Welcome to the MarketReader Minute.

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

If you find the insights useful, you may subscribe to our new sector-specific newsletters or share this on Twitter.

Thursday, September 4

Noteworthy US mega-cap moves today: Amazon.com Inc (AMZN) +2.2%. Meta Platforms Inc (META) +1.7%.

Recent economic data releases from the U.S. have shown mixed signals regarding labor market conditions, which are influencing expectations for Federal Reserve policy. Initial jobless claims rose to 237,000—above forecasts of 230,000—and private sector employment growth was weaker than anticipated at just 54,000 jobs added in August compared to an expected increase of 65,000. These developments suggest a cooling labor market that may prompt more cautious monetary policy decisions by the Fed.

In global markets today, Asian equities experienced gains despite significant declines in Chinese and Hong Kong stocks due to regulatory concerns affecting those regions' financial environments. European indices also showed positive movement as bond market jitters eased following dovish comments from Federal Reserve officials about interest rate cuts amid ongoing inflation pressures and signs of slowing economic activity.

Additionally, oil prices continued their downward trend with WTI crude falling over two percent ahead of an OPEC+ meeting where output targets might be discussed further amidst oversupply fears. This decline is contributing to broader volatility across commodities while impacting related sectors within equity markets globally.

SPDR Gold Shares (GLD) [-0.5%]
SPDR Gold Shares (GLD) has seen a price decline of 0.5% in pre-market trading. This movement coincides with a broader dip in gold prices, which have decreased following a nearly 0.4% daily return. The recent rise in the U.S. dollar against major currencies, alongside expectations of interest rate cuts by the Federal Reserve due to softening labor market conditions, appears to influence this trend. Concurrently, silver has also dropped over 0.5%, reflecting its historical correlation with gold and contributing to the overall sentiment affecting precious metals. Notably, the World Gold Council has proposed a Wholesale Digital Gold ecosystem aimed at enhancing market operations amid record gold prices exceeding $3,560 an ounce, although December gold futures have recently declined by 1% to $3,600 per ounce.

Ethereum (ETH/USD) [-1.2%]
Ethereum's daily return has dropped significantly, influenced by a notable decline in global equity markets and rising concerns about economic conditions, including the highest level of job cuts reported for August since 2020. Concurrently, expectations of interest rate cuts from the Federal Reserve have contributed to volatility across financial assets, failing to counteract the bearish sentiment affecting cryptocurrencies. On social media, it was reported that firms like BitMine have added substantial amounts of ETH to their balance sheets, including a recent acquisition of 14,665 ETH valued at approximately $65.3 million. Additionally, Ethereum "millionaire & small billionaire" whales have increased their holdings by 14% over the past five months. Binance has staked a significant amount in ETH as part of a broader investment strategy, while the launch of ETH Flash Rewards aims to incentivize user engagement. Meanwhile, Bitcoin has also declined, reflecting broader market sentiment that may be impacting Ethereum.

CIEN | +12.6% | +1.9B
Ciena Corp | Communications Equipment
Ciena Corp reported fiscal Q3 2025 results showing revenue of $1.22 billion, surpassing analyst expectations of $1.17 billion, and marking a 29.4% year-over-year increase. The adjusted EPS was $0.67, exceeding the consensus estimate of $0.53. For Q4, Ciena projects revenue between $1.24 billion and $1.32 billion, above the consensus estimate of $1.21 billion, with anticipated adjusted gross margins of 42% to 43%. Adjusted net income for Q3 reached $96.2 million, compared to an expected $77 million. Following the earnings announcement, Ciena's share price increased significantly in premarket trading, reflecting positive market sentiment around these results. Social media discussions highlighted the earnings beat and favorable guidance, noting that this proactive sharing of guidance was a first in eight years.

CRM | -6.0% | -14.0B
Salesforce Inc | Application Software
Salesforce Inc reported its second-quarter fiscal 2026 results, achieving revenue of $10.24 billion and adjusted earnings of $2.91 per share, both exceeding analyst expectations. Despite this strong performance, the company's guidance for the third quarter fell short of estimates, projecting revenue between $10.24 billion and $10.29 billion, and adjusted earnings per share of $2.84 to $2.86. Additionally, Salesforce lowered its fiscal 2026 GAAP EPS guidance to a range of $6.99 to $7.03, below the analyst estimate of $7.22. Following these announcements, shares dropped significantly in after-hours trading. Social media discussions highlighted Salesforce's revenue growth of 10% year-over-year and the announcement of a $20 billion increase to its share repurchase program. Despite these positive aspects, shares fell approximately 4% after the earnings release, with mixed sentiments regarding future growth potential in a competitive landscape.

CRDO | +11.7% | +2.7B
Credo Technology Group Holding Ltd | Semiconductors
Credo Technology Group Holding Ltd reported its first quarter financial results, revealing revenue of 223.1 million, significantly exceeding the analyst estimate of 190.8 million. The adjusted earnings per share were 0.52, surpassing expectations of 0.36, marking a notable year-over-year increase. For the second quarter, the company anticipates revenue between 230 million and 240 million, also above analysts' forecasts. Following these results, several analysts raised their price targets, with Stifel increasing its target to 155 from 130, Needham raising its target to 150 from 85, and Susquehanna lifting its target to 165 from 115. Social media discussions highlighted a strong performance, noting a GAAP net income of 63.4 million and a non-GAAP net income of 98.3 million, alongside a significant year-over-year revenue growth of approximately 274%. The stock has seen a notable increase following the earnings announcement.

NIO | -3.9% | -491.5M
NIO Inc | Automobile Manufacturers
NIO Inc. has experienced downward pressure following the release of mixed second-quarter earnings results, which were disclosed approximately 15 hours ago. The company reported quarterly sales reflecting a year-over-year increase, but ongoing margin pressure tempered this performance. Notably, CGS raised its target price for NIO, while Freedom Broker downgraded its rating from Buy to Hold with a revised price target of $6.50 shortly after the earnings report. Social media discussions highlighted NIO's partnership with McLaren, expected to generate substantial technical service revenue, and noted that its Automatic Emergency Braking system has reportedly saved numerous lives. Concurrently, CFRA maintained a Hold opinion with a target price of $7.00, while Huatai Securities assigned a Buy rating with a target price of $7.56. Additionally, C3.ai Inc. experienced a significant decline following disappointing financial results, which may be influencing NIO's recent price action.

AMZN | +2.3% | +55.6B
Amazon.com Inc | Broadline Retail
Amazon.com Inc is experiencing a price increase, coinciding with significant upward movement in the Broadline Retail sector. The company has completed its acquisition of Bengaluru-based fintech lender Axio, securing a direct lending license in India, which will enable it to offer a variety of credit products. This acquisition, approved by the Reserve Bank of India in June, positions Amazon to enhance its fintech operations in the region. Meanwhile, Amazon is facing a class action lawsuit concerning allegations of inflated fees imposed on third-party sellers, which has been allowed to proceed by a U.S. District Judge. Additionally, Barclays has noted that Anthropic is contributing positively to AWS growth, with expectations for further increases as new technologies are integrated.

META | +1.6% | +30.6B
Meta Platforms Inc | Interactive Media & Services
Meta Platforms Inc. experienced notable price movement, reflecting a rise attributed to positive comments from Cleveland, though no specific confirmation of these remarks was provided. Early trading indicated an increase in the premarket session. In addition, Australia is preparing to implement legislation on December 10 that will prohibit individuals under the age of 16 from accessing social media platforms, requiring companies like Meta to deactivate accounts belonging to minors. This development adds a layer of regulatory scrutiny for the company as it navigates its operations in the region.

Thank you for spending a minute with us. 

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