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AVGO Earnings Lead Tech Higher Ahead of Aug. Jobs Report
Tom White
September 05, 2025
U.S. stock futures are modestly higher in premarket trading after the S&P 500 settled at another record high.
The market moves come despite weaker-than-expected ADP private payrolls report ahead of today’s key August Jobs report. Economists forecast nonfarm payrolls to have expanded by 73,000 in August with the unemployment rate ticking up to 4.3% from 4.2%.
Tech is leading gains this morning after Broadcom (AVGO) beat earnings estimates, provided a positive outlook and revealed $10B in sales next year from a fourth major AI customer.
Morning Movers
Snapshot (as of 7AM ET)
Oil (/CL) – Oil prices are down about 0.6% near $63 a barrel near a two-week low on a surprise build in U.S. crude inventories last week and expectations that OPEC+ producers will increase output targets at a meeting this weekend.
Gold (/GC) – Gold prices are relatively flat near $3610, with spotlight now shifting to the U.S. payrolls report for fresh cues on Federal Reserve’s policy path.
Bitcoin (/BTC) – The Crypto Future is up over 2% near $112,700 in premarket trading.
VIX – The CBOE Volatility Index was down 6% on Thursday and settled at 15.30 as stocks were higher.
U.S. Dollar (/DX) – The dollar is down 0.3% to 98.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7AM ET) |
|---|---|---|
AVGO | Broadcom | +10.83% |
ALB | Albemarle | +3.57% |
TSLA | Tesla | +1.91% |
LULU | Lululemon | -19.16% |
FAST | Fastenal | -2.55% |
CPRT | Copart | -1.54% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | August Jobs Report |
1:00PM ET | Baker-Hughes Rig Count |
Notable Earnings
Premarket | Postmarket | Premarket Monday | Postmarket Monday |
|---|---|---|---|
ABM | None | PL | CASY |
Upgrades/Downgrades
UBS upgrades ASML (ASML) to Buy from Neutral
Citi upgrades State Street (STT) to Buy from Neutral
Baird upgrades Duluth Holdings (DLTH) to Outperform from Neutral
Stifel downgrades Lululemon (LULU) to Hold from Buy, one of several downgrades for the stock this morning
UBS downgrades J.B. Hunt (JBHT) to Neutral from Buy
B. Riley downgrades Ciena (CIEN) to Neutral from Buy
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