Pre-Market | Trump to Announce Fed Governor Candidate as Markets Surge

4 Aug., DOW FUTURES up 0.47% in pre-market, NASDAQ FUTURES up 0.80% in pre-market, S&P FUTURES up 0.57% in pre-market. President Trump stated he will announce a candidate to fill the vacant Federal Reserve governor position within the next few days, potentially affecting monetary policy decisions.

In pre-market trading, Spotify Technology saw a rise of 4.29% following the announcement of an increase in premium subscription prices in select markets. Amphenol also experienced a significant gain, rising 3.60% after revealing the acquisition of CommScope's Connectivity and Cable segment. Mitsubishi UFJ, however, dropped 1.58% as the company reported a decline in quarterly profit while maintaining its annual forecast. AstraZeneca shares fell 1.03% in pre-market trading, with investor concerns rising following Trump's call for lower drug prices.

Psyence Biomedical shares surged nearly 95% in pre-market trading, marking a significant gain for the company. AtlasClear Holdings also saw a substantial increase, rising over 57% in pre-market, following the announcement of a $500,000 debenture investment from Sixth Borough Capital LP. Meanwhile, Replimune Group experienced a sharp decline, dropping nearly 40% in pre-market. Ezgo Technologies also faced a significant drop, falling over 32% in pre-market.

Tesla approved 96 million stock awards to Elon Musk at $23.34 per share and a 2025 CEO bonus, while reporting July China wholesale sales of 67,886 vehicles. Alphabet's venture arm and Nvidia are discussing an investment in AI startup Vast Data, targeting a valuation up to $30 billion. Separately, U.S. President Trump indicated he will nominate a candidate to fill a vacant Federal Reserve board position in the coming days.