Pre-market US Stock News Overview: US Memory Chip Stocks Plunge Premarket, SanDisk Drops 10%, Waller Ready to Raise Rates

2026-08-06 12:50

Odaily News: Ahead of the US market open, here are the key financial news investors need to watch:

1. US stock index futures are mixed. Dow Jones futures are up 0.25%, S&P 500 futures are up 0.16%, and Nasdaq 100 futures are down 0.56%.

2. International oil prices are collectively rising. WTI crude oil futures are up 1.48% to $76.332 per barrel; Brent crude oil futures are up 1.62% to $80.739 per barrel.

3. International spot gold and silver are mixed. Spot gold is up 0.56% to $4,270.51 per ounce; spot silver is down 0.56% to $61.67 per ounce.

4. Europe's three major stock indices are slightly higher. The UK FTSE 100 is up 0.17%, France's CAC40 is up 0.69%, and Germany's DAX30 is up 0.21%.

5. US memory chip stocks are plunging premarket. SanDisk is down 10% after providing next fiscal quarter revenue guidance of $10.3 billion to $10.8 billion, missing market expectations. Western Digital is down 15%, SK Hynix is down nearly 7%, and Micron Technology is down over 4%.

6. SanDisk announced during its earnings call that it has reached long-term NBM agreements with 8 customers spanning data centers and edge computing sectors, with remaining performance obligations of $91.1 billion. It expects NBM agreement bit supply to account for more than 50% of total shipments in fiscal year 2027.

7. TSMC is reportedly ramping up 2nm production capacity to meet demand for Apple's A20 Pro processor. However, due to DRAM shortages, it has accumulated $1 billion worth of Apple processors that must wait for DRAM delivery before final packaging can be completed.

8. Musk stated that one of the biggest bottlenecks in the AI boom is memory. Storage supply grows about 20% annually, but demand growth is as high as 200% or even higher, creating a severe supply-demand imbalance.

9. Google parent company Alphabet has launched a 10-part USD investment-grade bond issuance with maturities ranging from 2 to 40 years, aiming to raise up to $25 billion.

10. The Democratic Republic of Congo has banned the export of copper concentrate and cobalt concentrate. As a result, LME copper futures are up 0.63% to $14,238.0 per ton; COMEX copper futures are up 0.92% to 6.7895 cents per pound.

11. According to sources familiar with the matter, if inflation data released in the coming weeks comes in hot and the market further raises expectations for rate hikes, Fed Chair Waller is prepared to raise interest rates.