US Stock Preview: Meta's AI Muse Expands Ecosystem; Semiconductor Sector Under Pre-market Pressure; Alibaba Down Over 3% as Fliggy Probed
I'm LongbridgeAI, I can summarize articles.AI theme diverges sharply: Meta and Microsoft buoyed by AI tailwinds, while semiconductor stocks slide across the board. Alibaba drops over 3% on Fliggy probe and ADR sale, weighing on China ADRs.
Market Snapshot
AI-themed stocks showed divergent pre-market performance on Wednesday. $Meta Platforms(META.US)$ edged higher, $Microsoft(MSFT.US)$ gained nearly 1%, while semiconductor names faced pressure with $Micron Technology(MU.US)$ and $Intel(INTC.US)$ among the decliners. China ADRs were dragged lower as $Alibaba(BABA.US)$ slumped over 3%. The three major US equity futures traded in a tight range: Dow futures slipped 0.05%, Nasdaq 100 futures fell 0.11%, while S&P 500 futures inched up 0.03%.
Stock News
1. Meta's AI assistant Muse tops App Store, connects to four platforms within 24 hours: Muse surged past ChatGPT and Claude to claim the No. 1 spot on Apple's App Store shortly after launch, and announced connector partnerships with Shopify, PayPal, Expedia, and Instacart within 24 hours — shifting from reliance on simulated web clicks to proactive service delivery by platforms. JPMorgan upgraded $Meta Platforms(META.US)$ to Overweight on the news; the stock, already up nearly 30% in recent weeks, edged 0.26% higher pre-market.
2. Microsoft Copilot enterprise discounts draw attention, Stifel upgrades to Buy: $Microsoft(MSFT.US)$ announced 30% to 50% subscription discounts on Copilot for large enterprises, with paid seats surpassing 30 million. Stifel upgraded the stock to Buy with a price target of USD 575. Microsoft rose 0.87% in pre-market trading.
3. Alibaba drops over 3% pre-market: Fliggy under regulatory investigation, Zhongtong ADR sale sparks concern: $Alibaba(BABA.US)$'s travel platform Fliggy was placed under investigation by regulators, while the company's recent sale of Zhongtong Express ADRs fueled concerns over a potential strategic realignment. The twin headwinds sent Alibaba shares down 3.06% in pre-market trading.
4. Apple unveils AI Mac, pushes into the compute market: $Apple(AAPL.US)$ launched new Mac models, with executives pitching to enterprises that running AI workloads locally on high-performance Macs is cheaper than renting data center capacity. The new machines support on-device AI inference, putting Apple in direct competition with Microsoft and NVIDIA for AI compute budgets.
5. Amazon expands AI shopping ecosystem, edges higher pre-market: $Amazon(AMZN.US)$ broadened its AI shopping ecosystem via "Alexa for Shopping" and blocked rivals including Meta and Perplexity from accessing it. Analysts maintained a Buy rating with an average price target of USD 331.48.
Global Macro
1. US-China summit underway, markets cautious: Investors are closely monitoring the ongoing US-China presidential meeting, staying vigilant on trade policy and geopolitical developments. The outcome could affect key issues including tech supply chains and chip export controls, keeping risk appetite in check for now.
2. US PMI flash readings due tonight, focus on economic resilience: The preliminary September Services, Manufacturing, and Composite PMI readings will be released at 21:45 Beijing Time. The data will provide key clues on the Fed's rate path as markets assess whether the economy maintains its resilient streak. Hang Seng Investment now expects only one more rate hike from the Fed by year-end and has upgraded US equities to Overweight.
Pre-market Turnover TOP10
| No. | Name | Pre-market Change | Pre-market Price | Pre-market Turnover |
|---|---|---|---|---|
| 1 | $Micron Technology(MU.US)$ | -0.90% | 1086.25 | 228 million |
| 2 | $NVIDIA(NVDA.US)$ | -0.42% | 227.90 | 171 million |
| 3 | $Direxion Daily Semiconductor Bull 3X Shares(SOXL.US)$ | -3.82% | 146.15 | 139 million |
| 4 | $SanDisk(SNDK.US)$ | -1.14% | 1865.50 | 121 million |
| 5 | $Meta Platforms(META.US)$ | +0.26% | 738.48 | 121 million |
| 6 | $Invesco QQQ Trust(QQQ.US)$ | -0.23% | 745.74 | 117 million |
| 7 | $Intel(INTC.US)$ | -1.07% | 122.53 | 83.28 million |
| 8 | $ProShares UltraPro QQQ(TQQQ.US)$ | -0.70% | 80.11 | 76.03 million |
| 9 | $Direxion Daily Semiconductor Bear 3X Shares(SOXS.US)$ | +3.88% | 33.68 | 71.19 million |
| 10 | $Greenland Mines(GRML.US)$ | +21.55% | 17.20 | 66.71 million |
Economic Calendar
(All times in Beijing Time)
19:00 MBA Mortgage Applications Composite Index
21:45 US Services PMI (Preliminary)
21:45 US Manufacturing PMI (Preliminary)
21:45 US Composite PMI (Preliminary)
22:30 EIA Crude Oil Inventories