July 9, US Stock Pre-Market
Last night’s US stocks weren’t weak—they were split. The Dow plunged, the S&P slipped slightly, the Nasdaq barely stayed positive, and SOX rose more than 2%. In other words, the money didn’t exit—it just keeps squeezing further into chips.
For today’s pre-market, let’s start with chips.
AVGO is the strongest. Apple has placed long-term chip orders with Broadcom. This isn’t a small headline—funds will recognize it. NVDA is also still in focus. If China’s H200 restrictions truly ease a bit, the upside imagination space is huge. MU and SK hynix’s memory line is still hot too, but I won’t chase MU too aggressively. Memory has already run quite a bit; today is more about seeing whether it can hold up, rather than blindly rushing in.
Energy can be watched today as well, but I don’t want to chase. Oil prices have already jumped ahead of a round, and geopolitics news has already been partly priced in by the market. Names like XOM and CVX can be observed, but today’s likely main character is chips—not oil.
Software is still relatively weak today. CRM was downgraded. And news that Starbucks is using its own AI to replace Microsoft, IBM, and Oracle software will also make the market rethink a question: Are enterprise software companies the beneficiaries of AI, or are they the ones having their budgets eaten by AI? Don’t rush to copy that trade direction first.
There’s one fairly clear story in biopharma. AstraZeneca and Ionis’s ATTR-CM Phase 3 failure is a negative for AZN and IONS, but a positive for competitors like ALNY and BBIO. You can watch this theme’s pre-market strength, but don’t chase too high.
Quick look today:
Chips first.
$AVGO is the one most worth watching.
$NVDA —see whether it can continue to lead on AI.
$MU —check if the memory heat can carry on.
Energy: observe only, don’t chase the highs.
Software: stay out for now.
ALNY and BBIO: event-driven.
For tonight’s recap, the key thing to watch is this:
Whether chips can keep being the standout. If AVGO, NVDA, and MU can all hold up, then the main US stock theme will still be AI semiconductors. If they surge and then pull back, today is very likely to turn into yet another “tech stock realization” session.
Last night’s US stocks weren’t weak—they were split. The Dow plunged, the S&P slipped slightly, the Nasdaq barely stayed positive, and SOX rose more than 2%. In other words, the money didn’t exit—it just keeps squeezing further into chips.
For today’s pre-market, let’s start with chips.
AVGO is the strongest. Apple has placed long-term chip orders with Broadcom. This isn’t a small headline—funds will recognize it. NVDA is also still in focus. If China’s H200 restrictions truly ease a bit, the upside imagination space is huge. MU and SK hynix’s memory line is still hot too, but I won’t chase MU too aggressively. Memory has already run quite a bit; today is more about seeing whether it can hold up, rather than blindly rushing in.
Energy can be watched today as well, but I don’t want to chase. Oil prices have already jumped ahead of a round, and geopolitics news has already been partly priced in by the market. Names like XOM and CVX can be observed, but today’s likely main character is chips—not oil.
Software is still relatively weak today. CRM was downgraded. And news that Starbucks is using its own AI to replace Microsoft, IBM, and Oracle software will also make the market rethink a question: Are enterprise software companies the beneficiaries of AI, or are they the ones having their budgets eaten by AI? Don’t rush to copy that trade direction first.
There’s one fairly clear story in biopharma. AstraZeneca and Ionis’s ATTR-CM Phase 3 failure is a negative for AZN and IONS, but a positive for competitors like ALNY and BBIO. You can watch this theme’s pre-market strength, but don’t chase too high.
Quick look today:
Chips first.
$AVGO is the one most worth watching.
$NVDA —see whether it can continue to lead on AI.
$MU —check if the memory heat can carry on.
Energy: observe only, don’t chase the highs.
Software: stay out for now.
ALNY and BBIO: event-driven.
For tonight’s recap, the key thing to watch is this:
Whether chips can keep being the standout. If AVGO, NVDA, and MU can all hold up, then the main US stock theme will still be AI semiconductors. If they surge and then pull back, today is very likely to turn into yet another “tech stock realization” session.