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Wednesday, September 10

Noteworthy macro moves today: Bitcoin +1.4%. Noteworthy US mega-cap moves today: Broadcom Inc (AVGO) +3.4%. NVIDIA Corp (NVDA) +3.2%. Microsoft Corp (MSFT) +1.7%. 

Recent economic data releases have significantly impacted market sentiment, particularly in the U.S. Producer prices unexpectedly fell by 0.1% month-over-month in August, contrasting with expectations of a rise and marking the first decline in four months. This drop was accompanied by a similar decrease in core producer prices, which also declined by 0.1%, suggesting potential easing inflation pressures that could influence Federal Reserve policy decisions.

In equity markets, major indices reached record highs on Tuesday as investors reacted positively to revised job figures indicating a cooling labor market; this has bolstered confidence for an anticipated interest rate cut from the Fed at its upcoming meeting on September 17th. The Dow Jones Industrial Average rose approximately 196 points while both S&P 500 and Nasdaq Composite closed higher amid optimism surrounding tech stocks driven largely by AI advancements.

Additionally, geopolitical tensions are influencing oil prices following recent events involving Israel's military actions against Qatar and ongoing sanctions discussions related to Russia’s energy exports. These factors contributed to rising crude oil values alongside broader positive movements across Asian stock markets influenced by Wall Street gains earlier this week.

Bitcoin (BTC/USD) [+1.4%]
Bitcoin's trading volume increased significantly in the last day, reflecting a surge of 16%. The cryptocurrency fluctuated around 110,000 after briefly exceeding 113,000 earlier today. Concurrently, a downward revision to U.S. nonfarm employment gains has heightened expectations for potential Federal Reserve rate cuts next week. Social media highlights include GameStop's announcement of a narrowed Q2 loss, alongside its acquisition of 4,710 BTC for 500 million, totaling 528 million in Bitcoin on its balance sheet. Additionally, ETF flows indicate an inflow of 205 BTC, valued at approximately 23 million. Recent posts also noted that BlackRock purchased 169.3 million worth of BTC and that demand from BTC accumulator addresses has reached an all-time high, with over 266,000 BTC accumulated, signaling strong long-term holder behavior amid corporate treasury adoption.

Vanguard Information Technology ETF (VGT) [+1.5%]
The Vanguard Information Technology ETF (VGT) has experienced a daily return of approximately 0.95%, reflecting the broader U.S. stock market's record highs, driven by optimism regarding potential Federal Reserve interest rate cuts. This sentiment follows weaker-than-expected jobs data and a surprising decline in producer prices for August, with the Producer Price Index (PPI) unexpectedly falling. Significant contributors to VGT's performance include NVIDIA, Oracle, Microsoft, Advanced Micro Devices, and Broadcom, all benefiting from positive developments in cloud services and semiconductor demand. Oracle reported strong growth in cloud revenue despite missing earnings estimates, while Microsoft received a new buy rating amid favorable market conditions. The recent decline in PPI and Core PPI has historically resulted in heightened volatility for VGT, underscoring its sensitivity to inflation data.

ORCL | +32.0% | +280.3B
Oracle Corp | Systems Software
Oracle Corp reported its first-quarter results, revealing adjusted earnings per share of $1.47, slightly below the consensus estimate of $1.48. Revenue for the quarter reached $14.93 billion, also falling short of the forecasted $15.03 billion. Notably, cloud revenue grew by 28% year-over-year to $7.2 billion. The company signed four multi-billion-dollar contracts in Q1, resulting in a remarkable 359% increase in remaining performance obligations (RPO), now totaling $455 billion. For fiscal year 2026, Oracle anticipates cloud infrastructure revenue to grow 77% to $18 billion and expects to onboard additional multi-billion-dollar customers soon. Following these announcements, Oracle's stock surged significantly, adding approximately $150 billion to its market capitalization, with analysts raising price targets across various firms. Larry Ellison's wealth increased by $75 billion, positioning him closely behind Elon Musk in net worth.

CHWY | -9.4% | -1.6B
Chewy Inc | Other Specialty Retail
Chewy Inc. reported its second-quarter financial results, revealing an adjusted EPS of 0.33, in line with analyst expectations, and revenue of 3.1 billion, slightly exceeding consensus estimates. The company's net income for the quarter was 62 million, with a basic EPS of 0.15, reflecting a year-over-year decline. Chewy raised its full-year sales guidance to between 12.5 billion and 12.6 billion, while projecting an adjusted EBITDA margin of 5.4% to 5.7%. Following the earnings release, Chewy's stock experienced a premarket drop of over 5%. Social media discussions highlighted the company's earnings performance, noting an 8.6% year-over-year increase in net sales, although basic EPS fell by 0.55 compared to the previous year. The gross margin improved to 30.4%, up by 90 basis points. The company also set Q3 FY2025 EPS guidance at 0.28-0.33 and revenue guidance at 3.1 billion.

SNPS | -24.3% | -17.0B
Synopsys Inc | Application Software
Synopsys Inc reported disappointing third-quarter results on September 9, 2025, with revenue of $1.74 billion, missing the estimated $1.77 billion. The adjusted earnings per share (EPS) was $3.39, below the consensus estimate of $3.75. The company also lowered its guidance for the fourth quarter, projecting non-GAAP EPS between $2.76 and $2.80, significantly under the consensus of $4.14. Additionally, Synopsys announced a strategic decision to reduce global headcount by 10% by the end of fiscal year 2026. Following these announcements, several analysts downgraded their price targets, some as low as $525 from previous estimates. The stock experienced a notable decline of approximately 10.5% in after-hours trading, reflecting concerns about its performance and challenges ahead, including issues related to its business in China.

NIO | -8.2% | -986.7M
NIO Inc | Automobile Manufacturers
NIO Inc. has proposed an equity offering of up to 181.8 million Class A ordinary shares, which includes American depositary shares and direct ordinary share offerings. The underwriters have a 30-day option to purchase an additional 27.3 million ADSs. Proceeds from this offering are earmarked for research and development in smart electric vehicle technologies, the rollout of new vehicle platforms, and the expansion of battery-swapping and charging infrastructure. This announcement follows disappointing financial results, with revenue reported at 19.01 billion yuan, falling short of analyst expectations. In premarket trading, NIO shares have dropped significantly, reflecting a decline of approximately 9.87%. Concurrently, social media highlights include a request for a trading halt and a buy rating from Everbright Securities, while discussions also focus on the new ES8 model, which has begun nationwide test drives ahead of its launch on September 20th.

AMD | +4.1% | +10.7B
Advanced Micro Devices Inc | Semiconductors
Advanced Micro Devices shares are trading higher following Oracle's recent Q1 financial results, which highlighted increasing demand for its Cloud Infrastructure. This uptick coincides with a significant stock pullback attributed to concerns over weaker-than-expected demand for AMD's AI chips. Analysts have noted signs of slowing demand, leading to a downgrade from buy to hold by Seaport Global. Nonetheless, some analysts believe the recent price decline may be an overreaction, presenting a potential buying opportunity. Discussions on social media have emphasized AMD's advancements in AI technology and its partnership with Oracle, which is expected to boost demand for AMD's products. Additionally, Oracle's CEO mentioned significant AI spending and potential multibillion-dollar contracts that could positively impact AMD. Overall, there is optimism regarding AMD's future performance despite recent challenges, particularly with anticipated growth in AI-related markets.

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