Welcome to the MarketReader Minute.

Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Friday, September 25

Noteworthy macro moves today: USD/JPY -0.7%. GBP/USD +0.3%. US Dollar Index -0.3%. Noteworthy US mega-cap moves today: Advanced Micro Devices Inc (AMD) +2.6%. AbbVie Inc (ABBV) -1.2%. Chevron Corp (CVX) -1.1%.

Global equity indices are trading mixed, with U.S. and European markets higher while Asian markets are lower, particularly impacted by the closure of cash markets in China for the Mid-Autumn Festival holiday. U.S. equity indices are showing gains as investors react to recent economic data releases and ongoing geopolitical developments.

In the U.S., Durable Goods Orders, released today, were flat at 0% for August, significantly better than the forecasted decline of 0.4%. Additionally, Durable Goods Orders excluding transportation rose by 0.3%, slightly below expectations of a 0.6% increase, indicating some resilience in manufacturing despite broader economic concerns.

Germany's GfK Consumer Confidence index fell to -30.6 for October from -26.8 in September, worse than the expected -27.4 reading, reflecting growing pessimism among consumers due to rising energy prices impacting income expectations. Meanwhile, Eurozone loans to households grew by 3.1% year-on-year but also missed forecasts of a stronger increase.

The bond market is experiencing volatility as Treasury yields rise sharply; the U.S. 10-year yield has reached its highest level since July 2007 amid concerns over inflation and interest rate hikes from central banks globally. This environment is contributing to mixed sentiment across risk assets as investors weigh potential impacts on equities.

United States Oil Fund LP (USO) [-2.8%]
Concerns regarding the oil market have escalated due to geopolitical developments, with economist Peter Schiff warning that high diesel prices and a depleted Strategic Petroleum Reserve could expose the U.S. to energy shocks. California's diesel prices approached $10 per gallon, while the national average remains elevated. West Texas Intermediate crude futures declined, contributing to a drop in oil-related ETFs, including the United States Oil Fund, which fell in pre-market trading. Additionally, reports of a potential breakthrough in U.S.-Iran negotiations could reopen the Strait of Hormuz, adding further volatility to energy markets. The asset has been trading lower since Thursday's close.

iShares MSCI South Korea ETF (EWY) [+1.8%]
The iShares MSCI South Korea ETF is advancing in pre-market trading, supported by gains in several of its holdings, particularly SKHY, SKM, and KEP. This upward movement coincides with a slight increase in the Nasdaq 100 Index, which has been buoyed by rising crude oil prices and easing tensions in U.S.-Iran negotiations. Additionally, President Xi announced a new trade arrangement between China and the U.S., which is anticipated to positively impact the global economy. The South Korean KOSPI index is closed today due to the Chuseok Thanksgiving Day holiday, likely affecting trading volumes as local investors are absent from market activities.

VanEck Gold Miners ETF (GDX) [+1.7%]
The VanEck Gold Miners ETF is advancing in pre-market trading, buoyed by strong gains in key holdings such as Agnico Eagle Mines and Franco-Nevada Corp, which reported significant revenue growth. Newmont Corporation is also recovering from prior losses, while Barrick Mining Corp has seen an uptick following a recent decline. AngloGold Ashanti announced a new director and an upcoming investor site visit. Gold prices have surged towards $4.3k an ounce amid easing tensions in the Middle East, which may enhance gold's appeal as a safe-haven asset. The ETF is trading higher since Thursday's close, remaining below its 20-day moving average and near the lower end of its one-month range.

AKAM | +15.4% | +2.9B
Akamai Technologies Inc | Information Technology
Akamai Technologies Inc announced a substantial seven-year agreement with Anthropic valued at $11.6 billion, which could expand to $20 billion to meet Anthropic's growing CPU workload demands using Akamai's cloud infrastructure. This deal builds on a previous $1.8 billion partnership between the two companies and includes warrants for Anthropic to acquire up to 5% of Akamai's common stock. Following the announcement, the stock experienced significant pre-market gains. Bank of America Securities maintained a Buy rating on the company and raised its price target to $185. The stock is trading sharply higher since Thursday's close and remains well above its 20-day moving average.

FJTSY | +5.2% | +2.4B
Fujitsu Ltd | Information Technology
Macquarie analyst Hiroshi Yamashina raised the price target on Fujitsu Ltd to JPY4.4k from JPY4k while maintaining an Outperform rating, reflecting increased confidence in the company's performance. In pre-market hours, shares of Fujitsu are trading sharply higher, significantly above their 20-day moving average and near the upper end of their one-month range.

COST | -0.5% | -2.0B
Costco Wholesale Corp | Consumer Staples
Costco Wholesale Corp's stock is experiencing a modest decline in pre-market trading following price target reductions from analysts. Wells Fargo's Edward Kelly lowered his target to $950 from $1k while maintaining an Equal Weight rating, and Truist Securities' Scot Ciccarelli cut his target to $955 from $1.01k with a Hold rating. Despite a strong fourth-quarter earnings report released on September 24, which showed an EPS of $6.75 and revenue of $95.72 billion, the stock is facing negative pressure amid cautious market sentiment. The shares are trading lower and remain significantly below their 20-day moving average, positioned near the lower end of their one-month trading range.

NKE | -2.2% | -1.1B
Nike Inc | Consumer Discretionary
Bank of America Securities downgraded Nike Inc to Underperform from Neutral, reducing its price target to $30 from $47. This decision, announced at 6:23 AM ET, is based on sales declines through fiscal year 2027, contrary to previous recovery forecasts. The downgrade coincided with Nike's shares reaching fresh 52-week lows. Following this news, the stock is trading lower in pre-market hours. Several firms have adjusted their price targets, with BMO and Morgan Stanley setting targets at $30 and JPMorgan at $40. Nike is set to report its Q1 FY2027 earnings after market close on October 1, 2026, with an EPS estimate of $0.44, down from a prior estimate of $0.49.

Thank you for spending a minute with us.

If you have 2 more minutes, watch this demo of the MarketReader Platform: