01 Stock Market
As of Oct 13, U.S. stock index futures performed as follows: Dow Jones futures rose 0.73% to 52,491.00, while S&P 500 futures fell 0.09% to 7,851.00 and Nasdaq 100 futures declined 0.75% to 30,666.50. The setup pointed to a split tone before the open, with industrials holding up better than growth-heavy benchmarks. Cash-market readings also leaned mixed, as the Dow Jones rose 0.38% and the S&P 500 slipped 0.06%, while NASDAQ fell 0.44%.
Notable Stock Movers: UnitedHealth up 3.47% at $391.65 after raising its profit forecast, and Goldman Sachs up 4.51% in premarket trading after reporting stronger quarterly profit. Domino's Pizza fell 3% at $301.74 after missing same-store sales estimates. In the chip complex, NVIDIA down 0.87% at $224.35, Apple up 0.80% at $343.69, Micron Technology fell 4.08% at $948.72, Advanced Micro Devices fell 1.89% at $583.00, Broadcom fell 1.47% at $349.50, and Marvell Technology fell 3.33% at $257.00. Among other notable names, Seagate Technology fell 5.87% at $709.00, while JPMorgan Chase rose 0.39% at $335.60. The moves underscored pressure in semiconductors and data-storage names, alongside selective strength in financials and healthcare.
Additional movers: REUTERS-reported premarket gainers also included Wells Fargo and Johnson & Johnson after earnings updates, while Meta Platforms fell 1.13% at $734.55, Tesla fell 0.81% at $374.97, and Amazon was described as down around 1% in premarket commentary.
02 Other Markets
• 10-year U.S. Treasury yield fell 1.00%, to 5.19%.
• U.S. Dollar Index fell 0.2828% to 102.27.
• WTI crude oil futures fell 1.43% to 92.40 USD/barrel; COMEX gold futures rose 0.47% to 4210.50 USD/ounce.
03 Key News
1. Nvidia said its shares were slipping as Broadcom and Microsoft reshaped chip-market expectations. Dow Jones reported that Nvidia moved lower in premarket trading after Broadcom’s chief made skeptical remarks about some AI investors and Microsoft introduced its latest custom AI chip. The update added to worries that some customers may increasingly use in-house processors rather than third-party chips. Semiconductor shares broadly weakened alongside Nvidia.
2. Goldman Sachs reported higher quarterly profit as trading and dealmaking held up. Reuters said the bank’s equities business delivered a sharp jump in revenue, helping offset a softer fixed-income, currency and commodities result. Management said volatile markets supported trading activity, and the shares rose in premarket trading. The report highlighted how market swings can still benefit large Wall Street trading desks.
3. UnitedHealth raised its profit outlook after a quarterly earnings beat. Reuters said the company benefited from tighter medical-cost spending and improved margins at Optum. The insurer also reported a better-than-expected medical cost ratio, reinforcing progress in its turnaround. Shares gained in premarket trading after the outlook increase.
4. Wells Fargo posted higher profit on loan growth and stronger interest income. Reuters reported that the lender’s third-quarter net income improved from a year earlier, reflecting a healthier loan book and better earnings from lending activity. The result signaled that higher rates and balance-sheet growth continued to support core banking income. The stock was among the financial names supported by earnings season.
5. Johnson & Johnson beat earnings estimates, led by strong pharmaceutical sales. Reuters said the company’s immune-disease treatment Tremfya helped lift results, while medical-device sales were softer. The firm’s adjusted earnings and revenue both came in ahead of Wall Street expectations. Management said international demand remained constrained by geopolitical and pricing pressures.
6. Domino’s Pizza missed same-store sales estimates as consumers pulled back. Reuters reported weaker U.S. and international same-store sales growth, even though the company beat revenue and profit estimates on supply-chain strength. The numbers suggested a more cautious consumer environment amid inflation pressure. Shares fell in premarket trading after the report.
7. The IMF warned that a reversal in AI spending could hurt the U.S. economy and asset prices. Dow Jones reported that the fund outlined a downside scenario in which weaker AI profits and productivity gains would trigger reduced investment and tighter financial conditions. The forecast pointed to sizable pressure on U.S. stocks and broader global markets if AI enthusiasm fades. The analysis added to anxiety around richly valued tech shares.
8. U.S. and European banking regulators are stepping up scrutiny of artificial intelligence risk. Reuters said supervisors are asking banks how they use advanced AI models, including whether they rely on Chinese-developed technology and AI agents in cyber defense. Officials are concerned about cybersecurity, recovery planning, and the possibility of autonomous systems creating financial instability. The review suggests tighter governance expectations for banks using frontier AI tools.
9. China said it will cut export tax rebates on new-energy vehicles. Dow Jones reported that the Finance Ministry and tax authorities plan to lower the rebate rate, a move that could squeeze margins for automakers and encourage industry consolidation. The policy change comes as domestic demand softens and competition remains intense. It may also affect Chinese exporters that rely on overseas sales for growth.
10. Elon Musk disclosed that he has spent hundreds of millions of dollars on Republican campaign efforts. Reuters reported that the spending could influence politics around his businesses, including SpaceX, which faces possible scrutiny from lawmakers. The disclosure underscored the scale of political involvement by one of the world’s richest individuals. It also highlighted the intersection between corporate interests and election spending.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.