01 Stock Market
As of Jul 1, U.S. stock index futures performed as follows: Dow Jones Industrial Average futures fell 0.32%, S&P 500 futures slipped 0.24%, and Nasdaq-100 futures retreated 0.54%. The pull-back reflects a cautious tone after last week’s rally, with investors weighing fresh corporate results and geopolitical developments ahead of the holiday-shortened trading week.
Notable Stock Movers: MSFT up 1.79% at $379.68, underpinned by continued enthusiasm for its cloud-based AI initiatives. Clean-energy player BE up 7.78% at $326.26 after a major financing boost for data-center projects. Enterprise software giant ORCL up 1.60% at $148.90. Chip leader NVDA down 0.63% at $198.82, while electric-vehicle bellwether TSLA down 0.48% at $418.60. Memory specialist MU down 2.99% at $1119.75 as semiconductor shares consolidate recent gains.
Overall, pre-market action signals a stock-picker’s session. Software and renewable-energy names are attracting buying interest on positive contract news, whereas several chip and mega-cap growth stocks face modest profit-taking. With June quarter deliveries flowing from U.S.-listed Chinese EV makers and a fresh round of earnings surprises, traders appear poised to rotate toward catalysts while monitoring holiday-week liquidity and global headlines.
02 Other Markets
• 10-year U.S. Treasury yield rose 1.43%, to 4.49%.
• U.S. Dollar Index rose 0.25% to 101.41.
• WTI crude oil futures fell 0.50% to 69.15 USD/barrel; COMEX gold futures rose 0.15% to 4044.40 USD/ounce.
03 Key News
1. General Mills topped consensus forecasts for profit and revenue, lifting its shares in pre-market trading. The packaged-foods giant reported adjusted earnings of 95 cents per share on sales of $4.61 billion, exceeding analyst expectations as budget-minded consumers gravitated toward at-home meals. Management highlighted resilient demand for core cereal and snack brands amid elevated grocery inflation.
2. Nike projected lower first-half revenue, sending the stock lower despite a headline earnings beat. Tariff refunds padded quarterly profit, but the sportswear company cautioned that consumer spending headwinds will likely drive low-to-mid single-digit sales declines in coming quarters. Investors are watching for margin trends as inventories normalise and promotional activity rises.
3. Brookfield Asset Management expanded its financing commitment for AI-driven data-center power projects to $25 billion. The enlarged framework is designed to accelerate the rollout of high-efficiency energy solutions, and it boosted sentiment toward partner Bloom Energy, which focuses on solid-oxide fuel-cell technology for data-center customers.
4. NASA awarded Intuitive Machines a lunar-lander contract worth up to $148.3 million. The agreement covers delivery of the Nova-C lander to the Moon no later than 2028, reinforcing the agency’s commercial-services model for Artemis-related missions. The win strengthens Intuitive Machines’ pipeline and showcases continued government support for U.S. private-sector space exploration.
5. XPeng reported 40,126 vehicle deliveries for June, bringing second-quarter shipments to 103,295 units. Management said the company will unveil its new MONA L03 model in China this week, with global launches planned later in the month. The figures signal solid execution as XPeng ramps new products amid fierce electric-vehicle competition.
6. NIO’s June deliveries surged 62.9% year on year to 40,597 units, pushing quarterly volume to 107,658 vehicles. Growth was broad-based across the NIO, ONVO and FIREFLY brands, lifting cumulative deliveries past 1.18 million. The performance supports expectations for improving scale benefits and operating efficiency in the second half.
7. Li Auto delivered 30,895 vehicles in June and confirmed plans to launch its new L6 model next month. Cumulative deliveries have surpassed 1.7 million units, and production of the i6 crossover has topped 150,000 vehicles. The steady expansion highlights robust domestic demand for range-extended EVs despite intensifying price competition.
8. Tesla confirmed the first production Cybercab autonomous vehicle has begun engineering tests in Austin. The milestone advances Tesla’s robotaxi strategy, with real-world testing set to inform regulatory engagement and commercialization timelines. Investors view progress on fully autonomous platforms as critical to the company’s long-term margin and growth profile.
9. TSMC, Samsung and SK Hynix have sharply increased purchases of electronic-grade hydrofluoric acid amid rising raw-material costs. Suppliers indicate price hikes of roughly 20–30% this year as Middle East tensions elevate input prices for sulfur-based chemicals. The scramble underscores ongoing supply-chain challenges facing leading chip manufacturers.
10. U.S. and Iranian representatives began indirect technical discussions in Doha, facilitated by Qatar and Pakistan. While senior envoys set the framework, mediators are steering talks aimed at easing regional tensions. Energy markets and defense-related equities are monitoring the dialogue for signs of progress that could influence oil supply and geopolitical risk premia.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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