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

Wednesday, July 22

Noteworthy macro moves today: Nasdaq 100 Index (US) -0.8%. Oil (WTI) +2.6%. FTSE 100 Index (UK) +1.5%. Noteworthy US mega-cap moves today: Broadcom Inc (AVGO) -1.8%. Exxon Mobil Corp (XOM) +1.3%. Space Exploration Technologies Corp. Class A Common Stock (SPCX) +1.1%.

Global equity indices are trading mixed, with European markets higher while U.S. and Asian indices are generally lower. The Nasdaq 100 Index in the U.S. is down by 0.8%, reflecting ongoing concerns about rising inflation and geopolitical tensions, particularly related to the situation in the Middle East.

In economic news, the MBA 30-Year Mortgage Rate was reported at 6.69% for the week ending July 17, an increase from the previous week's rate of 6.65%. This rise in mortgage rates comes amid persistent inflation concerns and speculation about potential interest rate hikes by the Federal Reserve later this year, although mortgage applications showed signs of resilience with a rebound of 1.9%, particularly driven by a significant increase in purchase applications of 5.5%.

In the UK, annual inflation eased to 2.6% in June from May's figure of 2.8%, slightly below market expectations of a rise to 2.7%. This decline is attributed to moderating transport costs and could influence future monetary policy decisions as it reflects mixed signals regarding economic conditions amidst rising input prices.

Japan's trade balance data released yesterday showed a deficit of -406.9 billion yen for June, significantly worse than expected due to imports surging by 25.4% year-on-year while exports increased by only 19.3%. This widening deficit raises concerns about Japan's economic sustainability amid rising import costs driven largely by energy prices influenced by geopolitical tensions.

iShares MSCI South Korea ETF (EWY) [-3.5%]
Despite a sharp rebound in the South Korean stock market, the iShares MSCI South Korea ETF is experiencing a notable decline in pre-market hours. The KOSPI index gained over 3% due to bargain hunting among technology stocks and positive global earnings news, which typically would enhance sentiment towards EWY. However, EWY is currently down significantly, reflecting a daily return of -3.51%. This drop may be influenced by a broader decline in the S&P 500 Index, which has fallen by 0.32%, indicating a potential correlation with EWY's performance. The ETF's price remains near the lower end of its one-month range and below its 20-day moving average.

United States Oil Fund LP (USO) [+3.2%]
Global crude prices surged over 4% on Wednesday, with Brent crude reaching $95 per barrel, driven by ongoing tensions in the Middle East. U.S. Secretary of State Marco Rubio indicated that Washington remains open to negotiations regarding the Iran crisis but noted Tehran's lack of seriousness in talks. This sentiment contributed to rising oil prices, positively impacting United States Oil Fund LP, which advanced in pre-market trading. Jim Cramer emphasized the significant upward trend in oil prices amid stalled negotiations with Iran, highlighting the market's sensitivity to geopolitical developments. The asset is trading higher in pre-market hours, reflecting a notable increase since Tuesday's close.

VanEck Semiconductor ETF (SMH) [-2.2%]
Fear in the semiconductor sector has intensified, contributing to a decline in the VanEck Semiconductor ETF. The Cboe SMH Volatility Index indicates increased expected movement in semiconductor stocks, reflecting heightened trader anxiety. A significant sell-off has erased approximately $3.3 trillion from global chip stocks, with the PHLX Semiconductor Index dipping below the critical 12,000 level before a slight recovery, which lacks momentum. The ETF is trading lower in pre-market hours, with notable pressure stemming from geopolitical tensions and rising oil prices. Earlier in the session, the ETF experienced a brief uptick but has since fallen significantly, underscoring ongoing stress within the sector.

GEV | -5.7% | -16.1B
Ge Vernova Inc | Industrials
Second-quarter earnings for Ge Vernova Inc showed revenue of $11.1 billion, exceeding expectations of $10.73 billion, with a year-over-year increase of 22%. However, adjusted earnings per share came in at $2.47, falling short of the analyst consensus of $3.04. The company raised its full-year revenue guidance to between $45.5 billion and $46.5 billion, citing a backlog increase to $176 billion. Despite these positive indicators, shares are declining in pre-market trading due to challenges in the wind segment, where revenue decreased by 10% and EBITDA losses widened to $275 million from lower onshore volume and higher offshore project costs. Additionally, Ge Vernova faces significant cost impacts from global tariffs estimated between $100 million and $200 million for 2026.

TEL | -6.0% | -3.6B
TE Connectivity Ltd | Information Technology
TE Connectivity Ltd announced its agreement to acquire Astrodyne TDI for approximately $1.4 billion, a transaction expected to close by the end of the year. This acquisition aims to bolster TE's Industrial Solutions segment, potentially adding over $250 million in annual sales. The company also reported strong third-quarter results, with adjusted EPS of $2.94 and revenue of $5.16 billion, both exceeding estimates. Despite these positive developments, shares are trading sharply lower in pre-market hours, reflecting broader market sentiment or investor concerns regarding the acquisition's implications for future performance. Earlier in the session, shares fell as much as -8.17% from Tuesday's close before recovering slightly.

DSDVY | -14.8% | -3.3B
DSV A/S | Industrials
DSV A/S reported second-quarter adjusted earnings per share of $0.97, missing the $1.20 estimate, while sales reached $11.929 billion, exceeding expectations of $10.800 billion. The significant earnings miss is likely contributing to the stock's sharp decline in pre-market trading. Additionally, profit attributable to shareholders decreased to DKK 2.28 billion from DKK 2.33 billion year-over-year, despite some resilience attributed to the integration of Schenker. Analysts remain cautiously optimistic about the company's outlook, although operational challenges in the Road division have been noted.

RDDT | -6.0% | -2.0B
Reddit Inc | Communication Services
Reddit Inc's stock is declining in pre-market trading amid reports of the company reconsidering its relationship with Google. Shares fell significantly in the prior session, driven by concerns that Reddit may block Google from using its content for AI training. This decision is seen as a response to Google's AI-generated search results potentially cannibalizing traffic essential for Reddit's advertising revenue. The ongoing negotiations over a data-licensing agreement, valued at approximately $60 million annually, underscore growing tensions between digital publishers and search engines regarding content access. Earlier in the session, shares reached a notable low before recovering slightly, but the overall trend remains lower since Tuesday's close.

ARWR | +17.2% | +1.9B
Arrowhead Pharmaceuticals Inc | Health Care
Arrowhead Pharmaceuticals Inc reported significant topline results from its Phase 3 SHASTA-3 and SHASTA-4 studies of plozasiran, aimed at treating severe hypertriglyceridemia. The studies demonstrated median triglyceride reductions of 79% and 81%, respectively, compared to approximately 27% in the placebo group. Additionally, there was a statistically significant reduction in acute pancreatitis events, including a complete elimination of such events in high-risk patients. The safety profile remained consistent with prior findings, showing no new safety signals. Following this announcement, Arrowhead's stock has seen notable gains in pre-market hours, reflecting strong upward momentum. Discussions on social media indicate that the stock experienced a significant increase following the news. The company plans to file a supplemental new drug application with the U.S. FDA before the end of 2026, with detailed results set to be presented at the European Society of Cardiology Congress on August 30, 2026.

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