U.S. premarket trading on July 13 featured a mix of banking, geopolitics, commodities and crypto-related updates, according to BlockBeats. JPMorgan, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are set to report second-quarter results on Tuesday, with Morgan Stanley due on Wednesday. Market expectations point to strong gains in investment banking and trading revenue at major U.S. banks, driven by the SpaceX IPO, warmer M&A activity and volatility tied to the situation in Iran.
In stocks, SK Hynix ADRs traded at a 23.4% premium to the company’s South Korea-listed shares. Semiconductor equipment and memory names moved lower in premarket trading, with KLAC down 3.7%, while SanDisk and Western Digital both fell more than 5%.
Commodities were mixed. Spot gold and silver both declined, with gold down 1.32% and silver off 2.23%. Oil prices moved higher, with U.S. crude up 3.35% and Brent crude up 3.53%.
Crypto-linked items also drew attention. Strategy did not add to its Bitcoin holdings last week and raised $467 million by selling 4.82 million shares. Bitmine increased its ETH holdings by 27,801 last week, bringing total staked ETH to 4.917 million, with estimated annualized staking income of $242 million.
Key U.S. premarket headlines on July 13 centered on upcoming bank earnings, weakness in semiconductor-related names and fresh crypto treasury updates, according to BlockBeats.
JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are scheduled to release second-quarter results on Tuesday. Morgan Stanley is set to report on Wednesday. Market expectations call for a sharp increase in investment banking and trading revenue at large U.S. banks, supported by the SpaceX IPO, improving M&A activity and market volatility linked to the situation in Iran.
Premarket moves and commodities
Trump said Iran always tears up agreements, so it should be hit hard. He also said the United States will control the strait and may very likely dominate it in the future.
SK Hynix ADRs were trading at a 23.4% premium to the company’s South Korea-listed shares.
Semiconductor equipment and memory stocks fell across the board in premarket trading. KLAC lost 3.7%, while SanDisk and Western Digital each dropped more than 5%.
In commodities, spot gold and silver both moved lower. Gold fell 1.32% and silver dropped 2.23%. Oil prices rose, with U.S. crude up 3.35% and Brent crude up 3.53%.
Crypto-related updates
Strategy did not increase its Bitcoin holdings last week and raised $467 million by selling 4.82 million shares.
Bitmine added 27,801 ETH last week, bringing its total staked ETH to 4.917 million. Its estimated annualized staking income stands at $242 million.
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