Preview of US Stock Market | The three major stock index futures are not moving in the same direction, the Fed's interest rate decision is coming soon.

Pre-market market trends 1. As of September 17 (Wednesday), pre-market in US stocks, the futures of the three major US stock indexes showed mixed movements. At the time of writing, the Dow Jones futures rose by 0.07%, the S&P 500 index futures fell by 0.04%, and the Nasdaq futures fell by 0.07%. 2. As of the time of writing, the DAX index in Germany rose by 0.04%, the FTSE 100 index in the UK rose by 0.23%, the CAC 40 index in France fell by 0.24%, and the Euro Stoxx 50 index fell by 0.10%. 3. As of the time of writing, WTI crude oil fell by 0.64%, trading at $64.11 per barrel. Brent crude oil fell by 0.60%, trading at $68.06 per barrel. Market News Focus shifts from inflation to job market! Federal Reserve rate cut signals a major policy shift. Federal Reserve officials are expected to cut interest rates on Wednesday to support the weakening US labor market. This shift in policy signals a change - previously, the Fed had stayed put due to concerns about tariffs causing inflation. Investors will pay close attention to Fed Chairman Powell's speech and carefully analyze the latest economic forecasts to find clues about the possible rate path in the coming months. Fed watchers expect that differing views on employment and inflation issues among officials will prevent them from committing to an aggressive rate cut pace. Bank of America Corp senior economist Adia Bokhari said, "Every rate cut will be more difficult than the last one, unless there are signs of sustained deterioration in the labor market." With the Federal Reserve rate decision approaching, the market suddenly increases bets on a 50 basis point rate cut. Global Treasury traders are increasing options bets, believing that the Federal Reserve will implement at least 75 basis points of rate cuts across the remaining three FOMC monetary policy meetings this year, with the expectation of starting with a 75 basis point rate cut. At the same time, SOFR options trading activity shows that some traders are betting that the Federal Reserve will implement a 50 basis point aggressive rate cut in at least one of the remaining three FOMC monetary policy meetings this year, and are even betting that the size of rate cuts this year will echo 2024, with a bet on a 100 basis point rate cut. Although expectations for a 50 basis point rate cut in September have increased in the past few trading days, a 25 basis point rate cut is seen as the Fed's most likely decision. Get ready for the "rate cut gift"! Short-term volatility in US stocks does not change the long-term positive logic. The trading department of JPMorgan Chase stated that when the S&P 500 index is within 1% of its historical high and the Federal Reserve lowers benchmark interest rates, the index has an average increase of nearly 15% over the next year. The department also pointed out that this trend has been very clear in the year since the Federal Reserve started cutting rates last year, with the S&P 500 index rising by about 17% since then. It said, "This kind of return is consistent with the background of 'Federal Reserve rate cuts in a non-recession environment' that we expect in the coming months." However, while market reactions to rate cuts are generally positive in the long term, short-term movements may be more volatile. JPMorgan Chase's trading department pointed out that based on the Fed's tone, the stock market may experience volatility. Gold breaks through the $3700 mark, Goldman Sachs Group, Inc. aggressively targets $5000. With the increasing speculation about a rate cut by the Federal Reserve driving up expectations, the price of gold saw a historic breakthrough - spot gold soared to $3702.84 per ounce on Wednesday, breaking through the $3700 mark for the first time and hitting a new high. Analyst Zain Vawda from OANDA emphasized that while global economic uncertainty and political risks from the GEO Group Inc continue to drive up safe-haven demand, this round of gold price increase is largely driven by market expectations of a significant rate cut by the Federal Reserve. With bullish sentiment from institutions, UBS Group AG has raised its year-end gold price target to $3800, while Goldman Sachs Group, Inc. has made a more aggressive prediction: if 1% of private sector US Treasury holdings are converted to gold, the price of gold is expected to approach $5000. Over-supply alarm in the oil market, traders bet heavily on a 25% oil price drop by the end of the year. Recently, a trader made a significant bet, believing that by the end of this year, the price of Brent crude oil will fall below $50 per barrel. The core argument behind this bet is that, despite ongoing political risks from Ukraine to the Middle East, the growth in oil supply will outweigh