00:08All right, we've got red arrows across the board ahead of Monday's open here on the backs of the
00:14AI fears from over the weekend. S&P futures down 0.69%, Dow futures down 0.38%, and the NASDAQ
00:22leading the way lower down 1.69%. Also worth noting, oil up another 3.18% here today. All of
00:31those
00:32combining for market under pressure ahead of today's open. Now let's take a look at some cues
00:37from last session as well as what we have coming up here. We'll also run down some of the economic
00:43numbers that we're expecting here today. Most S&P sectors ended Friday in negative territory
00:50with communication services, information technology, and consumer discretionary stocks
00:54posting the steepest declines. Utilities and healthcare were the only sectors to buck the
00:59broader market trend, closing the session higher. U.S. stocks look set for a negative open on Monday
01:05with the futures for the Dow Jones, S&P, and NASDAQ composite declining after closing in the green
01:10on Friday. Anthropic CEO Dario Amodei on Sunday expressed significant concerns over China's role
01:17in the global AI landscape while describing the country as the, quote, toughest dilemma, end
01:23quote, in the proposal to decelerate AI progress. Amodei published an essay on Saturday urging AI
01:30companies to slow advancements following warnings from researchers about potential catastrophic risks.
01:37OpenAI CEO Sam Altman expressed his support for Amodei's essay, emphasizing the need to, quote,
01:44pace the frontier, end quote. He said OpenAI has also decided to delay its IPO plans for 2026
01:50due to unresolved safety concerns and alignment challenges. Meanwhile, the 10-year Treasury bond
01:56yielded 4.963% in the 30-year was at 5.35%, while the two-year yields stood at 4
02:02.626%.
02:03The CME Group's Fed watch tool projection show markets pricing in an 88.5% likelihood of the Federal
02:09Reserve hiking the current interest rates during its September meeting. Now, we've got several
02:14stocks in focus here for you today, and none of them should be a surprise. We start here with
02:19NVIDIA, ticker NVDA. It said is to be in talks to invest in Anthropic's upcoming IPO. The chipmaker
02:27is reportedly considering investing up to $10 billion as an anchor investor. NVIDIA shares were down 2.85%
02:35in Monday's pre-market trade. The next stock on our list is going to be Micron Technology. The ticker
02:41is MU, and shares are in focus on Monday after OpenAI and Anthropic called for slowing down the
02:46pace of AI development, and as a result, Micron shares down over 5% in the pre-market. The next
02:53stock on our list is going to be Sandisk, and that also declined by 5.41% in the pre
02:58-market after
02:59said comments from Altman and Amodai and others, like the Tesla CEO Elon Musk, who over the weekend
03:06rattled investors impacting the AI trade ahead of the opening bell. Oracle is the next stock on our
03:12list. That's ticker ORCL. Co-founder Larry Ellison has scrapped a plan to sell up to 50 million shares
03:19of the cloud computing giant. That's worth about $7.5 billion based on the previous closing price of
03:24the company's shares. Oracle shares down another 3.58% in the pre-market. The last stock on our list
03:32is going to be Tesla. The ticker is TSLA, and it is set to unveil the long-awaited Roadster on
03:38October
03:381st, almost a decade after the company first announced the next generation sports car. Tesla shares were down
03:452.12% in the pre-market today.
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