Svmuu News: Here are the key pre-market developments for U.S. stocks:
1. Futures for the three major U.S. stock indices fell across the board. Dow Jones futures were down 0.86%, S&P 500 futures were down 0.61%, and Nasdaq-100 futures were down 0.86%.
2. International oil prices surged significantly.WTI crude oil futures rose 4.73% to $73.770 per barrel; Brent crude oil futures rose 4.80% to $77.721 per barrel. In related news, Donald Trump stated that the U.S.-Iran memorandum of understanding “has ended.”
3. International spot gold and silver prices fell across the board. Spot gold prices fell 0.82% to $4,072.07 per ounce; spot silver prices fell 2.37% to $58.53 per ounce.
4. Europe’s three major stock indices all closed lower. The UK’s FTSE 100 fell 1.04%, France’s CAC 40 fell 1.73%, and Germany’s DAX 30 fell 1.82%.
5. Apple plans to purchase more than $30 billion worth of U.S.-made chips from Broadcom over the next five years, which will drive the production of more than 15 billion domestically manufactured chips.
6. Amazon. is secretly developing “MOONRAKER,” a high-cost Alexa project, with GPU spending expected to exceed $100 million in 2026.
7. NVIDIA’s market capitalization has evaporated by $1 trillion in less than two months; its price-to-earnings ratio based on expected earnings over the next 12 months stands at 18x, bringing its valuation back to levels seen before the AI boom.
8. Samsung Electronics has begun mass production of the PM1763, an advanced solid-state drive designed for the NVIDIA Vera Rubin platform. This storage device reduces data latency for advanced processors and AI accelerators.
9. Cathie Wood’s Ark Investment Management has made significant adjustments to its portfolio, increasing its stake in SpaceX and reducing its holdings in AMD.
10. Blue Origin, Jeff Bezos’ commercial space company, is raising $10 billion at a pre-money valuation of $130 billion.
11. The Federal Reserve will release the minutes from its June meeting at 2:00 a.m. Beijing time tomorrow; the market is watching for signals from Wash’s first set of minutes.