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12/17 08:57
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On Tuesday, U.S. stock index futures declined, with the Nasdaq futures dropping nearly 1%. White House officials announced that President Trump will make a statement regarding the Department of Defense on Tuesday. Major tech stocks fell in pre-market trading, with ASML down over 3%, NVIDIA and AMD down over 2%, and Google, Amazon, and Meta down over 1%.
Gold stocks rose in pre-market trading as gold prices surpassed $3,500, reaching a new high. Harmony Gold increased by over 6%, while Coeur Mining rose over 5%. Other gold stocks like New Gold, DRDGOLD, and Kinross Gold saw gains of nearly 3%.
Tesla released its "Master Plan Part IV," outlining a vision for a sustainable society through electric vehicles, energy products, and humanoid robots. The company emphasized the importance of innovation and self-reliance in technology to address real-world issues and promote economic growth.
Walmart+ members will soon receive free access to Comcast's Peacock Premium, adding to existing benefits. This new feature is expected to launch in mid-September, aiming to provide members with more streaming options.
Amazon announced plans to invest $4.4 billion in building a data center in New Zealand to meet the growing demand for cloud services. This investment is expected to create over 1,000 full-time jobs and contribute NZD 10.8 billion to the country's GDP.
NIO's stock rose over 1% in pre-market trading after reporting record high delivery and revenue guidance for Q3. The company expects deliveries between 87,000 and 91,000 units, marking a year-on-year increase of 40.7% to 47.1%.
PepsiCo's stock jumped over 4% following reports that Elliott Management plans to take significant action to boost its stock price. Elliott holds approximately $4 billion in PepsiCo shares.
Morgan Stanley's Chief Investment Officer, Michael Wilson, remains optimistic about the U.S. stock market, suggesting that any short-term pullbacks should be viewed as buying opportunities. He noted that the U.S. economy is entering an early cycle phase, with nominal earnings expected to rise.
Economists warn that the UK and France may soon face financial crises requiring foreign assistance due to unsustainable fiscal commitments. This situation could lead to rising debt repayment costs and political pressure on budgets.
Morgan Stanley predicts a "perfect storm" for precious metals, forecasting gold prices could reach $3,800 by year-end due to favorable conditions such as Fed rate cuts and a weaker dollar.
UBS anticipates that the Federal Reserve will initiate a series of four consecutive rate cuts starting in September, totaling a 100 basis point reduction, as inflation rates stabilize and labor market risks increase.
