Preview of US Stock Market | All three major stock index futures fell together, oil prices rose, and the three AI giants collectively called for a "slowdown," triggering broad premarket declines in chip stocks and optical communication stocks.

Premarket Market Moves 1. On Monday, September 14, premarket trading in the U.S., all three major U.S. stock index futures fell. As of press time, Dow futures were down 0.20%, S&P 500 futures were down 0.55%, and Nasdaq futures were down 1.39%. 2. As of press time, Germany's DAX index was down 0.33%, the U.K.'s FTSE 100 was up 0.66%, France's CAC 40 was down 0.65%, and the Euro Stoxx 50 was down 0.95%. 3. As of press time, WTI crude oil was up 3.03% at $103.08 per barrel. Brent crude oil was up 3.40% at $108.17 per barrel. Market News Fed rate hike imminent, oil prices above $100, AI faith shaken U.S. stocks may face their most perilous week of the year. In the coming week, U.S. stocks will face a dense lineup of catalysts. The first and foremost is undoubtedly the Fed's latest interest rate decision due on September 16. After data showed inflation rebounded in August, the market is heavily betting the Fed will raise rates by 25 basis points at that time. Some investors believe this decision will test Fed Chair Warsh's anti-inflation credibility. At the same time, the three AI giants Anthropic, OpenAI, and xAI all called for a "slowdown" over the past weekend, urging the entire industry to slow the development of frontier models, which will undoubtedly bring short-term pressure to U.S. AI trades. In addition, the situation in the Middle East continues to escalate, with Yemen's Houthi armed forces seizing Perim Island in the Bab el-Mandeb Strait, another oil tanker attacked and set ablaze in Hormuz on Sunday, and Oman temporarily postponing an Iran-Gulf states meeting, with supply risks accumulating across multiple fronts. For inflation, this is adding fuel to the fire. High oil prices may further strengthen the Fed's hawkish language. Three giants jointly call for an "AI slowdown," U.S. AI trades face a stress test. Last weekend, the AI industry staged a rare scene. Anthropic CEO Dario Amodei published a long article titled "We Must Control the Frontier," calling for the entire industry to slow the development of frontier models. Subsequently, OpenAI CEO Sam Altman and xAI's Musk publicly responded. Musk said "Dario is right," while Altman wrote on X: "I agree with Dario, we need to control the pace of advancing frontier AI." Altman also told the media that OpenAI will not go public this year out of safety considerations. Some market participants questioned whether the "slowdown" is truly for safety or because massive capital expenditures mean "they can no longer afford to burn money" if the latter is true, investors will have to re-examine AI pricing logic. However, analysts generally do not believe the long-term logic has been broken. Allspring Global Investments portfolio manager Gary Tan said: "This may bring some short-term pressure, but it is unlikely to undermine the long-term AI trade. AI development is still in its early stages, and I am not sure whether other participants in the ecosystem are willing to slow down in sync at a time when technology is evolving rapidly." Inflation rebound, oil prices above $100, Goldman Sachs Group, Inc. and JPMorgan turn to expecting a Fed rate hike this week. Goldman Sachs Group, Inc. and JPMorgan now expect the Fed to raise rates this week. A string of stronger-than-expected inflation data has challenged market hopes that "price pressures will continue to ease without further policy tightening." In a report released last Friday, Goldman Sachs Group, Inc. abandoned its previous forecast that the Fed would "keep rates unchanged" and now expects the Fed to raise rates by 25 basis points at its September 15-16 meeting. Meanwhile, JPMorgan forecasts the Fed will raise rates by 25 basis points each in September and December. Data released last week showed that U.S. consumer prices and producer prices both rose more than expected in August, while oil prices climbed above $100 per barrel due to renewed escalation of Middle East tensions. After that, these two Wall Street banks joined a growing list of forecasters shifting to a more hawkish stance. AI bubble, diesel shock, surging yields! BofA's Hartnett warns autumn stagflation risk is approaching. Threefold pressures are converging on the market. Bank of America Corp Chief Investment Strategist Michael Hartnett issued a warning: record diesel prices, 30-year U.S. Treasury yields surging to their highest since 2007, and productivity concerns masked by the AI boom are together building an autumn stagflation risk. Hartnett listed the transportation ETF (IYT) as the most critical indicator to watch currently. He pointed out that if IYT breaks below its 200-day moving average support at 80, it will confirm that the summer macro de-risking signal that the "best time has passed" has officially evolved into an autumn stagflation event. At the same time, he warned that "a calm market plus tough policy is a breeding ground for volatility," and explicitly stated that "it is not too late to hedge against an AI bubble stock index now." Bypassing Hormuz, but unable to bypass the flames of war! Saudi Arabia's oil "bypass artery" is severely damaged, Brent crude approaches $110. The latest GEO Group Inc political game dynamics show that the shutdown of Saudi Arabia's east-west oil pipeline, the