I'm LongbridgeAI, I can summarize articles.Meta launches AI agent Muse, surging over 5% premarket; US-Iran conflict pushes Brent crude past USD 100; Qualcomm and Amazon strike USD 60 billion AI chip collaboration.
Market Snapshot
AI and tech sectors showed clear divergence premarket: $Meta Platforms(META.US)$ unveiled personal AI agent Muse, surging 5.14% premarket; semiconductor stocks were broadly under pressure, with $Alphabet-A(GOOGL.US)$ down 2.19%, $Intel(INTC.US)$ down 1.89%, $Amazon(AMZN.US)$ down 1.37%, and $NVIDIA(NVDA.US)$ down 0.37%. On Wednesday, the three major US stock index futures all declined premarket: Dow futures fell 0.51%, Nasdaq 100 futures fell 0.32%, and S&P 500 futures fell 0.24%. Escalating US-Iran conflict drove oil prices sharply higher, with WTI crude up 2.04% to USD 94.93/barrel and Brent crude up 2.39%, breaching the USD 100 mark. European equities fell across the board, with Germany's DAX down 1.56% and France's CAC 40 down 1.92%.
Stock News
1. Meta unveils AI agent Muse, surges over 5% premarket: $Meta Platforms(META.US)$ officially launched its personal AI agent Muse on September 8, capable of handling shopping, ticket booking, appointments and other tasks on behalf of users, with a free tier and USD 20/USD 100 monthly plans. The product is initially available to users aged 18 and above in the US, marking a key step for Meta in the AI agent space. Mark Zuckerberg described it as the company's "biggest business opportunity." Shares surged more than 5% premarket to USD 645, with turnover reaching USD 450 million.
2. Qualcomm and Amazon strike deep AI chip partnership: $Qualcomm(QCOM.US)$ and $Amazon(AMZN.US)$ announced a multi-generational collaboration to jointly develop custom inference chips for AI data centers and optical interconnect solutions supporting up to 1.6T. An SEC filing revealed that Qualcomm will issue up to 25 million warrants to Amazon, with an exercise price of USD 161.26, vesting tied to chip purchases with a cap of USD 60 billion, of which 3.75 million warrants have already vested due to initial purchase commitments. The move marks Qualcomm's accelerated expansion from mobile into AI infrastructure.
3. US-Iran conflict escalates, Brent crude breaches USD 100: The US military struck targets near Iran's Kharg Island, with the Islamic Revolutionary Guard Corps threatening retaliation. Kharg Island is Iran's primary oil export hub, and the conflict directly threatens global oil supply. WTI crude rose to USD 94.93/barrel, while Brent crude broke above USD 100, both hitting six-week highs. Markets are concerned that persistently higher energy prices could fuel inflation and influence the Federal Reserve's rate decisions.
4. Alphabet drops over 2% premarket, mega-cap tech under pressure: $Alphabet-A(GOOGL.US)$ fell 2.19% premarket, while $Alphabet-C(GOOG.US)$ declined 1.99%. Amid rising rate expectations and elevated geopolitical risks, mega-cap tech stocks were broadly under pressure, with $Tesla(TSLA.US)$ down 0.99% and $Apple(AAPL.US)$ down 0.34%. Markets are watching the upcoming CPI and PPI inflation data due this week.
5. Apple fall event looms, iPhone 18 series stirs anticipation: Apple will hold its fall product launch event this week, expected to unveil the iPhone 18 series and its first foldable phone. Hong Kong version proxy-purchasing fees on second-hand platforms have surged to RMB 1,000-1,500, with foldable phone premiums expected to reach RMB 3,000-5,000. Separately, Apple's smartphone chip market share rose to 19% in the second quarter, helped by strong demand for the iPhone 17 Pro.
6. Intel falls nearly 2% premarket; TSMC pushes STCO for AI chip iteration: $Intel(INTC.US)$ fell 1.89% premarket. $TSMC(TSM.US)$ introduced the "System Technology Co-Optimization" (STCO) concept at SEMICON Taiwan, aimed at breaking down silos across the supply chain by bringing equipment and materials suppliers into earlier development stages, shortening the verification cycle for advanced AI chip packaging and ensuring production timelines.
7. OpenAI Astra demand surges, Pro subscriptions may be paused: OpenAI's head of product said demand for AI assistant Astra has been "unprecedented," and that if it continues the company may be forced to pause new Pro subscriptions. This reflects explosive growth in demand for AI agent products and indirectly validates the strategic timing of Meta's Muse launch.
Global Macro
1. US-Iran military conflict escalates, geopolitical risks spike: The US military struck targets near Iran's Kharg Island, with the Islamic Revolutionary Guard Corps responding that it would target relevant vessels. Kharg Island handles roughly 90% of Iran's crude exports, and the conflict directly threatens global energy supply. Brent crude broke above USD 100, while WTI approached USD 95, both at six-week highs. Investors are closely watching whether the conflict will spread to the Strait of Hormuz.
2. Fed rate hike expectations rise, next week's meeting in focus: The CME FedWatch Tool shows markets pricing in roughly a 60% probability of a 25-basis-point rate hike in September. UBS revised its forecast, now expecting the Fed to hike 25bp each in September and December. The 10-year Treasury yield is trading around 4.80%. PPI and CPI data due this week could be key variables influencing rate decisions. Fed Chair Warsh previously struck a hawkish tone at Jackson Hole, stressing no compromise on inflation control.
3. Canada imposes retaliatory tariffs on US, trade friction intensifies: Canada has imposed retaliatory tariffs of up to 50% on USD 20 billion worth of US goods, as US-Canada trade tensions continue to escalate. Combined with the Middle East conflict and rising rate expectations, global risk aversion has markedly increased, with European equities falling across the board and the dollar index hovering weakly below the 99 level.
4. China's August CPI and PPI beat expectations, yuan hits over four-year high: China's August CPI and PPI data both exceeded market expectations, with the yuan rising to its highest level in more than four years. Financial regulators will hold a press conference on September 10 to discuss the financial sector's implementation of the 15th Five-Year Plan. The Hang Seng Index closed down 42 points yesterday, with market turnover narrowing for a third consecutive session amid a cautious mood.
Pre-market Turnover TOP10
1. $SpaceX(SPCX.US)$ turnover USD 622 million, down 0.93%
2. $Meta Platforms(META.US)$ turnover USD 450 million, up 5.14%
3. $Micron Technology(MU.US)$ turnover USD 273 million, down 0.33%
4. $Nasdaq 100 ETF - Invesco(QQQ.US)$ turnover USD 265 million, down 0.47%
5. $SanDisk(SNDK.US)$ turnover USD 213 million, down 0.39%
6. $Alphabet-A(GOOGL.US)$ turnover USD 182 million, down 2.19%
7. $Semiconductor Bull 3x - Direxion(SOXL.US)$ turnover USD 179 million, down 2.77%
8. $NVIDIA(NVDA.US)$ turnover USD 145 million, down 0.37%
9. $Amazon(AMZN.US)$ turnover USD 126 million, down 1.37%
10. $Broadcom(AVGO.US)$ turnover USD 123 million, down 0.64%
Economic Calendar
(All times in CST)
19:00 MBA Mortgage Applications Composite Index WoW
19:00 30-Year Fixed Rate Mortgage Contract Rate
20:15 ADP Weekly NER Pulse Employment Data
20:55 Johnson Redbook Retail Sales Index YoY
23:00 LSEG/Ipsos Primary Consumer Sentiment Index