Nasdaq, S&P 500 Futures Rise Despite US–Iran Flare-Up: Why AAPL, META, TSLA, PLTR, GME, SKK Are Keeping Traders Engaged Today

• Markets attempting to regain footing after Monday’s choppiness
• Rising U.S.–Iran tensions in the Strait of Hormuz reignited volatility in oil markets. 
• Apple is reportedly exploring U.S.-based chip production with Intel and Samsung 

U.S. stock futures rose marginally after a choppy start to the week as investors monitored the escalating tensions in the Middle East. A significant exchange of fire between the U.S. and Iran in the Strait of Hormuz has cast doubt on a recent four-week ceasefire and brought volatility back in the energy markets. 

As of 4:00 a.m. ET on Tuesday: Dow and S&P 500 futures rose 0.2%, Nasdaq futures gained 0.3%, while Russell 2000 futures rose 0.5%

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 moderated slightly to ‘bullish’ from ‘extremely bullish’ a day ago.

Trending Stocks To Watch

Apple (AAPL) is reportedly exploring U.S.-based chip production with Intel and Samsung to reduce its decade-long reliance on TSMC. 

Meta Inc (META): It reportedly plans to leverage roughly $13 billion in debt to finance a massive new data center in Texas. Meanwhile, a fresh trial is underway in New Mexico regarding child safety. And has reportedly ordered the company to pay $3.7 billion and to overhaul its Facebook, Instagram, and WhatsApp platforms to protect young users.

Amazon Inc (AMZN) reaffirmed its massive $200B AI spending push, with CEO Andy Jassy calling AI “the biggest tech transformation of our lifetimes.” 

Tesla (TSLA): Stock rose marginally in early premarket trade. Reports suggest that EU regulators have expressed skepticism over "Full Self-Driving" safety. In other news, Elon Musk has reached a settlement with the SEC over his Twitter acquisition. 

Palantir (PLTR) stock fell 2% in early premarket trade despite strong earnings and guidance, as valuation concerns capped upside. 

Gamestop Corp (GME): ‘Big Short’ investor Michael Burry has liquidated his entire position in the retailer after its bid for eBay on Monday. 

SKK Holdings (SKK) trended lower in early pre-market trade after the stock surged by more than 700% on Monday. It had announced the acquisition of Rantizo’s drone assets.

Other tickers trending on Stocktwits at the time of writing included Elong Power Holdings (ELPW), Duolingo Inc (DUOL), Willow Lane Acquisition (WLAC), and Paramount Skydance (PSKY).

Other Catalysts To Watch

On the economic front, traders will be watching the release of ISM Services PMI (Apr) and revised JOLTS Job Openings (Mar) at 10:00 am ET.

On earnings radar, watch out for quarterly reports from PayPal Holdings Inc (PYPL), Shopify Inc (SHOP), Pfizer Inc (PFE), Energy Transfer LP Unit (ET), and Evgo Inc Class (EVGO), among others, before the bell today. Meanwhile, Advanced Micro Devices Inc (AMD), Lucid Group Inc (LCID), Ocugen Inc (OCGN), Super Micro Computer Inc (SMC), Strategy Inc (MSTR), and others report after market close today. 

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