Most Important News

1. Trump Claims Progress in Iran Talks, Mentions Receiving a "Gift"  ;
2. Gundlach: US Stocks Not Yet a Buy, Gold Presents Opportunity  ;
3. Gold Surges Above $4500, Mining Stocks Rally;
4. Tesla Eyes Mass Production of Optimus Robot by 2027  ;

Stock futures jumped on Wednesday following a news report that the US has given Iran a plan to bring the conflict to an end, sending crude prices tumbling.

As of 08:45 EST (or 3:48 PM in Riyadh), futures tied to the Dow Jones Industrial Average gained 332 points, or 0.72%. S&P 500 futures and Nasdaq 100 futures advanced 0.70% and 0.85%, respectively.

As of 03:49 PM Riyadh Time, top pre-market movements are as follows:

Trump Claims Progress in Iran Talks, Mentions Receiving a "Gift"  

On the 24th, President Trump stated that the US and Iran are in negotiations, with Iran allegedly agreeing to permanently renounce nuclear weapons. Despite Iran's denial, Trump declared victory, saying Iran is ready to make a deal. He mentioned receiving a "valuable gift" related to oil and gas, though specifics were not provided. This follows his previous comments on the US-Iran dialogue.

US Proposes Ceasefire Amid Military Buildup  

The US-Iran conflict escalates as the US offers a 15-point ceasefire plan while increasing troops in the Middle East, coinciding with Trump's deadline. Iran, skeptical of US intentions, told mediators they refuse Trump's envoy and warned of pressure on the Strait of Hormuz. An Iranian military spokesperson suggested the US is negotiating internally.

Iran Opens Strait of Hormuz Amid Conflict?

Iran's Foreign Minister Araqchi stated the Strait of Hormuz is open to all except warring nations, with non-hostile ships allowed passage through coordination with Iran. He emphasized Iran's commitment to a full ceasefire, not just a temporary one. Meanwhile, rumors of Iran charging up to $2 million for ship passage were denied by Iran's embassy in India.

Gundlach: US Stocks Not Yet a Buy, Gold Presents Opportunity  

CNBC reports that Jeffrey Gundlach, the "Bond King," warns that US stocks haven't bottomed and Fed rate cuts this year are unlikely. He suggests it's a good time to buy gold. Gundlach notes that despite recent declines in risk assets, the VIX hasn't shown a "clear-out signal." He believes a VIX spike to around 40 would indicate a buying opportunity. Gundlach also cites Fed Chair Powell's stance against rate cuts without progress on inflation.

Gold Surges Above $4500, Mining Stocks Rally

Gold prices have surged over 2% intraday, climbing back above $4500. In pre-market trading, gold-related stocks are showing significant strength. Harmony Barrick Gold Corp.(GOLD.US) and Hycroft Mining(HYMC.US) have risen over 9%, while Anglogold Ashanti PLC(AU.US) and Gold Fields Limited Sponsored ADR(GFI.US) have increased by more than 8%.

Airline Service Stocks Rise Pre-Market Amid Optimistic Demand Outlook  

Airline service stocks are broadly higher in pre-market trading. Alaska Air Group, Inc.(ALK.US) is up over 3%, while American Airlines Group Inc.(AAL.US) and United Airlines Holdings(UAL.US) have gained more than 2%. United Airlines CEO Scott Kirby warned that persistently high jet fuel prices may push ticket prices up by 20%. Despite this, the industry remains optimistic about demand growth. The International Air Transport Association (IATA) forecasts global air passenger demand to double by 2050, with a mid-growth scenario projecting demand to reach 20.8 trillion RPK (Revenue Passenger Kilometers) and an average annual growth rate of 3.1% from 2024 to 2050.

Optical Communication Stocks Extend Gains

Optical communication concept stocks continue their upward trend. Applied Optoelectronics, Inc.(AAOI.US), Coherent Corp.(COHR.US), and POET Technologies(POET.US) have risen over 3%, while Lumentum Holdings, Inc.(LITE.US) is up more than 2%.

