST.US) | - |
50.6% | 17.62 | 🌙 AURORA MOBILE LTD(JG.US) | Due to Bitcoin surge and strategic positioning. |
II. Flash Headlines
Bitcoin Hits Record $120K High as ETF Inflows Fuel Rally
Bitcoin surged to an all-time high of $121,249.90, breaking the $120,000 barrier amid strong ETF inflows, with analysts predicting a potential rise to $125,000 as the U.S. Congress prepares to review key cryptocurrency legislation.
EU Plans Response to US 30% Tariffs as Trade Ministers Meet in Brussels
The EU is formulating countermeasures after former US President Donald Trump imposed 30% tariffs on European goods, with trade ministers convening in Brussels to develop strategies amid the economic impact on businesses and consumers, while temporarily withholding retaliatory tariffs in hopes of reaching an agreement by August 1.
Goldman Sachs Bullish on Gold, Sees $4,000/oz by Mid-2026
Goldman Sachs forecasts gold prices could reach $4,000 per ounce by mid-2026, citing strong central bank demand and untapped ETF buying potential as key drivers for the precious metal's upward trajectory.
HSBC Warns of "Anti-Dollar Bubble" as EUR/USD Rally Fades
HSBC cautions that anti-dollar sentiment has formed a speculative bubble at risk of bursting, noting the EUR/USD uptrend may have peaked while excessive yen long positions signal potential short-squeeze risks for USD/JPY.
III. Stocks To Watch
Oracle CEO Tops Insider Stock Selling
Oracle Corporation(ORCL.US) CEO Safra Catz sold over US$1.8 billion worth of stock options in Q2, outpacing Bezos's US$737 million and becoming the biggest insider seller this year.
US Earnings Season After "Liberation Day"
US stocks face the first earnings season post-Liberation Day with expectations low. S&P 500 ($S&P 500 index SPX) firms seen posting 2.5% YoY profit growth in Q2, with tech giants (Microsoft Corporation(MSFT.US) , Meta Platforms(META.US) , Amazon.com, Inc.(AMZN.US) , Alphabet Inc. Class C(GOOG.US) ) leading earnings despite expected margin declines. ($JPM, $C, $BLK) kick off reporting this week.
Musk Opposes Tesla-xAI Merger But Supports Investment
Elon Musk (Tesla Motors, Inc.(TSLA.US) ) opposes a merger between Tesla and xAI but supports Tesla investing in the AI company. Musk proposed a shareholder vote for the investment. xAI's Grok chatbot has faced controversy.
Meta Acquires PlayAI For AI Talent
Meta Platforms(META.US) acquires AI startup PlayAI focused on natural-sounding voice tech. Entire team to join Meta, expanding its AI capabilities led by Mark Zuckerberg.
Rivian At Risk Of Losing Revenue Stream
Rivian(RIVN.US) could lose US$325M in 2024 from ZEV credit sales due to Trump's budget cuts relaxing CAFE norms.
JPMorgan Stock Mixed Ahead Of Q2 Results
JPMorgan Chase & Co.(JPM.US) ready to report Q2 earnings July 15 with mixed technical signals. CEO Jamie Dimon warns markets are complacent about Trump tariffs impact on interest rates.
IV. Calendar
Day's Notable Event(s):
| Riyadh Time | Event | Previous Value | Forecast Value |
| 06:30 PM | 3-Month Bill Auction | 4.255% | |
| 06:30 PM | 6-Month Bill Auction | 4.145% |
