NextFin News -
1) Pre-Market Performance
U.S. equity futures pointed lower, with the pullback concentrated across all three major contracts as oil-price volatility and rate-sensitive positioning weighed on risk appetite.
- Nasdaq 100 futures: 29,429.3, down 62.5 points, or 0.21%.
- S&P 500 futures: 7,702.3, down 19.75 points, or 0.26%.
- Dow Jones futures: 53,465.0, down 119.0 points, or 0.22%.
European markets were mixed. The FTSE 100 rose 31.72 points, or 0.29%, to 10,824.26; France's CAC 40 gained 14.10 points, or 0.17%, to 8,415.28; Germany's DAX fell 177.26 points, or 0.67%, to 26,392.73.
In commodities and FX, energy led the move: Brent crude futures traded around $91.21, up 5.91%, while WTI crude futures were near $86.60, up 3.84%. Gold futures slipped to about $4,506.51, down 0.52%; silver futures edged up 0.24% to $67.95. The U.S. Dollar Index eased 0.19% to 99.47, while natural gas futures rose 1.07% to $2.919.
2) Hot News
- U.S. futures soften as Middle East escalation lifts inflation concern
Wall Street futures traded lower as renewed U.S.-Iran military action drove a sharp move higher in crude oil. The move sharpened concerns that energy-led inflation pressure could complicate the interest-rate outlook. - Bond-market pressure remains a key cross-asset drag
Global equities were cautious as borrowing costs in major developed markets stayed elevated. Higher yields continued to pressure long-duration growth shares and added to volatility across equity futures. - Gold weakens despite geopolitical risk
Gold futures traded lower as higher-rate expectations outweighed safe-haven demand. The metal remained under pressure after a sharp pullback late last week, with investors focused on real yields and the dollar's broader trend. - AI infrastructure spending remains a market theme
Fresh AI infrastructure announcements underscored that capital spending on GPUs, networking equipment and data-center buildouts remains a major equity-market driver. Investors continued to distinguish between companies with visible AI infrastructure revenue and those facing higher financing or valuation risk.
3) U.S. Stock Focus
- Eli Lilly — to acquire Merida Biosciences
Eli Lilly announced a definitive agreement to acquire Merida Biosciences, a biotechnology company developing precision therapeutics for autoimmune and allergic diseases. Merida's lead program, MER511, is in Phase 1 development for Graves' disease and thyroid eye disease, with Lilly highlighting the platform's potential to remove disease-causing antibodies while preserving normal immune function. - Aon — $17.0 billion deal to acquire USI
Aon signed a definitive agreement to acquire USI from KKR and other shareholders for a total purchase price of $17.0 billion. The company said the deal expands its U.S. middle-market insurance platform, adds scale in excess and surplus lines, and is expected to be accretive to adjusted EPS in 2028. - ONEOK — acquiring Brazos Midstream assets for $4.425 billion
ONEOK announced a definitive agreement to buy Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash. The company said the acquisition is expected to be immediately accretive to earnings and free cash flow per share, while expanding its Permian platform. - Apollo Global Management — backing ONEOK with $9 billion minority investment
Apollo funds and affiliates agreed to provide a $9 billion nonvoting minority equity investment tied to ONEOK's Brazos transaction and debt-reduction plan. ONEOK said it intends to use $5 billion of proceeds to reduce existing indebtedness, targeting debt-to-EBITDA of 3.25x. - RedHill Biopharma — divests Talicia to Apotex
RedHill Biopharma announced the divestment of its Talicia business to a subsidiary of Apotex Health for $18 million upfront plus up to $35 million in potential worldwide net sales milestones. RedHill said the transaction strengthens liquidity and supports its commercial business repositioning. - Energy Fuels — completes Australian Strategic Materials acquisition
Energy Fuels completed its acquisition of Australian Strategic Materials, adding rare-earth metals and alloy capabilities to its mine-to-magnet strategy. The company said the deal brings 1,300 tonnes per year of existing neodymium-iron-boron alloy production capacity at ASM's Korean Metals Plant. - Agnico Eagle Mines — increases Canada Nickel investment
Agnico Eagle said its wholly owned subsidiary Avenir Minerals acquired 666,667 Canada Nickel units at C$1.50 per unit, for total consideration of about C$1.0 million. After the private placement, Avenir and Agnico Eagle controlled approximately 8.68% of Canada Nickel's issued shares on a non-diluted basis. - Miniso — ADRs fall after earnings disappointment
Miniso shares fell in pre-market trading after the retailer's second-quarter results missed expectations. The company reported EPS of -0.94 yuan versus expectations for +1.95 yuan, while revenue of 5.75 billion yuan missed the 5.81 billion yuan consensus estimate. - Tenax Therapeutics — gains after Phase 3 LEVEL trial data
Tenax Therapeutics rose in pre-market trading after presenting additional data from its Phase 3 LEVEL trial of TNX-103, or oral levosimendan. The update showed a favorable treatment effect among patients with lower baseline exercise capacity, potentially supporting the drug's regulatory case in pulmonary hypertension associated with heart failure with preserved ejection fraction. - Pinterest — CFO resignation weighs on shares
Pinterest shares declined pre-market after Chief Financial Officer Julia Brau Donnelly resigned to pursue another opportunity. The company said Donnelly will remain until October 30 to support the transition and that her departure was not tied to a disagreement over operations, policies, practices or accounting matters.
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