US Market Preview | FCUV Up 334.6%; AMZN, AAPL Move Post-Print; Big Tech AI Capex Crosses $1 Trillion; Apple Slips On Chip Constraints
Amazon.com, Inc. AMZN | 0.00 | |
Focus Universal, Inc. FCUV | 0.00 | |
Wetour Robotics WETO | 0.00 | |
Replimune REPL | 0.00 | |
Mangoceuticals, Inc. MGRX | 0.00 |
Most Important News
- Fund Managers Rotate From US Mega-Caps To Global
- Amazon: AWS Revenue Jumps 37%, Shares Up 9%
- Big Tech AI Capex Crosses $1 Trillion
U.S. stock futures were higher early Friday as Wall Street staged a sharp rebound, with upbeat earnings from Amazon.com, Inc.(AMZN.US) adding to optimism.
As of 03:04 PM Riyadh time, Nasdaq-100 futures gained 1.11%. Futures for the Dow Jones Industrial Average rose 313 points, or 0.51%, while S&P 500 futures added 0.34%.
| Index | Price | %Change |
|---|---|---|
| S&P FUT | 7,498 | 0.34% |
| NAS FUT | 28,550.75 | 1.11% |
| DOW FUT | 52,645 | 0.51% |
Amazon.com, Inc.(AMZN.US) surged 13% after reporting better-than-expected second-quarter revenue. The results, which were aided by the strength of its cloud-computing business, reinforced investor confidence in artificial intelligence spending.
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As of 03:45 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") |
334.6% | 8.17 | 🌙 Focus Universal, Inc.(FCUV.US) |
302.3% | 0.12 | 🌙 Wetour Robotics(WETO.US) |
129.0% | 12.39 | Replimune(REPL.US) |
106.6% | 0.61 | 🌙 Mangoceuticals, Inc.(MGRX.US) |
61.1% | 0.03 | Li Bang International Corporation Inc. Class A(LBGJ.US) |
53.4% | 0.26 | Zhibao Technology(ZBAO.US) |
46.6% | 1.73 | Kustom Entertainment Inc(KUST.US) |
45.0% | 0.29 | McKinley Acquisition Corporation Rights - For Shares(MKLYR.US) |
39.3% | 65.4 | 🌙 AXT, Inc.(AXTI.US) |
25.0% | 10.5 | Digital Asset Acquisition Corp. Class A(DAAQ.US) |
Earnings Split: Apple Down 7%, Amazon Up 12%
The AI earnings season is splitting the mega-caps. $AAPL fell 7% pre-market after warning of chip-supply constraints, while $AMZN jumped 12% pre-market as AWS reaccelerated. The divergence shows investors now reward concrete AI monetization and punish vague spending.
Fund Managers Rotate From US Mega-Caps To Global
Asset managers are trimming concentrated 'Magnificent Seven' positions and adding overseas exposure, says Janus Henderson's Julian MacMahon. LSEG data shows MSCI ACWI ex-US is up over 8% YTD vs the S&P 500's 6.8%. He favors European and Japanese banks, Samsung, Tencent, CATL, and semiconductor upstream suppliers over AI application names.
VYM: Safe Haven If 2026 Bear Arrives
Historical data shows Vanguard High Dividend Yield ETF (Vanguard High Dividend Yield Index ETF(VYM.US) ) outperformed in past deep bear markets - down 31.9% vs the S&P 500's 37% in 2008, and only -0.5% in 2022 vs -18.1% for the index. Trade-off: it lags in bull runs (up 65.5% since 2023 vs 102.8% for the S&P 500). A defensive port if a 2026 downturn hits.
Kioxia Profit Jumps 45-Fold On AI Memory Demand
Japan's Kioxia posted a quarterly net profit up more than 45-fold YoY to 842.2B yen ($5.3B), riding the global AI data-center build-out that has sent NAND prices soaring. Operating profit hit 1.3T yen (+~2700% YoY). The memory-chip sector is red-hot -- peer SK Hynix surged 30% Friday after its own blowout results and an insider buy. Kioxia plans a US listing, following SK Hynix's Wall Street debut.
