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

Thursday, July 02

Noteworthy macro moves today: US Dollar Index -0.8%. USD/JPY -1.1%. EUR/USD +0.7%. Noteworthy US mega-cap moves today: Meta Platforms Inc (META) -1.4%. Space Exploration Technologies Corp. Class A Common Stock (SPCX) +1.3%. Alphabet Inc (GOOG) -1.2%.

Global equity indices are trading mixed, with U.S. and European markets higher while Asian markets show declines, particularly in Japan and China due to concerns over semiconductor stocks. The Nikkei 225 fell sharply by over 2% as fears of excess capacity in the tech sector intensified following reports about Meta Platforms' cloud business plans, which negatively impacted chipmakers like SK Hynix and Samsung.

In the U.S., key economic data released today showed that the unemployment rate dropped to 4.2% in June from 4.3% in May, below expectations, as many people left the workforce. Additionally, non-farm payrolls added only 57k jobs in June, significantly lower than forecasts of around 110k and marking the lowest job gain in four months.

Average hourly earnings remained steady at a growth rate of 0.3%, matching market expectations and indicating stable wage growth amid a contracting labor force participation rate of 61.5%. This mixed employment data is likely to influence Federal Reserve policy discussions regarding interest rates as they assess economic strength against inflation risks.

The U.S. Dollar Index is down by approximately 0.8%, reflecting a stronger euro which gained about 0.7% against the dollar amid easing inflation concerns in Europe following stable unemployment rates reported at 6.2%. Meanwhile, Treasury yields have been affected by these developments as investors adjust their expectations ahead of upcoming economic indicators.

VanEck Gold Miners ETF (GDX) [+4.3%]
Gold prices have risen towards $4,100 an ounce, bolstered by easing inflation fears following remarks from Fed Chair Kevin Warsh and ECB President Christine Lagarde regarding reduced price risks. UBS has also highlighted an improving risk-reward environment for gold mining stocks after a significant correction driven by geopolitical tensions. These factors are contributing to the VanEck Gold Miners ETF's advance in pre-market trading. Notably, key holdings such as Newmont Corporation and Wheaton Precious Metals have made positive contributions to the ETF's performance, with returns of 3.97% and 2.9%, respectively. Additionally, gold's own increase of 2.66% is likely supporting GDX's upward movement, reflecting the strong historical correlation between the two assets.

SPDR Gold Shares (GLD) [+2.4%]
The release of June's Nonfarm Payrolls data, which showed a significant miss at 57,000 compared to the expected 113,000, has likely increased demand for gold as a safe haven asset. This development appears to be driving the price movement for SPDR Gold Shares. Despite a recent UBS report lowering its year-end gold forecast to $5,000 per ounce due to anticipated higher interest rates, the immediate market reaction remains influenced by the disappointing employment figures. In pre-market hours, SPDR Gold Shares are trading higher since Wednesday's close, reflecting this shift in market sentiment.

iShares MSCI Brazil ETF (EWZ) [+2.3%]
The iShares MSCI Brazil ETF is experiencing a notable pre-market rally, gaining momentum ahead of the regular trading session. This upward movement is attributed to the recent U.S. labor market data, which indicated a slowdown with nonfarm payrolls increasing by only 57,000 in June, below expectations. This development has led to adjustments in Federal Reserve interest rate hike expectations, potentially enhancing the attractiveness of emerging markets like Brazil. Additionally, significant contributions to the ETF's performance have come from major holdings such as VALE, ITUB, and PBR.A. The overall market sentiment is further supported by Saudi Arabia's increase in crude oil exports, which may stabilize or reduce global oil prices, positively impacting Brazil's economic outlook.

DB | +6.3% | +4.5B
Deutsche Bank AG | Financials
Deutsche Bank AG announced a collective bargaining agreement with trade unions for Postbank staff, which has contributed to a positive market response. The agreement, effective from July 2026, includes a monthly salary increase of €175 and an additional 2.9% raise starting in July 2027, spanning 28 months. This development reflects improved labor relations and potential operational stability within the bank's subsidiary. In pre-market hours, Deutsche Bank shares are trading sharply higher since Wednesday's close, indicating strong recovery and positioning near the upper end of its one-month range.

SFTBY | +8.0% | +2.2B
SoftBank Group Corp | Communication Services
SoftBank Group Corp's stock is advancing sharply following the announcement of its plans to launch AI cloud services in the U.S. This strategic move aims to leverage increasing demand in the AI sector. Additionally, reports indicate that SoftBank is negotiating a $10 billion margin loan backed by its stake in OpenAI, with participation expected from major banks such as Goldman Sachs and JPMorgan Chase. These developments underscore SoftBank's commitment to enhancing its financial positioning and expanding its presence in the growing AI market. The stock has shown a notable increase in pre-market hours, marking a significant shift in momentum after a recent trend of lower daily closes.

BAYRY | +7.2% | +1.1B
Bayer AG | Health Care
Bayer AG's stock is advancing sharply following the announcement of a collaboration between its One A Day® multivitamin brand and country artist Luke Bryan. This partnership, which celebrates America's 250th birthday, will feature limited-edition multivitamin bottles available exclusively at Walmart from July through September. The promotional campaign aims to enhance Bayer's brand visibility and consumer engagement in the health and wellness sector. Additionally, Bayer's consolidation of its U.S. glyphosate business into a new entity named Ruveon is part of its strategy to optimize operations within the agricultural market, reinforcing its commitment to innovation and customer service.

RIVN | +4.5% | +0.8B
Rivian Automotive Inc | Consumer Discretionary
Rivian Automotive reported strong production and delivery figures for Q2 2026, producing 12,613 vehicles and delivering 12,194, surpassing its prior guidance of 9,000 to 11,000. This robust performance has prompted the company to raise its full-year delivery outlook from 62,000-67,000 vehicles to 65,000-70,000. The announcement has led to a significant rise in shares during pre-market trading, reflecting increased demand for both the Electric Delivery Van and R1 models, as well as the introduction of R2 deliveries.

HCM | +7.0% | +0.7B
HUTCHMED (China) Ltd | Health Care
HUTCHMED (China) Ltd gained sharply in pre-market trading following the announcement of conditional approval from the Chinese National Medical Products Administration (NMPA) for its drug ORPATHYS (savolitinib) to treat gastric cancer patients with MET amplification. This approval is significant due to the high incidence of gastric cancer in China, with approximately 18,000 new cases linked to MET amplification each year. The approval is supported by positive Phase 2 clinical trial data, which showed a 32.3% objective response rate among treated patients. This marks the third indication for ORPATHYS in China, having previously received approval for non-small cell lung cancer.

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