US PREMARKET STOCKS: October 8, 2025

Futures Indices

Dow Futures: +0.2%
S&P 500 Futures: +0.2%
Nasdaq 100 Futures: +0.19%

Market Environment

US index futures point to a slightly positive open this Wednesday, fueled by renewed appetite for risk assets and a spectacular surge in gold.

The spot gold briefly exceeded $4,000/oz for the first time, supported by Fed rate cut expectations, geopolitical tensions, and a rush into gold ETFs.

“US-listed ETFs attracted a record $35 billion by the end of September, surpassing the 2020 annual peak,” highlights Konstantinos Chrysikos (Kudotrade). “Global flows reached $64 billion YTD, with $17.3 billion just in September.”

Investors' attention today is on the release of the September FOMC minutes. With no official economic data (due to the shutdown), these minutes will provide valuable insight into the timing of rate cuts.

Markets now forecast an 80% chance of two 25bps cuts by year-end, down from 90% last week.

In tech, Wedbush expects a very strong earnings season:

“Cloud giants like Microsoft, Amazon, and Alphabet have benefited from a very robust enterprise AI demand. The Street is still underestimating the scale of the coming investment cycle,” says Dan Ives, referring to $3 trillion in planned spending over three years.

Stocks to Watch

Jiuzi Holdings (JZXN) +28.42%
Jumps after announcing a $1 billion diversification plan to expand its portfolio and strengthen its strategic position.

TRX Gold (TRX) +27.57%
Shares soar after reporting record gold production in Q4, boosting its credibility in the junior gold sector.

POET Technologies (POET) +12%
Gains after closing a $75 million private placement to fund expansion into AI hardware solutions.

Rocket Lab USA (RKLB) +6%
Rises on a new launch deal with Japan’s space agency iQPS, bringing the number of planned missions to 7.

Karyopharm (KPTI) -25.30%
Drops after raising $100 million, intended to extend cash runway to 2026. The market fears excessive dilution.

Vicarious Surgical (RBOT) -9.04%
Falls on a $5.9 million raise via private placement. Investors see it as a signal of weakness.

Esperion Therapeutics (ESPR) -18%
Sinks after launching a public offering of 30 million shares at $2.50, viewed as dilutive.

Joby Aviation (JOBY) -9%
Under pressure after a $513.9 million shares offering to finance the development and certification of electric aircraft.

Iris Energy (IREN) -5%
Announces a $875 million private convertible bond placement, raising concerns about future dilution.

Tesla (TSLA) +0.4%
Slightly up after unveiling cheaper Model 3 and Y versions. Gene Munster (Deepwater) welcomes the volume strategy, but some analysts (Wedbush, Camelthorn) remain cautious about the real impact on demand. The stock rebounds after a 4.5% drop on Tuesday.

Rating Changes

Upgrades

Advanced Micro Devices (AMD) → DZ Bank AG upgrades to buy, target raised from $165 → $250.
Advanced Micro Devices (AMD) → DBS Bank upgrades to buy, target raised from $155 → $260.
Cheniere Energy (LNG) → Zacks upgrades to outperform, target of $270.
Freeport-McMoRan (FCX) → Citi upgrades to buy, target of $48.
Ionis Pharmaceuticals (IONS) → JP Morgan upgrades to overweight, target of $80.
Otis Worldwide (OTIS) → Wolfe Research upgrades to outperform, target of $109.

Neutral

Intel (INTC) → HSBC stays cautious, downgrades to reduce but raises the target from $21.25 → $24.
Kratos Defense (KTOS) → B Riley moves to neutral, target raised to $105.
Lantheus Holdings (LNTH) → Goldman Sachs downgrades to neutral, target lowered from $110 → $77.
C.H. Robinson (CHRW) → JP Morgan keeps overweight, target raised to $155.
ELF Beauty (ELF) → Morgan Stanley keeps overweight, target at $170.
HCA Healthcare (HCA) → KeyBanc keeps overweight, target at $465.

Downgrades

Arista Networks (ANET) → Zacks downgrades to neutral, target $165.
Caesars Entertainment (CZR) → Zacks cuts to underperform, target lowered to $22.50.
Incyte Corporation (INCY) → Oppenheimer cuts to market perform, target $82.

Have a great trading session everyone
Sylvain Mouilhaud: Stock Coach