US Stock Market Premarket News: "Mini Nonfarm Payrolls" Below Expectations, Smallest Gain Since January, Trump Administration Plans to Impose Additional Tariffs on Chips
BlockBeats News, September 2nd, a summary of key pre-market news in the US stock market on Monday:
1. The US August ADP Employment Change was 38,000, the smallest increase since January, lower than the market expectation of 48,000, with a previous value of 44,000. After the "small nonfarm" data was released, the probability of the Fed maintaining interest rates in September was 37.8%, and the cumulative probability of a 25 basis point rate hike was 62.2%.
2. Fed's Williams stated that inflation remains a top priority and that the current interest rate level is appropriate. Bond yields are crucial information for the Fed to assess the economic situation. The recent rise in yields is mainly driven by strong economic performance, optimistic economic outlook, and robust investment demand, with some correlation to the Middle East conflict.
3. US Commerce Secretary Raimondo stated on Wednesday that the Trump administration is considering a new round of import tariffs on semiconductors, potentially further increasing the taxation on foreign chips to attract more semiconductor manufacturing to the US. However, these tariffs may be accompanied by tariff exemptions for investments in domestic manufacturing companies, similar to the Trump administration's previous actions against the pharmaceutical industry.
4. Oppenheimer raised SpaceX's (SPCX) price target from $250 to $280 and maintained an "Outperform" rating. Analyst Tim Horan believes SpaceX has a vertically integrated AI platform with advantages in data, capital, and NVIDIA GPU resources, while rapidly expanding its infrastructure.
5. Grace Peters, Chief Global Investment Strategist at JPMorgan, stated that as global stock markets face a historically weak September, the continued rise in bond yields poses a significant risk to global stock markets. Peters expects further upside potential for US and European stock markets this year, but she warns that as risk events such as the November US midterm elections approach, the market may experience a 5% to 8% pullback.
6. The US Securities and Exchange Commission announced the full agenda and guest list for the "24-Hour Trading" roundtable meeting to be held on September 17. The meeting will take place at the SEC headquarters from 10 am to 4 pm, open to the public and live-streamed on the SEC website. Participants include Robinhood, NYSE, BlackRock, among others.
7. NVIDIA is in advanced negotiations with the AI startup Hugging Face, looking to acquire the latter for a deal worth around $14 billion. One insider stated that NVIDIA may reach an agreement as early as this week to acquire Hugging Face for $12.9 billion, with the deal possibly including a $1 billion employee retention plan.
8. According to the U.S. Securities and Exchange Commission (SEC) filings, Apple's new CEO, Tim Cook, saw his annual salary increase to $3 million starting from September 1, 2026, and was granted a 2027 fiscal year annual equity award with a target value of $55 million.
