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

Friday, November 13

Noteworthy macro moves today: US 2Y Treasury Bond Index +0.1%. Bitcoin -2.1%. Hang Seng 50 Index (China) -1.8%. Noteworthy US mega-cap moves today: Cisco Systems Inc (CSCO) -3.1%. Advanced Micro Devices, Inc. (AMD) -2.8%. Broadcom Inc (AVGO) -2.3%.

Global equity indices are trading mixed, with U.S. stocks higher while Asian markets are lower. The U.S. equity market is buoyed by a rebound in major indices following recent volatility, particularly after Nvidia's CEO resignation raised concerns about the tech sector's stability and future growth prospects.

In the U.S., the Producer Price Index (PPI) for October was released today, showing a month-over-month increase of 0.3%, below expectations of 0.4%. Core PPI also rose by 0.3%, matching forecasts but indicating a slowdown from previous months, which may influence Federal Reserve policy as inflationary pressures remain a concern.

In Europe, the Euro Area reported a trade deficit of €10.3 billion for September, larger than expected and reflecting ongoing challenges in balancing imports and exports amid rising energy costs. Additionally, Eurozone GDP growth was confirmed at 1.3% year-on-year for Q3, suggesting resilience despite economic headwinds.

Geopolitical tensions continue to impact market sentiment; President Trump's comments regarding Iran have heightened concerns over oil supply disruptions and inflation risks, contributing to rising Treasury yields and affecting risk assets globally.

State Street Industrial Select Sector SPDR ETF (XLI) [+1.1%]
Positive analyst ratings for GE Vernova from Jeffries and a favorable outlook from Citi have contributed to the rise of State Street Industrial Select Sector SPDR ETF in pre-market trading. The ETF is advancing, supported by strong gains in several of its holdings, including Caterpillar and RTX Corporation. Additionally, discussions around Modine Manufacturing's potential acquisition by Samsung have lifted Caterpillar shares, while RTX has seen gains amid supply disruption concerns. Vertiv Holdings also bolstered the sector with a new product launch and an increased dividend. The Russell 2000 Index is also slightly higher, reflecting broader market movements amid escalating geopolitical tensions and rising inflation concerns.

iShares MSCI South Korea ETF (EWY) [-1.0%]
Nvidia's CEO resignation has contributed to uncertainty in tech markets globally, affecting investor sentiment towards firms represented in the iShares MSCI South Korea ETF. The fund is declining in pre-market trading, driven by sharp declines in holdings such as SKHY, which were only partially offset by gains in SKM. The broader South Korean KOSPI index is also experiencing losses, particularly in the technology and energy sectors. This decline follows heightened geopolitical tensions related to oil supply disruptions after attacks on tankers near the Strait of Hormuz, raising concerns about inflation and economic stability.

Vanguard Information Technology ETF (VGT) [+1.0%]
The Vanguard Information Technology ETF is modestly higher during pre-market hours, driven by strong gains in key holdings including NVIDIA, Apple, Palo Alto Networks, CrowdStrike, and Oracle. NVIDIA's stock rose amid news of potential leadership changes and congressional scrutiny, while Apple benefited from speculation about its Chief Hardware Officer as a candidate for NVIDIA's CEO position. Additionally, upgrades for Palo Alto Networks and CrowdStrike contributed to the overall upward movement in the ETF. In the broader market, the S&P 500 Index is also slightly higher, influenced by escalating geopolitical tensions and fluctuations in global oil prices.

NVDA | +1.7% | +70.9B
NVIDIA Corporation | Information Technology
NVIDIA Corporation is reportedly considering Apple's Johny Srouji as a CEO candidate following the resignation of co-founder Jensen Huang amid allegations of personal misconduct. This leadership uncertainty has raised concerns about NVIDIA's future, particularly regarding its aggressive AI investment strategy, which may be slowed down due to the recent developments. Concurrently, OpenAI's support for restricting China's access to AI chips has implications for NVIDIA's operations. The stock is advancing in pre-market trading as retail investors have shown significant interest, purchasing approximately $1.6 billion in NVIDIA stock over the past three days, marking their largest buying spree in over a year. The upcoming earnings report on November 17 is expected to be closely monitored as it will be the first since Huang's departure.

PANW | +2.6% | +7.1B
Palo Alto Networks, Inc. | Information Technology
Palo Alto Networks, Inc. saw a notable pre-market increase following an upgrade from KeyBanc Capital Markets, which raised its rating to Overweight from Sector Weight and set a price target of $380. The firm cited a recent pullback in shares and anticipates an acceleration in security budgets through 2027. Users on X noted the upgrade and price target. The stock is trading sharply higher since Thursday's close, with performance improving notably during the session.

CBRS | +10.5% | +2.7B
Cerebras Systems Inc | Information Technology
Cerebras Systems Inc reported record third-quarter results, achieving core revenue of $230.9 million, surpassing estimates of $215 million and reflecting a 70% year-over-year increase. The company also raised its full-year revenue outlook to between $940 million and $960 million, up from previous guidance of $880 million to $890 million. Despite recent price target downgrades from Needham and Mizuho, the stock is sharply higher in pre-market trading. Additionally, Cerebras announced a significant cloud deal with Microsoft, enhancing its partnerships with major hyperscalers. Users on X discussed the positive reception of the earnings report, noting the raised guidance and strong performance in core revenue.

WSE | +6.9% | +0.8B
Wise Group PLC | Financials
Wise Group PLC reported robust first-half results for FY27, with active customers increasing by 21% year-over-year to over 16 million. Income before tax rose 9% to $334.90 million, while net revenue surged 23% to $1.45 billion. The company expects its income before tax margin to remain at the top end of the 20-25% range for FY27, alongside forecasted constant currency net revenue growth of 17.5%-20%. Jefferies highlighted the positive resolution of the Brussels prosecutor matter without an admission of wrongdoing and noted Wise Platform's partnerships with two of North America's largest banks, addressing previous investor concerns. In pre-market trading, shares are advancing significantly since Thursday's close.

DPZ | +2.3% | +0.3B
Domino's Pizza, Inc. | Consumer Discretionary
Domino's Pizza, Inc. received an upgrade from Baird to Outperform, with a new price target of $400, announced at 7:32 AM ET. This development coincided with a significant increase in the stock's price during pre-market hours. Earlier in the session, the shares pulled back from a session high but are now trading sharply higher since Thursday's close, approaching the upper end of their one-month range. The positive momentum follows management's reports of stronger free cash flow and lower net debt, indicating improvements in cash generation and sales performance.

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