US Market Outlook: Fed Minutes Awaited, Gold Surges, Space Stocks Rally

Market Overview

On Wednesday morning, major U.S. stock index futures showed slight gains, with Dow futures up 0.26% and Nasdaq futures up 0.2%.

Tech Stocks Performance

Most star tech stocks were up in pre-market trading, with AMD rising over 1%. Popular Chinese concept stocks also saw gains, including Pony.ai, which increased by more than 2%.

Gold Prices Surge

Gold prices reached new highs, with spot gold rising over 1.4% in a single day. U.S. gold-related stocks also saw widespread gains in pre-market trading, including:

• TRX Gold surged over 29%
• Harmony Gold rose over 3%
• Other notable gains included Pan American Silver and Barrick Mining, both up over 2%.

Amazon and Tesla Updates

Amazon's stock saw a slight increase as the company plans to invest $1.16 billion in Belgium by 2027 to optimize its supply chain.

Tesla's stock also rose slightly in pre-market trading, despite a 4.45% drop overnight. The price of the base Model Y has fallen below $40,000, with significant changes in features.

Fed's Internal Disputes

The Federal Reserve is experiencing internal conflicts regarding interest rate cuts, exacerbated by a government shutdown that has hindered access to key data. Some officials are concerned about inflation, while others focus on the job market.

The upcoming minutes from the September meeting may reveal the extent of these divisions, especially after the Fed's first rate cut of the year.

Economic Indicators

Recent data indicates increasing financial anxiety among Americans, with expectations of rising inflation and declining household financial outlooks.

Gold Price Milestone

Spot gold has historically surpassed $4,000 per ounce, marking a year-to-date increase of over 50%. This surge is attributed to various factors, including the U.S. government shutdown and global political uncertainties.

Global Political Developments

Russian President Putin emphasized the need to achieve all objectives set for the special military operation, asserting that the strategic initiative lies with the Russian armed forces.

Upcoming Events

Key upcoming events include speeches from Federal Reserve officials and the release of the EIA crude oil inventory data.

• 21:30: Fed Governor Barr speaks
• 22:30: EIA crude oil inventory data
• 02:00: Fed monetary policy meeting minutes released

This summary encapsulates the current market trends and significant economic indicators affecting investor sentiment.