Houthi advance along the Red Sea, and the postponement of temporary shipping talks in Hormuz have jointly weakened market expectations for a recovery in Middle East oil exports. After Asian market opening on Monday, the international crude oil benchmark Brent crude November futures opened sharply higher and rose 3.6%, forcefully breaking through $108 per barrel; WTI crude October futures rose 2.8% to $102.87 per barrel, and shortly afterward broke through $103 per barrel. With shipping through the Strait of Hormuz continuously obstructed, tightening conditions in the Red Sea will undoubtedly bring new shocks to the global energy market. Ben Cahill, senior researcher at the Atlantic China Welding Consumables, Inc. Council's Global Energy Center, pointed out that the Red Sea route has always been crucial, and over the past six months, a major guarantee of energy security has been the ability to bypass risk areas through Saudi Arabia's east-west oil pipeline and another high-capacity alternative pipeline in the UAE. If the east-west oil pipeline remains closed for a long time, it will pose enormous challenges, because this pipeline is currently the most important conduit for bypassing the Strait of Hormuz. Individual Stock News Chip stocks and optical communication stocks broadly fell premarket. On Monday premarket in the U.S., as of press time, SK Hynix (SKHY.US) fell more than 7%, Intel Corporation (INTC.US) and SanDisk (SNDK.US) fell nearly 6%, Micron Technology, Inc. (MU.US), Western Digital Corporation (WDC.US), Seagate Technology Holdings PLC (STX.US), and AMD (AMD.US) fell more than 5%, Qualcomm (QCOM.US) fell nearly 4%, and Broadcom Inc. (AVGO.US) and NVIDIA Corporation (NVDA.US) fell nearly 3%. Among optical communication stocks, Nokia Oyj Sponsored ADR (NOK.US) fell nearly 9%, Corning Inc (GLW.US) fell more than 8%, Marvell Technology, Inc. (MRVL.US) fell more than 7%, Lumentum (LITE.US) and Coherent (COHR.US) fell nearly 7%, Credo Technology (CRDO.US) fell more than 6%, and Astera Labs (ALAB.US) fell more than 5%. Gurman predicts iPhone Duo: first foldable may become an industry standard, Apple Inc. (AAPL.US) foldable phone may ignite a ten-year replacement cycle. Well-known financial journalist Mark Gurman said Apple Inc.'s first foldable iPhone has the potential to push the still-experimental foldable phone category toward an industry standard. He called the device, named iPhone Duo, one of Apple Inc.'s most influential products, second only to the iMac, iPod, iPad, and Apple Watch. Although foldable-screen phones have existed for years, Gurman believes Apple Inc.'s integration capabilities in software, materials, and durability give it a better chance of winning mainstream consumer acceptance. Gurman also predicted that within ten years, foldable phones will account for the majority of new phone sales, and iPhone Duo is expected to become the leading foldable model by early next year, with demand potentially causing severe shortages and high second-hand prices. Tesla, Inc. (TSLA.US) Roadster teased again after a 9-year delay, but the market is not buying it! Tesla, Inc. posted on X early last Sunday saying "prepare for launch," accompanied by an image of a sports car with four thruster-like tail flames and the date "October 1," reigniting market speculation that its next-generation Roadster is about to launch. The words "WHERE WE'RE GOING" also faintly appeared in the image, seemingly paying tribute to the movie Back to the Future and CEO Elon Musk's long-standing claim that the Roadster can hover. However, on the financial social platform Stocktwits, retail sentiment toward Tesla, Inc. has shifted from "bullish" a week ago to "bearish," with retail investors questioning whether this repeatedly delayed and expensive sports car can truly boost revenue. As of press time, Tesla, Inc. fell nearly 2% in Monday U.S. premarket trading. Astrazeneca PLC Sponsored ADR (AZN.US) breast cancer drug Etcamah's Phase III trial setback may cloud billions of dollars in sales. Astrazeneca PLC Sponsored ADR announced last Friday that its oral selective estrogen receptor degrader (SERD) Etcamah (camizestrant) combined with palbociclib for first-line treatment of ER-positive, HER2-negative advanced breast cancer in the SERENA-4 Phase III trial did not meet the primary endpoint. Although progression-free survival (PFS) improved numerically, it did not reach statistical significance. In response, Bloomberg Intelligence analyst John Murphy said Astrazeneca PLC Sponsored ADR's setback in this breast cancer drug trial could reduce 2035 sales by $2.6 billion to $3.8 billion. RBC Capital Markets analyst Trung Huynh previously estimated the breast cancer drug's potential revenue at about $1 billion. Survival nearly doubled! BioNTech (BNTX.US) lung cancer candidate PRESERVE-003 succeeds in late-stage trial, providing another key support for its oncology transformation. BioNTech said on Monday that a late-stage clinical trial showed its candidate drug gotistobart delivered a clinically meaningful overall survival benefit in a specific type of lung cancer compared with standard treatment. The company said the trial, PRESERVE-003 Phase III, enrolled patients with squamous non-small cell lung cancer whose disease still progressed after prior immunotherapy and chemotherapy; compared with standard chemotherapy, gotistobart nearly doubled survival. As of press time, BioNTech rose more than 3% in Monday U.S. premarket trading.