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

Monday, August 31

Noteworthy macro moves today: Oil (WTI) +3.9%. USD/CNH -0.2%. Noteworthy US mega-cap moves today: Chevron Corp (CVX) +2.3%. Exxonmobil Holdings Corp (XOM) +2.1%. Microsoft Corp (MSFT) -1.0%.

Global equity indices are trading generally flat, with U.S. stocks lower amid rising oil prices and geopolitical tensions following renewed U.S.-Iran conflict. Oil prices surged by approximately 3.9% as Brent crude climbed above $90 a barrel due to fears of supply disruptions in the Strait of Hormuz after U.S. military actions against Iran.

In the U.S., stock futures fell early Monday as investors reacted to Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole symposium, which have increased expectations for a September interest rate hike to about 60%. Warsh emphasized that inflation remains elevated and indicated that further tightening may be necessary if price pressures persist.

Germany's preliminary inflation rate for August was reported at 2.9%, slightly below expectations of 3.0%, driven by a surge in energy costs amid ongoing geopolitical tensions related to Iran, while core inflation remained stable at around 2.4%. This mixed data raises concerns about future monetary policy decisions within Europe as markets digest these developments.

Asian markets are mixed today; while Singapore's STI index is higher, both the A50 Index in China and Japan's Nikkei are lower due to the negative sentiment stemming from rising crude oil prices and heightened geopolitical risks affecting investor confidence.

United States Oil Fund LP (USO) [+3.6%]
Pre-market trading for United States Oil Fund LP has been positively influenced by escalating geopolitical tensions following U.S. military strikes against Iranian targets, which have contributed to a significant rise in WTI crude futures. Prices increased by 3.8% to $86.57, bolstered further by Iraq's oil exports reaching 2.369 million barrels per day in August. Despite a disappointing Chicago PMI reading of 47.1, which fell short of expectations, sentiment around oil-related assets remains strong, with USO gaining traction even as other risk assets declined. Earlier in the session, USO pulled back from a session high but continues to trade higher since Friday's close, reflecting robust market activity amidst the backdrop of heightened supply disruption fears.

State Street Energy Select Sector SPDR ETF (XLE) [+1.5%]
Brent crude oil prices surged nearly 3% to exceed $90 a barrel following recent U.S. military actions against Iran, reigniting inflation and interest-rate concerns globally. This escalation has raised fears of potential supply disruptions through the Strait of Hormuz, directly impacting energy markets. Consequently, the State Street Energy Select Sector SPDR ETF is trading higher in pre-market hours, supported by strong performances from its top holdings, including ExxonMobil and Chevron. These companies contributed notably to the ETF's advance, reflecting a broader positive sentiment in the energy sector amid rising oil prices. Federal Reserve Chair Kevin Warsh's hawkish remarks on inflation risks further suggest possible future rate hikes, which could influence market dynamics for energy assets like XLE.

iShares MSCI Brazil ETF (EWZ) [+1.2%]
Brent crude oil prices surged nearly 3% to exceed $90 a barrel due to escalating tensions between the U.S. and Iran, which could impact global inflation expectations. Additionally, hawkish remarks from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium have heightened market expectations for interest rate hikes in September and December. These factors may influence investor sentiment toward Brazilian equities, including iShares MSCI Brazil ETF. In pre-market trading, iShares MSCI Brazil ETF is advancing, supported by strong performances from key holdings such as Petrobras and Itau Unibanco, which contributed positively to the ETF's performance. The asset has shown notable activity, trading higher compared to Friday's close, reflecting a robust move amid the broader market backdrop.

CVX | +2.3% | +9.6B
Chevron Corp | Energy
Chevron Corp is set to benefit from a new oil deal with Venezuela, announced by President Donald Trump, which aims to increase crude output to 1.5 million barrels per day over 25 years. This agreement, potentially generating $209 billion in revenue, is expected to significantly enhance Chevron's operations in the region. Analysts from Morgan Stanley and TD Cowen have raised their price targets for Chevron to $218 and $205, respectively, amid elevated oil prices, with Brent crude recently trading at approximately $90.27 per barrel. In pre-market trading, Chevron shares are gaining, reflecting positive sentiment around the stock, bolstered by discussions of expansion in Venezuela and bullish options trading activity.

DE | +2.3% | +4.0B
Deere & Co | Industrials
Baird upgraded Deere & Co to Outperform and raised its price target to $800, reflecting positive analyst sentiment that may be driving the stock's upward movement. The report highlighted Deere's strong positioning due to significant exposure to North American row crop equipment demand. It noted potential recovery in production and precision agriculture, with anticipated earnings per share nearing $25 in 2027 and mid-$30s in 2028 as the cyclical recovery progresses. This upgrade aligns with social media discussions reinforcing positive sentiment around the stock's performance in the agricultural equipment sector. In pre-market hours, shares of Deere & Co are trading higher, reflecting strong upward momentum as they approach the upper end of their one-month trading range.

MNSO | -7.9% | -0.9B
MINISO Group Holding Ltd | Consumer Discretionary
Citi analyst Lydia Ling initiated coverage on MINISO Group Holding Ltd with a Neutral rating and a price target of $11.30, which follows a downgrade from Buy to Hold by HSBC, setting a price target of $10.80. These analyst actions have contributed to negative sentiment surrounding the stock, leading to a decline in pre-market trading. MINISO's recent Q2 2026 earnings report showed revenue growth to RMB 5.81 billion but also revealed a net loss of RMB 289.2 million, a significant shift from the previous year's profit of RMB 489.7 million. This financial performance has raised concerns regarding the company's compressed net profit margin, which fell to 5.4% from 12.6% year-over-year. As a result, shares are trading sharply lower since Friday's close amid ongoing selling pressure.

HAL | +2.7% | +0.8B
Halliburton Co | Energy
Halliburton Co is reportedly nearing multi-billion-dollar deals aimed at enhancing Venezuelan oil production, aligning with U.S. efforts to increase influence over the region's energy assets amid rising global crude prices. This strategic move comes as major companies like Chevron expand their operations in Venezuela, potentially positioning Halliburton to capitalize on evolving market dynamics. In pre-market trading, Halliburton shares are advancing, reflecting positive investor sentiment, despite a slight pullback from earlier gains. The broader context includes a notable increase in oil prices, with West Texas Intermediate crude rising approximately 3.9%, driven by concerns over supply disruptions following recent U.S. military actions in the region.

PINS | -2.8% | -0.4B
Pinterest Inc | Communication Services
Pinterest Inc is experiencing downward pressure in pre-market trading following the resignation of its CEO, reported late Friday. The company also announced that CFO Julia Brau Donnelly will depart, effective October 30, 2026, further raising concerns about leadership stability. This news has contributed to a notable decline in the stock, with investor sentiment appearing negatively affected. Additionally, analysts at Zacks Research have revised their Q3 EPS estimates for Pinterest down to $0.08 from $0.14, adding to the overall uncertainty surrounding the company's future leadership and performance.

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