Pre-Market Update — Thursday, August 13, 2026
Pre-Market Pulse: Risk tone leans modestly constructive with equity futures firmer, but crude is cracking and the 8:30 PPI print is still in limbo.
The 8:30 Print: Both Core PPI and headline PPI Final Demand were scheduled to hit the tape at 8:30 ET, but verified actuals are not yet available at publication. Prior headline PPI stood at 5.97% YoY. Market reaction across the majors has been muted regardless: $ES=F held at +0.17%, $NQ=F drifted from +0.07% to -0.02%, and $GC=F remained pinned near -0.42%. Traders should treat the tape as unresolved on inflation until the print is verified — a hot number could re-price the front end quickly.
Overnight Action: Asia was a split screen — the Nikkei ripped +1.16% to 68,308, while Hang Seng slid -1.0% to 25,396. Europe is mixed to firm: Euro Stoxx 50 +0.45%, DAX +0.18%, FTSE -0.43%. US futures lean green with $ES=F +0.17% at 7,784, $YM=F +0.30%, $RTY=F +0.26%, while $NQ=F is flat. The real story is energy: $CL=F -2.39% to $81.28 and $BZ=F -2.16% on what appears to be a supply-side unwind, even as France flags heatwave-driven nuclear cuts. Gold softer at $4,448.9, -0.42%.
Movers Before the Bell: On thin pre-open volume — meaning these moves can fade at 9:30 —
- ▸$TSLA -0.75% to $324.90, underperforming mega-cap peers as a Musk/SpaceX-skeptic piece circulates questioning short-seller thesis math.
- ▸$GOOGL +0.52% to $345.24, catching a bid on disclosure that Alphabet owns a material SpaceX stake, plus renewed $5T club chatter versus $AAPL.
- ▸$AAPL +0.35% to $303.30, firm on the same trillion-dollar race narrative.
- ▸$AMD -0.37% to $480.64 and $NVDA -0.17% to $223.54, both softening despite constructive sell-side commentary on Nvidia — semis giving back a sliver after recent strength.
- ▸$USO -1.69% to $125.15, tracking the crude rout.
Birkenstock also popped in Europe after raising guidance — watch for US ADR follow-through.
Still Ahead Today: The PPI complex remains the day's key overhang until verified — Core PPI YoY and Final Demand YoY. Any late verification will re-price rate-cut odds and the dollar. No other high-impact US events flagged in window.
Game Plan: $SPY pre-market $773.82, +0.21%.
- ▸Resistance: $775 (round-number magnet, prior swing).
- ▸Pivot: $772.49 (prior close — bulls need to hold).
- ▸Support: $770, then $767.
Trade idea: fade the open only if PPI prints hot AND $SPY loses $772.49 on volume; otherwise the path of least resistance is a grind toward $775 with energy weakness offset by mega-cap tech bid. Keep $QQQ $723.94 on the tape — it needs to reclaim $724 to confirm.
Not investment advice. Pre-market pricing subject to revision at the cash open.