Futures Rise As Global Debasement Trade Sends Gold Over $4000

Market Overview - Futures are higher, with S&P 500 futures up 0.1% and Nasdaq 100 contracts up 0.2%, marking the 8th gain in the past 9 days, driven by small caps and tech investments [1] - Gold prices have surpassed $4,000 per ounce for the first time, with silver also rising above $49, indicating a shift towards hard currencies amid concerns over fiat currency debasement [1][13] - The dollar has gained for three consecutive days against major peers, now 2.5% off its 52-week low [1] Corporate News - Salesforce has refused to pay a ransom demanded by hackers who claimed to have stolen client data [4] - AST SpaceMobile shares rose 9% after announcing a partnership with Verizon for direct-to-cellular service starting in 2026 [4] - CervoMed shares soared 16% following positive Phase 2b trial results for its dementia treatment [4] - Confluent gained 17% as it explores a potential sale after acquisition interest [4] - Joby Aviation shares fell 10% after announcing a $500 million share offering [4] Technology Sector - The "Magnificent 7" stocks showed mixed performance in premarket trading, with Tesla up 0.3% and Nvidia up 0.6%, while Meta Platforms, Alphabet, and Apple saw slight declines [3] - Concerns are growing regarding the sustainability of the AI-driven market rally, with some investors drawing parallels to the dot-com bubble [6][10] - Goldman Sachs suggests it is too early to worry about a bubble in the tech sector, citing robust earnings growth accompanying the rally [10] Economic Indicators - The upcoming FOMC minutes release is anticipated to provide insights into monetary policy amid the ongoing government shutdown [1][20] - Treasury yields dipped, reflecting cautious investor sentiment amid economic uncertainties [1][45] European Market Dynamics - Europe's Stoxx 600 benchmark rose 0.6%, with the basic resources sector leading gains [15] - The French CAC 40 outperformed regional peers, buoyed by optimism regarding government formation talks [15][16] - BMW shares fell 7.4% after cutting its financial guidance due to weak sales in China [21] Asian Market Movements - Asian stocks declined, particularly in technology shares, with the MSCI Asia Pacific Index falling 0.8% [17] - The Reserve Bank of New Zealand cut interest rates by 50 basis points, leading to a depreciation of the New Zealand dollar [25][49]