Pre-market News Briefing for U.S. Stocks

① U.S. stock index futures all fell: Dow futures down 0.44%, S&P 500 futures down 0.40%, Nasdaq futures down 0.41%. ② European stock market indices all fell: Germany's DAX30 down 0.31%, France's CAC40 down 0.65%, Euro Stoxx 50 down 0.47%, UK's FTSE 100 down 0.18%. ③ Federal Reserve Governor Cook refused to resign: denied mortgage fraud allegations, stating he will provide accurate information to address concerns. ④ Kansas City Fed's Schmid: Current policy is "moderately restrictive," overall position is appropriate; inflation risk is slightly higher than employment risk. ⑤ Bank of America: Powell's Jackson Hole speech may serve as a short-term catalyst for small-cap stocks, but sustained outperformance still depends on fundamentals, tariffs, and macro environment. ⑥ Meta confirmed on Thursday that it has paused hiring for its newly established artificial intelligence department, ending a wave of high-priced talent poaching in the AI researcher and engineer fields. ⑦ Oak Tree Capital's Marks: U.S. stocks show signs of bubble, valuations are high, but have not yet reached the adjustment threshold; beware of "mean reversion." ⑧ Walmart fell over 3% in pre-market trading, after the company reported Q2 revenue growth of 4.8% year-on-year, exceeding expectations; EPS was below expectations. ⑨ Miniso rose about 6.5% in pre-market trading, after the company reported Q2 revenue growth of 23.1% year-on-year, exceeding expectations, with TOP TOY revenue surging 87.0%, and same-store sales turning positive