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

Monday, November 02

Noteworthy macro moves today: EUR/USD +0.6%. Oil (WTI) -5.1%. US Dollar Index -0.3%. Noteworthy US mega-cap moves today: SK Hynix Inc (SKHY) +4.4%. Space Exploration Technologies Corp (SPCX) +2.4%. Palantir Technologies Inc. (PLTR) +2.1%.

Global equity markets are trading mixed, with U.S. indices higher while Asian markets show weakness. U.S. stock futures indicated a potential recovery following a significant selloff in October, particularly in technology stocks, as investors look ahead to upcoming earnings reports from major companies like Apple and Advanced Micro Devices.

In the Eurozone, the S&P Global Manufacturing PMI Final was released today, showing a slight decline to 52.7 for October, above expectations of 52.4 but down from September's four-year high of 52.9, indicating continued expansion in manufacturing despite slowing output growth.

Germany's retail sales data released today showed a sharp decline of -2% month-over-month and -2.3% year-over-year for September, significantly worse than forecasts and raising concerns about consumer spending amid economic challenges.

Additionally, Italy's S&P Global Manufacturing PMI fell to 49.4 in October from 50.4 in September, marking a return to contraction as new orders continued to decline amid geopolitical uncertainties affecting demand.

iShares MSCI South Korea ETF (EWY) [+3.6%]
The iShares MSCI South Korea ETF is gaining in pre-market trading, supported by strong performances from key holdings SKHY and KEP. Despite broader market volatility and a significant decline in the South Korean KOSPI index due to geopolitical tensions in the Middle East and rising oil prices, EWY is advancing. The fund has seen a robust start to the trading week, with earlier gains peaking before a slight pullback, while still remaining below its 20-day moving average and near the lower end of its one-month range.

United States Oil Fund LP (USO) [-3.4%]
The United States Oil Fund LP is experiencing a decline in pre-market trading, reflecting broader weakness in crude oil prices. WTI crude fell, while Brent crude dropped. This downturn comes amid hopes for diplomatic progress between Iranian and Qatari officials, which could alleviate supply disruptions linked to ongoing geopolitical tensions. Additionally, concerns about a significant security breach at Binance have raised issues regarding cryptocurrency market stability, potentially impacting energy markets. Social media posts indicate some users are discussing the potential for a price breakout in USO, with mixed sentiments about its future performance.

Global X Copper Miners ETF (COPX) [+2.0%]
Hudbay Minerals Inc. announced a significant investment in Pecoy Copper Corp., while Freeport-McMoRan Inc. reported increased operating income due to higher copper sales, driving strong gains among the fund's holdings, including Teck Resources Ltd., Hudbay, and Freeport. Global X Copper Miners ETF is advancing in pre-market hours. Additionally, record-high copper import demand from Chinese buyers is leading to a surge in the Yangshan premium at Shanghai's major copper port.

MAR | +4.0% | +4.4B
Marriott International, Inc. | Consumer Discretionary
Marriott International reported strong third-quarter earnings, with net income rising to $794 million, or $3.04 per share, compared to $728 million, or $2.67 per share, in the same period last year. Adjusted earnings also exceeded expectations at $3.02 per share, surpassing the consensus estimate of $2.84. The company announced a significant buyback of 3.5 million shares for $1.3 billion during the quarter and raised its full-year global revenue per available room (RevPAR) forecast to 4.5% to 5%, up from a previous range of 3% to 3.5%. This positive outlook reflects strong demand in the U.S. and a 6.5% increase in global RevPAR for the third quarter. Following the earnings report and guidance, shares are advancing in pre-market trading.

IDXX | +7.2% | +3.3B
IDEXX Laboratories, Inc. | Health Care
IDEXX Laboratories, Inc. reported third-quarter results today, revealing a 10% increase in revenue to $1.214 billion, exceeding analyst expectations of $1.191 billion. The earnings per share (EPS) for the quarter was $4.01, surpassing the consensus estimate of $3.71 and reflecting an 18% year-over-year growth. The company also raised its full-year EPS guidance to a range of $14.96 to $15.16, up from previous guidance, and increased revenue projections to between $4.741 billion and $4.767 billion, indicating strong performance in its Companion Animal Group diagnostics segment. Following these developments, shares are trading sharply higher during pre-market hours.

ECHO | +4.3% | +1.2B
EchoStar Corporation | Communication Services
EchoStar Corporation's shares are advancing in pre-market trading following reports that SpaceX is in discussions to acquire Boost Mobile or utilize its network. The Washington Post detailed that these talks involve the potential for SpaceX to launch its own branded wireless service, with Elon Musk reportedly meeting with EchoStar's Chairman, Charlie Ergen, last month. This initiative aligns with SpaceX's goal of establishing a hybrid satellite-terrestrial mobile network through Starlink Mobile, aimed at competing with major U.S. carriers. The news has generated significant investor interest, contributing to the stock's sharp rise during pre-market hours.

FOX | +4.5% | +1.1B
Fox Corporation | Communication Services
Fox Corporation reported strong financial results for the first quarter of fiscal 2027, with revenue of $4.57 billion, a 22% increase year-over-year, and net income rising to $957 million from $609 million. Adjusted earnings per share were $2.54, exceeding analyst expectations by $0.48, driven by a 47% rise in advertising revenue linked to the FIFA Men's World Cup and increased political ad spending. Additionally, distribution revenue grew by 9%, reflecting robust performance across its segments. Following the earnings announcement, shares are trading sharply higher in pre-market hours. Users on X discussed the earnings report, noting the strong metrics and attributing the performance to growth in advertising and distribution revenues.

XPEV | +5.0% | +0.9B
Xpeng Inc | Consumer Discretionary
Xpeng Inc. reported record vehicle deliveries of 50.24k units in October 2026, representing a 20% year-over-year increase and a 22% rise from the previous month. Overseas deliveries reached an all-time high of 13.33k units, a remarkable 166% increase compared to the same month last year. This strong performance coincides with the launch of the new L05 model, which began deliveries on November 1. Additionally, Xpeng received a demonstration operation license for Level 4 autonomous robotaxi services in Guangzhou on October 26 and secured MSCI's highest AAA environmental, social, and governance rating for the fourth consecutive year. In pre-market hours, shares of Xpeng are trading sharply higher since Friday's close.

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