{"id":50631,"date":"2025-07-17T09:09:01","date_gmt":"2025-07-17T13:09:01","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-movers-lucid-soars-on-uber-deal-economic-data-surprises-gold-dips\/50631\/"},"modified":"2025-07-17T09:09:01","modified_gmt":"2025-07-17T13:09:01","slug":"market-movers-lucid-soars-on-uber-deal-economic-data-surprises-gold-dips","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-lucid-soars-on-uber-deal-economic-data-surprises-gold-dips\/50631\/","title":{"rendered":"Market Movers: Lucid Soars on Uber Deal, Economic Data Surprises, Gold Dips"},"content":{"rendered":"<ul>\n<li>\n<p><strong>Lucid Group (<a href=\"\/stock\/LCID\">LCID<\/a>)<\/strong> experienced a dramatic surge in its shares, jumping <strong>62%<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> after announcing a <strong>$300 million investment from Uber (<a href=\"\/stock\/UBER\">UBER<\/a>)<\/strong>. This investment is part of a new partnership to develop a next-generation autonomous robotaxi program, with plans to deploy over <strong>20,000 Lucid Gravity SUVs<\/strong> equipped with Nuro&#39;s Level 4 autonomy system over six years, starting in 2026. The first launch is anticipated in a major U.S. city next year.<\/p>\n<\/li>\n<li>\n<p>U.S. economic data surprised positively as the <strong>July Philadelphia Fed Index rose sharply to 15.9<\/strong>, well above the median estimate of -1 from a Bloomberg survey. This significant increase from the prior month&#39;s -4.0 reading suggests a notable improvement in manufacturing conditions in the region. Following this robust data, <strong>spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold prices<\/a> extended losses, falling 1% to $3,312.54\/oz<\/strong>.<\/p>\n<\/li>\n<li>\n<p>In the semiconductor sector, <strong>Micron Technology (<a href=\"\/stock\/MU\">MU<\/a>) shares fell 3.4%<\/strong> in pre-market trading. This decline followed a downgrade of its South Korean competitor, SK Hynix, by Goldman Sachs, which cited concerns over potential high-bandwidth memory (HBM) pricing declines in 2026 and increasing competition. SK Hynix shares themselves dropped over 8% on the news.<\/p>\n<\/li>\n<li>\n<p><strong>United Airlines (<a href=\"\/stock\/UAL\">UAL<\/a>)<\/strong> CEO indicated that business travel demand has returned to expected levels, while low-end leisure demand has recovered <strong>50%<\/strong> from the start of the year. The airline has raised its full-year adjusted earnings guidance to <strong>$9.00-$11.00 per share<\/strong>, reflecting a &quot;positive shift in demand beginning in early July.&quot;<\/p>\n<\/li>\n<li>\n<p><strong>Elevance Health (<a href=\"\/stock\/ELV\">ELV<\/a>)<\/strong> announced a cut to its 2025 guidance, attributing the revision to persistent elevated medical cost trends, particularly within its government-backed Affordable Care Act (ACA) and Medicaid businesses. The company now expects its 2025 adjusted diluted EPS to be approximately <strong>$30.00<\/strong>, a reduction from its previous guidance range of $34.15 to $34.85.<\/p>\n<\/li>\n<li>\n<p>Geopolitical developments include <strong>sirens ringing in areas near the Gaza Strip intersecting with Israel<\/strong>, with reports of a missile launched from Yemen being intercepted. Meanwhile, the <strong>Ukraine Parliament voted to keep Andrii Sybiha as Foreign Minister<\/strong>, amidst a broader cabinet reshuffle.<\/p>\n<\/li>\n<li>\n<p>On the trade front, the <strong>Wall Street Journal<\/strong> reported that <strong>China is threatening to block a deal<\/strong> that would hand over dozens of seaports to Western investors unless Cosco secures a stake. This highlights ongoing tensions in global trade and investment.<\/p>\n<\/li>\n<li>\n<p><strong>PepsiCo (<a href=\"\/stock\/PEP\">PEP<\/a>)<\/strong> CEO noted that the <strong>China market is &quot;a little bit weaker,&quot;<\/strong> providing insight into the performance of a key global consumer market.<\/p>\n<\/li>\n<li>\n<p>European firms are reportedly rushing into the defense sector as the <strong>EU prepares a major security spending boost<\/strong>. The European Commission has proposed a <strong>\u20ac2 trillion long-term budget for 2028-2034<\/strong>, with a significant <strong>\u20ac131 billion<\/strong> allocated to defense and space investment, a fivefold increase from the current framework.<\/p>\n<\/li>\n<li>\n<p>Deutsche Bank stated that the potential removal of Federal Reserve Chair Jerome Powell is &quot;one of the most underpriced event risks&quot; in the coming months, warning of a possible &quot;nuclear event&quot; for global capital flows.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Lucid Group (LCID) experienced a dramatic surge in its shares, jumping 62% in pre-market trading after announcing a $300 million 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