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

Thursday, August 20

Noteworthy macro moves today: Bitcoin +3.6%. US 10Y Treasury Bond Index -0.3%. Oil (WTI) +3.8%. Noteworthy US mega-cap moves today: Walmart Inc (WMT) -7.2%. Space Exploration Technologies Corp. Class A Common Stock (SPCX) -2.8%. Exxon Mobil Corp (XOM) +2.0%.

Global equity indices are trading mixed today, with Asian markets generally higher while U.S. and European indices are lower. The Nikkei 225 and Hang Seng indices have shown notable gains, buoyed by positive sentiment from easing U.S. Treasury yields following the announcement of increased buyback operations by the U.S. Treasury Department aimed at stabilizing long-term debt markets.

In the U.S., initial jobless claims fell to 206k for the week ending August 15, below expectations of 210k, indicating continued resilience in the labor market despite recent payroll contractions. Continuing claims rose to 1.799m, reflecting ongoing challenges but still suggesting a relatively stable employment environment.

The Philadelphia Fed Manufacturing Index was also released today; however, its impact on market sentiment remains to be seen as it is yet to be published at this time. Meanwhile, geopolitical tensions continue to weigh on investor sentiment as oil prices surged over concerns related to Iran and supply disruptions in the Middle East.

In Europe, Germany's Producer Price Index (PPI) rose by 3% year-on-year in July, significantly exceeding forecasts and indicating persistent inflationary pressures that may influence future monetary policy decisions from central banks across the region.

United States Oil Fund LP (USO) [+3.5%]
Saudi Aramco has reportedly sold at least 4 million barrels of crude oil loading outside Hormuz to China, a transaction that may signal a shift in oil supply dynamics amid ongoing geopolitical tensions. Additionally, Qatar's mediation efforts between the U.S. and Iran could further influence market sentiment regarding oil prices. These developments are particularly relevant as they coincide with a notable rise in United States Oil Fund LP during pre-market hours, reflecting strong momentum following five consecutive higher daily closes since Wednesday's close.

VanEck Gold Miners ETF (GDX) [-2.6%]
Geopolitical tensions have escalated following U.S. President Donald Trump's announcement of an "economic operation" against Iran, warning of repercussions for nations supporting Tehran. This situation has contributed to rising crude oil prices, which may negatively impact gold mining equities like VanEck Gold Miners ETF as higher energy costs affect operational expenses. Additionally, ongoing inflation concerns are highlighted by recent U.S. Treasury actions aimed at stabilizing long-term yields, further influencing market dynamics for precious metals. In pre-market trading, GDX is declining, reflecting a drop of 2.62% since Wednesday's close. The ETF's performance is also impacted by its top holdings, with significant losses reported by several key contributors.

iShares U.S. Home Construction ETF (ITB) [-1.7%]
Initial jobless claims in the U.S. fell unexpectedly to 206,000 for the week ending August 15th, indicating resilience in the labor market despite prior payroll contractions. However, the iShares U.S. Home Construction ETF is trading lower during pre-market hours, influenced by significant declines among its top holdings, including D.R. Horton, Lennar, Lowe's, Home Depot, and Sherwin-Williams, which all contributed negatively to the ETF's performance. Additionally, broader market sentiment is reflected in the decline of the iShares iBoxx $ High Yield Corporate Bond ETF, which moved down slightly. The geopolitical tensions surrounding new sanctions on Iran and rising crude oil prices may also affect construction material costs relevant to the ETF's focus. Overall, ITB is experiencing a steady decline ahead of the market open.

BABA | -5.6% | -131.2B
Alibaba Group Holding Ltd | Consumer Discretionary
Alibaba Group Holding Ltd reported disappointing first-quarter results, with adjusted EBITDA declining to RMB 39.143 billion from RMB 45.735 billion a year earlier. While revenue increased by 9% year-over-year to RMB 268.953 billion, it slightly surpassed expectations. However, earnings per share fell sharply to RMB 0.46, significantly missing estimates of RMB 10.72. This weak performance is attributed to aggressive spending on AI infrastructure, impacting profitability. As a result, shares are declining in pre-market trading, reflecting a negative market reaction to the earnings announcement. Despite some positive aspects in the cloud segment, analysts noted ongoing cost pressures due to increased AI-related expenditures.

WMT | -6.1% | -53.0B
Walmart Inc | Consumer Staples
Walmart Inc reported second-quarter results that surpassed analyst expectations, with adjusted earnings per share of $0.81 and revenue of $187.9 billion. However, the stock is under pressure following cautious guidance for the third quarter, projecting adjusted EPS between $0.62 and $0.64, below the expected $0.68. U.S. comparable sales growth was only 2.6%, significantly lower than prior periods and the slowest growth in over six years, raising concerns about consumer spending amid rising gas prices. Despite raising its full-year adjusted EPS guidance to $2.80-$2.87, the mixed results have led to a notable decline in the stock price during pre-market trading today, with shares sharply lower since Wednesday's close.

FUTU | +9.0% | +11.9B
Futu Holdings Ltd | Financials
Futu Holdings Ltd reported strong second-quarter results, with total revenues increasing by 35.6% to HK$7.2 billion (approximately $918.2 million) and net income rising by 41.6% to HK$3.641 billion (about $464.4 million). The company's non-GAAP adjusted net income grew by 40.1% year-over-year to HK$3.725 billion (around $475.0 million), exceeding the estimated revenue of HK$6.35 billion. Additionally, earnings per share were reported at HK$26.08, above the estimate of HK$24.01. Funded accounts grew to 3.84 million, up 33.6% from the previous year, while client assets totaled HK$1.4 trillion, reflecting a 43.6% year-over-year increase. Following this robust performance, shares of Futu Holdings are trading sharply higher in pre-market hours.

MRNA | -8.3% | -5.1B
Moderna Inc | Health Care
Moderna shares are experiencing a significant pullback during pre-market hours following a remarkable 177% surge on Wednesday, driven by positive data regarding its personalized cancer vaccine, intismeran. Investors appear to be taking profits, leading to a decline of over 10%. Bank of America upgraded Moderna to Neutral with a price objective of $170, describing the data as a "watershed moment" for the company. However, concerns about the efficacy of the intismeran-Keytruda combination compared to Keytruda alone may temper investor enthusiasm. Earlier in the session, shares reached a low of approximately -13% from Wednesday's close before partially recovering.

COIN | +5.5% | +2.3B
Coinbase Global Inc | Financials
Coinbase Global Inc is benefiting from a significant surge in the cryptocurrency market, driven by a record $2.7 billion in bearish crypto bets being liquidated within 24 hours. This unprecedented short squeeze has lifted Bitcoin to its highest levels since early June, positively impacting Coinbase, which relies on Bitcoin's price fluctuations and trading volumes for revenue. Additionally, President Trump's call for Congress to advance the Clarity Act has bolstered investor sentiment in the crypto sector. As a result, Coinbase's pre-market trading activity has seen notable gains. Earlier in the session, however, the stock pulled back from a session high.

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