Pre-market news summary for US stocks

① U.S. stock index futures all rose: Dow futures rose 0.53%, S&P 500 futures rose 0.74%, and Nasdaq futures rose 0.97%.

② European stock market indices were mixed: Germany's DAX30 rose 0.02%, France's CAC40 surged 2.37%, Europe's Stoxx 50 fell 0.33%, and the UK's FTSE 100 fell 0.34%.

③ Morgan Stanley stated that the artificial intelligence investment cycle has just begun, expecting global related spending to approach $3 trillion by 2028. The report noted that hyperscale cloud providers are the main drivers. It is estimated that AI software revenue could reach $1.1 trillion by 2028, indicating considerable potential for capital returns. Additionally, U.S. Treasury Secretary Janet Yellen mentioned that artificial intelligence will have a positive effect on productivity starting in Q1 or Q2 of 2026.

④ Swedish telecom giant Ericsson announced on Wednesday that it has signed a strategic cooperation agreement worth $3 billion with the Canadian Trade Commissioner Service to accelerate the research and development of key technologies such as artificial intelligence and mobile networks.

⑤ The global electric vehicle downturn is spreading, with the U.S., Europe, and Canada all slowing down their promotion targets. Canadian Prime Minister Justin Trudeau announced a pause on the mandatory electric vehicle sales order originally set to take effect next year; UK Prime Minister Keir Starmer relaxed the timeline for electric vehicle penetration targets; the EU, under pressure from automakers, has initiated the evaluation process for the 2035 "ban on combustion engines" a year early.

⑥ ASML's pre-market stock price rose over 4% after announcing Q3 orders reached €5.4 billion, exceeding the expected €4.9 billion, with EUV lithography machine orders hitting a nearly seven-quarter high. The company expects sales in 2026 to be no less than in 2025 and reiterated its revenue target of €60 billion by 2030.

⑦ TSMC's U.S. stock pre-market rose over 4.5%, opening on track to set a historical high; the market expects Q3 net profit to grow 26% year-on-year, setting a new record.

⑧ Bank of America rose over 5% in pre-market trading. The company's Q3 performance exceeded expectations, with investment banking revenue soaring 43% to $2.05 billion, driven by a rebound in merger and acquisition activities, where advisory fees grew 51% to $583 million, and underwriting revenue for stocks and bonds increased by 34% and 42%, respectively.

⑨ U.S. gold stocks rose broadly in pre-market trading, with Harmony Gold up nearly 5%, Kinross Gold up 4.5%, Coeur Mining up nearly 4%, and Pan American Silver and Kinross Gold both up over 2%