Nasdaq, S&P 500 Futures Catch Breath Ahead Of First Warsh-Led Fed Decision: Why SPCX, TSLA, RKLB, BABA, NVO, HOOD, STI Are Keeping Traders Hooked

Stocktwits data showed retail sentiment on SPY and QQQ has remained ‘bearish’ despite the recent rally.

• Markets took a breather as investors assessed the latest rally, fueled by easing tensions in the Middle East, and prepared for the Federal Reserve’s first policy decision under Chair Kevin Warsh. 
• SpaceX mania continues as options begin trading today, with retail traders speculating about a potential volatility-driven ‘gamma squeeze.’ 
• Novo Nordisk said it plans to seek regulatory approval in China ‘very soon’ for its oral version of Wegovy. 

U.S. stock futures were subdued early Tuesday, with traders taking a breather ahead of Wednesday’s Federal Reserve policy meeting, the first under newly appointed Chair Kevin Warsh, where interest rates are widely expected to hold steady. 

This follows a strong rally in the previous session, driven by a breakthrough U.S.–Iran agreement to reopen the Strait of Hormuz, which removed a geopolitical overhang that has weighed on global markets for over four months. 

As of 4:00 a.m. ET, Dow futures were up 0.1%, Nasdaq futures fell 0.1%, S&P 500 futures were flat, and Russell 2000 futures gained 0.2%.

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 ‘bearish’.

Trending Stocks To Watch

SpaceX (SPCX) stock crossed a $2.5 trillion valuation on Monday, though Wall Street analysts are flagging concerns. Veteran short seller Jim Chanos warned that investors rarely profit from buying companies valued at more than 100 times revenue. Retail investors gear up for the launch of options trading today. 

Tesla (TSLA): Shares were under mild pressure in early premarket trade. Ross Gerber said the EV maker is "worthless" without a formal merger with SpaceX, adding to intense retail speculation about the ultimate combination. 

Rocket Lab USA (RKLB): Shares rose 2% in early premarket trading as the company prepares its 90th Electron flight later this week. CEO Peter Beck also reiterated Rocket Lab’s position as the industry’s "clear number two" behind SpaceX.  

AST SpaceMobile (ASTS): Shares gained over 1% in early premarket trade after announcing that its BlueBird 8, 9, and 10 satellites have been encapsulated inside a SpaceX Falcon 9 rocket ahead of a June 17 Falcon 9 launch. 

Alibaba Holdings (BABA): Gained retail attention after unveiling a new suite of AI models designed specifically for robotics applications. 

Novo Nordisk (NVO): Trending marginally higher in early premarket after its CEO reportedly announced plans to submit its highly anticipated oral Wegovy weight-loss pill for regulatory approval in China within the next few months to challenge Eli Lilly (LLY).

Fiserv (FISV): “The Big Short” investor Michael Burry backed the incoming CEO in a Substack post on Monday and revealed he bought more shares during the selloff.

Qualcomm (QCOM): In the spotlight following reports that it is in advanced talks to acquire AI chip design startup Tenstorrent for an estimated $8-$10 billion.

Micron (MU), SanDisk (SNDK): Both memory giants are on the retail radar after technical indicators flagged them at historic extremes, with Micron at its most overbought in over 30 years and SanDisk at its most overbought ever. 

Dell Technologies (DELL): Awarded a $1.44 billion firm-fixed-price contract renewal to provide Microsoft 365 enterprise licenses and software assurance to the U.S. Air Force.

Robinhood (HOOD): