01 Stock Market
As of Aug 11, U.S. stock index futures performed as follows: Modest gains were evident across the board, with Dow Jones contracts up 0.11%, S&P 500 futures higher by 0.15%, and Nasdaq 100 futures leading with a 0.30% advance. The uptick followed a calmer Treasury session and softer crude-oil prices, offering investors early confidence after a choppy week dominated by earnings headlines and macro-policy signals.
Notable Stock Movers: SE jumped 8.89% at $125.00 after upbeat e-commerce results, while chip leader NVDA rose 1.06% at $219.85 amid fresh AI-infrastructure initiatives. Bitcoin miner-turned-AI-host RIOT climbed 14.64% at $22.24 on a long-term data-center deal. Conversely, semiconductor giant INTC traded down 1.18% at $96.37 as investors digested its enlarged equity sale. These moves set a mixed tone for sector rotation, with growth and AI themes still drawing pre-bell attention.
Overall, early price action highlights a continued preference for AI-linked hardware and select high-growth names, even as dilution concerns weigh on some large-cap incumbents. Traders will watch whether today’s modest futures strength can extend into the cash session amid a heavy slate of earnings releases and geopolitical headlines.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.23%, to 4.71%.
• U.S. Dollar Index rose 0.0531% to 99.86.
• WTI crude oil futures rose 0.22% to 82.31 USD/barrel; COMEX gold futures rose 0.55% to 4444.00 USD/ounce.
03 Key News
1. Sea Ltd reported quarterly revenue up 48.9%, beating estimates and lifting pre-market shares nearly 9%. Robust Shopee e-commerce growth and a 58.9% jump in fintech revenue drove sales to $7.79 billion, outpacing LSEG consensus. Management cited expanding AI-powered recommendations and logistics scale as key tailwinds.
2. On Holding disappointed investors with second-quarter net sales of 850.3 million Swiss francs, sending shares down 14% pre-market. Weaker U.S. demand and tariff costs dragged performance, yet the Swiss sportswear maker raised its full-year gross-margin outlook to at least 65% and reiterated a targeted revenue range of 3.47-3.56 billion francs.
3. Intel upsized its common-stock sale to $20 billion, pricing 210.5 million shares at $95 each. Net proceeds of about $19.7 billion will fund capital spending as the chipmaker accelerates advanced-node foundry projects. Underwriters hold a 30-day option for an additional 31.6 million shares.
4. SK Hynix will restart Phase II construction at its Dalian NAND plant, boosting China capacity roughly 50%. Equipment imports will conclude this year, with first output targeted for early next year. The move answers surging enterprise-SSD demand tied to AI data-center expansion and soaring NAND prices.
5. Riot Platforms secured a 20-year, 191-megawatt lease for an AI-focused data-center hub, projecting up to $9.1 billion in revenue. The diversification beyond Bitcoin mining signals a strategic push into high-performance computing infrastructure, sparking a 23% pre-market surge in the stock.
6. Shein is preparing to launch a Hong Kong IPO targeting a $30-$40 billion valuation as early as next week, according to Reuters sources. The fast-fashion giant seeks fresh capital after posting a recent quarterly loss tied to tariff changes and higher costs, marking a sharp reset from its 2022 peak valuation of $98 billion.
7. Pakistan’s defense minister signaled a potential U.S.–Iran arrangement, prompting a swift pullback in global crude prices. Comments that negotiations were “very close” eased supply-disruption fears, trimming Brent and WTI futures and supporting calmer equity-futures sentiment ahead of the U.S. open.
8. President Trump outlined three strategic options toward Iran—monitor, strike, or impose economic pressure—highlighting rising geopolitical uncertainty. He claimed U.S. control over significant Iranian assets, while reports of a vessel attack in the Bab el-Mandeb Strait underscored regional risks and kept energy markets volatile.
9. The Reserve Bank of Australia left its cash rate at 4.35% but warned further hikes remain possible to tame inflation. Policymakers cited a slowing domestic economy yet persistent price pressures; swap markets now assign a roughly 40% chance of another increase later this year.
10. Japanese media reported the Bank of Japan may raise rates again at its September meeting to address inflation and yen weakness. Leaked views from recent BOJ minutes suggest some board members favor faster normalization, challenging prior expectations of a prolonged pause in tightening.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
