Nasdaq Futures Tread Water After Monday Rout: MU, NVTS, NVO, KOD, SMMT, ASTS Stocks In Focus

On Stocktwits, retail sentiment toward SPY and QQQ stayed ‘bullish.’

• President Trump and Speaker Mike Johnson are hosting key AI leaders, including Jensen Huang, Dario Amodei, and Alex Karp in Washington.
• Investors await key economic indicators, including August JOLTS job openings and September Consumer Confidence, along with pre-market earnings from Carnival and CarMax. 
• Speeches from Chicago Fed President Austan Goolsbee and New York Fed President John Williams are scheduled for later today. 

U.S. stock futures were subdued early Tuesday as rising Treasury yields and ongoing artificial intelligence safety concerns weighed on market sentiment. Meanwhile, President Donald Trump and House Speaker Mike Johnson are set to host a high-profile White House summit with prominent AI executives, including Nvidia’s Jensen Huang, Anthropic’s Dario Amodei, and Palantir’s Alex Karp to discuss regulation, infrastructure spending, and national security. 

The cautious premarket tone follows a broader selloff on Monday. The 10-year Treasury yield climbed to around 5.23%, its highest level since 2007, while Brent crude stayed near $100 a barrel amid uncertainty over the U.S.-Iran conflict and the Strait of Hormuz. 

As of 4:00 a.m. ET, Nasdaq, S&P 500 and Dow futures were flat, while Russell 2000 futures were down 0.1%.

However, on Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, remained ‘extremely bullish,’ and Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, stayed ‘bullish.’

Trump And AI Take Center Stage 

President Trump and House Speaker Mike Johnson are expected to meet leading AI executives Tuesday in Washington. This follows Nvidia's unveiling of its Open Agent Safety Platform, designed to monitor and contain AI agents as they perform increasingly autonomous tasks. The initiative comes as recent incidents involving AI systems have renewed concerns around cybersecurity and AI safety.

Ahead of its annual developer conference in San Francisco, where over 20 product launches are expected, OpenAI has reportedly deferred the October release of its GPT-6.1 Astra model after determining that it did not adequately meet the company’s safety standards.

Meanwhile, a news report shared details from Anthropic’s IPO prospectus showing just how capital-intensive the AI race has become. The company reported a $42 billion net loss for 2025 and disclosed $518 billion in future cloud, computing and infrastructure commitments.

The Tech Radar

Micron Technology (MU) remains on top of the Stocktwits trending list ahead of its earnings report this week. Investors will be watching for commentary on high-bandwidth memory (HBM) demand, record DRAM pricing, and future capex guidance. 

Advanced Micro Devices (AMD): Shares rose marginally in early premarket trade after agreeing to acquire Fei-Fei Li’s AI research startup, World Labs, in an $8.2 billion all-stock transaction to expand into 3D spatial intelligence and robotics. 

Navitas Semiconductor (NVTS): Shares rose over 13% in early premarket trading after the U.S. government selected it to develop next-generation 10 kV SiC power semiconductors.

Snowflake (SNOW) priced an upsized $3.75 billion private placement of 0.00% convertible senior notes.

Hyperscalers (AMZN, META, GOOGL, MSFT and ORCL): On Monday, Google announced a $15.2 billion AI infrastructure investment in Finland, while Meta launched its new Enterprise Platform led by former MongoDB CEO C.J. Desai. Meta has also announced AI infrastructure deals with Firmus across Asia-Pacific.

Pharma Pulse 

Kodiak Science (KOD) shares fell more than 4% in early premarket trading after Phase 3 trial wins for its experimental eye disease treatments triggered a stellar rally on Monday.

Summit Therapeutics (SMMT) shares soared 27% in early premarket trade following news of a joint clinical collaboration with AstraZeneca to evaluate combination cancer therapies.

Viking Therapeutics (VKTX) shares extended a multi-day decline after closing an upsized $548 million offering of common stock and convertible notes.

Novo Nordisk (NVO) is reportedly paying $300 million to China’s Jiangsu Pharmaceuticals for rights to its experimental oral GLP-1 drug (HRS-1596).

Eli Lilly (LLY) said in a statement that its oral GLP-1 drug Foundayo (orforglipron) 17.2 mg showed greater weight loss and A1C reduction than oral semaglutide 25 mg in adults with Type 2 diabetes in a new indirect treatment comparison. 

Trending Stocks

Tesla (TSLA) shares were steady in early premarket as analysts trimmed Q3 delivery estimates, despite reports that SpaceX is advancing construction on its ‘Terafab’ facility.

SpaceX (SPCX): Shares rose marginally in early premarket after successfully launching its Starship rocket to deploy the first revenue-generating V3 Starlink satellites into orbit. 

AST SpaceMobile (ASTS): Shares rose 1% in early premarket following the disclosure of a new executive change-of-control payout plan, triggering buyout chatter.

Robinhood (HOOD) was upgraded by BTIG to a $135 target after strong month-to-date September trading metrics across crypto and event contracts point to a solid Q3. 

Luckin Coffee (LKNCY) is under pressure in September despite celebrating its 100th store opening in Singapore and evaluating expansion into the Middle East.

Boeing Co (BA): Remains on the retail radar after the FAA delayed certification of the 737 MAX 10 due to a newly discovered navigation software issue. 

Delta Airlines (DAL) shares are in the spotlight after Elon Musk criticized Delta, saying that it could lose customers by not choosing Starlink, as United accelerates the rollout of SpaceX’s satellite Wi-Fi across its fleet. 

Greenland Mines (GRML): The company expects to raise approximately $17.2 million in net proceeds from its offering, according to an SEC filing.

Other tickers trending on Stocktwits at the time of writing included Micron (MU), Ondas (ONDS), Iren (IREN), and Netlist (NLST).

What Else To Watch Tuesday

Watch out for September consumer confidence data, August JOLTS job openings, and a White House AI executive summit. Meanwhile, Chicago Fed President Austan Goolsbee is set to deliver a speech at 1:00 pm ET, followed by New York Fed President John Williams at 2:00 pm ET.

On the earnings front, Carnival Corporation Ltd. (CCL), CarMax Inc. (KMX), AAR Corp. (AIR), and Concentrix Corp. (CNXC) are among those reporting today. 

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