Pre-Market Most Active Stocks: WOLF, TSLL, BSLK, OCC, NVDA, SQQQ, TSLA, BBAI, CRCL, BAC, AEG, IONQ

The NASDAQ 100 Pre-Market Indicator is up 51.75 to 22,737.32, with total Pre-Market volume at 89,063,869 shares traded. The most active stocks include Wolfspeed, Direxion Daily TSLA Bull 2X Shares, Bolt Projects Holdings, Optical Cable Corporation, NVIDIA Corporation, ProShares UltraPro Short QQQ, Tesla, BigBear.ai, Circle Internet Group, Bank of America Corporation, Aegon Ltd., and IonQ.

The NASDAQ 100 Pre-Market Indicator is up 51.75 to 22,737.32, with total Pre-Market volume at 89,063,869 shares traded. Among the most active stocks are Wolfspeed, Direxion Daily TSLA Bull 2X Shares, Bolt Projects Holdings, Optical Cable Corporation, NVIDIA Corporation, ProShares UltraPro Short QQQ, Tesla, BigBear.ai, Circle Internet Group, Bank of America Corporation, Aegon Ltd., and IonQ.

Asset Managers Boost Nasdaq 100 Futures

According to JPMorgan’s weekly highlights report, asset managers significantly increased their positions in Nasdaq 100 futures last week, buying 1.1 standard deviations above average [1]. This indicates a strong bullish sentiment among institutional investors. Additionally, asset managers added substantially to U.S. Fixed Income positions across tenors, with particularly strong buying in 5-year Treasury futures (4.1 standard deviations). Meanwhile, leveraged funds reduced short positions in Nasdaq 100 futures while increasing shorts in S&P 500 and S&P MidCap 400.

Equity ETFs recorded near-average inflows of $16.6 billion last week, while Fixed Income funds saw below-average inflows of $2.1 billion. Commodity ETFs experienced outflows of $0.5 billion, representing 0.9 standard deviations below average. Regional equity flows showed below-average inflows to U.S. equities ($11.5 billion), while Latin America and Brazil both saw strong inflows at 1.4 standard deviations above average. Futures markets registered large net buying in Bovespa, SSE50, and Corn futures, with significant selling in UK and Korea 10-year futures.

Wolfspeed Shares Surge Amid Leadership Changes

Wolfspeed shares have soared in recent sessions as investors anticipate a potential turnaround for the company. The appointment of Gregor van Issum as CFO has sparked optimism among investors. Van Issum brings over 20 years of experience in tech-focused transformational restructuring and strategic financing, having previously held senior roles at semiconductor manufacturers ams-OSRAM AG and NXP Semiconductors N.V. [2].

Wolfspeed expects to emerge from the restructuring process with 70% less debt, representing a reduction of approximately $4.6 billion. This move is expected to better position the company for long-term growth and profitability. The company has already announced that it will continue to operate normally while it goes through its restructuring, delivering silicon carbide materials and devices to customers. The company expects to emerge from the restructuring process by the end of the third quarter.

NVIDIA Faces New Trade Pressures

NVIDIA shares (NVDA) dropped 0.69% on July 7 as the chipmaker faced new pressure from U.S. trade moves, including a proposed expansion of tariffs and tighter restrictions on artificial intelligence chip exports. The Trump administration is planning to restrict shipments of AI chips to Malaysia and Thailand, which are believed to be potential transshipment points for China [3]. Despite these challenges, NVIDIA has strong demands for its chips elsewhere, including Saudi Arabia.

NVIDIA posted strong fiscal first-quarter results, with adjusted earnings of 96 cents per share on $44.06 billion in revenue, beating Wall Street’s estimates. The company guided for $45 billion in revenue for the current quarter, just under analysts’ forecast of $45.9 billion. Citi analyst Atif Malik raised the firm's price target on NVIDIA to $190 from $180, citing strong AI demand and the company's artificial intelligence total addressable market expansion.

References

[1] https://www.investing.com/news/stock-market-news/asset-managers-boost-nasdaq-100-futures-cut-growth-etfs-93CH-4126667
[2] https://www.benzinga.com/trading-ideas/movers/25/07/46295652/wolfspeed-stock-continues-to-surge-whats-driving-the-momentum
[3] https://www.thestreet.com/investing/analyst-sends-bold-message-on-nvidia-stock-amid-trumps-new-tariffs