Most Important News

1. Dallas Fed Warns of Potential Fed Misjudgment on Labor Market;
2. Morgan Stanley Warns of S&P 500 Drop Amid Trade Tensions;
3. Tech Stocks Surge in Pre-Market Trading;
4. Apple Set to Unveil Three New Products Featuring M5 Chip;

US stock futures rose Monday, rebounding from Friday’s sell-off after President Donald Trump said trade relations with China “will all be fine.”

As of 03:58 PM Riyadh Time, Dow Jones Industrial Average futures jumped by 403 points, or nearly 0.88%. S&P 500 futures and Nasdaq-100 futures climbed 1.61% and 1.13%, respectively.

As of 03:56 PM Riyadh Time, top pre-market movements are as follows:

Dallas Fed Warns of Potential Fed Misjudgment on Labor Market

The Dallas Federal Reserve cautioned that the Federal Reserve and many economists might have misjudged the labor market. A recent report suggests the Fed may be misinterpreting labor dynamics, raising concerns that premature rate cuts could prove disastrous while inflation remains high. The findings underscore the risks of easing monetary policy too quickly, potentially exacerbating economic imbalances.

Goldman Trader Says Recent Market Activity Reflects "Protection" Not "Exit

Goldman Sachs trader Lee Coppersmith observed that last Friday's US stock market behavior was more about risk management through derivatives like options rather than massive stock sell-offs. Despite record options trading, spot stock trading was calm, with S&P 500 volume only 9% above average. Investors are wary of systemic sell-off triggers, while AI developments and labor market concerns remain key themes for the upcoming earnings season.

Morgan Stanley Warns of S&P 500 Drop Amid Trade Tensions

Morgan Stanley(MS.US) strategist Michael Wilson cautioned that unresolved trade tensions by November could lead to an 11% drop in US stocks. He projected the S&P 500 might fall to 5800-6027 points, an 8%-11% decline from last Friday's close. Wilson noted that high investor exposure and elevated valuations are pressuring the market, with recent trade escalation exceeding expectations.

Morgan Stanley Signals End of 4% Era for US Treasury Yields

Morgan Stanley(MS.US) highlighted that escalating US government shutdowns and renewed trade tensions are eroding market optimism. The firm warned that these external shocks are driving the economy into a deeper slowdown. Investors should prepare for the benchmark US Treasury yield to drop below 4%, marking the end of the "4% era."

US Government Shutdown Day 12: VP Warns of Increased Layoffs

As the US government shutdown reached its 12th day, Vice President JD Vance warned that prolonged shutdowns could lead to larger federal layoffs. This raises uncertainty for hundreds of thousands of furloughed workers. Meanwhile, Congress remains deadlocked over budget issues, with no resolution in sight.

Tech Stocks Surge in Pre-Market Trading

In pre-market activity, tech stocks experienced notable gains. Micron Technology, Inc.(MU.US) rose over 4%, while Advanced Micro Devices, Inc.(AMD.US) increased by more than 3%. Additionally, Tesla Motors, Inc.(TSLA.US) and NVIDIA Corporation(NVDA.US) saw their shares climb over 2%.

Gold Prices and Mining Stocks Rise Pre-Market

Spot gold reached $4,080 per ounce, boosting gold-related stocks. Namib Minerals. Ordinary Shares(NAMM.US) surged over 16%, while Coeur Mining, Inc.(CDE.US) saw an increase of more than 6% in pre-market trading. 

Rare Earth Stocks Rally in Pre-Market Trading

US rare earth stocks surged pre-market, with Liberty All Star Equity Fund(USA.US) Rare Earth jumping over 16% and Critical Metals Corp. Ordinary Shares(CRML.US) climbing more than 18%. Energy Fuels Inc.(UUUU.US) increased by over 11%, United States Antimony Corporation(UAMY.US)rose more than 13%, and MP Materials Corporation Ordinary Shares - Class A(MP.US) saw an 8% gain. 

Apple Set to Unveil Three New Products Featuring M5 Chip

Tech journalist Mark Gurman reports that Apple Inc.(AAPL.US) is likely to announce three new products this week via an online event. These include the iPad Pro, Vision Pro, and MacBook Pro, all featuring the debut of the M5 chip. Following this news, Apple shares rose over 1% pre-market.

Tesla Begins Q4 Ramp-Up at Shanghai Gigafactory

Tesla Motors, Inc.(TSLA.US)'s Global Vice President Tao Lin revealed on social media that the Shanghai Gigafactory has started ramping up production for the fourth quarter. She also noted that Tesla delivered 497,000 vehicles globally in Q3 2025, setting a new quarterly delivery record. Tesla shares gained over 2% pre-market.

Hesai Surges Over 5% Pre-Market as Milestone Achieved

Hesai Group(HSAI.US) shares rose over 5% pre-market to $23.62. The company announced the production of its one millionth lidar unit for 2025 by the end of September, becoming the first to achieve this milestone. Hesai aims to continue setting industry standards with its large-scale production capabilities. This achievement marks a significant step toward its goal of equipping 1% of global vehicles with 3D sensing by 2025.

Goldman Sachs Raises Alibaba Capex Forecast Amid AI Growth

Alibaba Group Holding Ltd. Sponsored ADR(BABA.US) shares rose over 4% pre-market as Goldman Sachs increased its three-year capital expenditure forecast to CNY460 billion, marking one of Wall Street's boldest predictions. Analysts believe AI spending is reshaping growth expectations. Despite recent profit-taking, breakthroughs in AI cloud capabilities and international expansion potential are driving stock momentum. By fiscal 2028, international operations are expected to contribute 25% of Alibaba Cloud's external revenue.

• Solidion Technology(STI.US) surged over 93% pre-market after unveiling a cutting-edge UPS battery system tailored for AI data centers. 
•  ESS Tech, Inc. Common Stock(GWH.US)'s stock jumped over 36% pre-market following a remarkable 141% increase in the previous trading session. 
• BLOOM ENERGY CORP(BE.US)'s stock climbed over 34% pre-market after announcing a $5 billion partnership with Brookfield.