Most Important News

• Fed’s Williams Sees Room for Near-Term Rate Cuts;
• Ark Invest's Big Tech & Crypto Trades;
• Lucid Group Unveils Gravity Touring SUV;

U.S. equity futures rebounded Friday after New York Federal Reserve President John Williams suggested the central bank could cut rates again in December.

As of 04:20 PM Riyadh time, contracts tied to the S&P 500 added 0.3%, while Nasdaq-100 futures rose 0.2%. Dow Jones Industrial Average futures gained 244 points, or 0.5%.

As of 04:20 PM Riyadh Time, top pre-market movements are as follows:

OpenAI & Foxconn Forge US AI Hardware Alliance

OpenAI has partnered with Foxconn Technology Group to design and manufacture AI hardware in the United States.

Hassett Urges Fed Rate Cut Amid Shutdown

White House official Hassett states the government shutdown impact justifies a December Fed rate cut, despite September's strong non-farm payrolls report suggesting otherwise.

Fed’s Williams Sees Room for Near-Term Rate Cuts

Federal Reserve Bank of New York President John Williams stated the central bank could cut interest rates "in the near term" without jeopardizing its inflation objectives, acknowledging progress has stalled while emphasizing the critical need for inflation to sustainably return from its current ~2.75% level to the 2% long-term target in prepared remarks for a Chilean Central Bank event.

Bitcoin Dips Below JPMorgan's Key Support

JPMorgan Chase analysts state retail selling of spot Bitcoin and Ethereum ETFs drove the latest crypto market pullback, with Bitcoin falling below the bank's US$94,000 support level, worsening the correction.

Gold Prices Face Weekly Downturn

Gold prices may decline this week as US non-farm payrolls report weakens market expectations for a December interest rate cut, keeping gold in a downtrend.

Neuralink's Patient Plans Second Implant

Neuralink's first human patient, Nolan Arbo, is set for a second implantation, expected to restore his leg mobility, as shared by Elon Musk.

Paulson Cautious on December Rate Decision

Philadelphia Federal Reserve President Anna Paulson expresses caution about next month's interest rate decision, prioritizing weak job market concerns.

Tech Stocks Set for Record 2025 Inflows: BofA

Bank of America in its Friday report said tech stocks could still attract a record US$75 billion in inflows in 2025, despite overvaluation concerns.

Tesla Expands Rental Program Nationwide

Tesla Motors, Inc.(TSLA.US)  is expanding its rental program to multiple US cities, offering unlimited miles and free supercharging from US$60/day.

Salesforce Blocks Gainsight Apps Over Data Risk

Salesforce.com, inc.(CRM.US)  suspended access to some Gainsight apps after detecting suspicious activity that risked unauthorized customer data access, prompting Mandiant to investigate. 

Ark Invest's Big Tech & Crypto Trades

Cathie Wood's Ark Invest bought NVIDIA Corporation(NVDA.US)  shares worth US$17M, sold Advanced Micro Devices, Inc.(AMD.US) , and scooped up crypto stocks BitMine Immersion Technologies(BMNR.US) , Bullish(BLSH.US) , and Circle(CRCL.US)  amid earnings buzz.

Lucid Group Unveils Gravity Touring SUV

Lucid(LCID.US)  launches the Lucid Gravity Touring, starting at US$79,900, offering space, performance, and efficiency. Orders open with select configurations for immediate delivery, featuring up to 337-mile range and fast-charging capabilities. 

Is Apple Overvalued or Undervalued in 2025?

Apple Inc.(AAPL.US) 's valuation is mixed: DCF analysis suggests 18.9% overvalued, but PE ratio analysis indicates undervalued; bullish narratives cite AI and services growth, while bearish ones warn of margin pressures and high valuation risks.

Copart's Q1 Earnings Beat, Sales Miss Estimates

Copart, Inc.(CPRT.US)  reported Q1 EPS of US$0.41, beating estimates by 1.99%, and sales of US$1.155B, missing estimates by 1.49%, with both metrics up YoY.

Ross Stores Ups FY2025 EPS Guidance

Ross Stores, Inc.(ROST.US)  has raised its FY2025 GAAP EPS guidance from US$6.08-$6.21 to US$6.38-$6.46, surpassing the analyst estimate of US$6.23.

Webull Surprises With Q3 Earnings Beat

Bull Run Corp(BULL.US)  reported Q3 adj. EPS of US$0.07, beating estimates by 250%, and a 275% increase from last year's loss, but sales of US$83.657M missed estimates by 38.30%, though up 62.68% YoY.