Space-Related Stocks Surge Pre-Market Amid SpaceX IPO Buzz  

Space-related stocks are rallying pre-market. The "SpaceX Concept Fund" Destiny Tech100 Inc(DXYZ.US) has surged over 23%. EchoStar Corporation Class A(SATS.US) is up more than 6%, Intuitive Machines, Inc. Class A(LUNR.US) over 4%, and Rocket Lab(RKLB.US) and AST SPACEMOBILE INC(ASTS.US) more than 3%. The surge follows news that SpaceX plans to file for an IPO as early as this week, aiming for a June listing. The IPO could raise over $75 billion, surpassing previous market estimates of $50 billion. SpaceX's latest pre-IPO valuation has reached $1.25 trillion. Notably, more than 20% of the IPO shares are expected to be allocated to individual investors, with no traditional six-month lock-up period.

Cryptocurrency-Related Stocks Rebound; Robinhood Announces Buyback  

Cryptocurrency-related stocks are seeing a rebound. Cipher Mining(CIFR.US) has surged over 12%, while Circle(CRCL.US), IREN Limited(IREN.US), and TeraWulf Inc.(WULF.US) are up more than 4%. Robinhood Markets, Inc. Class A(HOOD.US) has gained over 3% following the announcement of a $1.5 billion stock buyback program.

CPU Prices Surge as Supply Tightens  

Intel Corporation(INTC.US) and Advanced Micro Devices, Inc.(AMD.US) will raise CPU prices starting in March and April, respectively, with year-to-date increases averaging 10%-15%, according to Nikkei Asia. Delivery times have stretched from 1-2 weeks to 8-12 weeks, and in some cases, up to 6 months. Industry leaders warn of worsening shortages in Q2, boosting demand for Arm-based processors. Pre-market, Intel Corporation(INTC.US) rose over 4%, while Advanced Micro Devices, Inc.(AMD.US) gained more than 2%.  

Tesla Eyes Mass Production of Optimus Robot by 2027  

Tesla Motors, Inc.(TSLA.US) unveiled new details about its Optimus robot, showcasing its development environment, gearboxes, and dexterous hand designs in a video. The company stated that Optimus aims to revolutionize labor and manufacturing economics. Elon Musk revealed plans to begin production of the Optimus3 model this summer, with large-scale mass production targeted for 2027.

Meta Unveils Aggressive Executive Incentive Plan Tied to $9 Trillion Valuation Target

Meta Platforms(META.US) has introduced its most aggressive executive incentive plan to date, requiring executives to increase the company's market capitalization from $1.5 trillion to $9 trillion within five years, or risk forfeiting their stock options. The move highlights the intensifying competition in artificial intelligence and the tech giant's urgency to retain top talent and strengthen executive motivation. However, the rapidly rising cost of equity incentives has significantly impacted Meta's cash flow, adding financial pressure to the ambitious plan.

Apple to Unveil AI-Powered Siri Revamp at WWDC  

Apple Inc.(AAPL.US) is reportedly overhauling Siri with its most significant AI upgrade, set to debut on June 8 at WWDC under the codename "Campo." The new Siri will launch as a standalone app, featuring multi-turn conversational capabilities similar to ChatGPT, targeting rivals like Google Gemini. Apple is also testing Siri as a replacement for Spotlight and exploring deeper system integration to enhance user interaction.

Arm's AGI CPU Launch Aims for $150 Billion Revenue, Shares Surge  

ARM Holdings PLC Sponsored ADR(ARM.US) announced plans to sell its own chips, projecting annual revenue of $15 billion within five years. At a San Francisco event, Arm revealed Meta Platforms(META.US) as the first major customer for its AGI CPU, which features up to 136 cores and 300-watt power consumption. This announcement drove Arm's pre-market shares up over 12%, challenging competitors like NVIDIA Corporation(NVDA.US) and Advanced Micro Devices, Inc.(AMD.US).