US OPEN: Tech leads gains as investors extend rate cut bets (08.09.2025)

Wall Street opened the week in positive territory, lifted by expectations of a Fed rate cut next week — potentially a 50 bp one — and growing speculation of a more dovish policy path ahead. The Nasdaq (US100: +0.7%) and S&P 500 (US500: +0.25%) are advancing, while the Dow Jones (US30: -0.05%) lags, reflecting caution ahead of the key U.S. CPI release.

Volatility of US-listed stocks. Techs prevail as the strongest performers today, while Healthcare, Pharma, Financials and Industrials are seeing a mixed-to-negative sentiment. Source: xStation

US500 (D1)

S&P 500 futures are rebounding 0.25% after testing the 10-day exponential moving average (EMA10; yellow), with price action gradually tightening within its ascending channel. The index has yet to fully recover from the post-NFP selloff, though sentiment remains supported by a broader global equity rally ahead of key political events, including the French PM’s confidence vote, and the upcoming U.S. CPI release on Thursday. The RSI is nearing overbought territory, but history suggests the U.S. equity rally is unlikely to reverse without a materially negative macroeconomic signal that points to a slowdown capable of significantly pressuring corporate earnings. From a technical point of view, the uptrend should be safe as long as the price holds above the key support of 6450.

Source: xStation5

Company news:

• AppLovin (APP.US), Robinhood Markets (HOOD.US) and Emcor Group Inc. (EME.US) are all posting gains after S&P Dow Jones Indices said the stocks would be added to the S&P 500 Index.

• Dianthus Therapeutics (DNTH.US) adds 3% after its Phase 2 trial showed claseprubart delivered rapid, statistically significant improvements in generalized Myasthenia Gravis patients, with efficacy seen as early as Week 1. Both 300mg and 600mg doses performed well, with favorable safety, supporting plans for a Phase 3 trial starting in 2026

• EchoStar shares soar 17% after the announcement that SpaceX will buy company’s AWS-4 and H-block spectrum licenses for about $17 billion, paying up to $8.5 billion in cash, the same in stock, and covering $2 billion in EchoStar debt interest through 2027. The deal resolves FCC probes, helps EchoStar cut its $25B debt, and strengthens SpaceX’s push into direct-to-device mobile services, complementing its Starlink network.

• Ideaya Biosciences (IDYA.US) drops 4% despite the report that early Phase 1 data showed its lung cancer drug IDE849, co-developed with Hengrui Pharma, delivered a 74% overall response rate and 58% confirmed rate across treatment settings, with 6.7 months median PFS. RBC said results suggest “best-in-class potential.”

• Qualcomm and Google Cloud are teaming up to bring multimodal AI agents to vehicles, combining Google’s Gemini-powered Automotive AI Agent with Qualcomm’s Snapdragon Digital Chassis. The partnership blends on-device and cloud inference for faster, more personalized experiences, offering automakers a toolkit and reference architecture to accelerate development of software-defined cars.