01 Stock Market
As of Oct 8, U.S. stock index futures performed as follows: Dow Jones futures fell 0.79% to 51043.00; E-mini Nasdaq 100 futures fell 0.71% to 31180.75; and E-mini S&P 500 futures fell 0.46% to 7816.75. The weaker tone reflected pressure from elevated Treasury yields and a softer risk appetite across technology and growth shares. The broader cash market also finished lower, with the Dow Jones down 0.66%, the S&P 500 down 0.22%, and the NASDAQ down 0.22%.
Notable Stock Movers: In the semiconductor space, NVIDIA fell 1.03% at $235.03, Advanced Micro Devices fell 1.68% at $635.00, Broadcom fell 1.60% at $370.49, and Taiwan Semiconductor Manufacturing fell 1.55% at $464.90. Micron Technology fell 1.85% at $1067.88, while Marvell Technology fell 2.66% at $277.10 and Western Digital fell 1.51% at $399.30. On the upside, Palantir Technologies up 2.24% at $198.46 and Apple up 0.15% at $337.17. Among smaller names with sharper moves, Wolfspeed surged after a government loan commitment, Applied Digital gained after earnings, and Argenx fell sharply after a trial halt.
Additional pre-bell trading pressure was visible in memory and networking names, while a few software and AI-adjacent stocks held up better. NEBIUS fell 2.28% at $231.74, CoreWeave fell 2.37% at $86.35, ConocoPhillips was not listed in U.S. premarket data here, and no unretrieved stock names are included. In the broader active list, SOXL fell 6.29% at $148.91 while SOXS rose 6.18% at $32.55, underscoring defensive positioning in semiconductors.
02 Other Markets
• 10-year U.S. Treasury yield rose 1.06%, to 5.33%.
• U.S. Dollar Index rose 0.1467% to 102.41.
• WTI crude oil futures rose 4.53% to 92.28 USD/barrel; COMEX gold futures rose 0.19% to 4148.70 USD/ounce.
03 Key News
1. Wolfspeed secured a conditional U.S. Department of Defense loan commitment to expand silicon carbide production. The chipmaker said the financing could reach $1.5 billion and would support domestic output of silicon carbide materials and power devices. The announcement helped drive a strong premarket jump in the shares and underscored continued government backing for strategically important semiconductor supply chains.
2. Applied Digital reported quarterly results that beat Wall Street estimates. The neocloud provider said fiscal first-quarter results came in above expectations, helping lift the stock before the open. The update reinforced investor interest in data-center and AI infrastructure names tied to compute demand.
3. Argenx discontinued a late-stage Vyvgart study after a monitoring committee found the trial unlikely to meet its goal. The company said the autoimmune-disease study for Sjogren’s disease was stopped for lack of efficacy, though no new safety issues were identified. The setback removed an important clinical catalyst and weighed heavily on the stock in premarket trading.
4. TSMC reported record quarterly revenue, powered by demand for AI applications. The world’s largest contract chipmaker said revenue reached T$1.49 trillion, topping expectations and rising sharply from a year earlier. The result reinforced the strength of AI-related chip demand and provided a constructive read-through for suppliers tied to advanced semiconductors.
5. The U.S. bank sector is heading into earnings with investors focused on higher rates, lending growth, and dealmaking. A Reuters report said large lenders are expected to post year-over-year profit growth, but funding costs and capital-markets activity are under scrutiny. The setup points to a key test for banks as Treasury yields remain elevated and credit conditions stay in focus.
6. Oil prices advanced as supply worries intensified in the Middle East. Reuters reported that Brent and WTI climbed on concern over shipping disruptions in the Gulf and the Strait of Hormuz. The move supported energy stocks and added to inflation sensitivity across broader markets.
7. Gold rose as investors weighed Federal Reserve policy uncertainty and weaker risk sentiment. Reuters said bullion rebounded after touching a two-month low, with traders still debating the timing of future rate moves. The recovery suggested continued demand for havens amid higher yields and geopolitical tension.
8. The Federal Reserve’s latest minutes signaled internal disagreement over the need for another rate increase. An MT Newswires report said some policymakers wanted a hike to guard against inflation pressures, while others favored caution. The debate kept the market’s focus on the path of policy and the impact on borrowing costs.
9. The IMF warned that high energy prices, heavy public debt, and AI investment risks could strain the global economy. Managing Director Kristalina Georgieva urged governments to strengthen fiscal and monetary safeguards. The comments added a macroeconomic warning signal for markets already dealing with higher rates and commodity volatility.
10. Stats NZ reported a decline in household saving and a rise in home-building costs. The agency said household savings fell while construction costs rose at the fastest pace in more than two years. The data pointed to persistent pressure on consumers and the housing sector, with potential implications for domestic demand.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.