01 Stock Market
As of Dec 19, U.S. stock index futures are mixed, with Nasdaq 100 firmer and Dow slightly softer. Nasdaq 100 futures rose 0.33% at 25,344.25, while S&P 500 futures gained 0.19% at 6,843.25. Dow futures dipped 0.02% at 48,312, pointing to a modestly constructive tone for growth and AI-linked names into the open, even as the broader tape consolidates this week’s gains.
Notable Stock Movers: Oracle, Nike, Micron, and China ADRs led pre-market action. Oracle (ORCL) up 5.04% at $189.10; Nike (NKE) fell 9.98% at $59.08; Micron Technology (MU) up 2.00% at $253.51; NVIDIA (NVDA) up 1.43% at $176.63; Tesla (TSLA) up 0.99% at $488.15; PDD Holdings (PDD) up 6.82% at $113.01; Broadcom (AVGO) up 0.81% at $332.55; Alphabet (GOOG) up 0.34% at $304.77; AMD (AMD) up 1.40% at $203.87; Meta (META) fell 0.20% at $663.10; Apple (AAPL) fell 0.19% at $271.67; Amazon (AMZN) up 0.37% at $227.59; Palantir (PLTR) up 0.72% at $187.03; Microsoft (MSFT) up 0.14% at $484.66; UnitedHealth (UNH) up 0.35% at $329.29; Alibaba (BABA) up 1.41% at $149.40; Trump Media (DJT) up 1.48% at $15.08.
Strength in semis and AI infrastructure reflected upbeat chip commentary and selective policy catalysts. Oracle’s gains tracked reports of signed agreements tied to a new TikTok U.S. joint venture, while Nike’s slide followed continued margin pressure despite top-line resilience. Micron’s strong outlook helped sentiment in memory and HBM suppliers, and AI infrastructure names edged higher alongside favorable policy developments; CoreWeave (CRWV) up 5.35% at $71.30. China ADRs, including PDD and BABA, advanced, while mega-cap tech moves were more measured.
02 Other Markets
10-year U.S. Treasury yield rose 0.85%, to 4.15%.
U.S. Dollar Index rose 0.2407% to 98.68.
WTI crude oil futures rose 0.38% to 56.21 USD/barrel; COMEX gold futures fell 0.14% to 4358.30 USD/ounce.
03 Key News
TikTok and ByteDance signed agreements to form a U.S. joint venture majority-owned by American investors, positioning Oracle to secure a key cloud customer. The JV is set to oversee U.S. data protection, algorithm security, and content moderation while TikTok licenses recommendation technology to the new entity. The structure aims to address national security concerns and could drive higher-margin workloads for Oracle (ORCL), which is up 5.04% at $189.10 pre-market.
The U.S. Department of Energy signed collaboration agreements with 24 organizations to advance the Genesis Mission and accelerate AI-enabled scientific discovery. Participants include Microsoft (MSFT), Google (GOOG), NVIDIA (NVDA), AWS (AMZN), Oracle (ORCL), IBM, Intel (INTC), AMD (AMD), HPE, Palantir (PLTR), OpenAI, Anthropic, and xAI. The initiative targets enhanced national lab capabilities, reduced reliance on foreign tech, and broader applications from nuclear energy to robotics.
Nike reported quarterly results showing continued gross margin pressure and weakness in China despite revenue and EPS topping estimates. Management cited tariffs, product mix resets, and discounting to clear aged inventory as margin headwinds, with gross margin down roughly 300 basis points. Revenue was $12.43 billion, while the company signaled near-term revenue softness amid an ongoing transition; Nike (NKE) fell 9.98% at $59.08 pre-market.
Micron Technology delivered earnings and guidance well above expectations, highlighting sold-out HBM supply and multi-year data center demand. EPS was $4.78 with revenue of $13.6 billion, and the midpoint of current-quarter revenue guidance at $18.7 billion exceeded consensus. Management indicated persistent supply tightness in AI memory and multi-year contracts across hyperscalers; Micron (MU) is up 2.00% at $253.51 pre-market.
FedEx posted stronger quarterly profit and revenue and raised the low end of full-year EPS guidance, supported by pricing and cost actions. Adjusted EPS rose with revenue at $23.5 billion, and the company guided to $17.80–$19.00 EPS for the year. Network transformation and savings initiatives offset softer volumes; FedEx (FDX) pre-market color tracked marginal strength in logistics peers.
U.S. Commerce Department initiated an interagency review of license applications that could permit shipments of NVIDIA’s H200 AI chips to China. The review spans State, Energy, and Defense, potentially paving the way for initial H200 exports under heightened national security scrutiny. The move could temper demand for local alternatives while preserving U.S. leadership; NVIDIA (NVDA) is up 1.43% at $176.63 pre-market.
The Bank of Japan raised its policy rate to 0.75% and signaled readiness for further hikes as inflation holds above target. Policymakers emphasized that real rates remain significantly negative, keeping conditions accommodative even after normalization steps. The shift affects global funding dynamics and yen-based carry trades.
Nasdaq and NYSE confirmed holiday operating schedules, including an early close and a regular session around the Christmas period. The exchanges reiterated continuity for U.S. equity trading while aligning with previously communicated seasonal adjustments. Market participants should note timing implications for liquidity and settlement windows.
BlackBerry lifted the lower end of its annual revenue outlook and reported quarterly sales above estimates amid stronger cybersecurity and automotive software demand. Q3 revenue was $141.8 million, with its QNX auto segment rising 10%. Management highlighted expanding deployments across embedded systems and continued bookings strength.
The U.S. President signed an executive order directing the rescheduling of cannabis to Schedule III and exploring CBD access under Medicare. The action aims to expand medical research, reduce punitive tax burdens, and improve patient access while maintaining safeguards for youth. Industry responses underscored potential operational benefits despite regulatory uncertainty.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
