Market Snapshot
In pre-market trading on Tuesday, the three major U.S. stock index futures showed mixed performance. As of press time, Dow Jones Industrial Average futures fell 0.76%, Nasdaq-100 futures edged up 0.09%, and S&P 500 futures declined 0.24%.
U.S. Treasury yields rose in most cases.
Oil prices rose by more than 2%.
Gold dipped slightly, while silver and other precious metals edged higher.
Cryptocurrencies such as Bitcoin and Ethereum showed mixed performance.
$Star Tech Stocks (LIST2518.US)$Pre-market trading was mixed: Oracle rose nearly 5%, Intel gained over 4%, ASML Holding advanced more than 3%, Micron Technology and AMD rose over 1%, while SpaceX and Broadcom climbed nearly 1%.
$Popular Chinese ADRs (LIST2517.US)$Most stocks fell in pre-market trading: Baidu dropped over 7%, JD.com declined nearly 2%, Nio and Alibaba fell more than 1%, while United Microelectronics Corporation rose over 3% and Taiwan Semiconductor gained more than 1%.
$Storage Concept (LIST23925.US)$The sector rose collectively: SK Hynix gained over 2%, Micron Technology rose more than 1%, Seagate Technology increased by 1%, and SanDisk and Western Digital edged up nearly 1%.
$Optical Communications (LIST23979.US)$Stocks moved in tandem: Nokia rose nearly 4%, AAOI gained over 2%, AXT Inc. advanced nearly 2%, Broadcom climbed nearly 1%, while Astera Labs fell more than 2%.
$Quantum Computing Concept (LIST2594.US)$Most stocks rose in pre-market trading: Rigetti Computing gained nearly 6%, IonQ Inc. rose over 5%, Oracle advanced nearly 5%, and D-Wave Quantum climbed more than 4%.
Individual Stock News
ASML Holding advances next-generation lithography upgrades, targeting the large data center chip market
$ASML Holding (ASML.US)$The company plans to collaborate with its major clients to develop new solutions for producing state-of-the-art chip manufacturing equipment, aiming to meet the demand for large data center chips designed by companies such as NVIDIA. Currently, ASML's widely used extreme ultraviolet (EUV) lithography machines can produce chips with a maximum area of approximately 800 square millimeters. ASML's upcoming next-generation "high numerical aperture" EUV lithography machine will be capable of manufacturing even finer chips.
However, due to its use of smaller-sized photomasks, it is currently limited in terms of manufacturable chip area. ASML plans to demonstrate a pilot production line using larger-sized photomasks by 2031 and to enable mass production capabilities for this new technology by 2033.
Amazon launches its inaugural sterling bond issuance, with pricing expected as early as Wednesday.
$Amazon (AMZN.US)$Banks have been mandated for the inaugural sterling bond issuance, with trading expected to commence as early as Wednesday. According to people familiar with the matter, the issuance will be split into four tranches with maturities ranging from three to nineteen years, managed by JPMorgan, Barclays, HSBC, and NatWest Group. Amazon issued euro-denominated bonds in March, setting a record for the largest corporate debt issuance in that currency, and subsequently entered the Swiss franc market with a record six-tranche deal.
Overall, Amazon is the largest bond issuer among hyperscalers in 2026, having issued securities worth over $92 billion. Its total debt also ranks first among hyperscalers, nearly double that of its closest competitor, Microsoft. Amazon plans to spend $220 billion on capital expenditures this year, with CEO Andy Jassy stating that the majority will be directed toward AI. Given the scale and pace of such issuances, investors are beginning to show signs of fatigue. Weakening sales demand recently and widening pricing spreads have pushed up debt costs.
Intel raises CPU prices by another 10% and plans to phase out low-margin products
On September 8, according to supply chain sources revealing to Taiwan's DigiTimes,$Intel (INTC.US)$CPU prices for PCs are expected to rise by approximately 10% again on October 5, 2026. Meanwhile, CEO Lip-Bu Tan is reviewing low-margin product lines, with some products facing discontinuation and delisting, primarily affecting the industrial PC, IoT, and embedded markets. The core logic behind Intel's current adjustment is to prioritize gross margin, moving away from the previous strategy of trading price for volume.
Oracle rises nearly 5% in pre-market trading; earnings report to be released after hours on Thursday.
