Loading...
12/17 05:34
Loading...
On Friday, the U.S. reported a seasonally adjusted non-farm payroll increase of 22,000 for August, falling short of the expected 75,000. The previous value was revised from 73,000 to 79,000. The unemployment rate for August stood at 4.3%, matching expectations but up from 4.2% previously. Following the employment data release, U.S. stock futures saw a slight uptick, with Nasdaq futures rising by 0.72%. Short-term interest rate futures also increased, indicating traders' bets on further rate cuts by the Federal Reserve.
Tech Stocks: Mixed performance with Broadcom up nearly 14% and Tesla rising over 2%, while AMD fell close to 2%.
Chinese Stocks: Most pre-market Chinese stocks rose, with Alibaba increasing nearly 3% and Pinduoduo up over 2%.
Tesla's board proposed a new compensation plan for Elon Musk, potentially worth $1 trillion if he meets a series of challenging goals over the next decade. Musk will not receive a salary or bonuses; instead, his compensation will be in stock, contingent on significant increases in Tesla's market value and profitability.
Nvidia plans to replace the intermediate substrate material in its new generation Rubin processors from silicon to silicon carbide (SiC) to enhance performance. TSMC is collaborating on the development of this technology, with the first generation of Rubin GPUs still using silicon substrates.
Apple achieved record sales of nearly $9 billion in India last fiscal year, reflecting growing consumer demand as the company expands its retail presence in the country. This marks a 13% increase from the previous year's $8 billion, with iPhones making up a significant portion of sales.
Lululemon's stock fell nearly 19% pre-market after reporting Q2 revenue of $2.53 billion, slightly below expectations. The company also lowered its full-year guidance, anticipating earnings per share between $12.77 and $12.97, significantly below the market's expectation of $14.45.
Broadcom's stock rose over 11% pre-market after reporting better-than-expected Q3 earnings and announcing a partnership with OpenAI to produce AI chips, reducing reliance on Nvidia. The company reported adjusted earnings of $1.69 per share, exceeding estimates.
Amazon's Kuiper satellite internet project has secured its first airline customer, JetBlue, expected to provide satellite network services starting in 2027. This partnership aims to offer a more stable and high-speed internet experience.
Figma reported Q2 revenue of approximately $249.6 million, a 41% year-over-year increase, but slightly below analyst expectations. The company holds about $908 million in Bitcoin ETF.
Former President Trump hinted at significant upcoming semiconductor tariffs, suggesting that companies manufacturing in the U.S. might be exempt. This follows his previous announcement of a potential 100% tariff on chip products.
The U.S. labor market may face a downward revision of up to 800,000 jobs when the Bureau of Labor Statistics releases its preliminary estimates next week, indicating a slowdown in employment growth.
Market analysts are increasingly concerned about the potential loss of Federal Reserve independence amid rising political pressure from the Trump administration, particularly following recent nominations and threats against Fed officials.
Goldman Sachs analysts noted that while many companies are discussing AI, few can directly link it to profit increases. A recent survey indicated that over 80% of companies reported no substantial impact from generative AI on their profits.
Japanese Prime Minister Kishida reaffirmed his intention to remain in office after successfully negotiating a reduction in U.S. auto tariffs, indicating he may not tie trade agreements to his political future.
