【US Pre-Market】Storage and Optical Communication Stocks Rebound as Bitcoin Tops $80,000; DKS Drops Over 16% Post-Earnings, Intel Rises Over 3%, Bloom Energy Gains Over 5%

TradingKey - On Tuesday, August 25, Eastern Time, futures tied to the three major U.S. stock indexes rose collectively in pre-market trading. Selling pressure on tech stocks eased temporarily and market sentiment recovered cautiously, but overall, investors remained on the sidelines ahead of Nvidia's earnings and key inflation data due this week.

As of press time, Nasdaq 100 futures rose 0.77%, Dow 30 futures gained 0.43%, and S&P 500 futures added 0.37%.

Performance of the three major U.S. stock index futures, Source: Investing

In commodities, gold (XAUUSD) pulled back after peaking, with spot gold trading near $4,630/oz. A weaker U.S. dollar and U.S. fiscal risks continued to provide support, but short-term profit-taking capped gains.

International oil prices fell sharply, with WTI (USOIL) crude dropping below $83 and currently trading near $82; Brent crude fell below $88. The market is reassessing the actual impact of U.S. sanctions on Iran, causing some geopolitical risk premiums to recede.

In cryptocurrencies, Bitcoin (BTC) broke back above $80,000 for the first time in over three months, surging more than 28% since August. The U.S. Treasury's expansion of bond buybacks and Trump's push for Congress to pass the crypto market structure bill continued to boost sentiment in the digital asset market.

Market Movements

Memory chip stocks generally rose in pre-market trading. Seagate Technology (STX) rose nearly 2%, SK Hynix (SKHY) gained over 1.5%, SanDisk (SNDK) climbed over 1%, Western Digital (WDC) and Micron Technology (MU) added about 1%, with the sector rebounding after a broad decline in the previous session.

Optical communication stocks strengthened in pre-market trading. Applied Optoelectronics (AAOI) jumped over 4%, following a drop of more than 13% on Monday; Lumentum (LITE), Coherent (COHR), and Corning (GLW) all rose over 2%.

DICK'S Sporting Goods (DKS) fell about 16% in pre-market trading. The company's latest quarterly results fell short of Wall Street expectations, and it lowered the outlook for Foot Locker. Management noted that the athletic footwear and apparel market remains challenging, with weak operational guidance further heightening investor concerns over consumer demand.

Intel (INTC) rose over 3%, and Bloom Energy (BE) gained over 5%. Latest disclosures showed that former U.S. House Speaker Nancy Pelosi bought Intel stock and call options on July 24, while disclosing an initial investment in Bloom Energy and further increasing her position a few days later.

Shift4 Payments (FOUR) gained over 3% in pre-market trading. Wells Fargo upgraded its rating from "Equal-Weight" to "Overweight" with a price target of $59, noting that the company's valuation lags behind peers while its long-term growth prospects remain solid.

AMD (AMD) rose about 2.5% in pre-market trading. Raymond James upgraded AMD from "Outperform" to "Strong Buy" while raising its price target from $565 to $641.

Market News

The U.S. launches a new round of global sanctions against Iran. U.S. Treasury Secretary Bessent announced tightened restrictions on Iran's global financial ties and warned that institutions facilitating money laundering for Iran could be excluded from the U.S. dollar system. Markets are watching whether these measures will further impact Iranian oil exports.

Bitcoin breaks back above $80,000. Data from CoinMarketCap shows that the total global cryptocurrency market capitalization grew by about 3.45% to $2.71 trillion over the past 24 hours. In addition to improved liquidity expectations, Trump's call for Congress to push forward a crypto market structure bill has also been a key catalyst for the recent rise in digital assets.

Tesla raises Cybertruck prices. Tesla (TSLA) has raised the prices of two Cybertruck models in the U.S. market by $5,000 each. The price of the dual-motor version rose from $69,990 to $74,990, while the all-wheel drive version increased from $79,990 to $84,990.

Nvidia earnings become a key test for the AI trade. Nvidia (NVDA) is about to report its quarterly results. After the Philadelphia Semiconductor Index fell to its lowest level since July, investors will focus on data center revenue, shipping progress of next-generation chips, and management's latest assessment of AI infrastructure demand.

Key Data and Events Preview

At 8:00 AM ET, Richmond Fed President Thomas Barkin delivers a speech.

At 8:00 AM ET, the U.S. releases July building permits total and monthly rate.

At 8:15 AM ET, the U.S. releases weekly ADP employment change.

At 8:55 AM ET, the U.S. releases Redbook commercial retail sales YoY.

At 9:00 AM ET, the U.S. releases the June FHFA House Price Index.