U.S. stock futures moved higher Monday morning, buoyed by renewed optimism around global trade negotiations and growing expectations of interest rate cuts from the Federal Reserve. Several major names were active ahead of the opening bell, with tech, finance, and automotive sectors all making headlines.
Notable Premarket Movers:
- Nvidia (NASDAQ:NVDA) edged up 0.5%, rebounding despite news that investors have offloaded over $1 billion in shares over the past year, particularly in June. The selloff followed the stock’s massive run-up tied to its dominant role in the artificial intelligence boom, according to a Financial Times report.
- Tesla (NASDAQ:TSLA) dipped 0.6%, as investors brace for the electric vehicle maker’s Q2 delivery figures due Wednesday. Analysts remain cautious amid ongoing concerns over weakening demand and continued controversy surrounding CEO Elon Musk’s outspoken political positions.
- Big banks, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC), all saw premarket gains. The rally follows the Fed’s latest stress test results, which suggested the institutions may be in a strong enough position to raise dividends or expand stock buybacks.
- Juniper Networks (NYSE:JNPR) surged 8.4% after the U.S. Department of Justice resolved its antitrust concerns over Hewlett Packard Enterprise’s (NYSE: HPE) planned $14 billion all-cash acquisition of the networking equipment maker. HPE shares climbed 5.6% in response.
- Hyatt Hotels (NYSE:H) gained 0.5% after announcing it would sell off Playa Hotels’ owned real estate assets for $2 billion to Tortuga Resorts. Hyatt acquired Playa earlier this year for $2.6 billion including debt.
- Stellantis (NYSE:STLA) fell 0.4% following a major recall involving over 250,000 vehicles in the U.S. due to potential defects in side curtain airbag seals, according to the National Highway Traffic Safety Administration.
- Walt Disney (NYSE:DIS) jumped 2% after Jefferies upgraded the stock from “hold” to “buy,” pointing to strong prospects for the company’s cruise line segment, which could contribute more than $1 billion in incremental revenue by fiscal 2026.
- Oracle (NYSE:ORCL) climbed 1.9% after analysts at Stifel revised their rating upward to “buy,” citing encouraging momentum in the company’s cloud services division.
- Kratos Defense & Security Solutions (NASDAQ: KTOS) rose 2.6% after Goldman Sachs upgraded the defense contractor to “buy” from “neutral.” The firm highlighted Kratos’ focused investments in critical defense infrastructure and emerging technologies.