US PREMARKET ACTIONS: September 22, 2025

**Futures Indices**
Dow Futures: -0.3%
S&P 500 Futures: -0.2%
Nasdaq 100 Futures: -0.3%
US 10-year Yield: 4.13%

Market Environment

Markets are starting the week in the red after Donald Trump's shocking announcement: a new $100,000 annual fee imposed on H-1B visas. This move is weighing on investor sentiment, particularly in the technology and financial sectors, which heavily use these visas to hire international talent.

According to Jim Reid (Deutsche Bank):

"This created huge uncertainty over the weekend for those who rely on it."

Despite this, Wall Street ended Friday with all-time highs for the three major indices. Caution prevails this morning as attention turns to the PCE report on Friday, a key inflation indicator.

"It should turn out softer than expected, especially in light of the latest inflation data," said Reid.

Additionally, four Fed members will speak today, including John Williams, considered an influential voice.

"Fed President Williams, as a leading economic voice, is also likely to attract market attention," notes Paul Donovan (UBS).

Stocks to Watch

HOUS +50.78%
Compass merges with Anywhere Real Estate in an all-stock deal. The market applauds this sector consolidation.

LASE +21.19%
Laser Photonics rises after announcing a multi-system order from a semiconductor equipment manufacturer.

PINC +8.00%
Premier to be acquired by Patient Square Capital in a $2.6bn deal. The acquisition is welcomed by investors.

GLD +1.07%
Gold hits a new historic high, driven by massive ETF inflows and hopes for Fed rate cuts.

GIBO +1.33%
GIBO Holdings regains compliance with Nasdaq listing rules, reassuring shareholders.

ABAT -8.48%
American Battery Technology plunges after announcing a $50mn capital increase plan, leading to shareholder dilution.

Recommendation Changes

Upgraded
Coca-Cola ($KO) → JP Morgan maintains its buy recommendation.

Apple ($AAPL) → JP Morgan remains at buy.

Oklo ($OKLO) → Wedbush names the company a top beneficiary of rising nuclear energy interest for AI applications.

Google ($GOOGL) → According to Dan Niles, the group is the long-term winner in consumer AI.

Neutral
Apple ($AAPL) → Jefferies maintains its neutral stance on the stock.

Have a good session everyone
Sylvain Mouilhaud: Equity Coach