- U. S. stock futures remained nearly flat on Tuesday evening following the third consecutive weak trading session.
- The market downturn was driven by rising oil prices and higher Treasury yields, which caused major indices to drop on the first day of September.
- Investors are now awaiting upcoming economic reports, including ADP jobs data and the Federal Reserve's Beige Book, alongside key corporate earnings.
- Deutsche Bank analyst Gianmarco Conti states that the next wave of the artificial intelligence buildout will focus on connectivity rather than compute.
- Conti gave buy ratings to eight hardware stocks, naming Coherent and Lumentum as his highest conviction picks due to strong demand and supply constraints.
- Other companies receiving buy ratings include Arista Networks, Cisco Systems, and Hewlett Packard Enterprise, which benefit from crucial networking and cooling technologies.
- Benzinga's options activity scanner tracked abnormal whale transactions in 10 Information Technology stocks during the session.
- Notable examples include a bullish put option for BMNR valued at $44.0K and a bullish call option for MU valued at $100.8K.
- Other tracked assets such as NBIS, DELL, HPE, INFY, SNDK, CRWV, CBRS, and AMAT exhibited varying put and call option activities with sentiments ranging from bearish to neutral.