U.S. stock index futures rose across the board in pre-market trading on Wednesday, while most major European indices also gained. As of press time, the Nasdaq... S&P 500 futures rose 0.21%, S&P 500 futures rose 0.26%, and Dow Jones futures rose 0.27%.
In terms of individual stocks, most technology stocks rose in pre-market trading, with Oracle among them. Nvidia ASML Bilibili rose over 1%. Most popular Chinese concept stocks fell in pre-market trading, with Bilibili among the few exceptions. Alibaba fell more than 2%; It fell by nearly 2%.
US-listed optical communication stocks continued their strong performance, with POET Technologies rising over 12% and Astera Labs rising over 7%.
robot Stocks related to robotics rallied in pre-market trading, with iRobot rising over 12%, and Richtech Robotics and Serve Robotics rising over 10%. According to Politico, the Trump administration is considering an executive order on robotics next year.
The pre-market ADP employment report showed that U.S. ADP employment fell by 32,000 in November, the lowest level since March 2023, compared to market expectations of an increase of 10,000. The ADP report indicated that job growth will stagnate in the second half of 2025, with employment growth trending downwards. Hiring in the manufacturing, professional and business services, information technology, and construction sectors was particularly weak in November.
Following the release of the US ADP report, spot gold rose slightly by about $6, currently trading at $4219.53 per ounce. US Treasury bonds continued their upward trend.
Hot News
Deutsche Bank: Powell may remain on the board of governor after stepping down as Fed chairman.
Deutsche Bank On Tuesday, it was stated that Federal Reserve Chairs can remain on the Board of Governors after their terms expire, noting that Powell might do so. "The market generally believes that once the Chair's term ends, even if they still have several years remaining as a Governor, they will completely leave the Fed. This view aligns with traditional practice, but it has no legal basis," said Deutsche Bank analyst Jim Reid.
“That’s exactly what’s interesting. Powell’s term as chairman ends in May 2026, but his term as a member of the Board of Governors will continue until January 2028. Legally, he has the right to remain in office. Of the 15 Fed chairs in history, only two chose to remain on the Board of Governors after leaving office—their experience provides an important reference point for Powell’s decision,” Reid added.
Since Trump began his second term, he has repeatedly urged current Federal Reserve Chairman Jerome Powell and the Federal Reserve to cut interest rates significantly, and has even threatened to fire Powell. Faced with Trump's attacks and threats of dismissal, Powell has repeatedly stated that he will not resign and will remain in his post until the end of his term. However, he has repeatedly refused to disclose whether he will step down as a Federal Reserve governor next May when his four-year term as chairman expires.
Latest research: Security oversight of leading AI companies like OpenAI fails to meet global standards.
The Future of Life Institute, a non-profit organization, released a new version of its AI Safety Index on Wednesday, which points out that major artificial intelligence companies such as Anthropic, OpenAI, xAI, and Meta are among the most safe. The company's security governance level is far from meeting the emerging global standards.
The institute stated that a security assessment conducted by an independent panel of experts found that, despite the companies racing to develop “superintelligence,” none have developed a sufficiently robust strategy and plan to control such an advanced AI system.
According to reports, Anthropic achieved the highest overall score in this assessment, but still only received a D rating in "existential safety," meaning the company has not yet established sufficient strategies to prevent catastrophic misuse or loss of control. This is the second consecutive report in which no company received a score higher than D in this metric.
With the exception of a few companies like Meta, all AI companies responded to the list of questions issued by the Future of Life Institute, providing more information about their safety practices.
The report shows that leadership at several companies has discussed addressing existential risks, but researchers point out that "this rhetoric has not translated into quantifiable security plans, specific alignment failure mitigation strategies, or credible internal monitoring and control measures."
Despite record highs in copper prices, we remain bullish! Wall Street offers three key reasons for our bullish stance.
International copper prices broke new highs on Friday and Monday, marking a milestone for this industrial metal. Several Wall Street institutions expect copper prices to continue their strong upward trend.
