US Stock Market Outlook: Futures Dip, Fed Rate Cut Expected, NIO Rises.

US Stock Market Overview

On Monday morning, US stock futures showed slight declines, with Dow futures down 0.21%, Nasdaq futures down 0.29%, and S&P 500 futures down 0.22%.

Major Tech Stocks Performance

Most major tech stocks were weaker in pre-market trading. Notable movements included:

• Nvidia, Tesla, and Apple saw minor declines.
• AMD and Amazon dropped nearly 1%.
• Intel rose nearly 2%.
• Alibaba increased over 3%.

Chinese Stocks and Cryptocurrency Stocks

Chinese stocks generally performed well, with NIO rising nearly 6%, Alibaba up over 3%, Baidu up nearly 3%, Pinduoduo up over 2%, and JD.com up over 1%. However, Xpeng Motors fell nearly 1%.

Cryptocurrency-related stocks mostly declined, with Strategy down over 4%, MARA Holdings and BMNR down nearly 4%, and Coinbase down nearly 3%. ALTS rose nearly 2%, while SOFI saw a slight increase.

Pinduoduo's Q2 Performance

Pinduoduo's stock surged over 11% at one point, following its Q2 earnings report that exceeded expectations. Key figures included:

• Q2 revenue: 103.985 billion RMB, a 7% year-on-year increase.
• Net profit: 30.754 billion RMB, a 4% decline year-on-year.
• Adjusted net profit: 32.708 billion RMB, a 5% decline year-on-year, exceeding market expectations.

NIO's Target Price Upgrade

NIO's stock rose nearly 6% after Citigroup set a target price of $8.10, citing five reasons for a "buy" rating:

1. Anticipated production of the L90 model to exceed 10,000 units by September 2025.
2. Potential sales of the new ES8 model could significantly improve overall gross margins.
3. Expected net profit breakeven by Q4 2025 due to strong sales momentum.
4. Favorable tax policies for battery costs under the BaaS model.
5. Launch of the ES9 and L80 models in H1 2026.

BeiGene's Licensing Agreement

BeiGene's stock rose nearly 3% after announcing a licensing agreement with Royalty Pharma, which involves an $885 million payment for rights to certain monoclonal antibody products.

Ethzilla's Fundraising Plans

Ethzilla's stock increased over 3% as it raised its fundraising target to $10 billion to support ETH purchases, following a revised sales agreement.

Keurig Dr Pepper's Acquisition Deal

Keurig Dr Pepper's stock fell nearly 5% as it nears a deal to acquire European coffee company JDE Peet for approximately $18 billion.

Apple’s Major Design Overhaul

Apple plans a significant redesign over the next three years, introducing new models including a thin "iPhone Air" and a foldable iPhone by 2026, marking a renewed focus on flagship product design.

Federal Reserve Rate Cut Expectations

Following Fed Chair Powell's remarks, major banks adjusted their expectations for a 25 basis point rate cut in September, with predictions of two cuts this year. Barclays and BNP Paribas have shifted their forecasts accordingly.

Jefferies Raises S&P 500 Target

Jefferies has raised its S&P 500 target to 6,600 points, citing strong corporate earnings, aligning with other major banks that have also increased their targets.

Upcoming Economic Data

The upcoming employment and CPI data on September 5 and 11 will be crucial in determining the Fed's rate cut decision.

Hong Kong Monetary Authority Update

The Hong Kong Monetary Authority has officially launched optimized arrangements for offshore RMB bond repurchase operations, receiving positive market feedback.

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