Pre-Bell | S&P, Nasdaq Futures Inch up Ahead of Warsh's Debut Meeting; Semiconductor Stocks Rise with Intel, AMD up over 2%

01 Stock Market

As of Jun 17, U.S. stock index futures performed as follows: Dow futures inched lower by 0.04%, S&P 500 futures were essentially flat with a 0.01% uptick, and Nasdaq 100 futures firmed 0.37% as traders weighed chip-sector headlines against a muted macro backdrop.

Notable Stock Movers: INTC up 2.62% at $120.12 after announcing risk production of its 18A-P node; AMD up 2.39% at $519.42 and MRVL up 2.66% at $286.08 followed the rebound in AI hardware peers; memory-heavy ETF SOXL up 5.15% at $237.85 while inverse fund SOXS down 5.62% at $4.37; satellite-to-device developer ASTS up 5.18% at $86.51; blue-chip chipmaker TSM up 1.06% at $430.33; smartphone supplier NOK up 1.94% at $14.25. In contrast, megacaps NVDA up 0.19% at $207.80 and AAPL down 0.16% at $298.75 moved modestly, while electric-vehicle bellwether TSLA down 0.43% at $402.91.

Chip strength dominated the pre-market leader board thanks to Intel’s manufacturing update and renewed optimism for AI infrastructure spending; concurrently, automotive retail and space-exploration themes lifted selective cyclicals, helping offset pressure in broader consumer technology names.

02 Other Markets

• 10-year U.S. Treasury yield rose 0.44%, to 4.45%.

• U.S. Dollar Index rose 0.11% to 99.66.

• WTI crude oil futures rose 0.81% to 75.88 USD/barrel; COMEX gold futures fell 0.27% to 4 342.50 USD/ounce.

03 Key News

1. CarMax reported stronger-than-expected first-quarter revenue, buoyed by higher used-vehicle prices. Sales climbed 6.2% to $8.01 billion, surpassing analyst consensus, even as retail gross profit per unit narrowed; shares advanced in pre-market trade on confidence that wholesale strength can offset affordability headwinds.

2. Intel entered risk production for its new 18A-P manufacturing process, aiming at faster, more power-efficient chips. Management said the variant boosts speed by 9% or cuts power by 18% versus standard 18A, a milestone intended to attract external foundry customers and reduce quarterly losses in the manufacturing unit.

3. Rackspace Technology signed a multiyear deal to deploy 30 MW of AMD AI hardware across global data centers. The agreement designates AMD as the preferred supplier for Rackspace’s regulated-industry AI cloud, enhancing compute capacity from late-2026 and reinforcing earlier partnerships with leading software vendors.

4. Australian unions reached a pay agreement with INPEX, ending strikes at the Ichthys LNG facilities. More than 400 workers endorsed the settlement, prompting the suspension of industrial action that had shut one production train and threatened 10% of Australia’s LNG export capacity.

5. BlackRock launched the iShares Bitcoin Premium Income ETF, offering yield-enhanced exposure to the cryptocurrency. The fund seeks to capture Bitcoin upside while generating monthly options income, broadening institutional choices for crypto-linked cash flow strategies on Nasdaq under the ticker BITA.

6. Coinbase unveiled plans to introduce tokenized stock trading and options for both crypto and traditional equities. The roadmap also includes borrowing against staked Solana and a Bitcoin-rewards travel portal, underscoring the exchange’s ambition to evolve into an integrated financial super-app.

7. Binance is set to lose permission to serve EU clients as its MiCA license application faces rejection, according to Reuters sources. Failure to secure approval before the end-June deadline would force the world’s largest exchange to restructure European operations or seek authorization in another member state.

8. General Atlantic is in talks to lead a funding round exceeding $2 billion for Kuaishou’s video-generation unit Kling AI. The contemplated investment would value Kling AI near $18 billion and position the U.S. private-equity firm as a rare Western backer of China’s competitive generative-AI sector.

9. Apple is reportedly developing next-generation AirPods featuring built-in cameras to enhance Siri’s on-device AI functions. Supply-chain chatter sent key Hong Kong–listed component makers higher as investors priced in potential demand for new optical modules ahead of an anticipated late-2027 launch window.

10. Tuttle Capital introduced the T-REX 2X Long SpaceX Daily Target ETF, enabling leveraged exposure to the newly listed aerospace giant. The fund joins a wave of double-leveraged and inverse SpaceX products that collectively attracted over $1 billion in volume within days, highlighting intense speculative interest in the high-profile debut.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: For informational purposes only; not investment advice.