Latest news with #DowE-minis
Reuters
17 hours ago
- Business
- Reuters
Wall St set for muted open as chip stocks dip on China sales deal
Aug 11 (Reuters) - Wall Street was on track for a subdued start on Monday as major chip companies slipped on the eve of a key tariff deadline after a trade policy shift that involves sharing a portion of revenue from China sales with the Trump administration. Semiconductor giant Nvidia (NVDA.O), opens new tab slipped 0.4% in premarket trading, while Advanced Micro Devices (AMD.O), opens new tab lost 1.2%. A U.S. official told Reuters the companies had agreed to give the United States government 15% of revenue from sales of their advanced computer chips to China, days after the Commerce Department began issuing licenses for the sale of Nvidia's H20 chips. Enabling semiconductor sales to China was an integral issue in the agreement Washington signed with Beijing earlier this year and markets will be keen to know if the latest development will impact the relationship between the world's two largest economies. The deal expires on Tuesday. "It's a good way for the United States government to increase its cash and income... but a lot of people are going to argue that this is the wrong way to go," said Robert Pavlik, senior portfolio manager at Dakota Wealth. "The Chinese government will probably use it as a point to argue that they need different chips because these particular chips might be susceptible to be reviewed by the Americans." Markets also sought clarity on the sector tariffs U.S. President Donald Trump has announced. At 08:48 a.m. ET, Dow E-minis were up 64 points, or 0.14%, S&P 500 E-minis were up 4.75 points, or 0.07%, and Nasdaq 100 E-minis were up 8.5 points, or 0.04%. Traders took a step back after last week's rally helped the S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab log their strongest weekly performance in more than a month. Investors expect that the recent shake-up at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism. July's consumer inflation report is due on Tuesday and investors currently anticipate that the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG. A better-than-feared earnings season brought some relief and BofA's monthly fund manager survey showed that owning megacap stocks was again the most popular trade. Apple (AAPL.O), opens new tab was a standout last week following its biggest weekly showing in five years after the iPhone maker unveiled a series of U.S. investment pledges. The company's shares were down 0.5% on Monday. In earnings, Micron (MU.O), opens new tab raised its forecast for fourth-quarter revenue and adjusted profit, reflecting strong demand for artificial intelligence and sending shares of the chip company up 5.1%. U.S.-listed shares of lithium producers rose. Albemarle (ALB.N), opens new tab and Lithium Americas gained more than 10% each after Chinese battery giant Contemporary Amperex Technology (CATL) ( opens new tab halted output at a major mine, raising hopes that it would erode the oversupply in a market grappling with soft demand. Intel (INTC.O), opens new tab was up 2.7% after a report said CEO Lip-Bu Tan was expected to visit the White House. Trump had called for his removal last week. Trump is expected to meet Russia's President Vladimir Putin on Friday to try and negotiate an end to the war on Ukraine.
