Tonight’s Highlights | U.S. Stock Index Futures Rise Collectively
On Monday, U.S. stock index futures rose across the board, poised to reclaim some lost ground, while major European indices also posted broad gains.
Last Friday, the Dow Jones Industrial Average plummeted over 500 points, with the S&P 500 and Nasdaq dropping 1.6% and 2.2%, respectively. This marked the S&P 500’s worst performance since May 21 and the Nasdaq’s largest single-day decline since April 21.
Friday’s sell-off was primarily driven by a disappointing July jobs report and the latest tariff policy from U.S. President Trump. Trump signed an executive order on Friday, updating his so-called “reciprocal tariffs,” imposing new tariffs ranging from 10% to 41% on multiple trading partners.
Adam Crisafulli of Vital Knowledge wrote in a report: “The market is rebounding after Friday’s nonfarm payrolls data disappointment, but with investors grappling with stagflation-like economic data (a weak job market paired with relatively hot PCE figures) and an earnings season shifting from a strong start to a mixed bag, market sentiment changed noticeably last week.”
He added: “The bull camp is far from defeated and still controls the market narrative, but restoring confidence will require further positive confirmation.”
The market is also bracing for the traditionally weak month of August. Statistics show August has been the Dow’s worst-performing month on average since 1988 and the second-worst for both the S&P 500 and Nasdaq.
Company News
Tesla: Approves 96 Million Share Award for Musk
A U.S. Securities and Exchange Commission filing submitted by Tesla on August 4 revealed that, as of August 3 local time, Tesla approved a grant of 96 million restricted shares to Elon Musk under its 2019 Equity Incentive Plan. Musk will purchase the awarded shares at $23.34 per share.
The filing indicates that the award vests two years from the grant date, provided Musk remains CEO or an executive overseeing product development or operations. Musk is prohibited from selling, transferring, or disposing of the shares covered by the award for five years from the grant date.
UBS Settles Credit Suisse Mortgage-Backed Securities Case with U.S. DOJ for $300 Million
On August 4, UBS Group announced it has reached a settlement with the U.S. Department of Justice regarding a 2017 case involving Credit Suisse’s investment in residential mortgage-backed securities.
In a statement on Monday, Credit Suisse Securities (USA) said: “On August 1, 2025, Credit Suisse Securities (USA) LLC agreed with the U.S. Department of Justice to pay $300 million to resolve all remaining consumer relief obligations under the 2017 settlement.”
Spotify: To Raise Premium Subscription Fees in Some Markets from September
Music streaming platform Spotify announced on August 4 local time that it will increase monthly premium subscription fees in some markets starting September.
LG Chem to Build South Korea’s First Hydrogenated Vegetable Oil Plant
On August 4, LG-Eni Biorefining, a subsidiary of LG Chem, announced plans to construct a hydrogenated vegetable oil (HVO) plant in Yeosu, South Korea. LG Chem stated that this will be South Korea’s first HVO facility, with an expected completion in 2027 and an annual capacity of 300,000 tons.
Vingroup Plans $14.3 Billion Port and Logistics Hub in Northern Vietnam
On August 4, Vingroup Group, the parent company of Vietnamese electric vehicle maker VinFast, issued a statement announcing plans to invest 3,738.4 trillion VND (approximately $14.3 billion) to build a port and logistics center in the northern Vietnamese city of Haiphong.
Vingroup noted the project will be developed in three phases from 2026 to 2040.