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

Wednesday, August 12

Noteworthy macro moves today: Hang Seng 50 Index (China) -2.4%. US 10Y Treasury Bond Index +0.2%. US 2Y Treasury Bond Index +0.1%. Noteworthy US mega-cap moves today: Space Exploration Technologies Corp. Class A Common Stock (SPCX) +1.7%. Exxon Mobil Corp (XOM) -1.3%. Microsoft Corp (MSFT) -1.0%.

Global equity indices are trading mixed, with U.S. markets higher while Asian markets show weakness, particularly the Hang Seng 50 Index which is down by 2.4%. U.S. stocks are buoyed by positive sentiment ahead of key inflation data, while European indices reflect a mixed performance with the DAX and IBEX 35 higher but the CAC 40 and FTSE 100 lower.

In the U.S., core consumer prices rose by 0.2% in July, matching market expectations, while the annual inflation rate slowed to 3.4%, down from June's rate of 3.5%. This data was released today and indicates that inflationary pressures may be stabilizing, which could influence Federal Reserve policy decisions moving forward.

Additionally, mortgage rates have dropped to 6.77%, contributing to a rebound in mortgage applications by 3.6%, marking the first increase in three weeks as lower Treasury yields ease borrowing costs for consumers amid fluctuating economic conditions.

Geopolitical tensions continue to impact market sentiment; concerns over Iran's real estate sector and ongoing military actions in Ukraine are contributing to fluctuations in currency values and oil prices, further complicating investor outlooks as they await further economic indicators.

iShares MSCI South Korea ETF (EWY) [+3.7%]
The South Korean stock market, represented by the KOSPI index, saw a modest increase today, rising 45.87 points to close at 6,345.53, driven by gains in technology stocks. This upward movement may positively influence the iShares MSCI South Korea ETF as it tracks large- and mid-cap Korean firms. In pre-market trading, the ETF is advancing, reflecting a notable increase since Tuesday's close. Additionally, it has been highlighted as the second-best performing iShares ETF year-to-date, with a return of +66.39%. The S&P 500 Index also moved higher, which may contribute to the positive sentiment surrounding EWY, as both assets are likely responding to similar macroeconomic factors.

VanEck Gold Miners ETF (GDX) [+2.6%]
Gold prices surged over 1% as traders anticipate that the U.S. Federal Reserve will maintain current interest rates following a surprise contraction in the U.S. jobs market. This increase is likely contributing to the VanEck Gold Miners ETF's positive performance during pre-market hours, with shares gaining in value. Ongoing geopolitical tensions and rising crude oil prices are also influencing investor sentiment towards safe-haven assets like gold, further supporting price movement. Among the ETF's holdings, Newmont Corporation, AngloGold Ashanti, and Agnico Eagle Mines were among the top contributors to the ETF's performance.

VanEck Semiconductor ETF (SMH) [+2.0%]
Pre-market trading for the VanEck Semiconductor ETF shows a notable upward movement, reflecting strong momentum as it approaches the upper end of its one-month trading range. The ETF has gained traction, supported by significant contributions from key holdings, including NVIDIA, which returned 0.99%, and Applied Materials, which saw a return of 3.47%. Other contributors such as Micron Technology and Broadcom also added positively to performance. While broader indices like the Nasdaq 100 have increased by 0.91%, the semiconductor sector appears to be outperforming, indicating that selling pressure is concentrated elsewhere. Discussions on social media emphasize a focus on the price level of 603.5, suggesting it may be a critical point for traders.

LITE | +8.2% | +4.9B
Lumentum Holdings Inc | Information Technology
Lumentum Holdings Inc reported strong quarterly results, exceeding Wall Street expectations with Q4 adjusted EPS of $3.23, surpassing the $2.97 consensus, and revenue of $1.01 billion, above the anticipated $987.7 million. The company provided optimistic guidance for Q1, projecting EPS between $4.05 and $4.35 and revenue between $1.225 billion and $1.275 billion, both above market estimates. Following these results, analysts responded positively, with Citi raising its price target to $1,200 from $1,100 while maintaining a Buy rating. This favorable outlook has contributed to Lumentum's stock trading sharply higher in pre-market hours, reflecting increased investor confidence in the company's growth trajectory driven by strong demand in AI applications.

ATHE | +6.4% | +1.7B
Alterity Therapeutics Ltd | Health Care
Alterity Therapeutics Ltd announced the grant of a new composition of matter patent for its lead clinical asset, ATH434, which extends protection until at least 2045. This patent significantly enhances the commercial potential of ATH434, aimed at treating neurodegenerative diseases such as Multiple System Atrophy and Parkinson's disease. The announcement, made at 7:46 AM ET, marks a critical milestone as the company prepares to initiate Phase 3 trial activities in MSA by the end of 2026. Following this news, Alterity Therapeutics shares are trading sharply higher in pre-market hours, reflecting strong investor interest and confidence in the company's future development opportunities and potential partnerships.

NBIX | -6.6% | -1.0B
Neurocrine Biosciences Inc | Health Care
Neurocrine Biosciences Inc's stock has declined amid safety concerns surrounding its Vykat XR drug, which has been linked to seven reported deaths as of July 31, 2026. Experts specializing in Prader-Willi Syndrome have raised alarms about serious adverse events associated with the drug, overshadowing recent positive findings from the KINECT-PRO study. This study demonstrated significant improvements in quality of life for patients with tardive dyskinesia using INGREZZA. Despite these advancements, negative sentiment regarding Vykat XR has driven shares lower during pre-market hours. Earlier in the session, the stock did experience a brief uptick but has since pulled back significantly from that high.

ENTG | +4.2% | +1.0B
Entegris Inc | Information Technology
Deutsche Bank upgraded Entegris Inc to a Buy rating and raised its price target to $200 from $152, reflecting a positive outlook on the company's growth potential within the semiconductor sector. The analyst expects the upcoming wafer fabrication equipment cycle to significantly boost capital expenditure-related revenues, aided by new semiconductor fabrication plants. Additionally, a cyclical recovery in semiconductors and strong spending on advanced nodes are anticipated to offset any softness in consumer electronics. Recent strategic actions by management are expected to enhance operating efficiencies and unlock margin expansion faster than peers. Entegris shares are trading sharply higher in pre-market hours, reflecting this upgrade and optimism surrounding the company's future prospects.

PFGC | -4.9% | -0.8B
Performance Food Group Co | Consumer Staples
Performance Food Group Co reported fourth-quarter results that fell short of analysts' expectations, contributing to a decline in the stock during pre-market hours. The company posted adjusted earnings per share of $1.59, slightly below the consensus estimate of $1.60. Revenue for the quarter reached $18.03 billion, missing the $18.11 billion estimate. Additionally, the guidance for first-quarter sales was set between $17.9 billion and $18.1 billion, below the consensus estimate of $18.13 billion. Despite a year-over-year revenue increase of 6.4%, these results and projections have raised concerns among investors regarding future growth potential. As a result, shares are trading lower since Tuesday's close.

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