$Oracle (ORCL.US)$The company is scheduled to release its fiscal 2027 first-quarter earnings report after hours on Thursday. AllianceBernstein analyst Mark Moerdler maintains$Oracle (ORCL.US)$a Buy rating and keeps the target price at $325.
Arm Executive: Over 350 billion chips based on Arm technology have been shipped
At today's Arm Everywhere China annual conference,$Arm Holdings (ARM.US)$Will Abbey, Executive Vice President and Chief Business Officer, stated: "Cumulative shipments of Arm-based chips by Arm’s global partners have exceeded 350 billion units. Chinese innovators have always been a vital force in this global innovation journey." It is reported that partners such as Alipay, OPPO, and vivo have adopted the second-generation Arm Scalable Matrix Extension (SME2) technology.
Arm is also collaborating with partners including Papergames, NetEase, Tencent Games, Unity China, and Unreal Engine to advance neural network technologies. Volcano Engine, under ByteDance, has launched its first batch of agent sandboxes based on the Arm AGI CPU platform.
Apple signs long-term NAND supply agreement with Kioxia, potentially without a price cap
According to Korea Economic Daily,$Apple (AAPL.US)$and$Kioxia ADR (KXIAY.US)$the companies signed a Long-Term Agreement (LTA) for NAND flash memory. Market speculation suggests the contract term is three to five years and may not include a price ceiling. This indicates that Apple, which holds significant bargaining power in memory price negotiations, is prioritizing stable NAND flash supply over cost reduction.
Coherent to exhibit at CIOE, showcasing solutions such as 12.8T XPO
According to$Coherent (COHR.US)$The company announced it will present innovative products and full-stack photonics solutions for AI computing, data centers, and high-speed optical communications at the 2026 China International Optoelectronic Exposition (CIOE 2026), demonstrating how photonic technology empowers high-speed interconnects and computing upgrades in the AI era. In the field of high-speed intra-rack interconnects, diverse technical routes including silicon photonics, VCSEL multimode, and InP will be covered. The booth will prominently feature solutions such as 6.4T pluggable CPO, 1.6T VCSEL NPO, and 12.8T XPO.
Corning to Exhibit at the 27th China International Optoelectronic Exposition
According to$Corning (GLW.US)$The company announced it will participate in the 27th China International Optoelectronic Exposition (CIOE 2026). Themes include AI-driven innovation, accelerated large-scale deployment, high-density connectivity, and optoelectronic conversion, comprehensively showcasing innovative solutions covering optical fiber, optical connectivity, optoelectronic integration, and AI data center infrastructure.
Alibaba integrates domestic and international B2B operations
$Alibaba (BABA.US)$The B2B platforms 1688 and Alibaba.com are being integrated for unified operations, overseen by Zhang Kuo. Yu Yong, the former head of 1688, will assume a new role within the Alibaba Group. This move aims to leverage AI technology to integrate the advantages of domestic supply chains, connect domestic and international markets, and create greater business opportunities for merchants. 1688 and Alibaba.com are Alibaba’s two earliest B2B businesses, responsible for domestic wholesale and cross-border wholesale respectively, both having been established for over 20 years.
In its financial report released on August 20, Alibaba segmented its e-commerce operations into four business units: China Commerce, Instant Retail, International Digital Commerce, and Global Wholesale. The Global Wholesale segment includes 1688.com and Alibaba.com.
Nokia shares rose more than 3% in pre-market trading following the launch of Mobile Core Early Access.
Nokia (NOK.US)The company announced the launch of Mobile Core Early Access, a real-time hosted environment that provides close visibility into the software driving advanced network connectivity in the AI era. The program is open to telecommunications operators and enterprises worldwide, aiming to shorten the path from technological awareness to evidence-based planning, validation, and adoption.
Novartis AG shares fell more than 12% in pre-market trading after its Phase III clinical trial for a DM1 drug failed to meet the primary endpoint.
$Novartis AG (NVS.US)$ Novartis announced that its Phase III HARBOR study, evaluating del-desiran for the treatment of myotonic dystrophy type 1 (DM1), did not meet the primary endpoint. Data showed no statistically significant improvement in video hand opening time (vHOT) compared with placebo. Novartis stated that signs of clinical activity were observed in secondary endpoints and exploratory analyses, and the overall safety profile was consistent with previous data. The company will further analyze the complete dataset and determine the subsequent development path after consultations with regulatory authorities.
