【US Pre-Market】US Stock Futures Rise Across the Board Ahead of Imminent Fed Decision; Intel Gains Nearly 3%, Nokia Jumps More Than 6%

TradingKey - On Wednesday (September 16) Eastern Time, futures on the three major US stock indexes rose in unison pre-market. As the countdown to the Federal Reserve's rate decision begins, US stock and bond markets saw a slight recovery, while international oil prices, which had previously been strengthening, temporarily lost upward momentum as investors await the rate decision and the latest policy guidance.

As of press time, Nasdaq 100 futures rose 0.49%, S&P 500 futures gained 0.28%, and Dow Jones 30 futures climbed 0.31%.

Source: Investing

In commodities, gold (XAUUSD) rose to just below $4,350/oz, while silver (XAGUSD) approached $65/oz. Ahead of the Fed decision, US Treasury yields pulled back temporarily, lending support to precious metal prices.

International oil prices fluctuated at high levels, with WTI crude futures (USOIL-F) rising to around $103/barrel, while Brent crude futures (UKOIL-F) hovered near $107/barrel. A US industry report showed an increase in crude inventories, temporarily limiting further upside for oil prices. However, high oil prices remain an important variable in the current inflation outlook.

In cryptocurrencies, Bitcoin (BTCUSD) hovered near $75,800. The market remained cautious ahead of the Fed's rate decision, with crypto assets overall seeing limited volatility.

Market Action

Intel and SK Hynix rose in pre-market trading before narrowing their gains. Reports indicated that SK Hynix (SKHY) is in talks with Intel (INTC) to produce memory chips in the U.S. Intel once jumped about 5% in pre-market trading, while SK Hynix once gained about 3%.

Since then, gains for both companies narrowed to under 3%, with Intel most recently up about 2.8%. SK Hynix responded that the company has not confirmed any relevant production plans mentioned in the report.

Nokia (NOK) rose over 6% in pre-market trading. Nokia Defense, the company's defense business unit, signed a memorandum of understanding with C3IA, a U.K. systems engineering and security services provider. The two parties will combine advanced communications technology with defense systems integration capabilities to jointly support the digital transformation of the U.K. defense sector. The agreement was reached during the U.K. Defence Vehicle Dynamics 2026 exhibition.

Optical communications stocks generally rose in pre-market trading. AXT (AXTI), Applied Optoelectronics (AAOI), Coherent (COHR), Lumentum (LITE), and Astera Labs (ALAB) rose over 2%, while Marvell Technology (MRVL) and Corning (GLW) rose over 1%.

Memory chip stocks strengthened slightly in pre-market trading. SK Hynix rose nearly 3%, Western Digital (WDC) and Seagate Technology (STX) rose over 1%, SanDisk (SNDK) gained about 0.7%, and Micron Technology (MU) rose about 0.6%.

Tempest Therapeutics (TPST) surged nearly 50% in pre-market trading. The company signed an exclusive option agreement with China's Hebei Senlang Biotechnology, obtaining option rights to license a clinical-stage in vivo CAR-T technology and related drug candidates.

The technology allows CAR-T cancer therapies to be delivered directly inside the patient's body. The product portfolio includes an early-stage drug targeting two multiple myeloma-associated proteins, currently undergoing Phase I clinical trials, while other drug candidates target hematological malignancies and autoimmune diseases.

Dell Technologies (DELL) rose nearly 3% in pre-market trading. CEO Michael Dell stated that the AI boom is driving up prices for computing equipment and personal computers, and that a "structural shortage" of chips could worsen in 2027.

J.B. Hunt Transport Services (JBHT) fell as much as about 9% in pre-market trading. The company issued a rare intra-quarter profit warning at an industry conference hosted by Morgan Stanley, expecting third-quarter profit to decline 5% to 10% from the second quarter, primarily due to persistent cost pressures. Although management remains optimistic about freight demand recovery and industry fundamentals, proactively providing a profit decline range heightened investor concerns over the company's short-term profit margins.

Market News

SK Hynix reaches a salary and bonus agreement with its union. SK Hynix stated that approximately 57% of union members approved the revised wage and collective bargaining agreement, eliminating the risk of potential production disruptions.

Under the new agreement, 50% of the profit-sharing bonus will be paid in cash and the remaining 50% in company stock, replacing the previously proposed plan of 40% cash and 60% stock.

Anthropic signs its first data center lease in Australia. Anthropic has reportedly signed an agreement with Singapore-based data center developer Zerra DC to lease data center capacity in Australia. Located in Queensland, about 250 kilometers from Brisbane, the project has a planned total capacity of 2.16 GW and is expected to begin phased operations starting in 2027.

Mark Zuckerberg publicly opposes "AI deceleration." Meta (META) CEO Mark Zuckerberg stated that AI labs should strengthen model safety through independent evaluation agencies and external consultants, rather than slowing down AI development through industry coordination. Zuckerberg believes market competition and legal liability are sufficient to drive AI companies to prioritize safety, while expanding the independent evaluation ecosystem helps identify model risks. Meta had also previously postponed the release of Muse AI due to safety concerns.

OpenAI opens preliminary talks for a new funding round. According to people familiar with the matter, OpenAI has held talks with investors for a new funding round, which could value the company at $1.2 trillion or higher post-transaction. Meanwhile, the company has delayed its original IPO plans to next year or later.

OpenAI announced in March this year that it completed its previous funding round, raising $122 billion, with a post-money valuation of approximately $852 billion. The potential new round is driven by unsolicited interest from some investors and remains in the preliminary discussion stage.

Intel CEO warns memory shortages could continue to worsen. Intel CEO Lip-Bu Tan stated that memory has become a major bottleneck in the semiconductor industry, with supply tightness potentially intensifying further, while power supply and cooling technology will also become key challenges the industry must solve. Lip-Bu Tan noted that prices for certain memory products have surged to five to seven times their original levels, with limited capacity causing delays across multiple projects. Securing memory supply is particularly difficult for low- to mid-range smartphone and laptop manufacturers.

Key Data and Events Preview

At 8:30 a.m. ET, the U.S. releases the August export price index month-over-month rate.

At 2:00 p.m. ET, the Federal Reserve announces its interest rate decision and latest economic projections.

At 2:30 p.m. ET, the Federal Reserve Chair holds a press conference.