US Stock Market Outlook: Tech Stocks Rise Ahead of Government Reopening, Circle Volatile.

Market Overview

On Wednesday morning, optimistic earnings reports and the impending end of the U.S. government shutdown boosted market sentiment. All three major U.S. stock index futures rose, with Dow futures up 0.2%, Nasdaq futures up 0.54%, and S&P 500 futures up 0.31%.

Tech Stocks Surge

Star tech stocks saw a pre-market rally, with AMD rising nearly 6%, Micron Technology up over 2%, and Nvidia and ASML both gaining over 1%.

Cryptocurrency Stocks

Most cryptocurrency-related stocks also increased, with Bitmine Immersion Technologies up over 4%, Cipher Mining up over 2%, and Coinbase, IREN Ltd, and MicroStrategy each rising over 1%.

Nuclear Power Stocks

Nuclear power stocks were up in pre-market trading, with Oklo Inc rising over 4% and NuScale Power nearly 3%.

AMD's Ambitious Growth Plans

AMD's CEO, Lisa Su, announced expectations for annual revenue growth exceeding 35% by 2030, with profits expected to more than double. The company aims to capture a double-digit market share in the AI data center chip market dominated by Nvidia.

Luckin Coffee's U.S. Re-Listing Plans

Luckin Coffee's CEO, Guo Jinyi, stated that the company is preparing to re-list in the U.S. after being delisted in 2020 due to financial irregularities. The company has since recovered and is now the largest coffee retailer in China.

Circle's Impressive Q3 Results

Circle reported a 202% year-over-year increase in net profit for Q3, with total revenue reaching $740 million, up 66%. However, its stock fell over 5% in pre-market trading.

Tencent Music's Strong Performance

Tencent Music's stock rose over 6% in pre-market trading after reporting Q3 revenue of 8.46 billion yuan, a 20.6% increase year-over-year, surpassing expectations.

Economic Outlook

The U.S. job market is showing signs of cooling, with layoffs rising sharply. The Federal Reserve is monitoring the impact of AI on employment, which could influence future monetary policy.

Global Oil and Gas Demand

The IEA's latest report predicts that global oil and gas demand will continue to grow until 2050, contradicting previous forecasts of peak fossil fuel consumption within this decade.

Investment Recommendations

Morgan Stanley advises investors to hold memory stocks rather than trying to time the market, highlighting the strong demand driven by AI data centers.

Upcoming Events

• FOMC members will be speaking later today, providing insights into monetary policy and economic outlook.