Nasdaq, S&P 500, Dow Futures Kick Off Fresh Week On Strong Note: Why META, NVDA, MU, IREN, PEP, HOOD Are In Focus

Stocktwits data showed retail sentiment remained ‘bullish’ around SPY and QQQ.

• All eyes will be on Wednesday’s release of the Federal Reserve’s June meeting minutes, offering investors fresh clues on the central bank’s rate trajectory.
• On the earnings front, Levi Strauss reports Wednesday, followed by PepsiCo on Thursday and Delta Air Lines on Friday, before major U.S. banks unofficially kick off earnings season next week. 
• Investors will also monitor oil prices and geopolitical developments after reports suggested shipping traffic through the Strait of Hormuz tightened again over the weekend.

U.S. stock futures rose early Monday as markets reopened after the Fourth of July weekend, building on last week’s rally. Investors are gearing up for the start of Q2 earnings season and await the release of the Federal Reserve’s June meeting minutes on Wednesday, the first under new Fed Chair Kevin Warsh. 

As of 4:30 a.m. ET, Nasdaq futures rose 1%, S&P 500 futures gained 0.5%, and Dow and Russell 2000 futures were up 0.2%.

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

Trending Stocks To Watch

Meta Platforms (META): The company is dealing with multiple legal developments, including a U.S. federal judge’s refusal to dismiss a child-addiction design lawsuit and a strict order from India to purge child-abuse content. Amid this, it reportedly plans to launch a new revenue-generating AI cloud business.

Nvidia (NVDA): In focus after manufacturing giant Foxconn reported blockbuster Q2 revenue that beat Wall Street estimates, though Foxconn's vague warnings about "volatile global political situations" have kept chip traders slightly cautious. Reports over the weekend highlighted China's latest claims about neuromorphic chips, while investor Michael Burry renewed his warning that the AI trade may be nearing exhaustion. 

Micron (MU): The memory-chip maker is facing a proposed class-action lawsuit alleging DRAM manufacturers coordinated production to keep prices elevated 

Apple Inc. (AAPL): Supply-chain analyst Ming-Chi Kuo warned that Apple's highly anticipated foldable iPhone could face severe supply and potentially miss its initial September launch window.

PepsiCo (PEP): Facing fresh Wall Street pressure ahead of its Thursday earnings report, after Barclays cut its price target to $144 and warned that the company's North American turnaround is losing steam.

Iren Limited (IREN): The neocloud firm rose 6% in early premarket trade after reports revealed AI giant Anthropic floated a private tender to buy a massive 1.4 gigawatts of data center capacity in Australia, where IREN has a premier infrastructure footprint. 

SoFi Technologies Inc. (SOFI): Cathie Wood's ARK Innovation ETF (ARKK) bought an additional $1 million worth of shares on Thursday, marking its fourth consecutive day of accumulation.

Robinhood Markets Inc. (HOOD): Garnered heavy retail attention following the official July 4th launch of the "Trump Accounts" app, a new government-backed child savings program developed in partnership with Robinhood. 

Other tickers trending on Stocktwits at the time of writing included Advanced Micro Devices (AMD), Rivian (RIVN), SoundHound AI (SOUN), Reddit (RDDT) and Marathon Digital (MARA).

Other Catalysts To Watch

On the economic front, investors will be tracking the release of June S&P Global Services PMI Data later today. 

On the earnings front, Levi Strauss reports Wednesday, followed by PepsiCo on Thursday and Delta Air Lines on Friday, before major U.S. banks unofficially kick off earnings season next week. 

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