IBM (IBM) reportedly is closing its China 澳洲幸运5官方开奖结果体彩网:research and development (R&D) department; Nvidia (NVDA) shares are edging higher in premarket trading as investors await the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) favorite's earnings Wednesday; the Dutch privacy watchdog said it has fined Uber Technologies (UBER) 290 million euros ($324 million) for allegedly sending drivers' data to the U.S. without adequate safeguards; and U.S.-listed shares of Temu parent PDD Holdings (PDD) are sinking after an earnings miss, while those of Chinese electric vehicle (EV) maker XPeng (XPEV) are rising after its CEO bought additional shares. U.S. stock futures are little changed after closing 澳洲幸运5官方开奖结果体彩网:sharply higher Friday as Federal Reserve Chair Jerome Powell 澳洲幸运5官方开奖结果体彩网:confirmed the central bank could soon cut interest rates. U.S. stock futures are rising after closing 澳洲幸运5官方开奖结果体彩网:sharply higher Friday as Federal Reserve Chair Jerome Powell 澳洲幸运5官方开奖结果体彩网:confirmed the central bank could soon cut interest 🦹rates. Here's what investors need to know today.

1. IBM Latest US Firm to Pull Back From China

IBM (IBM) reportedly is closing its China 澳洲幸运5官方开奖结果体彩网:research and development (R&D) department and moving those functions overseas. The Wall Street Journal said IBM executive Jack Hergenrother informed employees of the move in a virtual meeting Monday. The closure comes amid Beijing's push to get domestic purchasers to buy more from homegrown technology suppliers and as American firms face tighter scrutiny on their China operations by lawmakers in strategic areas like AI. IBM's closure would affect more than 1,000 people and mark the latest retreat from China by a top U.S. firm. In May, the Journal reported that Microsoft (MSFT) asked local employees to consider transferring outside the country.

2. Nvidia ဣin Focus Ahead of Q2 Results Wednesday

Nvidia (NVDA) shares are edging higher in premarket trading as the AI favorite prepares to release its highly anticipated 澳洲幸运5官方开奖结果体彩网:second-quarter results Wednesday. Investors will be looking out for sustained growth in the chipmaker's data center segment and updates about its next-generation Blackwell chips following reported delays. Nvidia's shares have 澳洲幸运5官方开奖结果体彩网:surged around 43% from their August low and have been bolstered in recent weeks by bullish Wall Street coverage and 澳洲幸运5官方开奖结果体彩网:growing earnings forecasts. 

3. Uber Faceꦐs $324M Dutch Fine for Transfer of Driver Datওa to US

The Dutch privacy watchdog said it has fined Uber Technologies (UBER) 290 million euros ($324 million) for allegedly transferring the personal data of European taxi drivers to the U.S. without adequate safeguards. The Dutch Data Protection Authority, or DPA, said the ride-hailing giant breached the 澳洲幸运5官方开奖结果体彩网:General Data Protection Regulation by sending "sensitive information of drivers from Europe and retained it on servers in the US." The fine reportedly is a record for Uber, which is appealing the second of two other penalties from the Dutch regulator.  The fine stemmed from complaints from 170 French Uber drivers, but the Dutch regulator issued the fine because Uber's European headquarters is in the Netherlands. In a statement to Investopedia, Uber said it will appeal, calling the Dutch decision "flawed" and "completely unjustified."

4. Temu Parent PDD Sinks on Revenue Miss

澳洲幸运5官方开奖结果体彩网:American depositary receipts (ADRs) of Chinese e-commerce company PDD Holdings (PDD) are plunging 15% in premarket trading after the parent of discount marketplace Temu reported second-quarter sales of 97.06 billion yuan ($13.63 billion), below consensus estimates of analysts polled by Visible Alpha. "While encouraged by the solid progress we made in the past few quarters, we see many challenges ahead,” chairman and co-CEO Lei Chen said. Rival Alibaba (BABA) also reported quarterly earnings that 澳洲幸运5官方开奖结果体彩网:missed analysts' estimates earlier this month as the online retailers struggle with a weak Chinese economy and amid reports that Amazon (AMZN) has begun 澳洲幸运5官方开奖结果体彩网:pitching Chinese suppliers on a new section of its website that ♚ℱwould sell low-cost clothes and home goods to U.S. consumers directly from China.

5. XPeng Jumps as൩ CEO Boosts Stake in Chinese EV Maker

XPeng (XPEV) ADRs are rising 4% in premarket trading after the Chinese electric vehicle (EV) maker said that 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Xiaopeng He bought more than 2 million of the company's shares. XPeng said in a filing that He bought 1 million H-shares at an average price of 27.13 Hong Kong dollars ($3.48), and 1.42 million 澳洲幸运5💃官方开奖结果体彩网:American depositary shares (ADSs) at an average price of US$7.02 between Aug. 21-23.