Morning Preview: September 14, 2026

Early Look

Monday, September 14, 2026

U.S. stock futures are lower as oil prices surge further with Brent crude up around 3% to $107.65 per barrel after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz, while technology stocks are broadly under pressure amid weakness in semiconductor chip and Ai related stocks after prominent AI executives called for a slower pace of frontier AI development amid concerns over potential risks to humanity. Anthropic CEO Dario Amodei said AI model progress should be slowed, with OpenAI CEO Sam Altman agreeing that the industry needs to “pace the frontier,” while Elon Musk also backed Amodei’s view. The selling spread across the AI and semiconductor complex. The commentary has technology stocks down across the board with chips (NVDA, AMD, AVGO, TSM), optical (LITE, AAOI, CIEN, COHR), data centers/Neo clouds (NBIS, CRWV, IREN, HUT, CIFR, WULF) and power plays (BE, VST, TLN, SMR) all lower. In Asian markets, The Nikkei Index fell -518 points to 63,492, the Shanghai Index dipped -2 points to 3,885, and the Hang Seng Index rose 111 points to 24,917. The South Korea Kospi falls -3.6% to 1,050. In Europe, the German DAX is down -128 points to 25,440, while the FTSE 100 rises 75 points to 10,726. Last week was dominated by U.S. inflation data as both CPI and PPI showed no sign of sliding, raising expectations the Fed could raise rates this Wednesday. The FOMC policy meeting is this week’s key event. The other top stories were oil as WTI crude jumped another 8% and U.S. Treasury yields surging with the 10-year yield almost reaching 5% before the Federal Reserve meeting. The 2-year yield rose 26.3 bps this week to 4.642%. The 10-year yield rose 19.1 bps to 4.974%, hitting its highest yield since October 2023 this Friday. The 30-year yield rose 10.8 bps for the week to 5.354%.

• The Dow Jones Industrial Average rose 509.19 points, or 0.98%, to 52,753.29
• The Nasdaq Composite jumped 251.31 points, or 0.96%, to 26,333.04
• The Russell 2000 Index advanced 13.00 points, or 0.45% to 2,903.94

• Earnings After the Close: HYFT KMTS PLAY RLGT

• H.C. Wainwright & Co., LLC 28th Annual Global Investment Conference, 9/14-9/16, in New York
• Morgan Stanley 24th Annual Global Healthcare Conference, 9/14-9/16 in New York, NY
• Piper 5th Annual Growth Frontiers Conference, 9/14-9/15 in Nashville
• China Retail Sales, Industrial Output, Houe Prices data

• President Donald Trump however dismissed mounting warnings about artificial intelligence, arguing that slowing development could jeopardize the United States’ lead over China, Bloomberg News reported. “We’re leading China in AI. We’re the most sophisticated country in the world, and frankly, I want to keep it that way because whoever wins AI wins,” Trump told reporters Sunday at the Irish Open. “And we can put guardrails. We can do this and that. But I think you have a lot of negative forces that are bringing it up that shouldn’t be bringing it up.”
• The European Union said it is in favour of developing innovation in artificial intelligence, but companies have to prove their services are safe for citizens to operate in the bloc, EU Commission spokesperson Thomas Regnier said on Monday.

• Stellantis (STLA) was downgraded to Underweight from Equal Weight at Morgan Stanley and cut tgt to $5.20 from $8 saying the product pipeline is lagging behind peers, implying limited capacity to reduce investments to adapt to lower cash generation.
• Tesla (TSLA) has reclaimed more than half of the U.S. electric-vehicle market as traditional automakers scale back their money-losing EV operations. Tesla captured 52% of U.S. EV sales through August, up from 43% a year earlier, The Wall Street Journal reported. The gain reflects Tesla’s (TSLA) relative resilience rather than a return to growth. Its domestic sales fell 16% to 325,351 vehicles while the overall EV market contracted 30%.

