Today’s Market Movers: Sandisk, Intel, and Marvell Fall as Bond Yields Rise to Open September

TLDR

• Stock futures fell Tuesday as rising bond yields weighed on markets heading into September
• Novartis jumped around 4% after its MS drug remibrutinib met key Phase III trial goals
• AI and memory stocks including Sandisk, Marvell, and Intel dropped in premarket trading
• Robinhood rose 2.3% after Morgan Stanley upgraded it to Overweight with a $150 price target
• NIO slid 4% ahead of Q2 earnings despite a 14.5% year-over-year rise in August deliveries

Wall Street opened September under pressure on Tuesday. Stock futures edged lower as rising bond yields made investors cautious and risk appetite faded.

September has historically been the worst month for the S&P 500, and Tuesday’s early moves fit that pattern.

Novartis Leads Gainers After MS Drug Breakthrough

Novartis was the standout gainer of the day, with shares climbing around 4% to 4.5%. The Swiss drugmaker announced that its oral BTK inhibitor, remibrutinib, hit its primary endpoints in two Phase III trials for relapsing multiple sclerosis.

… Continue reading the full article at the original source below.