01 Stock Market
As of Oct 28, U.S. stock index futures performed as follows: E-mini Dow Jones futures fell 0.25% to 52449.00, E-mini S&P 500 futures rose 0.12% to 7767.25, and E-mini Nasdaq 100 futures rose 0.37% to 29921.50. The setup points to a mildly mixed open, with strength concentrated in growth and technology shares while the Dow futures lagged slightly. Earlier price action in the major cash indices also showed a firmer tone for the Nasdaq and S&P 500, suggesting continued support for large-cap technology and AI-related names.
Notable Stock Movers: Vertiv surged 15.31% at $240.50, SK hynix rose 7.49% at $156.25, Micron Technology climbed 3.79% at $964.00, SanDisk Corp. advanced 4.53% at $1364.00, and AMD gained 1.56% at $569.00. Intel added 1.74% at $95.37, Broadcom rose 1.66% at $348.00, and Alphabet moved up 1.23% at $324.53 on renewed interest in AI spending and chip demand. On the downside, Boston Scientific fell 6% in premarket trading after cutting guidance, New Oriental Education & Technology fell 12.04% at $51.01, and Seagate Technology declined 2.08% at $653.95. Apple slipped 0.47% at $345.48, while Stellantis was up around 4% after its latest operating-income update.
Broadly, premarket trading remained led by semiconductors, AI infrastructure, and adjacent hardware names. NVIDIA gained 0.76% at $219.60, Marvell Technology rose 1.61% at $247.50, and Lam Research added 1.85% at $245.31, reinforcing the bid for chip-equipment and memory beneficiaries. Hesai Group jumped 5.92% at $14.14, Qifu Technology rose 3.70% at $5.89, GE Vernova advanced 3.14% at $61.44, and Vertiv outperformed sharply after raising guidance. Elsewhere, Etsy climbed 4.4% after reporting stronger-than-expected quarterly results, and Deutsche Bank added 3.5% in premarket activity after topping profit forecasts.
02 Other Markets
• The 10-year U.S. Treasury yield rose 0.57%, to 5.02%.
• The U.S. Dollar Index fell 0.0098% to 102.34.
• WTI crude oil futures rose 1.92% to 101.82 USD/barrel; COMEX gold futures fell 0.40% to 4058.50 USD/ounce.
03 Key News
1. Vertiv raised its full-year outlook after reporting sharply higher quarterly sales and profit. The company said revenue rose 61% year over year and adjusted earnings per share increased 78%, both ahead of expectations. Vertiv also lifted its 2026 net sales guidance and said strong organic growth and improved operating leverage supported margin expansion.
2. SK hynix reported record earnings and said supply shortages in advanced memory chips could last for years. The company said quarterly profit more than tripled and revenue more than quadrupled, while operating margin reached a record level. It also highlighted persistent demand from AI infrastructure and long lead times for new production capacity.
3. GE Vernova agreed to buy Trench Group and raised its revenue forecast again. The company said the $9 billion acquisition would expand its grid-equipment manufacturing footprint and strengthen its position in high-voltage transmission. It also lifted its full-year revenue guidance for the third straight time as utilities increase grid spending.
4. Biogen beat quarterly expectations on stronger demand for rare-disease and Alzheimer’s drugs. Sales of Syfovre and Empaveli rose sharply, helping offset pressure in multiple sclerosis treatments. The company said recent approvals for a more convenient Leqembi formulation could help drive patient uptake.
5. Boston Scientific cut its outlook again after cyberattack-related disruptions and a weaker operating backdrop. The company said it now expects slower annual sales growth and lower adjusted earnings per share than previously forecast. Management also warned that fourth-quarter sales could decline, underscoring the lingering impact of the earlier cyberattack on operations.
6. Deutsche Bank reported higher quarterly profit despite softer investment banking revenue. The lender said retail and corporate banking strength offset weaker capital-markets activity, allowing profit to top forecasts. It also nudged up its full-year group revenue outlook, signaling improved confidence in the business mix.
7. Garmin raised its outlook after posting record quarterly results. The company said broad-based demand and new product launches drove higher revenue, operating income, and net income. It also lifted its full-year revenue and earnings guidance, citing strength across fitness, outdoor, and marine segments.
8. Etsy reported stronger-than-expected quarterly earnings and sales. The company said both profit and revenue exceeded analyst estimates, supported by year-over-year growth in business activity. Shares rose in premarket trading after the release, reflecting improved sentiment around the company’s operating momentum.
9. New Oriental Education reported higher quarterly earnings and revenue but its shares fell sharply in premarket trading. The company said non-GAAP earnings per ADS and net revenue both increased from a year earlier and it reaffirmed its longer-term revenue outlook. The decline in the share price suggests investors focused more on positioning and expectations than on the headline beat.
10. The Federal Reserve is widely expected to hold rates steady as policymakers wait for clearer inflation signals. Market participants are looking for the central bank to keep the benchmark range unchanged while assessing whether price pressures ease further. The policy decision will help shape expectations for the pace of any future tightening and its impact on borrowing costs.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
