US Market Preview | LGHL Surges 109.8%; Market Awaits Fed, Tech Reports of AAPL, MSFT, SKHY and More; Nvidia Fuels US$10B Korea AI Push
Lion Group Holding Ltd. LGHL | 0.00 | |
T3 Defense Inc. DFNS | 0.00 | |
Matinas BioPharma Holdings, Inc. MTNB | 0.00 | |
Baiya International Group, Inc. Class A BIYA | 0.00 | |
FORTE BIOSCIENCES INC FBRX | 0.00 |
Most Important News
- Tech Earnings: Amazon, Apple, Meta, Microsoft and SK Hynix report.
- Fed Decision: Rate hike possible this week.
- Nvidia Investment: Leads US$10B Korea AI push.
Stock futures rallied early Monday as oil prices declined, amid a pause in fighting between the U.S. and Iran over the weekend. Traders were also looking ahead to a demanding week of megacap earnings and a potentially surprising Federal Reserve meeting.
As of 03:25 PM Riyadh time, Dow Jones Industrial Average futures rose 573 points, or 1.1%. S&P 500 futures gained 67 points (0.9%), while Nasdaq-100 futures advanced 413.25 points (1.46%).
| Index Futures | Value | Change | Change % |
|---|---|---|---|
| Dow Futures | 52,697 | +573 | +1.1% |
| S&P 500 Futures | 7,514.5 | +67 | +0.9% |
| Nasdaq-100 Futures | 28,695.5 | +413.25 | +1.46% |
Cooling of tensions in the Middle East sent international benchmark Brent crude futures for September delivery down 7.7% to around $89.41 a barrel. U.S. West Texas Intermediate crude futures dropped over 6.3% to $83.21 a barrel.
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As of 03:15 PM Riyadh Time, top pre-market movements are as follows:
Gainers
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") |
109.8% | 1.91 | Lion Group Holding Ltd.(LGHL.US) |
67.4% | 7.28 | T3 Defense Inc.(DFNS.US) |
60.2% | 0.39 | 🌙 Matinas BioPharma Holdings, Inc.(MTNB.US) |
44.0% | 2.78 | Baiya International Group, Inc. Class A(BIYA.US) |
39.6% | 76.45 | 🌙 FORTE BIOSCIENCES INC(FBRX.US) |
33.9% | 47.55 | 🌙 First Tracks Biotherapeutics Inc(TRAX.US) |
Oil Tumbles, Gold and Bitcoin Surges On US-Iran Truce
- Brent and NY crude fell >6% on Oct 27 as US-Iran mutual attacks paused, easing Middle East tensions.
- Iran claims it forced 5 ships back from the Strait of Hormuz southern route; 1 ship had an unreported incident.
- Gold prices rose as a pause in the US-Iran conflict eased oil supply risks and inflation concerns.
- Crypto rose as US, Iran ceasefire talks reduced tensions, dropping oil by 5% to push risk-on trades.
Goldman CEO Backs Digital Asset Bill
Goldman Sachs Group, Inc.(GS.US) CEO David Solomon publicly supports US digital asset legislation, clashing with JPMorgan's Jamie Dimon over stablecoin rules viewed as a financial industry "watershed."
US Business Optimism Hits 15-year High
Stock market stays range-bound as tech sector sees largest sell-off since Liberation Day due to capex concerns.
Trump tariffs face legal challenges
President Trump's new tariffs are challenged in court hours later, with critics accusing abuse of trade laws.
Fed Likely to Hold Rates
Most Fed members won't push for a rate hike this week, Goldman Sachs says. Active defense remains key amid market volatility.
AI Trade Peaking? Watch Two Numbers
Big Tech earnings' two metrics may signal if artificial intelligence trade peaked, guiding next market moves.
Wall Street has turned on Big Tech's AI spending, with 'The Market Has Voted' against it, says Michael Burry.
Nvidia Fuels US$10B Korea AI Push
NVIDIA Corporation(NVDA.US) is leading South Korea's AI infrastructure buildout, with investment totalling US$10 billion. Read in detail>>
NVIDIA Corp announced Saturday a US$1B investment in S. Korea's Naver and a collaboration with SK Group for a US$500B+ AI factories and next-gen memory initiative.
Nvidia Backstops US$250B OpenAI Data Centers
- NVIDIA Corporation(NVDA.US) reportedly plans to backstop US$250 billion in data center financing for OpenAI. Michael Burry commented, "around and around we go."
- Alphabet Inc. Class C(GOOG.US) CEO Sundar Pichai supports Nvidia CEO Jensen Huang's push for open-weight AI models, with OpenAI and Meta joining a letter, but Anthropic and Amazon are absent.
SpaceX Activates Free Starlink Texting
SpaceX(SPCX.US) turned on free satellite texting via Starlink in Spain after wildfires disrupted mobile networks. Read in detail>>
Elon Musk said Starship was intentionally launched faster than last time to test its heat shield capability. The test flight was deemed successful.
Rocket Lab's US$266M Space Force Win
Rocket Lab(RKLB.US) secured a US$266 million multi-launch contract with the US Space Force.
Apple Restores Key Services After Outage
Apple Inc.(AAPL.US) restored six services including the App Store, all now back to normal per its system status page.
The Boring Co Aims For US$20B Valuation
Elon Musk's The Boring Company is in talks for a new funding round targeting a US$20 billion valuation.
Apple Earnings: Key Watch Points
Apple Inc.(AAPL.US) reports earnings today; watch AI strategy, China sales, services growth, and demand trends.
Apple Inc invests heavily in AI amid analyst doubt about strategy direction and potential costs.
| Time (Riyadh) | Event | Previous | Consensus | Forecast |
|---|---|---|---|---|
| 03:30 PM | Durable Goods Orders MoM JUN | -4.5% | 2.5% | 2.2% |
| 03:30 PM | Durable Goods Orders Ex Transp MoM JUN | 1.3% | 0.8% | 1.0% |
| 05:30 PM | Dallas Fed Manufacturing Index JUL | 0 | — | -1 |