Rigetti Computing and D-Wave Quantum signed $100 million agreements with the U.S. government to advance quantum computing development, with their shares rising more than 7% and nearly 5%, respectively, in pre-market trading.
$Rigetti Computing (RGTI.US)$and$D-Wave Quantum (QBTS.US)$The companies separately signed agreements worth $100 million with the U.S. Department of Commerce to promote the development of quantum computing.
Under the terms of the agreement, Rigetti will use the funding to advance three projects aimed at alleviating bottlenecks in achieving practical-scale quantum computing: compressing readout electronics, expanding cryogenic capabilities through new cryostat architectures, and developing high-connectivity chip architecture capabilities. D-Wave Quantum will also receive $100 million from the Department of Commerce under the CHIPS and Science Act, which will be used to support R&D for its superconducting annealing and gate-model technologies.
Bloom Energy, Illumina, and Everpure all rose in pre-market trading after being included in the S&P 500 Index.
S&P Dow Jones Indices recently announced,$Bloom Energy (BE.US)$、$Everpure (P.US)$、$Illumina(ILMN.US)$It will be included in the S&P 500 Index, effective before the market opens on September 21. This inclusion is expected to trigger mandatory allocations from global passive index funds, thereby enhancing stock liquidity and institutional attention.
Roivant Sciences rose more than 18% in pre-market trading after its experimental lung disease drug met primary endpoints in mid-stage studies.
$Roivant Sciences (ROIV.US)$Its Pulmovant unit stated on Tuesday that the mid-stage PHocus study of mosliciguat for treating patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD) achieved both primary and secondary endpoints.
Anthropic and OpenAI Seek Investment-Grade Ratings Upon Listing
Morgan Stanley and Goldman Sachs have recently lobbied credit rating agencies on behalf of OpenAI and Anthropic, hoping that both companies will secure investment-grade ratings immediately following their IPOs. This would help lower financing costs and support AI infrastructure plans, although rating agencies remain cautious.
Global Macro
Iran: "Significant progress" achieved on the Strait of Hormuz shipping route
According to the Iranian Students News Agency (ISNA), the foreign ministers of Iran and Japan held a telephone discussion on issues concerning the Strait of Hormuz. The Iranian Foreign Minister stated that "significant progress" has been made regarding navigation in the Strait, and the U.S. commitment to return to the Islamabad Memorandum of Understanding will pave the way for a return to normalcy.
Saudi Foreign Minister: The diplomatic path with the Houthi rebels remains open
The Saudi Foreign Minister stated that despite the fierce attacks launched by the Houthi rebels against Saudi Arabia, it is still possible for both sides to end the conflict through diplomatic channels. The Houthis face internal problems and are attempting to shift the blame onto Saudi Arabia and Yemen's legitimate government. Their provocations will ultimately end in failure. Such behavior and self-serving actions will inevitably lead to unbearable consequences. Nevertheless, the door to diplomacy remains open. While Saudi Arabia consistently supports resolving issues through diplomatic means, it will not hesitate to defend its own interests.
The Houthi armed group claimed to have launched retaliatory strikes against Saudi Aramco and air force bases.
The Houthi armed forces in Yemen issued a statement announcing large-scale military operations against Saudi Aramco. The statement identified the targets as Saudi Aramco facilities in Abha and Najran, the economic zone and Saudi Aramco facilities in Jizan, and the Khamis Mushait Air Base. The operation deployed dozens of ballistic missiles and drones in response to what it described as aggressive actions by Saudi Arabia, which conducted 121 airstrikes against them over the past three days.
Fed Rate Hike Clues Await Inflation Data; Gold Market Focus Shifts to PPI and CPI
Despite a weaker U.S. dollar, gold prices continued to decline as investors awaited U.S. inflation data for further clues on the Federal Reserve's interest rate decisions. Naeem Aslam of Zaye Capital Markets noted that gold holding above the $4,400 level indicates that defensive demand remains sufficient to offset pressure from a robust labor market.
The market is balancing two opposing forces: robust U.S. economic data supporting interest rate hikes, and geopolitical uncertainty that continues to drive safe-haven demand. Attention now shifts to the U.S. PPI and CPI data scheduled for release later this week.
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(All times listed below are in Beijing Time)
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