Mint
18 hours ago
- Business
- Mint
Wall St futures steady, chip stocks slip on China sales deal
Futures up: Dow 0.22%, S&P 500 0.10%, Nasdaq 0.05% Aug 11 - U.S. stock index futures were little changed on Monday as investors geared up for a busy week, while major chip companies seemed caught in the middle of the latest twist in trade policy ahead of a key tariff deadline with China. Semiconductor giant Nvidia dropped 1% in premarket trading and Advanced Micro Devices lost 2%. A U.S. official told Reuters that the companies had agreed to give the United States government 15% of revenue from the sales of their advanced computer chips to China, days after the Commerce Department began issuing licenses for the sale of Nvidia's H20 chips. Sale of the semiconductors was an integral issue in the U.S. agreement with China signed earlier this year and could strain the relationship between the two economies just before Tuesday's deadline for the deal's expiration. "The Trump administration reckons higher prices and snarled-up supply chains are an acceptable price to pay to encourage more U.S. manufacturing," said Susannah Streeter, head of money and markets, Hargreaves Lansdown. "The unusual arrangement is another example of a mega tech company acquiescing to the U.S. administration's demands, to gain an upper hand as trade relations are redrawn." Markets also await clarity on the sector tariffs U.S. President Donald Trump has announced. At 05:45 a.m. ET, Dow E-minis were up 98 points, or 0.22%, with 7,922 contracts changing hands, S&P 500 E-minis were up 6.25 points, or 0.10%, and Nasdaq 100 E-minis were up 11.5 points, or 0.05%. Traders took breather after last week's rally helped the S&P 500 and the Nasdaq log their strongest weekly performance in more than a month. Investors expect the recent shake-up at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism. Tuesday's consumer inflation report will either cast more doubt or offer clarity for investors, who are currently anticipating the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG. A better-than-feared earnings season was also a relief and BofA's monthly fund manager survey showed that owning megacap stocks was once again the most popular trade. Apple was a standout last week following its biggest weekly showing in five years, after the iPhone maker unveiled a series of U.S. investment pledges. The company's shares were down 0.7% on Monday. Gene therapy developers fell, with Sarepta Therapeutics dropping 7.6% and Capricor Therapeutics declined 9% as Vinay Prasad, a fierce critic of U.S. COVID-19 vaccine and mask mandates, was expected to return to the Food and Drug Administration. Intel was up 1.6% and focus turned to a report that said CEO Lip-Bu Tan was expected to visit the White House after Trump called for his removal last week. In geopolitical news, Trump and Russia's President Vladimir Putin are expected to meet on Friday to try and negotiate an end to the Ukraine war, which could also affect the outlook for crude prices.
Al Etihad
19 hours ago
- Business
- Al Etihad
Wall St futures steady, chip stocks slip on China sales deal
11 Aug 2025 14:25 (Reuters) US stock index futures were little changed on Monday as investors geared up for a busy week, while major chip companies seemed caught in the middle of the latest twist in trade policy ahead of a key tariff deadline with giant Nvidia dropped 1% in premarket trading and Advanced Micro Devices lost 2%.A US official told Reuters that the companies had agreed to give the United States government 15% of revenue from the sales of their advanced computer chips to China, days after the Commerce Department began issuing licenses for the sale of Nvidia's H20 of the semiconductors was an integral issue in the US agreement with China signed earlier this year and could strain the relationship between the two economies just before Tuesday's deadline for the deal's also await clarity on the sector tariffs US President Donald Trump has 05:45 a.m. ET, Dow E-minis were up 98 points, or 0.22%, with 7,922 contracts changing hands, S&P 500 E-minis were up 6.25 points, or 0.10%, and Nasdaq 100 E-minis were up 11.5 points, or 0.05%.Traders took breather after last week's rally helped the S&P 500 and the Nasdaq log their strongest weekly performance in more than a expect the recent shake-up at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the consumer inflation report will either cast more doubt or offer clarity for investors, who are currently anticipating the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG.A better-than-feared earnings season was also a relief and BofA's monthly fund manager survey showed that owning megacap stocks was once again the most popular was a standout last week following its biggest weekly showing in five years, after the iPhone maker unveiled a series of US investment pledges. The company's shares were down 0.7% on was up 1.6% and focus turned to a report that said CEO Lip-Bu Tan was expected to visit the White House after Trump called for his removal last week. In geopolitical news, Trump and Russia's President Vladimir Putin are expected to meet on Friday to try and negotiate an end to the Ukraine war, which could also affect the outlook for crude prices. Stock Markets Continue full coverage
