Most Important News

1. Fed Decision Rates May Steady As Yields Hold Firm;
2. Trump Says Hormuz Reopens as Iran Deal Advances;
3. Musk Envisions Post-Dollar, Space-Based AI Economy;
4. SpaceX Shares Climb ~2% Pre-market;

S&P 500 index(SPX.US) futures were relatively unchanged on Wednesday as oil prices rose and traders awaited the latest monetary policy decision from the Federal Reserve.

As of 03:25 PM Riyadh Time, futures tied to the broad market index climbed 0.05%, while NASDAQ-100(NDX.US) futures gained 0.51%. Dow Jones Industrial Average(DJI.US) futures traded down 48 points, or 0.09%.

Oil prices traded slightly higher after President Donald Trump said Wednesday a deal with Iran was not yet final, noting the US will “go right back to dropping bombs” if he doesn’t like the agreement. US West Texas Intermediate futures were up nearly 1% at around $76 per barrel, while international Brent crude futures rose almost 1% to roughly $79 a barrel.

Chip stocks also rose in early trading, with ASML Holding NV ADR(ASML.US) advancing 4% and Intel Corporation(INTC.US) popping by almost 3%. The Invesco PHLX Semiconductor ETF(SOXQ.US) was up by 2%.

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As of 03:25 PM Riyadh Time, top pre-market movements are as follows:

US-Iran Draft Unveils Oil, Asset Relief Deal
According to a leaked final memorandum draft, the US would immediately lift restrictions on Iranian oil exports, ease access to frozen overseas assets, and work with regional partners to mobilize at least $300 billion in reconstruction and development funding for Iran after the agreement is signed.

Trump Says Hormuz Reopens as Iran Deal Advances

Trump said the Strait of Hormuz will fully reopen on Friday and that the US-Iran agreement has normalized bilateral relations. Iranian officials said the deal requires the unfreezing of Iranian assets, while reports indicate Tehran could swiftly resume oil exports following the memorandum’s signing.

Fed Decision Looms As Yields Hold Firm

Dow Jones futures slip while S&P 500 and Nasdaq 100 futures rise as markets price a 99.6% chance the FOMC under new Fed Chair Kevin Warsh holds rates steady; 10-year Treasury yields 4.44%, two-year 4.05%, shaping macro risk appetite. Read in detail>>

Iran Strait Risk Clouds Oil Trade Outlook

Despite a new US–Iran peace agreement, US intelligence reportedly assesses Iran can now close the Strait of Hormuz at will, injecting renewed geopolitical risk into global energy supply routes and potentially increasing volatility premia across oil-linked assets and shipping markets. Read in detail>>

Musk Envisions Post-Dollar, Space-Based AI Economy

Elon Musk predicts traditional currencies will lose relevance as “mass and energy” dominate value, promoting lunar factories and mass drivers to harness solar power for deep-space AI. Read in detail>>

Passive Funds Threaten Market Price Discovery

Passive index funds now control about 54% of US equities, with the three largest S&P 500 trackers exceeding $2.6 trillion and Vanguard S&P 500 Etf(VOO.US) alone topping $1 trillion, raising concerns that approaching 75–83% passive ownership could destabilize price discovery, overinflate mega-cap tech, and deepen valuation distortions. Read in detail>>

Dalio Warns AI Will Deepen Inequality

Ray Dalio warns AI-driven productivity gains will sharply cut jobs and widen wealth inequality, highlighting weak US workforce skills. Other experts, including Kevin O’Leary and NVIDIA Corporation(NVDA.US) CEO Jensen Huang, counter that AI will reshape rather than eliminate employment. Read in detail>>

CFRA Issues Sell On Soaring SpaceX

CFRA’s Keith Snyder initiates SpaceX(SPCX.US) with a Sell and $115 target, implying ~46% downside from a ~$2.75 trillion valuation, arguing investors overpay for unproven AI/xAI businesses, unrealistic $26.5 trillion TAM claims, heavy capex, and persistently negative free cash flow. Read in detail>>

