01 Stock Market
As of Nov 2, U.S. stock index futures performed as follows: E-mini Dow Jones futures rose 0.49% to 52174.00, E-mini S&P 500 futures rose 0.46% to 7648.75, and E-mini Nasdaq 100 futures rose 0.75% to 28747.25. The setup points to a firmer opening, with the tech-heavy contract leading the three major benchmarks. Compared with the prior cash close, the move in futures suggests buyers are leaning into growth and semiconductor exposure ahead of the open.
Notable Stock Movers: NVIDIA up 1.13% at $206.95; Advanced Micro Devices up 1.49% at $512.35; Micron Technology up 1.89% at $901.50; Taiwan Semiconductor Manufacturing up 1.75% at $413.25; and Bloom Energy up 2.17% at $207.58. On the downside, Meta Platforms fell 0.78% at $610.20, while Apple edged lower 0.14% at $344.15. Among Chinese ADRs and related listings, XPeng rose 4.78% at $9.47, Bilibili rose 4.81% at $13.29, Alibaba rose 3.41% at $101.39, and PDD Holdings rose 1.70% at $79.95. The group also showed strength in Kingsoft Cloud up 3.22% at $8.02, Hesai Group up 3.04% at $12.55, and GDS Holdings up 2.74% at $22.52.
Broader leadership remained concentrated in chips and high-beta technology names, with Lam Research up 1.82% at $243.46, AMD up 1.49% at $512.35, Marvell Technology down 0.42% at $195.57, and leveraged semiconductors showing a mixed tone as SOXL rose 4.23% at $80.31 while SOXS fell 4.30% at $49.84. Outside chips, Tesla rose 1.24% at $404.76, Amazon rose 0.81% at $242.29, Microsoft rose 0.63% at $525.20, and CoreWeave rose 2.88% at $56.45. In select consumer and internet names, Yum China rose 2.12% at $46.75, Weibo rose 1.13% at $6.28, and JD.com rose 1.25% at $26.00.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.00%, to 4.93%.
• U.S. Dollar Index fell 0.2845% to 101.66.
• WTI crude oil futures fell 4.27% to 99.67 USD/barrel; COMEX gold futures rose 0.35% to 3912.50 USD/ounce.
03 Key News
1. EchoStar said it rose after reports that SpaceX is in talks over Boost Mobile access. Reuters reported that SpaceX is discussing either buying EchoStar’s wireless service Boost Mobile or gaining access to the network it leases from AT&T and T-Mobile. The report said EchoStar shares rose in pre-market trading, while AT&T and T-Mobile fell. The companies did not immediately comment.
2. Perion agreed to be acquired by Affle for $11.70 a share in cash. The definitive merger agreement values Perion at a premium to its prior closing price and includes a 40-day go-shop period for alternative offers. Citibank is providing debt financing, and the transaction is not subject to a financing condition. The deal gives Perion shareholders a clear cash exit if it closes as planned.
3. Onewo subsidiaries entered RMB 661.7 million debt settlement agreements tied to property transfers. The company said vendors and debtors will transfer properties or parking spaces to settle outstanding payables owed by subsidiaries and related parties. Some counterparties are controlled by China Vanke, making the arrangements connected transactions. The disclosures indicate the agreements require reporting but do not need independent shareholder approval.
4. Wuxi Lead Intelligent Equipment disclosed a share buyback filing. The company repurchased 154,800 H shares for HKD 3.15 million, with purchase prices ranging from HKD 20.16 to HKD 20.66 per share. It said the repurchased shares were retained as treasury shares. The move signals ongoing capital management from the industrial equipment maker.
5. Standard Chartered partnered with Fireblocks to add banking capabilities to a digital asset platform. The bank said the collaboration will support digital asset clients and comes alongside the launch of tokenized deposits in Hong Kong for corporate customers. The arrangement uses HKMA’s Ensemble TX infrastructure for real-time transfers and 24/7 settlement in central bank money. The step expands the bank’s digital-asset offering.
6. Merck said it will present Phase 3 HIV data at an upcoming medical conference. The company plans to share new oral HIV treatment and prevention data, including analyses of once-weekly islatravir/lenacapavir and once-daily IDVYNSO studies. Merck also said the FDA accepted supplemental applications tied to previously untreated adults and longer-term data. The disclosures indicate continuing progress across its HIV pipeline.
7. Alphamab Oncology disclosed a share buyback through a next-day HKEX filing. The company repurchased 230,000 shares for HKD 1.39 million and said the shares will be held as treasury shares. The purchases were made at prices between HKD 5.985 and HKD 6.12 per share. The filing reflects another capital return action by the biotech company.
8. Jufeel International said its auditor resigned and audit work had not begun. The departing auditor stated it could not assess whether it could finish the audit for the current reporting period because of deadline constraints. The board said it is seeking a replacement auditor and reported no disagreements with the outgoing firm. The resignation adds near-term reporting uncertainty for the company.
9. CSPC Pharmaceutical Group reported positive Phase III trial results for a diabetes regimen. The company said the triple combination of prusogliptin, dapagliflozin, and metformin showed superior HbA1c reduction versus the comparator regimens. It also said the treatment had a favorable safety profile. The data support the company’s late-stage diabetes program.
10. RPM International said it will host an investor day focused on its MAP 2030 program. The event is intended to outline the company’s next operating improvement plan and other strategic initiatives. Investor days often provide updated targets, priorities, and execution details. The announcement points to a forthcoming management presentation on operating improvements.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
