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

Thursday, September 24

Noteworthy macro moves today: Nasdaq 100 Index (US) -1.1%. S&P 500 Index (US) -0.6%. US 2Y Treasury Bond Index +0.1%. Noteworthy US mega-cap moves today: Oracle Corp (ORCL) -5.2%. Intel Corp (INTC) -3.2%. Advanced Micro Devices Inc (AMD) -3.0%.

Global equity indices are trading lower, with notable declines in the U.S. markets following a negative session on Wall Street yesterday. The Nasdaq 100 Index fell by 1.1%, while the S&P 500 Index decreased by 0.6%. This downward trend is attributed to rising oil prices and bond yields, which have rekindled inflation concerns and increased expectations for further interest rate hikes from the Federal Reserve.

In the U.S., initial jobless claims, released today, fell to 197k for the week ending September 19, better than market expectations of 201k. Continuing jobless claims also showed resilience, rising slightly to 1719k but remaining close to three-year lows. These figures indicate a strong labor market that may support the Fed's hawkish stance on interest rates amid ongoing inflationary pressures.

The current account deficit in the U.S., also reported today, narrowed to -246 billion dollars for Q2, compared to forecasts of -255 billion dollars. This improvement reflects a slight strengthening in trade balances despite persistent challenges in global economic conditions.

In Europe, Germany's Ifo Business Climate index rose to 89.9 in September from August's reading of 88.8, surpassing expectations and indicating improved business sentiment. However, France's consumer confidence remained subdued at an unchanged level of 86, suggesting mixed economic signals across the region as inflation concerns persist.

VanEck Semiconductor ETF (SMH) [-1.7%]
Rising inflation concerns and increasing U.S. bond yields are weighing on the VanEck Semiconductor ETF, which is declining in pre-market trading. Significant drops in key holdings including NVIDIA, AMD, Intel, Marvell Technology, and KLA Corporation have contributed to the sector's downturn. Intel's challenges with rising wafer fabrication costs, attributed to price hikes from Taiwan Semiconductor Manufacturing Company, further impact the semiconductor industry. Broader market volatility, linked to geopolitical tensions and surging oil prices, has raised operational cost concerns for technology firms reliant on stable energy pricing. Posts on social media indicate that SMH experienced an inside day, with notable call buying activity reflecting some traders' interest in potential upward movement.

iShares MSCI Japan ETF (EWJ) [-1.7%]
Rising inflation concerns and increased U.S. bond yields, following strong economic data from the United States, are weighing on the iShares MSCI Japan ETF as it declines in pre-market trading. Significant drops in key holdings such as Mizuho Financial Group, Toyota Motor Corp, and Sony Group Corp have contributed to the downward trend, with their stock prices remaining below recent averages. The weakening of the Japanese yen against major currencies has also been a headwind for the fund's performance. Broader market volatility is reflected in the slightly lower Nasdaq 100 Index, which historically correlates with the fund. The iShares MSCI Japan ETF remains below its 20-day moving average and near the lower end of its one-month range.

VanEck Gold Miners ETF (GDX) [-1.1%]
Analysts have lowered price targets for Kinross Gold due to operational challenges and reduced production guidance, contributing to declines in the VanEck Gold Miners ETF. Agnico Eagle Mines also fell amid rising U.S. Treasury yields and inflation concerns. The fund is declining in pre-market hours, reflecting ongoing weakness as it remains significantly below its 20-day moving average and near the lower end of its one-month range. Crude oil prices have surged amid renewed tensions between the U.S. and Iran, further contributing to inflation worries that may impact gold mining equities. Gold prices are little changed as investor behavior shifts in response to these macroeconomic factors.

META | -1.7% | -31.0B
Meta Platforms Inc | Communication Services
Meta Platforms Inc announced the launch of new devices, including the Meta VR Glasses set for release in Spring 2027 and the Muse Charm, a pocket-sized AI interaction device. Despite positive retail sentiment and analysts raising price targets—Citizens to $885 from $770 and JPMorgan to $920 from $820—the stock traded lower during Thursday's pre-market session. CEO Mark Zuckerberg emphasized the accessibility of AI through the Muse platform, which will be free for many users. This comes after a notable rally in September, where the stock experienced its best month in over 13 years.

UXIN | +10.0% | +8.1B
Uxin Ltd | Consumer Discretionary
Uxin Ltd reported its Q2 results, with total revenues rising 74.9% year-over-year to RMB 1.151 billion, although the company recorded a net loss of RMB 183.33 million compared to a loss of RMB 73.79 million in the prior year. The company reaffirmed its Q3 revenue guidance, projecting sales between $171 million and $175 million. Additionally, retail transaction volume surged to 19.61k units, marking an 88.8% increase from last year. Following these announcements, Uxin's shares are trading sharply higher in pre-market hours, reflecting strong investor response after the earnings report.

SHOP | -3.2% | -5.7B
Shopify Inc | Information Technology
Mizuho has reiterated its Outperform rating on Shopify Inc and maintained a price target of $180, amid negative market sentiment impacting the stock's performance. Despite this endorsement, Shopify's shares are trading lower in pre-market hours, reflecting a significant decline since Wednesday's close. The company recently announced a partnership with Meta's AI agent, Muse, which aims to enhance the shopping experience through agentic checkout with Shop Pay across all Shopify stores. CEO Tobi Lutke emphasized the strategic importance of this collaboration, while analysts from Deutsche Bank noted its integration with leading AI platforms.

P | +5.8% | +2.2B
Everpure Inc | Information Technology
Needham analyst Matthew Calitri raised the price target on Everpure Inc to $150 from $140 while maintaining a Buy rating. The company reaffirmed its fiscal 2027 outlook and provided preliminary guidance for fiscal 2028, expecting revenue between $7 billion and $7.3 billion, reflecting a year-over-year growth rate of 39% to 45%. Non-GAAP operating income for fiscal 2028 is projected to be between $1.7 billion and $1.9 billion, indicating a substantial growth rate of 80% to 100%. In pre-market trading, Everpure's stock is advancing sharply, contrasting with the flat action observed in the previous after-market session.

DRI | -3.2% | -0.7B
Darden Restaurants Inc | Consumer Discretionary
Darden Restaurants reported fiscal Q1 results showing net income of $233.4 million, or $2.04 per share, a decrease from $257.8 million, or $2.19 per share, a year earlier. Adjusted EPS was $2.05, slightly below the consensus estimate of $2.06, while revenue rose 5.1% to $3.200 billion but fell short of the expected $3.206 billion. The company reaffirmed its fiscal year 2027 earnings guidance of $11.10 to $11.35 per share, aligning with analyst expectations. Following these results, shares experienced a notable decline in pre-market trading amid investor concerns regarding the earnings miss and guidance. Earlier in the session, shares rebounded from a session low but remained significantly lower overall.

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