Pre-Bell｜Wall St Futures Slip; Tempus Up 12%; AGQ Up 11%; SoundHound Up 6%; SLV Up 5%; Alibaba Up 4%

01 Stock Market

As of Jan 12, U.S. stock index futures are soft with E-mini Dow Futures lower by 0.71%, E-mini S&P 500 Futures down 0.56%, and E-mini NASDAQ 100 Futures off 0.78%. The pullback reflects caution ahead of fresh macro headlines, with tech-heavy contracts lagging. Investors are weighing legal and policy uncertainty around the Federal Reserve alongside commodity strength and select corporate actions that could re-shape sector flows into the open.

Notable Stock Movers: metals-linked ETFs gained while several chips and megacaps eased. AGQ up 10.93% at $217.31; SLV up 5.18% at $76.13; GLD up 1.66% at $421.35. NVDA down 1.02% at $182.97; AMD down 1.07% at $200.99; INTC down 2.39% at $44.46; AVGO down 1.60% at $339.45. AAPL up 0.13% at $259.70; GOOG down 0.70% at $326.83; TSLA down 0.91% at $440.94. Chinese ADRs attracted interest: BABA up 4.34% at $157.51; XPEV up 2.65% at $20.55. High-beta names: TEM up 11.88% at $74.14; SOUN up 6.04% at $12.46.

Strength in bullion-linked products aligns with overnight precious metals headlines, while semis’ softness follows ongoing power and infrastructure discussions tied to AI data centers. Pre-bell corporate news spans travel and index changes—Allegiant’s deal for Sun Country and a Nasdaq-100 reshuffle affecting retail and healthcare exposure—while Chinese ADRs are buoyed by listing plans and capital markets activity. Overall, the tone is selective risk-taking in commodities and event-driven single names, with tech acting as a funding source into the bell.

02 Other Markets

• 10-year U.S. Treasury yield rose 0.57%, to 4.19%.

• U.S. Dollar Index fell 0.3410% to 98.79.

• WTI crude oil futures fell 0.86% to 58.61 USD/barrel; COMEX gold futures rose 2.03% to 4592.10 USD/ounce.

03 Key News

1. Federal Reserve said the Justice Department served grand jury subpoenas, escalating legal pressure and raising independence concerns. Chair Jerome Powell stated the action threatens the central bank’s ability to set rates based on evidence rather than political pressure. Market participants are monitoring any impact on monetary policy communications and upcoming appointments.

2. U.S. Attorney’s Office in Washington opened a criminal inquiry into Jerome Powell over Fed headquarters renovation and potential false testimony. Prosecutors are examining public statements and spending records tied to a $2.5 billion project, according to reporting. The probe adds a fresh legal front to tensions between the administration and the central bank.

3. Allegiant (ALGT) agreed to acquire Sun Country (SNCY) in a deal valued around $1.5 billion, aiming to expand its network and fleet scale. The consideration includes stock and cash, with synergies targeted at about $140 million in the early years post-close. The combined carrier expects broader U.S. and international reach, subject to customary approvals.

4. Nasdaq announced Walmart (WMT) will replace AstraZeneca (AZN) in the Nasdaq-100 Index, realigning benchmark sector weights. Index changes can trigger passive flows and portfolio adjustments for funds tracking the benchmark. The switch highlights the evolving composition of large-cap growth constituents.

5. Coinbase (COIN) intensified lobbying as a major crypto market-structure bill advances, warning it may pull support if stablecoin rewards face new restrictions. The company seeks enhanced disclosure rather than limits on customer reward programs, signaling potential changes to product economics. Any Senate markup outcome could shape U.S. crypto market incentives.

6. Stablecoin firm Rain raised $250 million at a $1.95 billion valuation to expand payments infrastructure globally. Backed by leading venture investors, the company plans growth across multiple regions and adaption to evolving regulation. The funding lifts total capital raised and supports scaling of cross-border stablecoin payments.

7. BitMine Immersion Technologies (BMNR) appointed Young Kim as CFO and COO, adding board responsibilities to bolster execution. Kim brings over two decades of investment and portfolio leadership to the mining and data-center operator. The move targets stronger financial oversight and operational scaling amid industry transitions.

8. XPeng (XPEV) hired JPMorgan and Morgan Stanley to prepare an IPO of its flying-car unit, with a confidential filing in place. The listing plan for XPeng Aeroht could proceed as soon as market conditions allow, according to reports. The action underscores ongoing investment in advanced mobility and diversified capital access.

9. Walmart-backed fintech OnePay completed an employee share buyback at a price implying a valuation above $4 billion. The transaction follows a prior funding round and reflects investor confidence in the “super app” strategy. Expanded capabilities aim to deepen customer engagement and broaden retail-fintech integration.

10. Oklo (OKLO) entered into a power supply agreement with Meta Platforms (META) to advance small modular nuclear solutions for data centers. The partnership highlights growing demand for reliable, low-carbon baseload power to support AI workloads. It also draws attention to nuclear lifecycle considerations, including waste management and regulatory pathways.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.