US PREMARKET ACTIONS: September 18, 2025
**Futures Indices**
Dow Futures: +0.5%
S&P 500 Futures: +0.7%
Nasdaq 100 Futures: +1%
US 10-year yield: 4.06% (-2 bp)
Market Environment
US indexes are making strong gains this Thursday morning as investors digest the Fed’s first rate cut of 2025. The FOMC reduced its key rate by 25 basis points to 4.00%–4.25%, as expected, with only one dissenter: Stephen Miran, who argued for a more aggressive 50-point cut.
Jerome Powell described this decision as a “precautionary cut”, which temporarily weighed on the markets. But investors now seem to be banking on continued monetary easing despite a weakened labor market.
"The Fed acted as expected... This suggests rate cuts even if goods inflation rises next year." – Paul Donovan, UBS
"The market is less confident about the scope of the coming easing cycle." – Jim Reid, Deutsche Bank
Today, weekly jobless claims (expected at 246K) and the Philly Fed manufacturing index (consensus at +3.0) will be closely watched. The leading indicators index for August is also expected today (-0.1% expected).
Stocks to Watch
**GAINING**
89bio (ETNB) +84%
The stock is surging after Roche announced an acquisition at $14.50/share, valuing the deal at $2.4B (up to $3.5B with a contingent value clause). That’s a 79% premium over the previous price.
Nanobiotix (NBTX) +64%
Promising Phase 1 results for JNJ-1900 treatment in combination with immunotherapy. Response rate of 47.4% in patients with melanoma resistant to anti-PD-1 therapy.
Intel (INTC) +27%
Shares soar after the announcement of a strategic partnership with Nvidia to co-develop chips. Nvidia is investing $5B in Intel, strengthening their tech collaboration.
IonQ (IONQ) +7%
Agreement with the US Department of Energy for a quantum communications satellite project under the “Quantum in Space” initiative.
Super Group (SGHC) +5.14%
Online betting specialist hits a 52-week high after raising forecasts, driven by strong momentum in sports betting and casinos.
HIVE Digital (HIVE) +5.15%
Rises after acquiring a 7.2 MW data center in Toronto, enhancing its hosting and mining capacity.
Ballard Power (BLDP) +0.60%
Unveiled the FCmove-SC at Busworld, dedicated to fuel cells for buses, sparking modest optimism.
Redwire (RDW) +4.19%
Boosted by a contract with NATO for Stalker drones.
**DECLINING**
Cracker Barrel (CBRL) -9%
Disappointing results with a 25% drop in profit and 2026 outlook below consensus. Business hurt by falling traffic, estimated down 4–7%.
Red Cat Holdings (RCAT) -11.27%
Drops after a $150M capital increase via ordinary shares. Funds will support expansion into surface drones.
Darden Restaurants (DRI) -6.13%
Despite better-than-expected sales at Olive Garden, shares decline, impacted by underperformance in fine dining.
Nucor (NUE) -4%
Slips following an earnings warning. The steelmaker expects Q3 EPS below expectations, hurt by weaker margins and volumes.
ATIF Holdings (ZBAI) -5.20%
Falls after a non-binding letter of intent to acquire Mask Global Market. Market remains cautious.
AMD (AMD) -5%
Down on news of the Intel-Nvidia partnership, which could shift market share in data centers and PCs.
Have a great session everyone
Sylvain Mouilhaud: Stock Coach