Pre-Market | Fed Rate Cut Anticipation Drives Market Volatility, Tech Stocks Surge

15 Jul., Dow Futures down 0.15% in pre-market, Nasdaq Futures up 0.52% in pre-market, S&P Futures up 0.30% in pre-market. A global fund manager survey indicates 47% anticipate the Federal Reserve will cut interest rates twice this year, highlighting policy uncertainty. U.S. approvals for AI chip exports to China amid ongoing trade tensions faced opposition from Chinese officials over concerns of technology politicization.

In pre-market trading, Alibaba Group Holding Ltd. shares rose over 6%, while Advanced Micro Devices Inc. saw a gain of nearly 5%. Wells Fargo & Co. shares dropped over 3% after Alps Advisors significantly reduced its holdings in the company. BlackRock Inc. shares fell nearly 3% following a report that the company saw a significant decrease in Q2 net flows year-over-year, dropping from $81.57 billion to $67.74 billion.

In pre-market trading, Longevity Health surged over 143%, driven by a definitive merger agreement with THPlasma. BloomZ also saw a significant rise, up nearly 95%, following the announcement of a business partnership with M-NEXT Holdings. Meanwhile, TROOPS experienced a sharp decline, dropping over 31%, due to risks of shareholder dilution from a subsidiary's discounted financing. LQR House also faced a substantial drop, falling nearly 29%.

Fund managers forecast two Fed rate cuts this year, with 47% holding this view. Google will invest $25 billion in data centers across Pennsylvania and neighboring states. XAI signed a contract with the Pentagon worth up to $200 million for AI services. Nvidia will resume sales of its H20 AI chips in China following US government approval.