[Pre-market U.S. Stocks] Pre-market keywords of the day (2025.08.27)

Huida's financial report sets risk appetite, futures are almost flat and wait and see key signals after hours, and the market focuses on the traction of AI momentum and policy variables on the evaluation. Before the opening of U.S. stocks tonight in Taiwan time, Dow Jones, S & P 500 and Nasdaq futures rose slightly, the 10-year U.S. bond yield remained stable, crude oil and gold futures fell back, and Bitcoin rose slightly at about US$111,000. The overall mood tends to wait and see.

AI financial reports and guidance are the main line, and Huida's after-hours announcement has become the market trend. Nvidia(NVDA) expects to report second-quarter revenue growth of more than 50% from the same period a year earlier to approximately US$46.52 billion, and adjusted earnings per share are estimated at US$1.02. Option pricing showed market bets were one of the biggest post-earnings swings in a year, with shares rising slightly less than 1% before the market. Investors are concerned about the impact of continued demand for data centers, supply chain growth and government cooperation arrangements on the pace of gross profit and capital expenditure in the next quarter. The financial report and outlook were released in the early morning of August 28, Taiwan time.

Policy uncertainty is heating, and the doubling of U.S. tariffs on India to 50% has triggered a chain of assessments. The Indian government responded that the United States raised tariffs because of India's purchase of Russian oil, calling the move unfair and unreasonable. Market assessments will affect potential disturbances on energy flows, transportation and consumer prices. Although there is no systematic risk avoidance in the short term, policy noise will pull on corporate cost expectations.

The White House's deepening of industrial involvement has become the focus, and discussions on the layout of defense equity have triggered repricing thinking. CNBC reported that the White House has acquired a 10% stake in Intel(INTC) and signed revenue sharing agreements with Nvidia(NVDA) and Advanced Micro Devices(AMD); the Commerce Secretary said the Pentagon is discussing whether to take a stake in defense contractors, including Lockheed Martin (LMT). Such unconventional policy tools have created a new policy discount or premium framework for science and technology and military industry evaluation, and the market closely tracks implementation details and timetables.

Personnel disputes at the Federal Reserve Commission continue, and the market is temporarily dominated by corporate fundamentals in the short term. Federal Reserve Governor Lisa Cook reportedly planned to file a complaint against her dismissal, and the Federal Reserve pointed out that a director can only be removed for "reasons." Although the outside world is concerned about the independence of the central bank, the three major indices were still high on the previous trading day in Taiwan time, mainly driven by expectations for Fuida's financial report. Changes in interest rate expectations and policy communication remain one of the sources of subsequent fluctuations.

The performance of international stock markets is divided, with political risks in Europe and pressure on Chinese stocks affecting emotions. France's CAC40 fell 1.7% on concerns about government instability, and China's mainland stock CSI300 weakened even as its annual decline in industrial profits eased in July. The US dollar was relatively stable and commodity prices retreated, indicating that funds are mainly waiting for key financial reports of U.S. stocks, and there is no obvious risk-avoidance turning signal.

Catering and luxury apparel led the gains before the market, with individual stock news driving pre-market divisions. Cracker Barrel Old Country Store(CBRL) decided to restore the original brand logo in response to the controversy. The pre-market boost increased by nearly 6%, and political attention amplified the event. Canada Goose Holdings(GOOS) surged about 14% on news that its controlling shareholder Bain Capital had received a privatization bid. Sources said that the verbal offer is attractive to the company's valuation, and relevant progress and formal conditions remain to be seen.

The capital trends of large institutions have attracted attention, and the adjustment of shareholding by Norway sovereign funds has triggered industry-linked observations. Foreign news pointed out that the fund has withdrawn from Caterpillar(CAT) and five Israeli banks, citing geopolitical and compliance considerations. The real impact on U.S. industrial and financial stocks still depends on the weight and shareholding size, but it shows that the repricing of long-term funds under the geographical and ESG frameworks is underway.

Bond markets and commodities are neutral, and volatility may amplify after after-hours news. The 10-year U.S. bond yield was near flat, and the decline in oil and gold reflected the simultaneous cooling of risk aversion and inflation expectations. The futures index rose slightly but limited, with short-term transactions close to financial reports and policy news dominated. If after-hours financial reports and management guidance deviate from consensus, the probability of expanding volume and price spreads will increase.

Pre-market digital assets stabilized, and the linkage of risky assets continued to be observed. Bitcoin fluctuated around approximately US$111,000, showing a wait-and-see trend simultaneously with the U.S. stock futures index. Encrypted assets are highly sensitive to the liquidity environment. If there are marginal changes in policies and interest rate expectations, they may have short-term related fluctuations in the same or opposite direction with the performance of high-growth technology stocks.

The trading day focuses on three axes, financial guidance, policy margins and overseas risk pricing. First, Huida's forward-looking explanation of the demand intensity of data centers, supply chain bottlenecks and capital allocation; second, the follow-up details of U.S. -India tariffs and U.S. equity and profit-sharing arrangements for the technology and military industries; and third, the Federal Reserve Commission's personnel and legal progress in the independence dispute. To sum up, before the financial report came into effect in the early morning of August 28, Taiwan time, the market tended to be mainly light positions and event-driven, and risk taking would be adjusted until the news was clear.