US Market Outlook: Trump Urges Iran Talks, Military Plans, Oil Stocks Rise, SpaceX Filing Soon

US Stock Futures Decline Ahead of Market Open

As of the latest update, US stock futures for the three major indices are all down. The Dow futures have dropped by 0.92%, Nasdaq futures by 1.15%, and S&P futures by 0.97%.

Pre-Market Performance of Major Tech Stocks

In pre-market trading, major tech stocks are experiencing widespread declines. Notable drops include:

• ASML down nearly 3%
• Micron Technology (MU) down over 2%
• Advanced Micro Devices (AMD) down nearly 2%
• Tesla (TSLA), Nvidia (NVDA), Meta Platforms (META), and Broadcom (AVGO) all down over 1%

Chinese Stocks and Storage Sector

Most popular Chinese stocks are also down in pre-market trading, with Baidu (BIDU), Alibaba (BABA), and GDS all falling over 3%. TSMC (TSM) is down nearly 2%, while Pinduoduo (PDD) is down over 1%.

In the storage sector, SanDisk (SNDK) has dropped nearly 4%, and Micron Technology (MU) is down over 2%.

Google Launches TurboQuant Compression Algorithm

Google has introduced a new compression algorithm called TurboQuant, claiming it can achieve approximately six times memory savings for AI applications. This technology aims to address memory bottlenecks in AI systems without requiring model retraining.

ASML Faces Labor Strikes

ASML is facing significant labor unrest, with over 4,500 employees participating in a strike against the company's plan to cut 1,700 jobs. The strike was organized by labor unions and included a two-hour work stoppage.

Fundrise Innovation Fund Surges

The Fundrise Innovation Fund (VCX) has seen a pre-market surge of over 15%, accumulating a staggering 1,116% increase since its listing. The fund's largest holding is Anthropic, making up 20.7% of its portfolio.

Destiny Tech100 Continues to Rise

Destiny Tech100 (DXYZ) has continued its upward trend, rising 7% in pre-market trading. Reports indicate that SpaceX plans to submit its IPO prospectus soon, aiming to raise over $75 billion.

Sony and Honda Halt Electric Vehicle Plans

Sony (SONY) and Honda (HMC) have announced the termination of their Afeela electric vehicle project due to a reevaluation of Honda's electrification strategy.

Weibo's Target Price Cut

Weibo (WB) has faced target price reductions from several major banks following its earnings report, with Nomura and Goldman Sachs both adjusting their forecasts downward.

Navan Reports Strong Q4 Results

Navan (NAVN) has reported a 35% revenue increase in Q4 and achieved positive free cash flow for the first time, leading to a pre-market surge of over 17%.

MillerKnoll's Q3 Earnings Miss Expectations

MillerKnoll (MLKN) has reported a slight miss in Q3 earnings, with a net sales increase of 5.8% but lower-than-expected profits due to rising logistics costs from the Middle East conflict.

Citigroup Raises Amazon's Target Price

Citigroup has raised its target price for Amazon (AMZN) to $285, citing favorable conditions for AWS due to its partnerships with Anthropic and OpenAI.

BitMine Launches Ethereum Staking Platform

BitMine Immersion Technologies (BMNR) has launched an institutional-grade Ethereum staking platform, aiming to support both its holdings and external clients.

Conclusion

The pre-market trading session reflects a cautious sentiment among investors, with significant declines in major tech stocks and mixed news from various sectors.