Market Snapshot
Ahead of Thursday's open, all three major index futures rose; as of press time, Dow Jones Industrial Average futures were up 1.06%, Nasdaq 100 futures were up 1.46%, and S&P 500 futures were up 1.12%.
U.S. Treasury yields fell across the board.
Oil prices fell nearly 3%.
Precious metals—gold and silver—are rising.
Bitcoin, Ethereum, and other crypto assets have risen.
$Star Technology Stocks (LIST2518.US)$Pre-market, most stocks rose, with Intel up over 3%, AMD up nearly 3%, Tesla, SpaceX, Micron Technology, and Broadcom each up over 2%, and NVIDIA and Amazon each up over 1%.
$Popular Chinese Stocks (LIST2517.US)$Pre-market, most stocks rose, with UMC up over 3%, Taiwan Semiconductor and Xpeng up over 1%, and PDD Holdings and Baidu up nearly 1%.
$Storage Concept (LIST23925.US)$Across the board, Micron Technology rose more than 3%, SK Hynix and Seagate Technology gained nearly 3%, while Micron Technology and SanDisk climbed over 2%.
$Optical Communications (LIST23979.US)$All stocks rose across the board, with AXT Inc. up over 5%, Nokia and Credo each gaining nearly 5%, Coherent advancing nearly 4%, and Marvell Technology and Corning both rising more than 3%.
$Cloud Computing Service Provider (LIST2540.US)$Pre-market, stocks are broadly higher: Nebius is up nearly 9%, IREN is up over 5%, Oracle is up nearly 3%, Amazon is up nearly 2%, while CoreWeave is down over 2%.
$Cryptocurrency Concept Stocks (LIST20010.US)$Across the board, IREN rose more than 5%, MARA gained over 4%, while Bitmine Immersion Technologies and SoFi both climbed by more than 2%.
$Semiconductors (LIST2015.US)$Pre-market trading was strong, with Intel and AMD up over 3%, Qualcomm up nearly 3%, and Micron Technology and Broadcom up over 2%.
$Gold (LIST2110.US)$、$Silver (LIST2093.US)$Stocks rose across the board, with Harmony Gold up more than 4%, Pan American Silver up nearly 3%, and Newmont, Agnico Eagle Mines, and Aya Gold & Silver each gaining over 2%.
Individual Stock News
Nebius rose more than 9% in pre-market trading after announcing that, effective October 1, it will increase prices for several on-demand computing resources.
Cloud computing service provider$NEBIUS(NBIS.US)$It announced that, effective October 1, it will comprehensively raise the pricing of its GPU cloud services, with an average increase of about 20%. Under the new pricing, the H100 will rise from $3.85 per GPU-hour to $4.50 per GPU-hour, a roughly 17% increase; the H200 will go from $4.50 to $5.40, up 20%; the B200 will climb from $7.15 to $8.50, an increase of nearly 19%; and NVIDIA's B300 will see the largest absolute price hike, rising from $7.85 to $9.50 per GPU-hour, a gain of approximately 21%.
Price increases also apply to CPU‑only workloads. The pricing for AMD EPYC Genoa CPUs has been raised by 25%, from $0.012 per vCPU‑hour to $0.015; for Genoa memory, the rate has increased by approximately 41%, from $0.0032 per GiB‑hour to $0.0045.
Nokia rose nearly 5% in pre-market trading, expanding its collaboration with Microsoft to integrate the Data Suite and Fabric platforms.
September 17,$Nokia (NOK.US)$Announced the expansion of cooperation with$Microsoft (MSFT.US)$The collaboration integrates Nokia's Data Suite solution with Microsoft's Fabric platform, helping operators leverage network data more quickly, accelerate network automation, and build a unified data foundation. On the Finnish stock market, Nokia surged nearly 6% during trading on the Helsinki Exchange, becoming the biggest gainer on the market.
In addition, Nokia's AI-RAN solution has advanced to the live network testing phase with telecom operators in North America, Europe, the Asia-Pacific region, and the Middle East, and its collaboration with NVIDIA's Aerial RAN technology has further strengthened its position as an AI infrastructure provider.
CoreWeave announced the issuance of $3 billion in convertible senior notes.
AI computing power leasing provider$CoreWeave(CRWV.US)$It stated that, as of August 11, 2026, contracted power capacity has increased to 4.2 gigawatts, and the company will continue to secure additional computing capacity at higher prices. In addition, the company announced plans to issue $3 billion in convertible senior notes, with proposed coupon rates ranging from 2.3756% to 2.875% and conversion premiums set between 22.5% and 27.5%.
Tesla's Optimus robot has secured an order for 5,000 units, with a factory audit imminent.
