Markets Whale

Today’s premarket session is packed with market-moving news across key sectors and major names. Gold surged past USD 4,000 per ounce for the first time, driven by the ongoing US government shutdown, political instability in Japan and France, and expectations of a renewed US rate cut cycle. UBS highlights gold’s rally of over 50% year-to-date, while Wells Fargo anticipates 25 basis point rate cuts in both October and December FOMC meetings, adding further support.

Tech giants are in focus as Nvidia reportedly plans a $2 billion equity stake in Elon Musk’s xAI, with the CEO scheduled for a CNBC interview today. Meta and Apple are close to settling their EU antitrust case, according to the Financial Times. Amazon is expanding into healthcare, launching pharmacy kiosks at One Medical locations in Los Angeles starting December 2025 to facilitate same-day prescription pickups.

Tesla steps back from its ambitious Optimus robot production target for 2025 due to technical challenges, especially with the robots’ hands. Roket Lab (RKLB) signed a multi-launch contract with Japan’s iQPS, while NANO Nuclear Energy (NNE) is raising $400 million through a private placement. Comfort Life Technologies (CFLT) explores a sale amid private equity and tech firm interest.

Sony takes a majority stake in STATSports, a leading provider of athlete monitoring wearables. AST SpaceMobile (ASTS) inked a deal with Verizon to launch space-based cellular service in 2026, after successful tests. Canopy Growth (CGC) shifts its Kelowna facility to medical cannabis cultivation exclusively and focuses more on the Canadian medical market.

In other earnings-related moves, HSBC downgrades Intel (INTC) to Reduce but raises its price target on expected short-term deal boosts. Domino’s (DPZ) is rated Outperform by Evercore, citing strong same-store sales driven by value offerings and marketing. Conversely, JPMorgan downgrades FedEx (FDX) to Neutral due to a weaker freight segment outlook. B Riley trims Kratos (KTOS) to Neutral despite raising its price target.

ABB announced it will sell its robotics unit to SoftBank for $5.375 billion. Joby Aviation priced its $500 million stock offering at $16.85, and IREN filed an $875 million convertible note offering. The Bank of England flagged stretched equity valuations, especially among AI firms. EU officials warn that new US trade demands risk undermining this year’s tariff agreement.

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