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12/17 05:26
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On Monday morning, US stock futures showed slight declines, with the Nasdaq futures down by 0.2%.
Most prominent tech stocks, including Nvidia, Tesla, AMD, and Apple, experienced minor drops in pre-market trading.
In contrast, many Chinese stocks rose before the market opened. Notable gains included:
Xpeng Motors is set to announce its mid-term results tomorrow, with analysts predicting a potential narrowing of net losses due to increased sales.
SaaS company Dayforce is reportedly in advanced negotiations for privatization by private equity firm Thoma Bravo. The acquisition could be announced in the coming weeks, although delays or competing bids are possible. Dayforce shares surged nearly 27% in pre-market trading, reaching $67, with a market cap of approximately $8.4 billion.
Kingsoft Cloud shares rose in pre-market trading, with its H-shares up over 6%. The company is expected to release its earnings report on August 20, with forecasts indicating a revenue increase of 17.05% year-over-year.
Novo Nordisk's drug Wegovy received FDA approval for treating MASH, leading to a stock price increase of up to 5%. This approval expands its use from weight loss to liver disease treatment, a significant development for the company.
Tesla is offering discounts of up to 40% to UK leasing companies as it faces a 60% drop in sales compared to last year. The average cost of leasing a Tesla has halved, reflecting the company's efforts to boost sales amid increasing competition.
President Trump is scheduled to meet with Ukrainian President Zelensky on August 18, followed by discussions with European leaders regarding the Ukraine crisis.
Wall Street is focused on the upcoming Jackson Hole meeting, where Fed Chair Powell will address economic and interest rate outlooks. Market expectations are leaning towards a 25 basis point rate cut next month.
Cryptocurrency exchange Gemini has filed for an IPO, aiming to capitalize on favorable market conditions. The company reported $67.91 million in revenue for the first half of the year but incurred a loss of $282 million.
Bank of America has raised concerns about a potential stock market bubble driven by AI investments, highlighting that the current price-to-book ratio is at a historical high. Meanwhile, JPMorgan warns that while the S&P 500 and Nasdaq have reached record highs, investors should remain cautious of macroeconomic risks.
