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NVDA Faces China Anticompetition Investigations
Tom White
September 15, 2025
U.S. stock futures are slightly higher ahead of the Wall Street open with investors bracing for a crucial Federal Reserve meeting this week.
Tech is lagging this morning with Nvidia (NVDA) down over 1% after China's State Administration for Market Regulation said its preliminary investigations found Nvidia violated the country's anticompetition law.
The moves come after another solid week of gains for stocks with the Nasdaq-100 (NDX) settling at another record Friday and the S&P 500 (SPX) and Dow Industrial Index ($DJI) just below records.
In focus is Wednesday’s Fed announcement on interest rates with markets expecting a 25 basis point cut.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 0.4% near $63 a barrel as investors assessed the impact of Ukrainian drone attacks on Russian refineries that could disrupt its crude and fuel exports, while also eyeing U.S. fuel-demand growth.
Gold (/GC) – Gold prices are slightly lower near $3680, pressured by profit-taking, though losses were limited as investors looked ahead to a U.S. Federal Reserve meeting, where a rate cut is expected following a series of weak labor market reports.
Bitcoin (/BTC) – The Crypto Future is down over 1.5% near 115,500 in premarket trading.
VIX – The CBOE Volatility Index was up a minimal 0.03% on Friday and settled at 14.76 as stocks were mixed.
U.S. Dollar (/DX) – The dollar is down 0.2% to 97.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
TSLA | Tesla | +8.44% |
SW | Smurfit Westrock | +3.75% |
ALB | Albemarle | +1.61% |
ADI | Analog Devices | -2.53% |
TXN | Texas Instruments | -2.52% |
ON | On Semiconductor | -1.78% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | Empire State Mfg. Index |
11:30AM ET | 3-Month Bill Auction 6-Month Bill Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
HAIN | PLAY | FERG | None |
Upgrades/Downgrades
Citi upgrades Union Pacific (UNP) to Buy from Neutral
Melius Research upgrades GE Vernova (GEV) to Buy from Hold
Melius Research upgrades Eaton (ETN) to Buy from Hold
Wedbush downgrades Builders FirstSource (BLDR) to Neutral from Outperform
Rothschild & Co. Redburn downgrades Under Armour (UAA) to Neutral from Buy
Evercore downgrades Simon Property (SPG) to In Line from Outperform
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