Trump Threatens Oil Intervention As Exxon, Chevron Profit Surges
Trump threatened oil-price intervention measures as ExxonMobil (Exxonmobil Holdings Corporation(XOM.US) ) and Chevron (Chevron Corporation(CVX.US) ) posted blockbuster Q2 profits -- Chevron net income $12.2B (4x YoY), Exxon $14.5B (doubled) -- fueled by the Iran conflict-driven crude and gasoline spike. Pre-market, Chevron Corporation(CVX.US) rose ~1% while Exxonmobil Holdings Corporation(XOM.US) fell nearly 2%. With gasoline at $4.11/gal vs Trump's $2.25 target, analysts see rising political heat on the sector ahead of midterms; odds of an export ban are pegged near 35%.
Coinbase: Revenue Down 19%, Reups Circle Deal
Coinbase(COIN.US) reported Q2 revenue fell 19% YoY to $1.2B - its third straight quarterly decline - and posted a $359M net loss vs a $1.4B profit a year earlier. Shares dropped 5.6% pre-market. The crypto exchange will renew its USDC revenue-share agreement with Circle ($CRCL) on existing terms next month; stablecoin revenue was $292M (-5% YoY).
Apple: Supply Tightness To Weigh On September Quarter
Apple Inc.(AAPL.US) guided current-quarter revenue growth of 9%-11% but warned high-end chip supply constraints will 'significantly worsen,' capping iPhone growth near 15%. Shares fell about 7% after hours. June-quarter revenue was $109.4B (+16.4% YoY); iPhone revenue rose 22% to $54.3B. CEO Tim Cook confirmed he will step down in September, succeeded by John Ternus.
Amazon: AWS Revenue Jumps 37%, Shares Up 9%
Amazon.com, Inc.(AMZN.US) beat Q2 estimates as AWS revenue surged 37% YoY (vs +28% in the March quarter) with operating margin at 39.4%, a multi-quarter high. Shares rose about 9% after the print. Management lifted 2026 capex guidance by $20B to $220B; CEO Jassy said customers locked in 2028 compute capacity on 5-year deals.
Musk Denies Tesla Weighing China Unit Spin-Off
Elon Musk denied a Wall Street Journal report that Tesla (Tesla Motors, Inc.(TSLA.US) ) is considering spinning off its China business, potentially to pave the way for a future SpaceX merger. China's Foreign Ministry, asked to comment, said it opposes over-generalizing national security and discriminatory actions against China. $TSLA shares were little moved.
Novo Nordisk Tumbles 9% As Heart Drug Trial Fails
Novo Nordisk A/S Sponsored ADR Class B(NVO.US) slid as much as 10% (ADR -9.8% pre-market) after its late-stage trial of experimental drug ziltivekimab failed to beat placebo in reducing major adverse cardiovascular events. The setback does not alter the company's cardiovascular strategy, its chief scientific officer said, but underscores efficacy and regulatory risk around its pipeline.
TSMC Develops Advanced Packaging To Counter Intel
TSMC (Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) ) is developing an EMIB-like advanced chip-packaging technology to rival Intel's (Intel Corporation(INTC.US) ) solution, as surging AI demand makes packaging a key bottleneck. Google (Alphabet Inc. Class C(GOOG.US) ) has already booked over 3 million AI processor packages from Intel for 2028. TSM's CoWoS capacity remains tight, capping client AI chip output.
Big Tech AI Capex Crosses $1 Trillion
The four hyperscalers - Google (Alphabet Inc. Class C(GOOG.US) ), Amazon (Amazon.com, Inc.(AMZN.US) ), Microsoft (Microsoft Corporation(MSFT.US) ) and Meta - have poured $1.1T into AI since 2023, with $745B planned this year alone for data centers, chips and power. The spending is pressuring free cash flow (combined FCF hit a decade low of $7B); only MSFT and META are FCF-positive. Investors now demand results, rewarding AMZN/MSFT/GOOG while META slid 8% on a murky compute-rental plan.
| Time (Riyadh) | Event | Previous | Consensus | Forecast |
|---|---|---|---|---|
| 03:30 PM | US Employment Cost - Benefits QoQ Q2 | 1.2% | — | 1.1% |
| 03:30 PM | US Employment Cost - Wages QoQ Q2 | 0.8% | — | 0.7% |
| 03:30 PM | US Employment Cost Index QoQ Q2 | 0.9% | 0.8% | 0.8% |
| 04:45 PM | US Chicago PMI JUL | 56.7 | 56 | 57.2 |
| 05:00 PM | US Michigan Consumer Sentiment Final JUL | 49.5 | 54.0 | 54.4 |