$Tesla (TSLA.US)$Recently, it has placed a new order for approximately 5,000 units with its suppliers—this is the first mass-production order in the thousands, following earlier trial-production orders of several hundred units. In addition, Tesla is accelerating factory audits for the supply chain of its Optimus humanoid robot in China, visiting suppliers in Shanghai, Hangzhou, Ningbo, Xiamen, and other locations. The dual signals of factory audits and orders mark Optimus's official transition from an engineering prototype to a replicable manufacturing stage. Industry insiders believe that Tesla's visits to Chinese suppliers further confirm the acceleration of its mass-production timeline.
Samsung, Apple, and Google are all under investigation in the United States at the same time.
On September 16, U.S. local time, the U.S. International Trade Commission (ITC) announced that it has initiated a patent‑infringement investigation into certain electronic devices equipped with specific audio technologies. The scope of the investigation includes$Samsung Electronics (005930.KR)$and its U.S. subsidiaries,$Apple(AAPL.US)$and$Google-A (GOOGL.US)$However, the initiation of an investigation does not, in itself, constitute a finding of patent infringement. The administrative law judge will hold a hearing to issue a preliminary determination, after which the ITC will review the matter and render a final decision.
Salesforce's fiscal 2030 revenue target of $63 billion exceeded expectations.
$Salesforce(CRM.US)$Chief Operating Officer and Chief Financial Officer Robin Washington stated at the company's annual conference that sales are expected to reach $63 billion in the fiscal year ending January 2030, while analysts' average forecast stands at $61.4 billion. This outlook incorporates revenue from Salesforce's acquisition of Informatica, which was completed last November.
JPMorgan noted that market concerns about Salesforce being replaced by AI are "overblown," with Agentforce and Data 360 combined generating nearly $3.9 billion in annual recurring revenue (ARR), projected to exceed $5 billion by the end of fiscal 2027 and surpass $10 billion by the end of fiscal 2030. Currently, the company's enterprise value-to-free cash flow multiple of approximately 11 times is below the industry average of around 15 times, suggesting room for revaluation.
Generac surged nearly 30% in pre-market trading after reaching a supply agreement with Amazon for data center backup generators.
$Generac(GNRC.US)$Announced a supply agreement with Amazon for data center backup generators. The first batch of generators is expected to total $2.4 billion in deliveries by 2027 and 2028.
Fluence Energy plunged more than 22% in pre-market trading after lowering its revenue guidance and delaying production capacity at its Houston facility.
U.S. stock energy storage concept stocks$Fluence Energy(FLNC.US)$After the market closed on Wednesday, the company issued an announcement lowering its fiscal 2026 revenue guidance from $2.9 billion to $3.1 billion to approximately $2.4 billion—below the market's consensus estimate of $2.96 billion. Meanwhile, its adjusted EBITDA loss forecast widened sharply from roughly $10 million to about $200 million, a deterioration far exceeding expectations. The Houston contract manufacturer is at the root of the issue.
Company CEO Julian Nebreda stated clearly that both domestic and international demand remain robust, and the global supply chain is functioning smoothly; however, the ongoing delays in ramping up production capacity at the Houston contract manufacturing facility are the "primary reason" for the lowered guidance.
Manus reportedly raised $500 million, targeting a $4 billion valuation.
Bloomberg, citing sources familiar with the matter, reported that Manus, a Chinese artificial intelligence (AI) startup, is on the verge of closing a $500 million funding round, which could double its valuation to $4 billion and make the company— a pioneer in the AI agent space—the most valuable AI startup in China.
This is the first round of financing since the Chinese government required Manus to terminate its acquisition deal with Meta Platforms. Sources say negotiations are still ongoing, and the terms of the deal could still change. The identities of the new investors remain unclear, while Manus's existing investors include Tencent, Sequoia China, and ZhenFund.
Global Macro
U.S. media: Trump will hold talks on the Iran issue with Gulf leaders next week.
According to Axios, three sources familiar with the matter said that Trump is expected to meet with Gulf leaders or foreign ministers—including those from Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman—during the United Nations General Assembly in New York next Tuesday to discuss the next steps in the war with Iran. The meeting is anticipated to focus on U.S. post-war strategic planning, as Trump and his senior team are drafting a plan that is expected to be finalized after the midterm elections.
A source said the meeting could be expanded to include other Arab and Muslim leaders. An Israeli source indicated that Israeli Prime Minister Netanyahu also hopes to meet with Trump in New York, but no meeting has been scheduled yet. On Wednesday, Trump stated, "I hope we're nearing the end of the war." He once again claimed that Iran wants to reach an agreement, adding that the United States heard this directly from Iran.
The Bank of England held its key interest rate steady as expected, warning that it would raise rates if the war in Iran persists.
