Aktualisiert 2 min read
US stock futures slipped on Monday, pointing to a retreat from a powerful rally fueled by rate-cut hopes with eyes all on Nvidia (NVDA) earnings for the week ahead.
Futures attached to the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) both fell back around 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) dropped 0.3%.
Wall Street is coming off a rally that saw the Dow Jones Industrial Average (^DJI) surge over 800 points, or 1.8%, to 45,631.74, to score its first record of 2025. The S&P 500 (^GSPC) gained 1.5%, finishing just shy of a fresh all-time high. The Nasdaq Composite (^IXIC) jumped 1.9% as investors cheered signals from Federal Reserve Chair Jerome Powell that rate cuts could start as early as September.
With earnings season continuing to roll on, Nvidia, the most valuable stock in the S&P 500, reports results after the closing bell Wednesday. Analysts see the chipmaker posting earnings of $1.01 per share on $46.13 billion in revenue. Price targets have been climbing in the lead-up, reflecting optimism that demand for AI hardware remains high.
Nvidia stock has already had a monster run: Shares are sitting near a record high, up 32% year to date while nearly doubling since April’s market low. Wednesday’s report acts as a litmus test for Nvidia as well as the broader market, as investors eyed a potential rotation out of tech before the end-of-week rally. Meanwhile, Dell (DELL) and Marvell Technology (MRVL) report Thursday.
Looking ahead, the spotlight turns to Friday’s July PCE inflation report, the Fed’s preferred inflation gauge. Economists expect core PCE to rise 2.9% year over year, slightly higher than June’s 2.8%.
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Stablecoins are set to reshape the multitrillion-dollar US Treasury market
With US debt above $37 trillion and climbing, the US Treasury market is eyeing stablecoin issuers like Tether and Circle (CRCL) as key buyers.
Yahoo Finance’s Ines Ferré reports:
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PDD stock jumps after the Temu owner beat earnings estimates
PDD Holdings (PDD) stock gained 5% in premarket trading on Monday after the Chinese e-commerce giant beat earnings estimates by a wide margin. Shares spiked as much as 12% earlier but pared gains as investors digested the report.
The Temu and Pinduoduo owner reported earnings per American depository share (ADS) of 20.75 Chinese yuan (approximately $2.89) compared to estimates of 12.30 yuan ($1.72), per S&P Global Market Intelligence estimates.
Revenue rose 7% year over year to 10.4 billion ($1.45 billion), barely beating estimates as price competition with rivals Alibaba (BABA) and JD.com (JD) and higher costs from tariffs weighed on margins. US-listed shares of Alibaba and JD.com also rose ahead of the market open.
“Revenues growth further moderated this quarter amid intense competition,” said Jun Liu, PDD Holdings vice president of finance. “As we remain focused on long-term value creation, the sustained investments may continue to weigh on short-term profitability.”
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Canadians load up on US stocks despite Trump’s trade war
US President Donald Trump’s tariffs, threats of annexation and assorted insults have infuriated Canadians, leading them to sell off American real estate and boycott products.
The nation’s investors seemingly never got the memo, Bloomberg reports:
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Intel and the US government
Intel (INTC) shares are up slightly in premarket trading on the late Friday news the US government is taking a 10% stake in the chip giant.
The deal is getting mostly favorable reviews on the Street, in part because the government isn’t getting a board seat and the terms aren’t super restrictive.
Even still, it’s not an ideal situation for Intel. Now CEO Lip-Bu Tan has to have the Trump administration breathing down his neck at every corner while he attempts to save the company.
And make no mistake, with this government investment, it’s a signal that Intel needs saving.
What KeyBanc had to say:
“We see positive implications associated with this transaction as we were previously concerned that the U.S. government’s equity stake would likely have other Intel obligations with a potentially activist ownership role. Additionally, with the removal of the clawback on the previous CHIPS Act grant and announced equity transaction, uncertainty associated with whether INTC’s Chips Act funding would be reneged is off the table.”
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This week’s Nvidia earnings, PCE inflation pose tests with stocks near records
Yahoo Finance’s Josh Schafer lays out the potentially market-moving events to watch this week, after stocks ended last week in rally mode, thanks to Fed Chair Jerome Powell’s comments.
Schafer reports:
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Asian shares follow American surge
Asian markets rose overnight Sunday, following Wall Street’s record-setting rally, which was sparked by hints from Jerome Powell that the Fed may be lowering rates.
Reuters reports:
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Oil prices rise after Ukraine strikes on Russian production sites
Oil prices rose overnight Sunday as Ukraine hit a number of Russian production centers, causing fears over Russian oil supply capabilities.
Reuters reports:
