Nasdaq, S&P 500 Futures Dip As Trump-Iran Tensions Lift Crude Oil Prices: Why MU, MRAM, MLTX, DRTS, ASTS Are In Focus

• Iran submitted a revised proposal to U.S. negotiators involving sanctions relief and uranium export concessions. However, Trump rejected the proposal over the weekend, calling it “totally unacceptable” on Truth Social. 
• Traders are closely watching Tuesday’s inflation print, Trump-Xi talks in Beijing, and geopolitical developments in the Middle East this week.
• AI and memory-chip momentum remained a dominant market theme, with Micron and Everspin among the top-trending stocks on Stocktwits.

U.S. stock futures edged lower early Monday as investors weighed the rising crude oil prices amid the latest geopolitical developments in the Middle East. Late Sunday, President Donald Trump rejected Iran’s latest diplomatic peace proposal, calling it “totally unacceptable.” 

This comes ahead of April CPI inflation data due Tuesday and a closely watched meeting between Trump and Xi Jinping expected later this week in Beijing, their first face-to-face talks in over six months. 

As of 4:00 a.m. ET on Monday: Nasdaq futures were flat, while S&P 500 and Dow futures declined 0.1%, and Russell 2000 futures edged 0.3% lower. 

However, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has remained ‘bullish’ since last week.

Trending Stocks To Watch

Micron (MU), Sandisk Corp (SNDK): Memory-chip stocks continued to dominate retail chatter and trade action as the AI infrastructure trade showed little sign of cooling. 

Everspin Technologies (MRAM) stock surged 35% in early premarket trade. It has more than doubled since April 29,  after posting strong quarterly earnings and highlighting a $40 million U.S. defense subcontract. 

Biotech stocks are garnering attention. Keep an eye on Moderna (MRNA) and Novavax (NVAX). According to reports, a repatriated American from a luxury cruise ship affected by hantavirus tested mildly positive for the Andes strain, while another individual is exhibiting mild symptoms.

MoonLake Immunotherapeutics (MLTX) is trending high on Stocktwits after a positive FDA meeting confirmed a "best-in-class" label strategy for its skin drug. 

ImmunityBio Inc. (IBRX) remained heavily discussed after last week’s 20% rally, even as shares dipped over 1% in early premarket trade. Investors continued to track founder Patrick Soon-Shiong’s comments on international expansion efforts involving Saudi Arabia and Greece.

Alpha Tau Medical (DRTS) stock gained 5% in early premarket trading as investors awaited early U.S. clinical results for its brain cancer radiation therapy, due Monday. 

Lumentum Holdings Inc (LITE) rose 5% in early trade after Nasdaq announced the company will join the Nasdaq-100 index, replacing CoStar Group Inc., effective May 18.

AST SpaceMobile Inc. (ASTS) edged higher ahead of earnings due today.

Other tickers trending on Stocktwits at the time of writing included Sun Communities (SUI), Lynas Rare Earths (LYSCF), and Rackspace Technologies (RXT).

Other Catalysts To Watch

On earnings radar, watch out for quarterly reports from Circle Internet Group Inc (CIRCL), Fox Corporation (FOXA), monday.com Ltd (MNDY), Constellation Energy Corporation (CEG), and Barrick Mining Corporation (GOLD) today.

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