【US Pre-Market】Strait of Hormuz May Reopen Within 7 Days, US Crude Drops Below $90, US Stock Futures Rise, Alibaba Gains Over 3%

Vicor (VICR) surged about 10% in pre-market trading. Driven by a one-time royalty fee from non-exclusive licensing of its vertical power delivery technology, the company raised its Q3 sequential growth guidance from nearly 10% to over 20%. CEO Patrizio Vinciarelli stated that four leading original equipment manufacturers and hyperscalers have currently licensed Vicor's power system technology. As AI server power density continues to rise, market demand for advanced power solutions has also been boosted.

Alibaba (BABA) rose about 3.5% in pre-market trading. At the 2026 Hangzhou Apsara Conference, CEO Eddie Wu stated that customer demand for AI is extremely strong, and the company will continue to increase investment in AI infrastructure, aiming to expand Alibaba Cloud's global data center capacity to over 20 GW by 2032. Alibaba's chip unit, T-Head, also released its next-generation AI chip, Zhenwu V900, which delivers three times the computing power of the Zhenwu M890, and plans to significantly increase annual AI chip shipments. The company is also preparing to train AI models with 5 trillion to 10 trillion parameters.

Cryptocurrency concept stocks generally fell in pre-market trading. Strategy (MSTR) fell about 3.2%, Coinbase (COIN) fell about 2.9%, and Robinhood (HOOD) dropped about 2.5%. Although Bitcoin remained above $85,000, an intraday price pullback triggered profit-taking in related stocks.

Paramount (PSKY) rose about 2.5% in pre-market trading. The company reached settlements with 12 U.S. states and the Writers Guild, clearing the last major regulatory hurdle for its roughly $110 billion acquisition of Warner Bros. Discovery (WBD). Paramount's concessions include increasing movie output and domestic U.S. film and television production investment. The two companies expect the deal to close in early October.

Iran says the Strait of Hormuz could reopen within seven days at the earliest. According to reports, a senior Iranian government official revealed that if the U.S. lifts its naval blockade and eases military pressure, Iran can swiftly restore navigation through the Strait of Hormuz. An Iranian delegation has also arrived in New York, paving the way for potential diplomatic engagements.

The Strait of Hormuz is one of the world's most critical energy transit routes. Expectations of its reopening have reduced the risk of crude oil supply disruptions, driving WTI crude oil below $90 and easing the pressure that oil prices have exerted on global inflation and monetary policy.

U.S. version of iPhone 18 Pro Max still uses Qualcomm baseband. A TechInsights teardown revealed that the U.S. version of the iPhone 18 Pro Max continues to feature Qualcomm's (QCOM) Snapdragon X80 modem, rather than Apple's (AAPL) in-house C2 chip. Apple's U.S. website shows that the iPhone 18 Pro is equipped with the C2 chip, but the Pro Max page does not explicitly specify modem information. This suggests that Apple's in-house baseband replacement plan may still be proceeding on a product-by-product, phased basis.

Prominent investor warns S&P 500 Index could drop sharply after surging higher. The founder of the "Black Swan Fund" expects that the S&P 500 Index could experience a final melt-up before the bubble bursts, easily breaking through 8,000 points. He believes that the prolonged near-zero interest rate environment fueled asset price bubbles, and current higher borrowing costs could ultimately trigger a market reversal. However, this view does not provide a clear timeframe.

SpaceX reportedly plans to phase out Falcon 9. According to The Wall Street Journal, SpaceX (SPCX) is considering phasing out its Falcon 9 rocket, prompting satellite operators and other customers to seek new payload launch solutions. Falcon 9 has long been the workhorse vehicle in the global commercial launch market. If SpaceX shifts more resources toward Starship, it could alter the supply-and-demand structure of the commercial space launch market and create new order opportunities for other rocket companies.

At 8:15 a.m. ET, the U.S. releases the weekly change in ADP employment.

At 10:05 a.m. ET, New York Fed President and permanent FOMC voting member John Williams delivers a speech.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.