Hot news
On Friday, pre-market trading for the three major US stock index futures showed a general rise.
Pre-market trading for growth tech stocks showed mixed gains and losses, with micron technology rising more than 1%.
Pre-market trading for Oracle Corporation showed a rise of more than 6%, with an upward revision of the 2026 fiscal year revenue guidance and a target price increase by major banks after the earnings release.
$Oracle (ORCL.US)$Pre-market trading showed a rise of more than 6%. On the news side, Doug Kehring, Executive Vice President of Oracle, revealed at the company's financial analyst conference this year that the company's revenue for the 2026 fiscal year is expected to reach at least $66 billion, an upward revision of $6.5 billion from the company's previous guidance, and the new guidance exceeds the analyst's current mean estimate of $64.5 billion.
In addition, Oracle received a target price increase from major Wall Street banks after the earnings release, with Citigroup raising the target price from $140 to $157 and maintaining a "neutral" rating.
Q4 revenue outlook did not highlight the improvement of AI profitability, and Adobe's pre-market trading plummeted more than 8%.
$Adobe (ADBE.US)$Pre-market fell more than 8%, fourth-quarter revenue is expected to reach 5.5 billion to 5.55 billion USD, lower than the market's expectation of 5.6 billion USD. Excluding certain items, earnings per share will be 4.63 - 4.68 USD, while the market estimate is 4.68 USD. One of the highly anticipated new creative software business indicators, the annual net digital media revenue is expected to reach 0.55 billion USD in the fourth quarter, below the market expectation of 0.5611 billion USD.
Restoration Hardware surged more than 20% in pre-market trading, exceeding Q2 performance expectations.
Retail chain enterprise$Restoration Hardware (RH.US)$Pre-market rose more than 20%, the company reported earnings per share of 1.69 USD for the second quarter, exceeding the expected 1.56 USD, with sales of 0.82965 billion USD, surpassing the expected 0.82452 billion USD. The company expects revenue growth in the third quarter to be between 7% and 9%, adjusted operating margin between 15% and 16%, and demand growth between 12% and 14%.
Unity rose nearly 2% in pre-market trading, announcing the complete elimination of 'running fees' charged to game developers.
Game engine developer$Unity Software (U.US)$Uxin Technology rose nearly 2% before the market. On the news front, Unity announced in September last year that it would start charging "operational fees" to developers from January 1, 2024. However, according to an email sent by Unity last night, the company has now completely eliminated "operational fees". This policy has sparked criticism from many developers, eroding consumer trust in Unity and ultimately leading to the departure of the CEO.
Boeing fell more than 4% before the market, and the union decided to hold a strike tonight!
$Boeing (BA.US)$Before the market, Boeing's international mechanics and aerospace workers' association voted to launch the first strike since 2008, starting from midnight on Friday local time in the United States. This strike will force Boeing and the union back to the negotiating table. Previously, the two sides had reached an agreement, with Boeing guaranteeing a 25% wage increase for workers over four years, which is the most sincere wage increase ever offered by Boeing.
Miniso rose more than 3% before the market, and institutions pointed to its improved profitability and accelerated expansion of overseas direct stores.
$MINISO (MNSO.US)$Before the market, Shenwan Hongyuan Research's latest report indicated that the company's Q2 performance met expectations. The mainland China revenue showed high-quality growth, and TOP TOY's profitability continued to improve. Overseas stores continued to expand, and under the leadership of direct-sales markets, they will continue to drive the growth of gross profit margin in overseas operations and improve operational efficiency. In addition, the company has initiated a new round of share repurchase plan, announcing that it will repurchase up to 2 billion Hong Kong dollars of ordinary shares/American depositary shares on the open market in the next 12 months, demonstrating the management's confidence in the business prospects.
Beigene rose more than 2% in pre-market trading, the National Medical Products Administration accelerated the approval of clinical drugs.
$BeiGene (BGNE.US)$Rose more than 2% in pre-market trading, the State Council Information Office held a series of theme press conferences on "Promoting High-quality Development" today. Li Li, director of the National Medical Products Administration, introduced that the administration is speeding up the evaluation and approval of urgently needed clinical products, and will prioritize the review and approval process for eligible products, shortening the review and approval time for innovative drug clinical trials from 60 working days to 30 working days.
XPeng Motors rose more than 1% in pre-market trading, and its first extended-range vehicle will be put into production next year.
$XPeng (XPEV.US)$Rose more than 1% in pre-market trading. There is news that XPeng Motors' extended-range vehicle project has become clearer. The key components have been identified in the first half of this year, and the development of the first extended-range vehicle is in full swing. It is expected to go into production in the second half of 2025.
Faraday Future rose nearly 1% in pre-market trading, and the second brand release conference is scheduled for September 20th.
$Faraday Future Intelligent Electric Inc. (FFIE.US)$Pre-market trading is up nearly 1%, and the company plans to hold the second brand strategy and global automotive industry bridge conference at 8 a.m. on September 20th, Beijing time. According to Jia Yueting, the cost-effectiveness of this new car will subvert the traditional pattern of the automotive market in China and the United States.
Uxin surged nearly 29% in pre-market trading and is now up nearly 6%. Dida Chuxing plans to subscribe to 7.5 million Uxin shares for USD 7.5 million.