The Bank of England held its key interest rate steady at 3.75%, in line with market expectations, while warning that further rate hikes may be necessary if escalating Middle East tensions fuel inflationary pressures. Six members of the Monetary Policy Committee voted to keep rates unchanged, including Governor Andrew Bailey. The committee's stance was broadly consistent with its July meeting. In a statement, Bailey noted that, to date, the global energy shock has had only a limited impact on UK prices and wages.
However, he added, "The longer this volatility persists, the greater its impact on inflation, and the higher the likelihood that we will raise bank interest rates." At the same time as announcing its interest-rate decision, the bank also announced it was abandoning its plan to sell long-term government bonds and stated that it would complete the reduction of its £488 billion debt portfolio by September 2034.
Goldman Sachs: Expects the Federal Reserve to raise interest rates again in October.
Following the Federal Reserve's hawkish signals on Wednesday, Goldman Sachs now expects the Fed to raise interest rates by another 25 basis points in October, making it one of the first major Wall Street banks to forecast back-to-back rate hikes. This assessment reverses Goldman Sachs' earlier stance, which had held that the Fed had completed this round of tightening after its 25-basis-point hike in September.
Goldman Sachs noted that the Federal Reserve's updated interest-rate projections indicate that the vast majority of policymakers expect at least one more rate hike this year, suggesting a baseline scenario of "two rate hikes" by 2026. Goldman Sachs said October is the most likely timing for the next rate increase, as policymakers have framed further policy tightening as helping to bring inflation back "more promptly" to the Fed's 2% target.
Goldman Sachs said the signals from this meeting were more hawkish than expected, citing Fed officials' interest-rate projections, an upward revision to the neutral rate, and Wash's repeated characterization of this move as merely "removing a degree of accommodation." Bank of America Global Research is another major institution that anticipates a more aggressive tightening path from the Fed, forecasting rate hikes in October and December.
U.S. Treasury Secretary Bessent: The U.S. side is willing to discuss "common risks" of artificial intelligence with the Chinese side.
According to Observer Network, U.S. media report that Treasury Secretary Scott Bessent said he is willing to discuss the shared risks facing both sides with China during the upcoming AI-related talks this weekend. This statement comes as the Trump administration has explicitly rejected calls from the industry to slow down AI research and development, emphasizing that it is engaged in a fierce competition with China. Bessent plans to meet with Chinese Vice Premier He Lifeng, a move that many believe could open a channel for dialogue between China and the United States on AI safety cooperation.
In a statement to Axios, he said, "The United States remains the leader in the field of artificial intelligence. We are willing to engage in discussions to avert shared risks and prevent the emergence of two distinct systems that could lead to fragmentation. We anticipate these talks will cover both open-source weight models and closed-weight models." A senior U.S. government official noted that Bessent and U.S. Trade Representative Jamison Greer are the principal officials responsible for China-related matters, making it "logical" for the Treasury Secretary to lead this round of dialogue.
Ministry of Commerce: The China-U.S. economic and trade teams are maintaining close communication on issues such as tariff reductions.
On the 17th, the Ministry of Commerce held its regular press conference. In response to a question about the latest developments in consultations between China and the United States on a mutual tariff-reduction arrangement covering $30 billion worth of goods, spokesperson He Yadong stated that the economic and trade teams of both sides are currently maintaining close communication on relevant issues and will release updates in due course.
Driven by expectations of a rate hike from the Bank of Japan, Japanese short-term bond yields have climbed to a 30-year high.
Yields on Japanese short-term government bonds have risen to their highest level since April 1995, with the two-year JGB yield climbing by 2 basis points to 1.865%. Market consensus expects the Bank of Japan to raise its policy rate by 25 basis points to 1.25% on Friday. Pricing in the market suggests investors anticipate further quarterly rate hikes thereafter, with the key policy rate doubling to 2% within roughly one year.
David Clewell, a portfolio manager at T. Rowe Price, said the market's focus is on "how far the Bank of Japan will open the door to further policy normalization in order to prevent a sharp depreciation of the yen against the U.S. dollar," a concern that has grown especially acute following the Federal Reserve's hawkish stance, which triggered a substantial overnight rally in the USD/JPY exchange rate.
Top 20 Stocks by Pre-Market Trading Volume in the U.S. Market
U.S. Stock Market Macro Calendar Reminder
(The following is in Beijing Time)
20:30 U.S. September Philadelphia Fed Manufacturing Index
20:30 U.S. Initial Jobless Claims for the week ending September 12 (in ten thousands)
20:30 U.S. August Housing Starts, Annualized (in 10,000 units)
20:30 U.S. August Total Housing Permits (in 10,000 units)
22:00 U.S. August Existing-Home Sales Contract Index MoM
22:30 U.S. EIA Natural Gas Inventories for the Week Ending September 11 (in billion cubic feet)
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Edited by melody