Preview of US Stock Market | Three major stock index futures rise together, with Tesla and other technology giants' performance set to be released this week. The US CPI is set to take the stage.

Pre-market market trends 1. Before the market opening on October 20 (Monday), the futures of the three major US stock indexes rose together. As of the time of writing, Dow Jones futures rose by 0.14%, S&P 500 index futures rose by 0.27%, and Nasdaq futures rose by 0.35%. 2. As of the time of writing, the German DAX index rose by 1.12%, the UK FTSE 100 index rose by 0.38%, the French CAC40 index fell by 0.17%, and the European Stoxx 50 index rose by 0.64%. 3. As of the time of writing, WTI crude oil fell by 0.84% to $56.67 per barrel. Brent crude oil fell by 0.85% to $60.77 per barrel. Market news "The Super Week" is about to strike! Tesla, Inc. (TSLA.US) and other tech giants are set to release their earnings, with the US CPI making its debut. Amid the impact of US-China trade relations, the US stock market has experienced five days of volatility and is about to enter the third week of government shutdown. Investors in the coming week will analyze the economic situation based on key economic data. The US Consumer Price Index (CPI), originally scheduled to be released on October 15, has been postponed to this Friday (October 24) due to the government shutdown, becoming the last important economic data before the Fed's monetary policy meeting on October 28-29. The US corporate earnings season this week is entering a period of intensive disclosures. The "Tech Giants Earnings Season" kicks off this week. Well-known companies like Tesla, Inc. (TSLA.US), Intel Corporation (INTC.US), Netflix (NFLX.US), and Coca-Cola (KO.US) will release their third-quarter earnings one after another. Goldman Sachs Group, Inc. counters the AI bubble theory: the strong rise of US tech stocks is driven by fundamentals. The analysis team at Goldman Sachs Group, Inc. recently stated that while some "bubble-like signs" have appeared in the current US stock market, the current uptrend, especially the strong performance of tech stocks, is still mainly driven by fundamental growth rather than irrational speculation. The team at Goldman Sachs Group, Inc. pointed out that there are several significant differences in the current environment compared to past periods of excessive speculation, such as "the leading companies with the largest increases in stock prices generally have exceptionally strong balance sheets," and "the AI field is still dominated by a few existing giants" rather than being driven by a large number of non-profitable newcomersthe latter being a typical feature of bubble markets. Be cautious of volatility in the US stock market! Trade concerns overshadow the market, with options traders hedging for significant end-of-month fluctuations. Due to the high uncertainty in the recent US-China trade situation, options traders are buying options to guard against significant stock market fluctuations. At the end of this month, the leaders of China and the US will meet. The implied volatility of the S&P 500 index futures expiring on October 31 is currently close to 20, higher than the contracts around that date. The Cboe Global Markets Inc volatility index (VIX) curve also shows a similar "turning point" at the end of the month. Recently, US President Trump has softened his stance on Chinese tariffs, easing concerns about further escalation of the US-China trade war. Nevertheless, given the possibility of sudden changes, traders are still unwilling to take risks. Jefferies Financial Group Inc. believes in the logic of AI and a bull market for gold. Wall Street financial giant Jefferies Financial Group Inc. recently stated that the market is underestimating the possibility of reaching a US-China trade agreement by the end of October, a development that will temporarily ease the risks and prolong the upward trend of risk assets for these two super economies. Wood, a senior strategist at the firm, stated that AI infrastructure spending remains a core driver of US stock market growth, with expectations of a relaxed stance by the Federal Reserve exacerbating this trend. After gold broke through $4200 per ounce, Wood reiterated a long-term target of $6600 per ounce for gold, emphasizing that the real value of the dollar has depreciated by 99% since 1971. He pointed out that the media frenzy over the "AI bubble" indicates that the stock market has not peaked yet, with mega-sized companies using cash rather than debt for investment, while private creditors and leveraged traders are entering the battlefield, exacerbating the double excess. As US banks face collapses, Carlyle Group Inc CEO speaks out: credit volatility "should be a concern," but there are no signs of a market collapse. Carlyle Group Inc CEO Harvey Schwartz