Why Are Nasdaq Futures Soaring Premarket? NBIS, MU, TSLA, SPCX, ASTS, SLS Stocks In Focus

• Nearly 15% of S&P 500 companies report earnings this week, including SpaceX, Tesla, and Meta.
• Retail traders also remain watchful, with many noting that Monday marked the 39th anniversary of the 1987 “Black Monday” crash. 
• Investors will also watch pending home sales and weekly jobless claims data later this week.

U.S. stock futures were higher early Monday, recovering from last week's Wall Street selloff. Investors will look to the earnings rush, with nearly 15% of S&P 500 companies reporting in the week ahead, including SpaceX, Tesla, and Meta, along with the weekly jobless claims. 

As of 4 a.m. ET, Nasdaq futures soared 1.1%, Dow futures gained 0.1%, while S&P 500 and Russell 2000 futures rose 0.5%. This rebound follows the Nasdaq and S&P 500's worst weekly performance since early June, amid concerns about AI spending and valuations that sparked a brutal selloff in tech stocks, especially neocloud operators. 

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However, on Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 Index, has dipped into ‘bearish’ territory from ‘neutral’ last week, while Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, has moderated to ‘neutral’ from ‘bullish’ last week.

Retail traders also remain watchful, with many noting that Monday marked the 39th anniversary of the 1987 “Black Monday” crash. 

The Tech Radar

CoreWeave (CRWV) and Nebius (NBIS) shares rebounded in early premarket trade as neocloud operators recover amid reports that Nvidia is offering a credit lifeline to top neocloud survivors. Separately, SEC filings show that Nebius Director Anne Grimme bought shares worth nearly $50K last week. 

Nvidia (NVDA) is reportedly asking Samsung, SK Hynix, and Micron to use TSMC’s 3-nanometer process to build the base die for its next-generation high-bandwidth memory (HBM) chips. This would give Nvidia flexibility between memory suppliers as demand soars. 

Micron Technology (MU), SK Hynix (SKHY), Broadcom (AVGO), Qualcomm (QCOM), and Taiwan Semiconductor Manufacturing Co (TSM) are also up 2% to 5% in early premarket trading on Monday. 

Trending Stocks

Tesla (TSLA) is trending ahead of its earnings report later this week. It has also secured a procedural win in a false-advertising lawsuit.

SpaceX (SPCX): Investor Gary Black said he sees SpaceX buying Tesla for $420/share and expects the merger announcement in the ‘next few weeks.’ SpaceX will also report earnings on Tuesday evening. 

AST Spacemobile (ASTS) is drawing attention after Boost Mobile founder Peter Adderton said that he is willing to buy the stock after its fall to $40. He also believes that there is a potential opportunity for traditional telecom companies to partner with or acquire ASTS as an alternative to SpaceX’s satellite connectivity business. 

Rocket Labs (RKLB): Shares saw a relief move of 2% in early premarket trade after the Neutron launch delay news last week weighed on sentiment. Separately, Ligado Networks, ASTS’ partner, has asked the Federal Communications Commission (FCC) to scrutinize RKLB’s proposed $8 billion Iridium acquisition, accusing it of using regulatory filings to delay competing services. 

Sellas Lifesciences (SLS): Retail sentiment on Stocktwits has improved to ‘bullish,’ with traders speculating that the much-awaited REGAL trial findings could be featured at the upcoming American Society of Hematology (ASH) meeting. 

Nio Inc. (NIO) shares were subdued in early premarket trading even after it outsold German luxury rivals in China for the first time. 

Other tickers trending on Stocktwits at the time of writing included Bloom Energy (BE), Marathon Digital (MARA), Iovance Biotherapeutics (IOVA), and Amazon (AMZN).

What Else To Watch This Week

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