U.S. Stock Futures Modestly Lower Amid Geopolitical Uncertainty
Stock futures are modestly lower reflecting a cautious response to renewed geopolitical and macroeconomic uncertainty after the volatility of the past week and before a key Federal Reserve meeting later this week. Markets look set to open mixed to slightly softer as traders navigate a heavy news and event calendar. Investors are bracing for a busy slate of major tech earnings from companies such as Microsoft, Meta, Apple and Tesla, prompting selective positioning ahead of potentially market-moving reports.One of the biggest themes shaping markets is the surge in precious metals as safe-haven demand has risen, with gold topping $5,000 an ounce for the first time and silver hitting new records as traders hedge against uncertainty. The dollar has weakened against major currencies, including the Japanese yen, amid speculation of currency intervention and broader risk rebalancing, which further supports commodities and metals.In pre-market trading, S&P 500 fell 0.08%, Nasdaq futures fell 0.28% and Dow futures fell 0.02%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -USA Rare Earthup 21% after announcing its entry into a non-binding $1.6B letter of intent with the U.S. Department of Commerce and a collaboration with the U.S. Department of EnergySareptaup 2% after reporting topline three-year results from Part 1-treated patients in EMBARK, the placebo-controlled Phase 3 study evaluating Elevidys in ambulatory individuals with Duchenne muscular dystrophy who were aged four to seven at time of treatmentAllied Gold Corporationup 3% after announcing that it has entered into a definitive agreement, pursuant to which Zijin Gold International has agreed to acquire all of the issued and outstanding shares of Allied Gold at a price of C$44 per share in cashMannKindup 3% after reporting that the FDA has approved an update to the prescribing information for Afrezza inhalation powder, revising recommendations for the starting mealtime dosage when patients switch from subcutaneous mealtime insulin regimensSkyWater Technologyand IonQup 8% and 2%, respectively, after the companies announced they have entered into a definitive agreement pursuant to which IonQ will acquire SkyWater for $35.00 per share in a cash-and-stock transactionCoreWeaveup 8% after Nvidiainvested $2B in CoreWeave Class A common stock at a purchase price of $87.20 per shareLOWER -Revolution Medicinesdown 20% after The Wall Street JournalMerckis no longer in discussions to acquire the companyBlackRock TCP Capitaldown 16% after reporting preliminary Q4 resultsEnphase Energydown 3% after notifying employees the company will be reducing headcount and moving certain functions to cost-efficient regions, affecting less than 6% of its workforce
