US indices opened slightly higher, trading in a range of 0.25% to 0.35%. However, investors remain cautious in their buying decisions ahead of today's Fed decision. The escalation of the war in the Middle East is also contributing to increased risk aversion.
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The main index, US500, initially opened lower. However, the first candle was quickly erased and prices returned to positive territory. At the time of publication, the US500 index was up 0.30% at 6,000 points. Gains ahead of Fed Chairman Jerome Powell's press conference may indicate that the market is expecting a more dovish tone. Any movement in today's session is likely to be short-lived, as everything will depend on the Fed's decision later today.
Source: xStation 5
Company News
Meta Platforms (META.US) is aggressively recruiting for its AI “superintelligence” unit, and is reportedly offering OpenAI staff bonuses of up to $100 million, highlighting the intensifying competition for top AI talent.
Marvell Technology (MRVL) rose 9% after announcing AI chip wins with hyperscalers and Meta. Evercore and Bank of America hailed the “multi-billion-dollar” potential; Morgan Stanley highlighted a $94 billion TAM and sees the stock joining the “camp of AI winners”.
Gogo (GOGO.US) climbed 10.90% after making its first in-flight 5G call with GCT's chip. With FAA approval, a network of 170 towers and over 300 aircraft provisioned, William Blair reiterated its Outperform rating.
Embraer (ERJ.US) gained 4.30% after securing a $3.6 billion order for 60 E175 jets from SkyWest, including 50 as options. Citi called it a major victory that reinforces Embraer's dominance in the regional jet market.
UBS (UBS.US) plunged 2.50% after Morgan Stanley downgraded it to “Underweight”, citing $24 billion in potential new capital requirements, lowered buyback expectations, and lowered earnings estimates.
Biomea Fusion (BMEA.US) plunged 30% after pricing a $40 million share offering at $2 per unit, raising dilution concerns. The offer comprises 19.45 million shares and warrants, with an option for a further 3 million shares.
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