Early Look

Tuesday, September 9, 2025

U.S. stock futures are higher, building on yesterday’s gains as the Nasdaq Comp looks to make it another record high after stocks climbed Monday as traders bet on almost three Federal Reserve rate cuts starting in September, with Treasury yields sliding and the dollar retreating. On the event calendar today, Apple (AAPL) will host its annual fall event on Sept. 9 at its Cupertino, Calif., headquarters, where the company is expected to debut its latest iPhone and Apple Watch lineups. Apple’s highly anticipated iPhone 17 Air is expected to be revealed at 5.5 millimeters thin; it will be far slimmer than the standard iPhone and iPhone Pro (7.8 and 8.3 millimeters respectively). The other big piece of news expected today is the annual job revisions, as the data is backwards-facing and is expected to show that about 700,000 fewer jobs were created from March 2024 to March 2025 than previously thought. This week’s release comes as extra attention is focused on the job market after new jobs data for the month of August, released last Friday, was much weaker than expected. Overnight there were also three big deals boosting sentiment in metals space (TECK/NGLOY), biotech space (NVS/TRML) and the AI space with (NBIS/MSFT). Treasuries slip, snapping a four-day winning streak as investors braced for inflation readings this week. In Asian markets, The Nikkei Index dropped -184 points to 43,459, the Shanghai Index fell -19 points to 3,807, and the Hang Seng Index jumped 304 points to 25,938. In Europe, the German DAX is down -87 points to 23,719, while the FTSE 100 rises 20 points to 9,240.

• The Dow Jones Industrial Average rose 114.09 points, or 0.25%, to 45,514.95
• The Nasdaq Composite gained 98.31 points, or 0.45%, to 21.798.70
• The Russell 2000 Index advanced 3.85 points, or 0.16% to 2,394.90

• 7:45 AM ET ICSC Weekly Retail Sales
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 1:00 PM ET US Treasury to sell$58B in 3-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: AMRK AVAV CVGW GME INNV LAKE LMNR MEI MIND MTRX ORCL RBRK SKIL SNPS

• Bank America 2025 Global Real Estate Conference, 9/9-9/11
• Barclays 23rd Annual Global Financial Services Conference, 9/8-9/10 in New York
• Deutsche Bank IAA Cars Conference, 9/8-9/9, in Munich, Germany
• Goldman Sachs Communacopia + Technology Conference, 9/8-9/11, in San Francisco, CA
• Morgan Stanley Global Healthcare Conference, 9/8-9/10
• Morgan Stanley Latin America Conference, 9/8-9/10
• Morgan Stanley European Utilities and Energy Summit, 9/9-9/11
• Piper 4th Annual Growth Frontiers Conference, 9/9-9/11, in Nashville, TN
• Roth Capital 12th Annual Solar & Storage Symposium, 9/8-9/10, in Las Vegas
• Wolfe Research Tech Conference, 9/8-9/11

• ChargePoint Holdings Inc. (CHPT) files for mixed shelf of up to $400M – SEC filing
• Ford (F) is recalling about 1.5 million vehicles in the U.S. due to a rear-view camera issue causing inverted, distorted, or blank image, the National Highway Traffic Safety Administration says. The recall affects select vehicles from model years 2015 to 2019 of Lincoln MKC, Lincoln Navigator, Mustang, F-250, F-350, F-450, F-550, Expedition, Edge, Transit, Transit Connect, Econoline and Ranger, the NHTSA says
• Mama’s Creations (MAMA) Q2 EPS $0.03 vs est. $0.02, adj EBITDA $3.3Mm vs est. $2.464Mm on revs $35.2Mm vs est. $33.6Mm.
• Mission Produce (AVO) Q3 adj EPS $0.26 vs est. $0.15, adj EBITDA $32.6Mm vs est. $25Mm on revs $357.7Mm vs est. $320.25Mm; sees Q4 avocado industry volumes approx +15%, sees pricing lower by approx 20-25%, sees meaningful blueberry volume increases offset by lower avg sales prices.
• Toyota (TM) will consolidate its U.S. Lexus plants into one in a supply-chain restructuring that responds to tariffs imposed by the U.S. on Japanese vehicles, Nikkei said in a report. The carmaker will boost U.S. production of hybrids and shift production of some high-end Lexus models to Japan, according to Nikkei.
• Unilever (UL) said it expects the Magnum-led ice cream unit it is spinning off to see average annual organic sales growth of 3-5% in the medium-term from 2026, the company said ahead of a capital markets day on Tuesday.

• Fluor (FLR) has been awarded a spot on the Defense Threat Reduction Agency’s Cooperative Threat Reduction Integrating Contract IV, giving it a chance to compete for task orders under a program worth up to $3.5B over 10 years.
• Planet Labs (PL) announces $300M convertible senior notes offering.

• Crypto exchange Gemini has secured Nasdaq (NDAQ) as a strategic investor, according to Reuters. Nasdaq will buy $50 million worth of Gemini shares in a private placement at the time of its IPO, the outlet reported. https://tinyurl.com/nhhpz54e
• Invesco Ltd. (IVZ) preliminary month-end assets under management (AUM) of $2,063.6B, an increase of 1.9% versus previous month-end. The firm delivered net long-term inflows of $11.1B in the month. Non-management fee earning net inflows were $1.9B and money market net outflows were $7.4B.

• Dianthus (DNTH) announces $150M common stock offering.
• Novartis (NVS) said it will acquire Tourmaline Bio (TRML) in a $1.4B cash deal, with TRML holders to receive $48 per share, representing a premium of 59% to last close of $30.18. The deal expected to close in Q4, TRML will become an indirect, wholly owned subsidiary of Novartis. https://tinyurl.com/58a89s6n
• Rapport Therapeutics (RAPP) announces $250M common stock offering.

• CoreWeave (CRWV) announced the launch of CoreWeave Ventures, a new initiative committed to backing founders and companies developing the platforms and technologies shaping the AI ecosystem and the next frontier of computing.
• Dell Inc. (DELL) CFO Yvonne McGill to resign as of September 9^th while David Kennedy has been appointed interim CFO; reaffirming its guidance for fiscal 2026 Q3 and full year.
• Fox Corp (FOXA) said on Monday that it has reached a mutual resolution on the legal proceedings related to the Murdoch Family Trust, resulting in the termination of all litigation.
• Yext inc. (YEXT) Q2 adj net income $16.3M vs. est. $15.7M; Q2 $0.13 vs. est. $0.12; Q2 revs rose 16% y/y to $113.1M vs. est. $111.2M; Q2 Direct customers represented 83% of total ARR, totaling $369.5M, an 18% y/y increase on an as-reported basis and an 17% increase on a constant currency basis; Third-party Reseller customers, represented 17% of total ARR, totaling $74.8M, a 1% increase