As of press time, LME copper futures were trading at $11,375.60 per tonne, up 2% from the previous trading day, hitting a record high, with a year-to-date gain of over 27%.
The initial driving force behind the rise in copper prices Supply from the mining sector is tightening. In September, Freeport-McMoRan... A landslide at the company's Grasberg mine in Indonesia resulted in multiple deaths, and operations at the mine were subsequently suspended. The Grasberg mine is not expected to gradually resume production until the first half of 2026, which means a significant short-term capacity gap for the international copper market.
Meanwhile, data centers The construction boom is leading to a large-scale demand for copper materials and new energy sources. Industrial and power grid upgrades have further increased demand for copper, and several analysis agencies have raised their forecasts for the refined copper deficit in 2026 to 300,000 to 400,000 tons.
Several top Wall Street firms have recently raised their copper price targets. Goldman Sachs, for example . JPMorgan Chase believes that copper prices will be in the range of $10,000 to $11,000 per ton next year. Citigroup and other institutions are even more optimistic, believing that copper prices will break through $12,000 per ton.
US Stocks Focus
HSBC raises its target price for Google, praising its "shift from defense to offense"!
HSBC HSBC reports that the success of Google's newly released Gemini 3 series of large language models has mitigated the potential disruptive risks from artificial intelligence (AI) to the tech giant's search business. With this, Google has shifted from a defensive to an offensive stance in the AI race.
"We believe the Gemini 3 Pro is a cutting-edge model that outperforms the ChatGPT 5.1, which strengthens our confidence that Google can expand (not just maintain) its share of the search market," HSBC analyst Paul Rossington wrote in a report to clients.
He maintained his "buy" rating on Alphabet, Google's parent company, and raised his price target from $335 to $370, partly due to the performance of the Gemini 3. This implies that the stock could still rise by about 17% from current levels.
Rossington further pointed out that if Google can really commercialize the TPU, it may generate revenue equivalent to 10% of Nvidia's by 2030 and increase Alphabet's market value by about 6%.
AI ASIC demand continues to surge! Maiwell Technology (MRVL.US) Net profit surged 876% quarter-over-quarter.
Financial reports show that in the third fiscal quarter ending November 1, Marvell Technology's total revenue increased by 37% year-on-year to $2.07 billion, slightly higher than the market expectation of $2.05 billion. GAAP net profit was approximately $1.9 billion, significantly higher than the previous quarter's $194.8 million (a surge of 876% sequentially) and the net loss of $676 million in the same period last year.
Adjusted earnings per share were approximately $0.76, exceeding market expectations of $0.74. The company projects fourth-quarter revenue of approximately $2.2 billion, better than the repeatedly revised market expectation of approximately $2.18 billion. Marvell's better-than-expected results reflect incredibly strong demand for AI ASIC computing clusters ( NVIDIA's strongest competitive technology route for AI GPU computing clusters). As of press time, Marvell's stock was up over 11% in pre-market trading on Wednesday.
Macy's Q3 sales hit a more than three-year high, driven by strong holiday demand, prompting a further upward revision of full-year profit guidance.
Macy's third-quarter results exceeded expectations across the board, with net sales of $4.71 billion, the highest level in 13 quarters. This prompted the company to raise its full-year profit and sales guidance again, indicating that U.S. consumers are still willing to spend despite economic concerns.
On December 3, Macy's , the largest department store chain in the United States, released its latest financial report, showing total revenue of $4.91 billion in the third quarter, exceeding market expectations of $4.75 billion. Adjusted earnings per share were 9 cents, far better than the market's expected loss of 14 cents per share. The strong performance was mainly attributed to robust holiday shopping demand and the effectiveness of the company's transformation strategy.
Macy's raised its full-year adjusted earnings per share guidance to $2-$2.20, higher than the previous forecast of $1.70-$2.05 and the market estimate of $1.99. Full-year net sales guidance was also raised to $21.48-$21.63 billion. Despite the strong results, Macy's stock fell more than 6% in pre-market trading. Macy's stock has risen 34% this year, with particularly significant gains in the past week.
(Article source: Hafu Securities) )