SpaceX Soars As Musk-Driven Valuation Debated

SpaceX(SPCX.US) has surged 25% since IPO to $201.80, despite 2025 losses near $5 billion on $18.5 billion revenue, with options implying ±50% three‑month move probabilities near 15%. Jim Cramer likens shares to meme stock GameStop Corp. Class A(GME.US), arguing valuation reflects Elon Musk’s reputation. Read in detail>>

Coherent Expansion Bolsters Nvidia AI Supply Chain

Coherent Corp.(COHR.US) is expanding its Texas facility, adding the world’s first high-volume 6‑inch indium phosphide line, strengthening NVIDIA Corporation(NVDA.US) US AI optics supply chain, supported by $67 million CHIPS Act grants, despite both stocks declining on Tuesday. Read in detail>>

AST SpaceMobile Launches Next-Gen BlueBird Satellites

AST SPACEMOBILE INC(ASTS.US) successfully launched BlueBird 8–10 on Falcon 9, deploying record-large LEO commercial communications satellites targeting nearly double prior data speeds. The company scales manufacturing toward BlueBird 37, advancing global space-based 4G/5G broadband with partners AT&T, Verizon, Vodafone, Rakuten and others. Read in detail>>

SpaceX IPO Overtakes TSMC In Valuation

SpaceX(SPCX.US) lifts its market value to $2.519 trillion and pushes Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) to seventh globally despite TSMC’s 4.12% share gain to $441.40 and $2.289 trillion capitalization amid rising Nasdaq and S&P 500 futures. Read in detail>>

TSMC, Amkor Seal 10-Year US Pact

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) and Amkor Technology, Inc.(AMKR.US) agreed a 10-year Arizona packaging and testing partnership, with TSMC purchasing advanced services from Amkor to bolster US AI and high-performance chip capacity, strengthen domestic semiconductor supply chains, and support both firms’ under-construction facilities. Read in detail>>

Oracle Disputes Reported $3 Billion Cloud Rift

Oracle Corporation(ORCL.US) denies reports that security and FedRAMP compliance issues led Microsoft Corporation(MSFT.US) to cancel a potential $3 billion Oracle Cloud deal, as Microsoft pursues multi-cloud capacity alongside Amazon.com, Inc.(AMZN.US) and Alphabet’s (Alphabet Inc. Class C(GOOG.US), Alphabet Inc. Class A(GOOGL.US)) FedRAMP-compliant platforms to support surging AI workloads. Read in detail>>

Rivian Spinoff Mind Robotics Raises $1 Billion

Rivian Automotive(RIVN.US) CEO RJ Scaringe’s spinoff Mind Robotics raised over $1 billion, valuing it at $3.4 billion, to deploy AI humanoid robots in Rivian’s Normal, Illinois plant, directly challenging Tesla Motors, Inc.(TSLA.US) Optimus as industrial labor automation demand surges. Read in detail>>

La-Z-Boy Soars On Earnings, Buyback

La-Z-Boy Incorporated(LZB.US) beat Q4 estimates with EPS $1.26 vs $0.82 expected and revenue $570.34 million vs $569.23 million, announced a $300 million share repurchase program, and saw shares jump 17.7% to $41.25 in after-hours trading. Read in detail>>

Jabil Forecasts Strong Quarterly Earnings

Jabil Inc.(JBL.US) is projected to report quarterly EPS of $3.10 on revenue of $8.61 billion before the market opens, with shares up 0.8% to $378.51 in after-hours trading, signaling optimistic sentiment ahead of the earnings announcement. Read in detail>>

Micropolis AI Soars On Abu Dhabi Contract

Micropolis Holding Co.(MCRP.US) jumped 58.65% after-hours to $3.30 after securing a five-year Abu Dhabi municipal cleaning robotics contract, lifting volume to 7.83 million shares. Despite the spike, $MCRP remains 36.2% below 12‑month performance and near 52‑week lows. Read in detail>>

Lunai Bioworks Soars On Nasdaq Compliance

Lunai Bioworks, Inc.(LNAI.US) surged 80.9% after-hours to $5.15 as Nasdaq confirmed regained compliance with its $1 minimum bid rule, triggering a one-year monitoring period. Despite the spike, shares remain down 90% over 12 months, with elevated volume and negative price trends. Read in detail>>