Yahoo
5 days ago
- Business
- Yahoo
Tech shares lift Wall St futures on tariff exemption hopes
By Nikhil Sharma and Pranav Kashyap (Reuters) -U.S. stock index futures rose on Thursday, signaling fresh momentum for Wall Street, on signs that major tech firms may sidestep President Donald Trump's latest chip import tariffs. Apple's shares climbed 2.9% in premarket trading, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so. Shares of chipmakers including Nvidia, Advanced Micro Devices and Intel rose in the range of 0.9% to 2.2%. At 7:10 a.m. ET, S&P 500 E-minis were higher 39.75 points, or 0.62%, Nasdaq 100 E-minis were up 186.25 points, or 0.8%, and Dow E-minis were up 246 points, or 0.56%. Meanwhile, Eli Lilly plunged 12.3% after reporting data on its late-stage oral weight-loss drug. The drugmaker also raised its full-year profit forecast. Trump's higher tariffs of 10% to 50% on dozens of trading partners took effect on Thursday. Still, expectations of policy easing by the Federal Reserve - sparked by some disappointing economic data, particularly the July payrolls report - as well as optimism around AI spending by companies have kept markets near record highs. All eyes are on the initial jobless claims report, set for 8:30 a.m. ET, as investors look for fresh clues on the labor market after last week's disappointing payrolls data that triggered a dramatic repricing of the Federal Reserve easing path. Traders are now betting almost fully on a September rate cut, with at least two moves expected this year, CME FedWatch showed. "Equity markets continue to edge higher as Fed officials are sounding more dovish and global economic activity is resilient," said Elias Haddad, senior markets strategist at Brown Brothers Harriman. Investors are also watching for Trump's interim replacement for Fed Governor Adriana Kugler in the coming days, amid expectations that the nominee would be a policy dove who will likely favor bringing interest rates lower. Kugler's resignation leaves an opening at the seven-member Fed Board led by Chair Jerome Powell, who Trump has repeatedly criticized for not cutting borrowing costs. Powell's tenure is due to end in May 2025. Second-quarter earnings barrage continued at full throttle. DoorDash topped revenue estimates and forecasted a stronger-than-expected gross merchandise value for the current quarter. Its shares jumped 8.4%. Datadog jumped 10.4% after beating estimates for second-quarter results.
The Star
5 days ago
- Business
- The Star
Tech shares lift Wall St futures on tariff exemption hopes
US STOCK index futures rose on Thursday, pointing to fresh gains on Wall Street, on signs that major technology companies will avoid President Donald Trump's latest tariffs on chip imports. Apple's shares climbed 3.2% in premarket trading, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so. Shares of chipmakers including Nvidia, Advanced Micro Devices and Intel rose in the range of 1.2% to 2.5%. At 06:16 a.m. ET, S&P 500 E-minis were up 53.75 points, or 0.84%, Nasdaq 100 E-minis were up 197 points, or 0.84%, and Dow E-minis were up 274 points, or 0.62%. The president's higher tariffs of 10% to 50% on dozens of trading partners took effect on Thursday. Still, expectations of policy easing by the Federal Reserve - sparked by some disappointing economic data, particularly the July payrolls report - as well as optimism around AI spending by companies have kept markets near record highs. Following the latest jobs data, traders have almost fully priced in a 25 basis point rate cut in September and expect at least two rate cuts this year, according to the CME Group's FedWatch tool. Weekly jobless claims data, due at 08:30 a.m. ET, could offer fresh clues on the health of the labor market and shift rate cut expectations. Investors are also watching for Trump's interim replacement for Fed Governor Adriana Kugler in the coming days, amid expectations that the nominee would be a policy dove who will likely favor bringing interest rates lower. Kugler's resignation leaves an opening at the seven-member Fed Board led by Chair Jerome Powell, who Trump has repeatedly criticized for not cutting borrowing costs. Powell's tenure is due to end in May 2025. Second-quarter earnings barrage continued at full throttle. DoorDash topped revenue estimates and forecasted a stronger-than-expected gross merchandise value for the current quarter. Its shares jumped 8.6%. Lyft's quarterly revenue miss took its stock down 2.3%, even as the ride-hailing firm gave an upbeat gross bookings forecast for the September quarter. - Reuters
