Most Important News

1. Key Inflation Data Surprising Slowdown In Core Inflation;
2. SK Hynix Shares Rise Over 6% Following Bullish Report From SemiAnalysis;
3. Major US Banks Report Key Quarterly Earnings, GS Beats Expectations;
4. Peter Schiff: US Debt And Interest Costs Threaten Fiscal Stability;

Stock futures were mixed on Tuesday, as traders weighed a slew of corporate earnings releases and rising oil prices while awaiting the release of key inflation data.

As of 03:25 PM Riyadh Time, Dow Jones Industrial Average futures fell 277 points, or 0.52%. S&P 500 futures were down 0.09%, while Nasdaq-100 futures rose 0.60%.

Semiconductor stocks rebounded after a sell-off in the previous session. The VanEck Vectors Semiconductor ETF(SMH.US) traded more than 2% higher in the premarket. Applied Materials, Inc.(AMAT.US) gained more than 4%, while Lam Research Corporation(LRCX.US), STMICROELECTRONICS(STMEF.US), Teradyne, Inc.(TER.US) and Micron Technology, Inc.(MU.US) all rose more than 3%.

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

CPI Data Cooled, Surpassed Expectations

Key inflation data for June revealed a surprising slowdown in core inflation:

1. Core CPI (YoY): The unadjusted core Consumer Price Index (CPI) rose 2.6% year-over-year, below the market expectation of 2.8%.
2. Core CPI (MoM): The unadjusted core CPI showed no growth (0%) month-over-month, marking the smallest increase since January 2021. This was significantly below the forecast of 0.2%.

The unexpected cooling of core inflation may ease market concerns about persistent price pressures and could influence future monetary policy decisions.

Latest Developments in the US-Iran Conflict

• The US will blockade Iranian ports starting at 4:00 AM on the 15th; Trump stated a 20% fee would be charged on cargo shipments and indicated potential future US management of the Strait of Hormuz.
• Trump stated on Monday (US Eastern Time) that severe strikes against Iran would be launched tonight and tomorrow, targeting "Gao Shan" (likely referring to an underground Iranian nuclear facility); he also noted that reaching an agreement with Iran remains possible.
• Multiple locations in Iran continue to face attacks, with Iran retaliating against US military facilities; meanwhile, Yemen's Houthi rebels and Saudi Arabia are exchanging fire, and the international airport in the Yemeni capital has been hit by an airstrike.
• The Iranian Foreign Ministry stated that the memorandum of understanding with the US has entered a "crisis" phase.

Analyst Dismisses Trump’s 20% Hormuz Transit Tariff Threat

Geopolitical analyst Brett Erickson deems Donald Trump’s proposed 20% tariff on ships transiting the Strait of Hormuz politically impossible, warns US-promoted Omani route is unsafe after Iranian attacks, and criticizes Trump’s war posture as heightening civilian, military and global shipping risks. Read in detail>>

Trump-Iran Escalation Lifts Oil, Pressures Global Equity Futures

Renewed US military strikes on Iran under Trump reignite hostilities, driving Brent crude above $85 and WTI to $79.87, while Dow Jones Industrial Average(DJI.US) futures fall 143 points, S&P 500 index(SPX.US) and NASDAQ-100(NDX.US) futures slip, and Asian indices retreat. Read in detail>>

Ark Invest Boosts SpaceX Stake, Trims AMD Exposure

Ark Invest increased SpaceX(SPCX.US) holdings across ARK Innovation ETF(ARKK.US), ARK Autonomous Technology & Robotics ETF(ARKQ.US), ARK Next Generation Internet ETF(ARKW.US), ARK Space Exploration & Innovation ETF(ARKX.US) by $21.3 million after a 35% post-IPO share pullback, while continuing to cut Advanced Micro Devices, Inc.(AMD.US) positions amid semiconductor sector profit-taking, supply-chain concerns, and broader tech risk aversion. Read in detail>>

AI Memory ETF Plunge Signals Broader Semiconductor Valuation Reset

Roundhill Memory ETF(DRAM.US) has fallen 30% from June peak, tracking a 21% drop in Micron Technology, Inc.(MU.US)amid a $1.5 trillion semiconductor selloff. Despite strong earnings and robust AI memory demand, investors are repricing debt-funded AI infrastructure and stretched valuations. Read in detail>>

