U.S. stock futures crept up on Monday, recovering from severe monthly losses as investors waited for President Donald Trump’s newest tariff proposals and vital job data. Several equities in several industries had significant premarket swings, including cryptocurrency-exposed businesses, EV producers, and defense contractors in particular.
Largest Premarket Movers:
- Coinbase (NASDAQ: COIN) rose 9.1%, MicroStrategy (NASDAQ: MSTR) rose 12%, and Riot Platforms (NASDAQ: RIOT) rose 10% as cryptocurrency firms profited from Bitcoin’s recovery. The rise occurred after former President Donald Trump detailed his plans for a strategic cryptocurrency reserve over the weekend.
- Tesla (NASDAQ: TSLA) +3.4% soared as Morgan Stanley restored the EV manufacturer as a ‘Top Pick’ in U.S. cars, noting the stock’s roughly 30% year-to-date loss as an attractive entry opportunity.
- Nvidia (NASDAQ: NVDA) -0.3% fell marginally amid claims in the Wall Street Journal that Chinese buyers are aggressively acquiring its cutting-edge AI processors, circumventing US chip export restrictions.
- RTX Corp (NYSE: RTX) +2.3% and Lockheed Martin (NYSE: LMT) +0.4% rose as defense stocks rallied following the US government’s acceptance of a $3 billion arms contract with Israel.
- Southwest Airlines (NYSE: LUV) fell 2.3% following last week’s near-collision between one of its flights and a private aircraft on the runway at Chicago Midway Airport.
- Domino’s Pizza (NYSE: DPZ) gained 2.7% as it unveiled its loaded crust, trying to entice consumers willing to pay more for premium menu options.
- Kroger (NYSE: KR) fell 0.9% after the supermarket chain announced CEO Rodney McMullen’s retirement, which came after a board review found his conduct to be inconsistent with the company’s ethics policy.
- With imminent economic data releases and geopolitical happenings impacting investor mood, the stock market is on high alert for further changes in momentum.
