US PREMARKET ACTIONS: September 5, 2025
Futures Indices
Dow Futures: -0.1%
S&P 500 Futures: +0.3%
Nasdaq 100 Futures: +0.7%
US 10-year Yield: 4.12% (-4bps)
Market Environment
US indices are mostly in the green this morning after the release of a weaker-than-expected jobs report, which strengthens hopes for a rate cut by the Fed this month.
The August NFP report shows only 22K jobs created versus 75K expected, with July revised up to 79K. The unemployment rate climbs to 4.3%, and wage growth remains contained (+0.3% MoM / +3.7% YoY).
"Today marks the beginning of a crucial sequence: NFP today, CPI next Thursday, and the Fed decision on September 18." – Jim Reid, Deutsche Bank
Thus the market continues to expect monetary easing, despite Fed Chairman Jerome Powell's caution regarding data dependence.
UBS, on the other hand, highlights the deterioration in BLS data quality, which could sow doubt in monetary policy decisions.
"One isolated figure may make the Fed hesitate, but the market prefers a scenario of economic weakness." – Paul Donovan, UBS
Stocks to Watch
** PRSO (+87.04%)**
Mobix Labs raises its offer to acquire Peraso in a cash and stock deal, highly appreciated by the market.
** AVGO (+13.36%)**
Broadcom jumps after strong Q3 results and the announcement of a $10 billion AI contract. The CEO confirms staying longer, boosting confidence.
** BNTX (+9.18%)**
BioNTech rises after positive phase 3 results for a breast cancer treatment.
** BILL (+8.91%)**
BILL Holdings gains after Starboard Capital takes a stake, potentially prompting board changes.
** NFGC (+3.17%)**
New Found Gold to acquire Maritime Resources, creating a new Canadian gold producer.
** YAAS (-67.15%)**
Youxin Technology drops after the pricing of its $6 million public offering, which is highly dilutive.
** AOUT (-16.44%)**
American Outdoor Brands falls following the impact of tariffs on its clients' restocking cycles.
** LFVN (-11.96%)**
LifeVantage disappoints with its results; uncertainty around LoveBiome's growth.
Recommendation Changes
Upwards
Alphabet Inc. ($GOOGL) → Baptista Research upgrades to "outperform" (vs hold), price target raised from $222 to $271
Broadcom Inc. ($AVGO) → CTBC upgrades to "add" (vs neutral), price target from $268 to $350
Humana Inc. ($HUM) → Bernstein remains at "outperform", price target raised from $269 to $341
Nvidia Corp. ($NVDA) → First Shanghai remains at "buy", target increased from $170 to $215
Roku Inc. ($ROKU) → Baird remains at "outperform", price target raised from $90 to $110
Neutral
Lucid Group Inc. ($LCID) → Cantor Fitzgerald maintains "neutral", price target raised from $3 to $20
Molina Healthcare Inc. ($MOH) → Bernstein maintains "outperform", but lowers the target from $284 to $220
Strategy Inc. ($STRY) → President Capital remains at "buy", but lowers the target from $553 to $389
Downwards
Ciena Corp. ($CIEN) → B Riley downgrades to "neutral" (vs buy), but raises the target from $90 to $113
Lululemon Athletica ($LULU) → William Blair downgrades to "market perform", Stifel downgrades to "hold" (vs buy) and reduces the target from $324 to $205
Nisource Inc. ($NI) → Jefferies downgrades to "hold" (vs buy) and lowers the target from $48 to $44
Have a good session everyone
Sylvain Mouilhaud: Actions Coach