Express News of US Stock Market Pre-market

1. The three major stock index futures in the US all fell: Dow futures dropped by 0.09%, S&P 500 futures fell by 0.32%, and Nasdaq futures fell by 0.47%. 2. European stock market indices are all rising: Germany's DAX30 fell by 1.01%, France's CAC40 fell by 0.69%, Euro Stoxx 50 fell by 0.73%, and the UK's FTSE 100 fell by 0.34%. 3. The federal government will face a partial shutdown risk starting next week, which may restrict financial regulatory operations, delay the release of key economic data such as employment and inflation, and lead to significant layoffs at the SEC. 4. The US government has initiated an investigation into the import of robots, industrial machinery, and medical devices under section 232 of the Trade Expansion Act, with recommendations to be submitted within 270 days, laying the groundwork for expanding tariff ranges as pushed by Trump. 5. The Grasberg copper mine in Indonesia has stopped production due to a mudflow accident, leading Goldman Sachs to lower global copper supply expectations, with an estimated reduction of 525,000 tons. MacMoran Copper and Gold revealed that due to the accident, the mine's production in the fourth quarter of 2025 will be at an extremely low level. 6. A report by Morgan Stanley stated that pre-orders for the Apple iPhone 17 series are strong, delivery times are generally extended, and the performance in the Chinese market exceeds expectations, potentially driving an increase in shipments. 7. JPMorgan Chase has raised its target price for TSMC to 1,550 New Taiwan dollars and maintained an "overweight" rating, expecting that demand for AI data centers and the ramp-up of N2/N3 advanced processes will drive a 24% increase in its US dollar revenue in 2026, with a maintained gross profit margin of 50%, and capital expenditures rising to $48 billion to expand capacity. 8. Circle is researching a mechanism that would allow stablecoin transactions to be "reversible" in specific fraud or hacker scenarios, to balance security and final settlement. Currently, the circulation of USDC has reached $74 billion.