$Uxin (UXIN.US)$The stock surged in pre-market trading, once up nearly 29%, and now the increase has narrowed to nearly 6%. In terms of news, Dida Chuxing announced that its wholly-owned subsidiary Pintu Beijing signed a letter of intent with Uxin. According to this, Pintu Beijing agreed to subscribe for 1.543 billion A-class common shares of Uxin, and Uxin will deliver 5.1461 million American depositary shares at a price of USD 7.5 million. At the same time, Pintu Beijing will provide a loan of USD 7.5 million to Uxin for a period of 18 months.
Pinduoduo fell more than 5% in pre-market trading, reporting $91.94.
$PDD Holdings (PDD.US)$ Pre-market trading fell more than 5%, reporting $91.94.
Chip stocks have rebounded in recent days, with active trading in Nvidia and Broadcom call options.
$NVIDIA (NVDA.US)$After experiencing an 8% surge in the previous trading day, it rose over 2% overnight. In the options chain, call options are active with the most trading volume being in the call contract expiring today with a strike price of $120, with a volume of 0.4154 million contracts traded. This is followed by the call contract expiring today with a strike price of $119, with a volume of 0.179 million contracts traded.
In addition, multiple call options expiring today have gained significant profits, with the most vigorous increase exceeding 60%.
On the news front, the CEOs of NVIDIA, Huang Renxun, and OpenAI CEO Sam Altman, along with other bosses of American tech giants, visited the White House and met with senior officials of the Biden administration and other industry leaders to discuss how to meet the huge infrastructure demands of artificial intelligence projects. A White House official said that the discussions revolve around strengthening public-private cooperation in the development of artificial intelligence data centers in the United States.
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Global macro
Has the pullback in the US stock market ended? Deutsche Bank raised its target price for the s&p 500: three major bullish factors support the US stock market to reach new highs.
On Thursday Eastern Time, Deutsche Bank raised its year-end target for the S&P 500 index from 5500 points to 5750 points. The reason is increased stock buybacks, strong corporate profits, and strong inflows driven by strong risk appetite. Since August, the U.S. stock market has experienced significant volatility. However, according to Deutsche Bank analysts, this oscillation and pullback phase has basically ended, and the U.S. stock market will continue to rise in the future.
The former Fed 'three-headed monster' said: it is still necessary to cut interest rates by 50 basis points next week!
Former New York Fed President Dudley said on Friday that there is still a possibility of a 50 basis point rate cut at next week's Fed meeting. He called for a 50 basis point rate cut next week, citing a slowdown in the U.S. labor market. He pointed out that the risks facing employment in the United States are greater than the sustained challenges faced by inflation. He also emphasized Fed Chairman Powell's speech in Jackson Hole last month, where Powell emphasized that he did not want to see further weakness in the job market.
Fitch Ratings: The Fed should cut interest rates moderately over the next two years, rather than hastily. It is expected that the Fed will cut interest rates by 25 basis points at its meetings in September and December this year, and then cut interest rates by 125 basis points and 75 basis points in 2025 and 2026 respectively. This means that the Fed will cut interest rates 10 times in the next 25 months, with a total rate cut of 250 basis points. By historical standards, this is definitely considered a slow and moderate interest rate cut cycle.
Fitch Ratings predicts in its report that the Fed will cut interest rates by 25 basis points at its meetings in September and December this year, and then cut interest rates by 125 basis points and 75 basis points in 2025 and 2026 respectively. This means that the Fed will cut interest rates 10 times in the next 25 months, with a total rate cut of 250 basis points. By historical standards, this is definitely considered a slow and moderate interest rate cut cycle.
The momentum of the "50 basis points theory" for the Fed's interest rate cuts is rising again, and the price of US bonds is rising accordingly.
Due to the increased likelihood of a 50 basis point rate cut by the Federal Reserve next week, short-term bond prices have risen. Last Friday, the yield on the two-year US bonds, which is sensitive to policy changes, fell by 5 basis points to 3.59% in the Asian market, while the yield on the 10-year Treasury bond fell by 3 basis points to 3.65%. As a result, the US dollar declined and boosted major currencies. The Fed is expected to cut the benchmark interest rate for the first time in over four years at the end of the two-day meeting next Wednesday.
Will the Federal Reserve sound the signal for interest rate cuts? Goldman Sachs recommends small-cap stocks for gold mining.
Ashish Shah, Chief Investment Officer for Public Investments at Goldman Sachs Asset Management, suggested in an interview that investors should focus on small cap stocks because the market generally expects the Federal Reserve to start lowering interest rates. Shah pointed out that with the rate cut, small companies with a higher proportion of floating rate loans would be the primary beneficiaries. However, he also cautioned investors to consider the quality of loans when making investment decisions.
Bilibili rose more than 3% pre-market trading and was upgraded to "buy" by UBS, which raised its EPS estimate per share.
Reminder for US Macro Events
(All in Peking Time)
20:30 US August Import Price Index Monthly Rate
22:00 Preliminary Consumer Confidence Index for September from the University of Michigan in the US.
22:00 Preliminary One-Year Inflation Rate Expectations for September in the US.
The next morning
01:00 Total number of oil rigs in the US for the week ending September 13th.
Editor/ping