stated that recent volatility in credit markets has been included in his "worry list," but as of now, there are no signs indicating that the market environment is deteriorating. Schwartz pointed out that based on the situation of companies in Carlyle Group Inc's investment portfolio, "data shows that these companies are still growing, employment remains stable, inflation, although slightly sticky, but there are no signs of imminent collapse." He also emphasized that, "nonetheless, in the late stage of the economic cycle, credit market volatility should be a concern." Individual stock news Amazon.com, Inc. (AMZN.US) AWS has a large-scale outage, affecting companies like Coinbase and Robinhood. Amazon.com, Inc.'s cloud service (AWS) experienced a widespread outage on Monday morning, affecting several companies' services, including AI company Perplexity, and financial platforms Coinbase and Robinhood. Coinbase and Robinhood stated that the AWS outage is affecting their services. Perplexity mentioned that this interruption has affected the stability of its website. As the world's most popular cloud service provider, AWS supports most of the internet infrastructure and holds about one-third of the global cloud market share, so any downtime event could trigger a chain reaction. iPhone 17 sparks a trend of phone upgrades, Apple Inc. (AAPL.US) enters the fastest growth track post-pandemic. Supply chain investigations and operator data show that demand for Apple Inc.'s newly designed iPhone 17 has exceeded expectations since its launch in September, driving the fastest growth in its smartphone business since the outbreak of the COVID-19 pandemic. Visible Alpha data indicates that analysts expect Apple Inc.'s iPhone revenue to grow by about 4% to around $190 billion in the current fiscal year, with growth approaching 5% by 2026. Despite delays in the launch of AI features and renewed US-China tariff threats putting pressure on Apple Inc.'s stock price, this optimistic outlook has boosted market sentiment ahead of the holiday season. United States Antimony Corporation (UAMY.US) rises significantly pre-market! Plans to acquire Australian miner Larvotto entirely through stock to strengthen critical mineral portfolio. United States Antimony Corporation announced that it has submitted a confidential, non-binding proposal to acquire 100% of Larvotto Resources Limited's shares through an arrangement scheme in Australia. This acquisition aims to integrate the strengths of both parties in critical mineral resources and antimony production capacity. The transaction is still subject to the signing of a final agreement and obtaining all necessary regulatory approvals. As of the time of writing, United States Antimony Corporation rose over 16% pre-market on Monday. Astrazeneca PLC Sponsored ADR (AZN.US) breast cancer drug Enhertu shows superior efficacy in preventing recurrence, potentially curing early patients. Astrazeneca PLC Sponsored ADR and Japanese pharmaceutical company Daiichi Sankyo's anti-cancer drug Enhertu has brought better treatment effects for early-stage breast cancer patients. In two key trials announced at a recent European Oncology meeting in Berlin last weekend, Enhertu's performance in preventing disease recurrence was superior to Roche's Kadcyla and had better results when used before surgery. These results have the potential to benefit more patients with this popular drug, bringing them closer to achieving the goal of a cure. Cleveland-Cliffs Inc (CLF.US) Q3 earnings fall short of expectations. The financial report shows that Cleveland-Cliffs' Q3 revenue was $4.73 billion, higher than the $4.57 billion in the same period last year, but lower than the market's expected $4.9 billion; the adjusted loss per share was $0.45, higher than the $0.34 loss per share in the same period last year, and essentially in line with market expectations. The company has reduced its 2025 capital expenditure forecast from $6 billion to $5.25 billion. The company stated that it has reached new and growing supply agreements with all major original equipment manufacturers in the automotive industry, while also signing memorandums of understanding with leading global steel producers seeking to operate in the US business and trade compliance. The company also stated that it would focus on potential rare earth opportunities in its upstream mining assets. As of the time of writing, Cleveland-Cliffs rose over 11% pre-market on Monday. Important economic data and events forecast 8:30 PM Beijing time - US September Building Permits Rate Initial 8:30 PM Beijing time - US September Housing Starts Annualized Rate Earnings forecast Tuesday morning: Zions Bancorporation, N.A. (ZION.US) Tuesday pre-market: GE Aviation (GE.US), Coca-Cola Company (KO.US), Lockheed Martin Corporation (LMT.US), General Motors Company (GM.US)