Preview of US Stock Market | Three major stock index futures fell together, oil prices surged, Google and Tesla fell after their earnings, and Intel released its financial report after the market closed.

Pre-market Market Trends 1. In pre-market trading on July 23 (Thursday), the futures of the three major U.S. stock indexes all fell. As of the time of writing, Dow Jones futures fell by 0.60%, S&P 500 index futures fell by 0.59%, and Nasdaq futures fell by 0.83%. 2. As of the time of writing, the Germany DAX index fell by 0.87%, the UK FTSE 100 index fell by 0.27%, the France CAC 40 index fell by 1.27%, and the Euro Stoxx 50 index fell by 1.05%. 3. As of the time of writing, WTI crude oil rose by 4.57% to $90.80 per barrel. Brent crude oil rose by 4.96% to $98.74 per barrel. Market News - An oil tanker in the Red Sea was first hit by a missile! Alternative shipping routes blocked, oil prices soar. The oil prices surged after Iran-backed Houthi rebels claimed to have attacked two Saudi Arabian oil tankers in the Red Sea, escalating tensions in the Middle East and threatening deeper supply disruptions. Earlier this week, the Houthi rebels issued threats to block Saudi Arabian shipping in the Red Sea. The waterway has become an important alternative export route for Saudi Arabia to bypass the Strait of Hormuz, and the escalation of the situation threatens to disrupt the daily supply of millions of barrels of crude oil to global customers. - "The Fed's favorite inflation indicator" to be revised, providing support for delaying rate hikes? The Bureau of Economic Analysis (BEA) plans to adjust the calculation of the Personal Consumption Expenditures (PCE) price index, involving portfolio management fees, computer software, and legal services. BEA announced the adjustment plan on June 24, and the new method will take effect on September 30. The market expects that the adjusted core PCE inflation rate may decrease by 0.2 to 0.3 percentage points from previous data. Currently, the core PCE price index increased by 3.4% year-on-year as of May; after adjustment, this data may decrease to 3.2% or even 3.1%. This change may provide more basis for Fed officials who are inclined to delay rate hikes, but it is not enough to change the reality that inflation is still above the target level. The Fed's target is to bring down the annual inflation rate to 2%, and whether using the pre-adjustment or post-adjustment calculation method, core PCE is still significantly higher than this level. - Semiconductor rebound faces questioning: Is it worth bottom-fishing under high volatility? After a month of adjustment, semiconductor stocks have rebounded recently. However, there is a clear divergence among investors on the sustainability of the semiconductor stock rebound. On one hand, the options market shows warning signs of high short-term volatility, while on the other hand, investment banks are optimistic about repositioning opportunities based on historical pullbacks and seasonal factors. Adam Turnquist, Chief Market Strategist at LPL Financial, stated that the semiconductor volatility index is still at "extremely high levels," especially when compared to the VIX, which measures the volatility of the S&P 500 index. In the short term, investors in the VanEck Semiconductor ETF (SMH) may still face significant volatility. At the same time, Bank of America's trading department believes that after U.S. momentum stocks have experienced profit-taking, the current price levels are attractive and recommends clients to focus on this sector. Earlier this week, UBS Group AG's trading department also stated that the decline in momentum stocks may be nearing its end, and investors may begin to rebuild positions in AI and semiconductor stocks.