the premium brought by these risks. This bet reflects an increasingly prevalent view among several prominent energy forecasting institutions globally: that the oil market will be oversupplied by the end of this year. Analysts at Macquarie pointed out in a report that global oil supply growth will lead to a daily oversupply of about 3 million barrels in the fourth quarter of this year and the first quarter of 2026. Individual Stock News Tesla, Inc. (TSLA.US) reaches confidential settlement in 2019 Autopilot California fatal accident case. According to court documents, Tesla, Inc. has reached a confidential settlement to resolve lawsuits related to two 2019 fatal accidents in California involving the company's Autopilot advanced driver-assistance software. These settlements were reached weeks after a Florida jury ruled that Tesla, Inc. should pay $243 million in compensation and punitive damages to victims of the 2019 fatal accidents involving Autopilot-equipped Model S vehicles. NVIDIA Corporation (NVDA.US) joins forces with AI giants like OpenAI to invest 11 billion in the UK for the "Stargate" project. NVIDIA Corporation announced that it is collaborating with CoreWeave (CRWV.US), Microsoft Corporation (MSFT.US), Nscale, and OpenAI to build an artificial intelligence infrastructure in the UK to promote innovation, economic growth, and job opportunities. Nscale, OpenAI, and NVIDIA Corporation are jointly building the UK version of "Stargate," with the branch project set to be deployed in Nscale's UK data center by 2026. Eli Lilly and Company (LLY.US) oral weight loss drug trial shows 11.2% weight loss! Doctors: could reshape the landscape of obesity treatment. At the European Association for the Study of Diabetes meeting, doctors revealed the results of a large-scale clinical trial of Eli Lilly's weight loss drug, Orforglipron tablets - the drug achieved a significant weight loss of 11.2% in obese adult patients, with side effects comparable to current injectable products. Although in another study, Orforglipron's weight loss effect lagged slightly behind Eli Lilly's in-house injectable drug, Zepbound, and Novo Nordisk A/S Sponsored ADR Class B (NVO.US)'s Wegovy, doctors emphasized that its oral form could greatly expand treatment accessibility - compared to injectables, tablets are easier to produce and use, potentially more cost-effective. AstraZeneca PLC Sponsored ADR (AZN.US) star asthma drug Fasenra fails to meet primary endpoint in late-stage COPD study. AstraZeneca PLC Sponsored ADR stated on Wednesday that its asthma drug Fasenra failed to control the rate of acute exacerbations in a late-stage study of patients with chronic obstructive pulmonary disease (COPD, also known as "smoker's lung"). This setback in the company's efforts to address this serious lung condition. AstraZeneca PLC Sponsored ADR reported that compared to placebo, Fasenra did not meet the primary endpoint in the study, and added that it will analyze the complete study data to better understand the results. Trump's UK visit receives "gift": GlaxoSmithKline plc Sponsored ADR (GSK.US) commits to invest $30 billion in the US. British pharmaceutical giant GlaxoSmithKline plc Sponsored ADR has committed to invest $30 billion in the United States over the next five years. The announcement was made as US President Trump arrived in the UK for a highly anticipated state visit. GlaxoSmithKline plc Sponsored ADR CEO Emma Walmsley had previously stated earlier this year that the company plans to invest billions of dollars in the US over the next five years, calling it a "priority market". The statement released on Wednesday not only specified the amount of this commitment but also preliminarily disclosed some of the investment direction. Puerto Rico signs $4 billion LNG agreement, New Fortress Energy (NFE.US) stock surges. Puerto Rico's governor confirmed on Tuesday that New Fortress Energy has signed a seven-year, $4 billion liquefied natural gas supply agreement to supply liquefied natural gas to Puerto Rico, injecting a shot in the arm for this financially strained company. This temporary agreement brings an end to months of turbulent negotiations and the two parties have reached a long-term agreement to supply liquefied natural gas to Puerto Rico. Puerto Rico's electricity needs rely on energy imports. Following a nearly 45% increase in stock price on Tuesday, as of the time of writing, New Fortress Energy surged over 23% in pre-market trading on Wednesday. Important economic data and events preview 8:30 p.m. Beijing time: US August Building Permits MoM Preliminary 8:30 p.m. Beijing time: US August Housing Starts Annualized MoM 2:00 a.m. Beijing time the next day: Federal Reserve FOMC interest rate decision and economic forecast summary 2:30 a.m. Beijing time the next day: Federal Reserve Chairman Powell holds a monetary policy press conference