SpaceX drops 1.4% in pre-market trading; reportedly seeking 40 billions in financing to purchase Nvidia chips

Energy and commodities analyst Blas: The Iranian Revolutionary Guard stated it will "soon" block the "illegal" passage of the Strait of Hormuz. In fact, this is the first time the Iranian Revolutionary Guard has publicly admitted that the waterway is no longer closed.

On Wednesday, the US dollar and Treasury yields climbed again, putting pressure on gold prices. The US Dollar Index is currently around 102.30, hovering near its highest level since April 2025. Meanwhile, the US 10-year Treasury yield rose to about 5.324%, close to Monday’s peak of 5.349%, the highest level since 2002. The Middle East conflict has pushed up oil prices and exacerbated inflation risks. Rising government debt and fiscal deficits, combined with the resilience of the US economy, have all contributed to higher financing costs. Traders will closely watch the Federal Open Market Committee meeting minutes for the latest clues on whether the Federal Reserve might further tighten policy. Since the Middle East conflict erupted at the end of February, expectations for a hawkish Fed policy outlook have continued to suppress gold prices, which are now down over 25% from the historical high of nearly $5,600 in January. Nevertheless, long-term demand still provides fundamental support for gold.

Yorkville Ives initiated coverage on Oracle (ORCL.US) with a Neutral rating and set a target price of $155.

October 7 - Shares of food and animal safety solutions company Neogen (NEOG.O) rose 11.5% in pre-market trading to $13.30. The company reported (link) adjusted earnings per share of 8 cents for the first quarter, outperforming analysts' expectations of a 7-cent loss per share, according to data compiled by LSEG. The profit growth was attributed to increased EBITDA and lower interest and income tax expenses. The company expects fiscal 2027 revenues to be between $885 million and $890 million, above the expected $883.2 million. Of five brokerages, three rated the stock as “Buy” or higher, and two as “Hold”, with a median target price of $14. As of the previous trading day's close, the stock has risen 71.1% so far this year. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be incorrect or lack required context, Reuters does not guarantee the accuracy of such translations, which are provided for reader convenience only. Reuters accepts no liability for any harm or loss arising from use of automated translation.)