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

Friday, July 17

Noteworthy macro moves today: Nasdaq 100 Index (US) -1.9%. Nikkei 225 Index (Japan) -4.5%. Hang Seng 50 Index (China) -2.5%. Noteworthy US mega-cap moves today: Space Exploration Technologies Corp. Class A Common Stock (SPCX) -4.3%. NVIDIA Corp (NVDA) -2.6%. Broadcom Inc (AVGO) -2.4%.

Global equity markets are trading lower, with significant declines in Asia as the Nikkei 225 Index fell by 4.5% and the Hang Seng Index dropped by 2.5%. The Nasdaq 100 Index in the U.S. also saw a notable decline of 1.9%, reflecting broader risk-off sentiment amid geopolitical tensions and concerns over inflation.

Recent news highlights rising public sentiment against economic prospects under Trump's leadership, as reported today, which may be contributing to market unease alongside ongoing military escalations between the U.S. and Iran that have pressured oil prices higher.

In economic data released today, U.S. export prices fell by 0.6% month-over-month in June, marking the first monthly decline since May 2025 and exceeding expectations for a smaller drop of 0.4%. Additionally, import prices unexpectedly rose by 0.3%, contrasting sharply with forecasts of a decline.

Housing starts surged by 19% to an annualized rate of 1.427 million units in June, significantly above expectations of 1.310 million, indicating robust activity in residential construction despite a drop in building permits by more than anticipated.

iShares MSCI South Korea ETF (EWY) [-3.4%]
Geopolitical tensions have escalated as military strikes in the Middle East by the U.S. and Iran raise investor concerns, contributing to declines in major indices, including the S&P 500 and Nasdaq. This backdrop has influenced the iShares MSCI South Korea ETF, which is trading lower during pre-market hours. The ETF has fallen significantly, with reports indicating it is down nearly 30% from its June peak. Additionally, an oil tanker incident in the Black Sea suggests potential disruptions that could impact global maritime operations. The broader market weakness, reflected in a decline of approximately 0.91% in the S&P 500, further exacerbates the downward pressure on EWY.

VanEck Semiconductor ETF (SMH) [-3.4%]
The VanEck Semiconductor ETF is facing downward pressure amid a global sell-off in technology and semiconductor stocks. This follows a decline of 3.70% during the prior U.S. trading session, driven by concerns over rising costs associated with AI infrastructure spending. Notably, Taiwan Semiconductor Manufacturing Co.'s increased capital expenditure forecast has heightened fears regarding the sustainability of spending levels in the sector. The ETF has now declined nearly 9% over the past month, reflecting a significant pullback in investor sentiment. Additionally, major indices, particularly in the technology sector, are experiencing declines, with the Nasdaq Composite down 1.5%, further contributing to SMH's current lower performance. Social media discussions indicate bearish sentiment, with traders expressing concerns about potential further declines if buying interest does not emerge.

ROBO Global Robotics & Automation Index ETF (ROBO) [-2.4%]
Geopolitical tensions have escalated as the U.S. and Iran expanded military strikes across the Middle East, contributing to a significant downturn in major indices, including technology stocks critical to the ROBO Global Robotics & Automation Index ETF. Asian markets also faced substantial declines due to concerns over high valuations in tech sectors following disappointing corporate updates related to artificial intelligence spending. Among the ETF's holdings, Intuitive Surgical (ISRG) experienced a notable decline of -10.14%, significantly impacting ROBO's performance. In pre-market hours, ROBO is trading lower, reflecting a broader trend as the S&P 500 Index has also declined. The ETF briefly reached a gain earlier but has since dropped to its lowest point, indicating ongoing weakness following three consecutive lower daily closes.

SPCX | -4.2% | -38.8B
Space Exploration Technologies Corp. Class A Common Stock | Industrials
Space Exploration Technologies Corp. Class A Common Stock is experiencing a decline in pre-market trading following negative sentiment stemming from an aborted Starship test flight due to an engine ignition failure. This incident, which occurred during a critical launch attempt on Thursday, has compounded prior losses, marking the fifth consecutive session of declines. The stock is now trading below its IPO price of $135, reflecting concerns over its high valuation and potential future declines, with analysts suggesting further drops may occur in the coming months. Social media discussions have highlighted this as the first instance of SPCX closing below its IPO price, with mixed sentiment among traders regarding the implications of the failed launch for future performance.

INTC | -4.2% | -16.7B
Intel Corp | Information Technology
Global chip stocks continued to decline on Friday, with the iShares Semiconductor ETF falling 3.7% before the market opened, contributing to a nearly 7% drop for the week. This broader market weakness is reflected in Intel Corp's pre-market performance, where shares fell more than 4%. Analysts indicate that investor concerns regarding the sustainability of the ongoing AI capital expenditure boom are raising questions about future profitability in the semiconductor sector. Significant declines in major Asian indices have further influenced sentiment in the U.S. market, contributing to Intel's lower price movement during pre-market hours.

ISRG | -10.1% | -13.0B
Intuitive Surgical Inc | Health Care
Concerns regarding demand for Intuitive Surgical's da Vinci surgical systems have resurfaced, leading to a notable decline in shares during pre-market hours. Although the company maintained its full-year growth forecast for procedures, projecting an increase of 13.5% to 15.5%, it cautioned that changes in U.S. insurance plans could negatively impact demand. This cautious outlook follows Abbott Laboratories' remarks about overstated fears related to the Affordable Care Act's enrollment trends. Analysts expressed disappointment with Intuitive's conservative guidance, particularly in light of competitors' recent performance, and several lowered their price targets, contributing to negative sentiment. Following the company's strong Q2 2026 results, which included revenue of $2.89 billion and adjusted EPS of $2.80, the stock experienced significant weakness, reflecting ongoing investor concerns about surgery volumes and insurance coverage changes.

CDNS | -6.2% | -5.8B
Cadence Design Systems Inc | Information Technology
Cadence Design Systems Inc's stock is sharply lower in pre-market trading following the announcement that Rapidus has integrated its InnoStack AI Super Agent into its AI-Agentic Design Solution. This collaboration aims to enhance advanced-node system-on-chip design, potentially doubling design turnaround times. Anirudh Devgan, Cadence's CEO, underscored the significance of agentic AI in managing complex workflows throughout the design lifecycle. The stock's decline reflects broader bearish sentiment in the tech sector, where major companies have faced significant declines amid concerns over inflated valuations and profit sustainability in AI-related stocks.

NFLX | -11.4% | -3.2B
Netflix Inc | Communication Services
Negative assessments from Barclays and Pivotal Research have contributed to a significant decline in Netflix Inc's share price during pre-market hours. Barclays lowered its price target to $80, citing concerns about growth drivers and Netflix's competitive position. Pivotal Research cut its target to $70, highlighting weak third-quarter revenue guidance of $12.86 billion, which falls short of Wall Street's expectation of $13 billion. Analysts expressed apprehension regarding the company's decision to reduce engagement disclosures, further intensifying investor concerns about its growth trajectory. Following these developments, shares were positioned for their worst single-day fall in nine months, reflecting bearish sentiment.

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