01 Stock Market
As of Oct 9, U.S. stock index futures performed as follows: Dow Jones futures rose 0.22% to 51,607.00; S&P 500 futures rose 0.46% to 7,852.25; and Nasdaq 100 futures climbed 0.88% to 31,243.25. The tone pointed to a stronger open for growth shares, with the Nasdaq-linked contract outperforming the broader benchmarks. That setup matched the morning leadership in semiconductors and other AI-linked names, while the wider market still faced pressure from higher rates and the prior session’s weakness in the cash indexes.
Notable Stock Movers: NVIDIA rose 1.60% at $234.18, Advanced Micro Devices rose 1.88% at $632.37, Micron Technology rose 2.05% at $1,057.04, Broadcom rose 1.84% at $366.77, and Marvell Technology rose 2.00% at $280.10. Apple fell 2.26% at $332.71 after reports that the company asked suppliers to trim output for recently launched iPhone models amid softer demand. Delta Air Lines was also under pressure after lowering its earnings outlook because of elevated fuel costs, while SpaceX gained 3.97% at $166.95 as its spectrum deal revived competition concerns for telecom carriers. In the broader group, Applied Optoelectronics rose 7.48% at $113.82, Lumentum surged 6.57% at $1,117.50, and Coherent advanced 4.99% at $317.44, reinforcing the strength in optical and chip-related names.
Pre-market momentum was concentrated in AI, semiconductor, and storage shares, while consumer hardware and airlines lagged. Apple was the clearest large-cap decliner, but the move was offset by gains in NVDA, AMD, MU, AVGO, MRVL, and TSM, which all traded higher. The pattern suggests investors were rotating toward supply-chain beneficiaries and away from names facing demand or cost pressure. Outside mega-cap tech, Tesla rose 1.49% at $380.58, Oracle rose 1.66% at $137.44, and Palantir Technologies rose 0.90% at $200.57.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.11%, to 5.23%.
• U.S. Dollar Index rose 0.0490% to 102.15.
• WTI crude oil futures fell 1.20% to 90.39 USD/barrel; COMEX gold futures rose 1.26% to 4209.20 USD/ounce.
03 Key News
1. Apple told suppliers to cut production of recent iPhone Pro models as demand cooled. Reuters and Dow Jones reported that the company reduced component orders for the iPhone 18 Pro and iPhone 18 Pro Max after softer-than-expected demand. The move pointed to a slower-than-hoped start for the new premium lineup and helped pressure the stock in pre-market trading. It also raised concern that higher pricing may be limiting adoption.
2. Delta Air Lines lowered its full-year earnings outlook after fuel costs stayed elevated. The airline trimmed its earnings-per-share guidance, saying persistently high fuel prices were hurting profitability. It still described travel demand as strong, but the lower outlook signaled that cost inflation is outweighing operating strength. The update weighed on the shares before the open.
3. SpaceX agreed to buy low-band spectrum, intensifying competition with major wireless carriers. The deal gives the company more room to expand its satellite-based mobile ambitions and deepens its challenge to established telecom operators. Shares of major wireless names fell sharply as investors reassessed the competitive landscape. The transaction also lifted SpaceX in pre-market trading.
4. Humana surged after new Medicare Advantage ratings showed a sharp improvement. Newly released star ratings boosted the insurer’s profile and supported a strong pre-market move. The ratings shift mattered because higher scores can improve government payment rates and consumer appeal. At the same time, a rival insurer saw the opposite effect, underscoring how much these rankings can move earnings expectations.
5. Gold advanced as weaker Treasury yields and a softer dollar improved demand for bullion. Reuters said the metal benefited from easing yields, a pause in the dollar’s rally, and lower oil prices. The move reflected continued concern about inflation and interest-rate policy. Precious-metals miners and related funds also traded higher in sympathy.
6. Pimco’s Dan Ivascyn warned that the 10-year Treasury yield could rise further if inflation pressure persists. In comments to the Financial Times, he said a move toward 5.5% or higher could pressure risk assets. His remarks highlighted how the bond market remains sensitive to energy costs and debt concerns. The warning added to the cautious backdrop for equities.
7. Meta’s Muse AI agent kept strong user momentum, but profitability remains unclear. Dow Jones reported that the app quickly became a leader in its category and has drawn heavy traffic. The challenge now is whether Meta can monetize the product without losing the privacy appeal that helped it gain traction. The story underscored the gap between adoption and earnings contribution.
8. Palantir received a bullish upgrade as Goldman Sachs cited a larger addressable market. The bank argued that demand for sovereign AI systems could expand the company’s growth runway. That view added support to an already strong stock and reinforced optimism around enterprise AI spending. The note also showed how investor focus remains on AI commercialization rather than just model development.
9. Paramount and Warner Bros. Discovery completed a major merger, creating a much larger media group. The combined company, Skydance, now faces a heavy debt load and integration challenges. The deal creates scale in studios, television, and streaming, but it also leaves the new entity with significant financial obligations. That balance of scale and leverage will likely shape investor attention going forward.
10. Firmus withdrew its planned listing, reflecting ongoing pressure on new share sales. Reuters said the AI data-center operator abandoned the IPO and will seek private funding instead. The decision showed that investors are still demanding tighter valuations and more proof of fundamentals. It also added to the list of delayed or scrapped listings this year.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