Peter Schiff: US Debt And Interest Costs Threaten Fiscal Stability

• Peter Schiff warns that US federal debt has hit $39.4 trillion, up $16.3 trillion since 2020, while 10-year Treasury yields near 5% push annual interest expenses to a record $1.35 trillion. Real GDP growth slowing toward 1.3% heightens default, inflation, and fiscal-crisis risks. Read in detail>>
• SpaceX(SPCX.US) shares have fallen about 40% from post-IPO highs to near the $135–137 offer price, prompting Peter Schiff to link the decline to a fading AI boom and warn that high inflation, rising rates and wars could pressure overvalued US equities. Read in detail>>

SK Hynix Rise Over 6% Following Bullish Report From SemiAnalysis

Top research firm SemiAnalysis has released a report titled "Be Greedy When Others Are Fearful: SK hynix Inc. Sponsored ADR(SKHY.US)’s DRAM Pricing and Profitability Remain Strong," indicating that SK Hynix’s DRAM profitability is set to remain robust through the second quarter of 2026 and beyond. The report states that, despite recent market noise and revisions to pricing methodologies, the research team maintains its optimistic outlook for SK Hynix’s DRAM performance in Q2 2026.

Meta Stock Surges As AI Infrastructure Re-Rated By Market

Meta Platforms(META.US) jumped 21% in three weeks as Wall Street revalues its AI infrastructure, driven by monetization of Muse Spark 1.1 APIs priced 25% below OpenAI and Anthropic, custom Iris chips cutting compute costs, and potential third-party capacity leasing despite mixed year-to-date performance. Read in detail>>

Rocket Lab Rises On Neutron Engine Milestone, Iridium Deal

Rocket Lab(RKLB.US) shares gain 2.8% premarket after completing full-duration Archimedes AVac engine test for reusable Neutron rocket, while pursuing late-2026 debut and $8 billion acquisition of Iridium Communications Inc.(IRDM.US) to secure satellite network, spectrum, and 2.5 million subscribers. Read in detail>>

IBM Plunged 22% Pre-market After Q2 Revenue Missed Expectations

IBM Corp(IBM.US) shares plunged more than 22% in pre-market trading. Regarding the news, preliminary data for the second quarter showed revenue of $17.2 billion—a 1% increase but below the estimated $17.86 billion; within this, software revenue grew by 5%, while infrastructure revenue fell by 7%. Diluted earnings per share (EPS) stood at $2.27, down 2% year-over-year, while operating (non-GAAP) EPS was $2.93, up 5% year-over-year. Read in detail>>

Samsung Denies Plans For US American Depositary Receipts

SAMSUNG ELECTRONICS CO(SSNLF.US) stated it is not considering issuing American Depositary Receipts in the US, contradicting a prior Bloomberg report suggesting potential US share sales, easing speculation about near-term overseas equity fundraising or secondary listing plans. Read in detail>>

NextCure Merges With Avere, Backed By $320 Million Financing

NextCure(NXTC.US) to merge into private Avere Therapeutics via all‑stock deal; combined company will list on Nasdaq as Avere. Concurrent $320 million private financing and $251 million convertible swap expected to fund AVR‑001 IL‑23 programs through key Phase 2b/3 milestones. Read in detail>>

Major US Banks Report Key Quarterly Earnings, GS Beats Expectations

• Goldman Sachs Group, Inc.(GS.US) shares rose over 2% in pre-market trading; Q2 net revenue was $20.34 billion, with earnings per share (EPS) of $20.98. Q2 net interest income was $3.95 billion, exceeding the estimated $3.53 billion.
• Bank of America Corp(BAC.US) shares fell over 1% in pre-market trading; Q2 wealth and investment management revenue was $6.87 billion (expected: $6.61 billion); net interest income was $16.0 billion (expected: $15.92 billion); EPS was $1.21; and net revenue (net of interest expense) was $31.56 billion, surpassing the expected $30.49 billion.
• Jpmorgan Chase(JPM.US) shares fell nearly 3% in pre-market trading; Q2 adjusted revenue was $58.02 billion (expected: $51.39 billion). Q2 EPS was $7.70, and adjusted EPS was $6.14.
• Wells Fargo & Company(WFC.US) shares fell nearly 2% in pre-market trading; Q2 revenue was $22.62 billion (expected: $21.80 billion). Q2 EPS was $2.00. Q2 net interest income was $12.32 billion, matching the estimate of $12.32 billion. Read in detail>>

SemiLEDs EPS Surges Despite Sharp Revenue Contraction

SemiLEDs Corporation(LEDS.US) reported Q3 EPS of $0.18, up 500% year-on-year from $0.03, while quarterly revenue fell 48.59% to $9.074 million from $17.651 million, indicating significant profitability improvement driven by margin expansion or cost controls despite weakening sales. Read in detail>>