Pre-Bell | U.S. Futures Dip; SanDisk Soars 22%; Tesla Jumps 3%; Gold, Silver Stocks and ETFs Sink

01 Stock Market
As of Jan 30, U.S. stock index futures performed as follows: Dow Jones futures fell 0.21%, S&P 500 futures fell 0.26%, and Nasdaq 100 futures fell 0.39%. Mega-cap tech sentiment stayed mixed after busy earnings and guidance updates, while speculation around monetary leadership kept traders cautious. Commodity-linked vehicles weakened alongside precious metals, and AI-storage beneficiaries drew interest after fresh outlooks. Overall positioning reflected a modest risk-off tone into the bell, with attention on company-specific catalysts and macro headlines.

Notable pre-market movers featured AI storage, megacaps, and precious metals proxies. SNDK up 22.01% at $658.01; MU up 3.98% at $453.12; TSLA up 2.60% at $427.39; SOFI up 4.64% at $25.49. Precious-metals proxies slumped: AGQ down 22.30% at $310.39; SLV down 11.42% at $93.51; GLD down 4.82% at $472.00. Large-cap tech was mixed: MSFT up 0.56% at $435.91; NVDA down 0.77% at $191.03; AAPL down 0.36% at $257.35; META down 1.41% at $727.90; AMD down 1.50% at $248.40; INTC down 0.62% at $48.36.

AI-driven storage optimism buoyed SNDK after a blockbuster outlook, with spillovers into peers like MU, while TSLA advanced on reports of potential ecosystem consolidation. Weakness in AGQ/SLV/GLD tracked a sharp pullback in precious metals, echoing futures declines. Mixed megacap performance reflected a tug-of-war between strong services growth and cost signals at AAPL, R&D prioritization at MSFT, and policy headlines that could sway rates and risk appetite into the cash open.

02 Other Markets

• 10-year U.S. Treasury yield rose 0.39%, to 4.24%.

• U.S. Dollar Index rose 0.21% to 96.36.

• WTI crude oil futures fell 0.58% to 65.04 USD/barrel; COMEX gold futures fell 3.62% to 5161.00 USD/ounce.

03 Key News

1. SanDisk (SNDK) raised guidance sharply, signaling AI-fueled demand and lifting sentiment across storage peers. Management projected revenue of $4.4–$4.8 billion and adjusted EPS of $12–$14 for the next quarter, far above consensus. The company cited accelerating enterprise SSD deployments and strong data-center orders tied to AI infrastructure buildouts.

2. Western Digital (WDC) guided revenue and EPS above expectations on robust AI storage demand. The company sees adjusted revenue around $3.2 billion (±$100 million) and EPS near $2.30 (±$0.15), supported by high-capacity HDDs and enterprise SSDs. Management highlighted favorable pricing dynamics as hyperscalers scale data storage for AI workloads.

3. Apple (AAPL) reported results above expectations, highlighting strong iPhone demand and record Services revenue. iPhone sales outperformed across regions, while the Services segment set a new record, supporting elevated margins. Executives acknowledged memory-price pressures but emphasized product mix benefits and ongoing services momentum.

4. Visa (V) beat on profit and revenue as global payment volumes rose, though cross-border growth moderated. Management cited strength in value-added services and money movement solutions, alongside resilient holiday spending. Investors weighed a slightly slower pace in cross-border metrics and a cautious expense outlook into upcoming quarters.

5. KLA (KLAC) delivered higher profit and revenue, but conservative tones around outlook pressured the shares. Guidance called for revenue in the $3.2–$3.5 billion range and adjusted EPS of $8.30–$9.86, with services staying a bright spot. Investors parsed AI-cycle timing and capex normalization across foundry, logic, and memory customers.

6. Deckers (DECK) lifted full-year sales and EPS targets on strong demand for Hoka and UGG, boosting retail sentiment. Management pointed to robust performance from flagship lines and successful promotions, with Hoka leading growth. The guidance revision underscored brand strength despite a mixed discretionary spending backdrop.

7. SpaceX is exploring a merger with Tesla (TSLA) or xAI, potentially consolidating Elon Musk’s ecosystem ahead of a blockbuster listing. Scenarios under consideration could link orbital data centers, energy storage, and AI compute, with significant financing interest expected. The tie-up talk supported TSLA shares and sharpened focus on synergies across space, energy, and AI.

8. The White House signaled an imminent decision on the next Federal Reserve chair, intensifying market rate-watch dynamics. Prediction markets indicated shifting odds toward a former Fed governor, prompting speculation on balance-sheet policy and liquidity. Rate-sensitive assets and growth equities recalibrated as investors assessed potential policy continuity versus change.

9. The U.S. administration threatened new tariffs targeting Canadian aircraft and sanctioned oil exports to Cuba, raising trade risk for aerospace and energy. The aircraft move primarily implicates Canadian-made jets, while the oil measure pressures suppliers linked to Cuban flows. Companies across aviation and energy supply chains faced headline sensitivity as trade-policy uncertainty resurfaced.

10. Chinese regulators conditionally approved DeepSeek to purchase Nvidia (NVDA) H200 AI chips, pending finalized stipulations, according to reports. The move follows U.S. export clearance for the H200 and could unlock incremental China demand subject to domestic conditions. Any shipments remain sensitive to geopolitical scrutiny, but the development underscores persistent appetite for advanced AI compute.

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