• Franco-Nevada (FNV) has agreed to provide an additional A$200M to Minerals 260 to support development of the Bullabulling Gold Project in Western Australia. The package includes A$170M for an additional 1.45% gross royalty, taking Franco-Nevada’s total royalty interest in Bullabulling to 3.90%
• Venture Global (VG) and China Gas have signed a new 20-year sales and purchase agreement under which China Gas will purchase 0.5M tonnes per annum of U.S. liquefied natural gas from Venture Global starting in 2030.
• ZIM Integrated (ZIM) upgraded to Equal Weight from Underweight at Barclays

• WisdomTree (WT) reported monthly metrics for August 2026 showing record assets under management of approximately $174 billion globally and more than $12 billion of net inflows year-to-date. Total AUM at the end of August was approximately $173.7 billion up from $163B at the start of the month with an average total AUM of $170.969B for the month.
• In crypto sector, the Senate is set to hold a key procedural vote Tuesday on the Clarity Act, which would establish a new regulatory framework for cryptocurrencies and other digital assets. The measure needs Democratic support to overcome a filibuster, with ethics restrictions involving President Donald Trump’s crypto interests among the major sticking points.

• BioNTech (BNTX) said its experimental drug gotistobart nearly doubled the median survival of patients with an aggressive form of lung cancer compared to chemotherapy. Patients treated with gotistobart lived for a median 18.5 months, compared with 10 months for those given the standard-of-care chemotherapy, BioNTech said in a release.
• Cellectis (CLLS) to advance two lead in vivo programs .HEAL-101 and .HEAL-201 in severe dyslipidemias with preliminary Phase 1 data planned in H2 2027 and H1 2028, respectively. Transformation supported by continuing existing cell therapy partnerships while exiting lasme-cel and eti-cel development.
• GSK Plc (GSK) shares rose after the company reported that its investigational lung cancer therapy Jideytro met its primary endpoint, demonstrating complete or partial tumor shrinkage in 94% of trial participants. In a separate late-stage study, GSK announced that Ris-Rez, a small cell lung cancer drug licensed from Hansoh Pharmaceuticals, reduced the risk of death by 54% compared to standard chemotherapy in patients with relapsed disease.
• Scholar Rock Holding (SRRK) said late Friday the FDA approved isembyld, the company’s treatment for spinal muscular atrophy. Isembyld was approved for adults and children ages 2 and older who are already receiving a treatment targeting survival motor neuron 2, or SMN2.
• Summit Therapeutics (SMMT) said ivonescimab significantly extended survival compared with Merck’s (MRK) Keytruda in a late-stage lung cancer trial conducted by its partner Akeso in China. Ivonescimab reduced the risk of death by 27% compared with Keytruda among previously untreated patients with advanced non-small cell lung cancer whose tumors expressed PD-L1. Median overall survival reached 30.8 months for patients receiving ivonescimab, compared with 22.6 months for the Keytruda group.

• HPE Inc. (HPE) downgraded to In Line from Outperform at Evercore ISI citing valuation following the recent appreciation in the shares. HPE shares are up 158.5% year-to-date, and Evercore believes the stock is fairly valued at current levels. It sees fewer near-term catalysts to drive additional multiple expansion, saying upside to profitability remains dependent on improved networking supply.
• Iren (IREN) double upgraded to Overweight from Underweight at JP Morgan and raised tgt to $65 from $46 saying the company is establishing itself as a top tier neocloud provider, backed by its strategic partnership with Nvidia, and has gained momentum in signing customers.
• Mara Holdings (MARA) was double downgraded to Underweight from Overweight at JP Morgan and cut tgt to $11 from $13 saying other companies offer more direct growth and value accretion from data center opportunities.
• Oracle (ORCL) Co-founder Larry Ellison has axed plans to sell up to $7.5B worth of shares in an about-face as his company comes under pressure over its all-in bet on Ai. Ellison had elected not to sell any Oracle stock after disclosures the previous day showed he planned to sell as many as 50M shares by the end of October.
• RUM Group (RUM) shares rises pre mkt after The Information reported on Sunday that Anthropic had signed a computing deal with RUM Group, that hosts U.S. President Donald Trump’s Truth Social platform. RUM said on August 24 that it had signed a deal worth $13.7 billion with a U.S.-based cloud customer, without unveiling the name. Under the deal, the customer will get access to GPUs and related services from RUM Group’s Georgia site.
• Surf Air Mobility (SRFM) said its Mokulele Airlines Wins $19.4M Four-Year U.S. DOT Contract for Lanaʻi Service; contract provides $19.4M in EAS subsidies through August 2030, excluding additional passenger fare revenue.