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

Friday, September 04

Noteworthy macro moves today: US 2Y Treasury Bond Index -0.1%. Hang Seng 50 Index (China) +2.2%. EUR/USD -0.4%. Noteworthy US mega-cap moves today: Tencent Holdings Ltd (TCEHY) +5.0%. Tesla Inc (TSLA) -3.2%. Oracle Corp (ORCL) +2.3%.

Global equity indices are trading mixed, with European and Asian markets higher while U.S. indices are generally lower as investors await key economic data. The U.S. cash equity and bond markets are closed today for a public holiday in Canada, but futures indicate a broadly lower session for U.S. stocks.

In the U.S., the August non-farm payrolls report released today showed that the economy added 162k jobs, significantly exceeding market expectations of 56k and following an upwardly revised increase of 21k in July. The unemployment rate held steady at 4.1%, with total employment rising by 569k to reach approximately 162.75 million.

Also released today, average hourly earnings rose by $0.10 or 0.3% month-over-month to $37.75, matching forecasts after a prior gain of 0.2%. The labor force participation rate increased to 61.6%, reflecting a growing number of individuals either employed or actively seeking work.

In Europe, factory orders in Germany surged by 2.5% in July, defying expectations for only a modest increase of 0.3%. This positive data contrasts with ongoing concerns about consumer spending in the Eurozone as retail sales declined by -0.6% month-over-month in July.

VanEck Gold Miners ETF (GDX) [-3.8%]
The VanEck Gold Miners ETF is declining during pre-market hours, influenced by the recent U.S. Employment Situation report, which revealed a significant addition of 162,000 jobs in August alongside an unchanged unemployment rate of 4.1%. This strong job growth has heightened expectations for Federal Reserve interest rate hikes, typically detrimental to gold prices as higher rates bolster the dollar and diminish demand for non-yielding assets like gold. Additionally, gold prices have dropped by 1.81%, reflecting a strong historical correlation with GDX. This decline in gold prices contributes to GDX's current downward movement of approximately 3.8%. Today's action marks a departure from the recent trend of higher daily closes observed since Thursday's close.

ROBO Global Robotics & Automation Index ETF (ROBO) [+1.8%]
Federal Reserve Governor Christopher Waller's recent comments supporting the maintenance of current interest rates have contributed to a rally in U.S. stock markets, positively impacting investor sentiment across sectors, including robotics and automation, which ROBO Global Robotics & Automation Index ETF tracks. This environment has supported ROBO's gain in pre-market hours, reflecting an upward movement since Thursday's close. The ETF's performance has also been bolstered by significant contributions from its holdings, including IOT and TER, which have seen notable returns. Additionally, the Nasdaq 100 Index's increase aligns with ROBO's upward trend, as both assets often respond similarly to macroeconomic factors.

SPDR Gold Shares (GLD) [-1.8%]
Gold prices fell by 2% to $4,453 following the release of stronger-than-expected economic data, with nonfarm payrolls for August reported at 162,000, significantly above the anticipated 55,000. The unemployment rate held steady at 4.1%. This economic backdrop has contributed to market concerns about potential interest rate hikes amid ongoing geopolitical tensions in the Middle East. As a result, SPDR Gold Shares are experiencing downward pressure during pre-market trading on Friday, reflecting a shift from the recent trend of higher daily closes since Thursday's close.

TSLA | -2.5% | -36.8B
Tesla Inc | Consumer Discretionary
Tesla Inc experienced a notable decline in pre-market trading following the launch of its steering-wheel-free Cybercab in Austin, Texas. The event received criticism for being underwhelming, with investor Gary Black describing it as "largely a bust" and raising concerns over production plans. Compounding this, the National Highway Traffic Safety Administration has initiated an audit into approximately 1,000 Cybercab vehicles, scrutinizing Tesla's certification process. This regulatory scrutiny and concerns about the vehicle's unconventional design have contributed to negative sentiment surrounding the launch. Earlier in the session, shares rebounded from a session high but remain lower as investors react to these developments.

IOT | +13.1% | +3.3B
Samsara Inc | Information Technology
Samsara Inc has experienced a notable increase in its stock price during pre-market hours, following several analysts' upward revisions of price targets. KeyBanc raised its target to $55 from $46, and BMO Capital increased its target to $54 from $44, both maintaining an Outperform rating. RBC Capital also lifted its target to $55 from $50, reflecting strong confidence in the company's performance after its recent earnings report. The company reported second-quarter revenue of $508.4 million, exceeding estimates of $483 million, and an adjusted EPS of $0.20, surpassing the consensus estimate of $0.16. Additionally, Samsara announced that its annual recurring revenue reached $2.1 billion, with a consistent 30% year-over-year growth for the third consecutive quarter. These developments have contributed to Samsara's stock trading sharply higher since Thursday's close.

BLK | +0.8% | +1.5B
BlackRock Inc | Financials
BlackRock Inc is experiencing a decline during pre-market hours, influenced by a significant drop in the Asset Management & Custody Banks sub-sector. The resignation of Philip Tseng as trustee, board chair, CEO, and Co-chief investment officer of BlackRock's private credit fund, effective August 31, 2026, may be contributing to the stock's downward movement. Jason Mehring has been appointed to succeed him starting September 2, 2026. Additionally, the Dow Jones Index has decreased slightly, which may reflect broader market sentiment impacting BlackRock's performance. The stock is trading near the lower end of its one-month range and remains below its 20-day moving average.

ZS | -4.2% | -1.2B
Zscaler Inc | Information Technology
Zscaler Inc's stock is declining amid mixed analyst updates and concerns regarding its future guidance. The company announced a 3% workforce reduction to focus on artificial intelligence initiatives, which may have unsettled investors. While Zscaler reported strong fourth-quarter results with a 25% year-over-year revenue increase, its forward guidance for the first quarter and fiscal year 2027 fell slightly short of expectations. Analysts from Needham and Barclays raised their price targets to $215 and $200, respectively, but the overall sentiment remains negative. Earlier in the session, shares rebounded from a session low before continuing to trade lower.

DOCU | +0.8% | +0.1B
DocuSign Inc | Information Technology
DocuSign Inc is experiencing positive momentum following the release of strong Q2 earnings, with revenue of $875.7 million and adjusted EPS of $1.16, both exceeding analyst expectations. The company raised its fiscal 2027 revenue guidance to a range of $3.499 billion to $3.507 billion, reflecting an increase in annual recurring revenue growth outlook to between 8.5% and 9%. Analysts from Piper Sandler and Baird raised their price targets to $75 and $72, respectively, while maintaining Neutral ratings. These developments contributed to a favorable market response during pre-market hours on Friday, with shares advancing. Earlier in the session, however, the stock pulled back from a session high, indicating some volatility despite the overall positive sentiment following the earnings report.

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