Nasdaq, S&P 500, Dow Futures Mixed As Hormuz Tensions Ease, China Tightens Export Curbs: Why SPCX, MU, INTC, SLS, MLTX, GETY Are In Focus

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

• Investors weighed easing tensions in the Middle East against fresh trade restrictions from China.
• A joint statement from Qatar and Pakistan announced that the U.S. and Iran have agreed to a 60-day roadmap toward a final peace deal. 
• Traders are also closely watching Micron earnings and the core PCE inflation report later this week.

U.S. stock futures were mixed early Monday following the Juneteenth holiday weekend. Renewed tensions around the Strait of Hormuz eased slightly after a joint statement from Qatar and Pakistan announced that the U.S. and Iran had agreed to a 60-day roadmap toward a final peace deal. On the other hand, trade tensions are rising in the East as China introduced strict dual-use export curbs targeting specific U.S. defense, technology, and rare earth companies. 

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

However, 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) ETF, which tracks the Nasdaq-100 Index, has remained ‘bullish’.

Trending Stocks To Watch

SpaceX (SPCX) stock is sliding again after MSCI assigned the newly public company its lowest "CCC" ESG rating, drawing a sharp public rebuttal from CEO Elon Musk.

Micron (MU) stock gained ground ahead of earnings this week. Other memory stocks, such as WDC and SNDK, continue to gain retail attention. SK Hynix overtook Samsung to become Korea’s most valuable company on Monday, and the Roundhill Memory ETF (DRAM) rose 3%.

Intel Corp (INTC) rose 4% in early premarket trade after CEO Lip-Bu Tan outlined ambitions to increase the company's value tenfold over the next decade.

Nebius Group NV (NBIS) and Coreweave (CRWV) garnered retail attention ahead of their inclusion in the Nasdaq-100. Rocket Lab (RKLB), Astera Labs (ALAB), and Teradyne (TER) are the others set to join the index on Monday. 

RedCat Holdings (RCAT) is under pressure after China's Ministry of Commerce banned dual-use export shipments to its drone unit (Teal Drones) in response to U.S. defense listings. 

MP Materials (MP) and USA Rare Earth (USAR) are on the retail radar as China tightened trade restrictions and added both critical mineral companies to its export control lists. 

Sellas Lifesciences (SLS) is under mild pressure in early premarket trade on investor dilution concerns after approving 20 million new shares for employee equity rewards ahead of a key clinical trial readout. 

Moonlake Immunotherapeutics (MLTX) stock rose 17% in early premarket trade after reporting strong 52-week Phase 3 data for its hidradenitis suppurativa treatment ahead of its Investor Day. 

Apogee Therapeutics (APGE) surged over 50% in early premarket trade after reports suggest that it is nearing a $10.9 billion cash acquisition deal by pharma giant AbbVie (ABBV) at a 60% premium to secure its pipeline of inflammatory disease treatments. 

Getty Images (GETY) stock soared 200% in early premarket trade after it announced an agreement to license its visual library for ChatGPT search and discovery experiences. 

Other tickers trending on Stocktwits at the time of writing included Enovix Corp (ENVX), Butterfly (BFLY), Advanced Micro Devices (AMD), and Qualcomm (QCOM) 

Other Catalysts To Watch

On the economic front, investors are closely eyeing the release of May's core Personal Consumption Expenditures (PCE) data, the Federal Reserve’s primary inflation metric, later this week for clues on the Fed’s rate direction. 

On earnings radar, watch out for quarterly reports from Carnival (CCL), Outdoor Holding Co. (POWW), and Blue Star Foods (BSFC). 

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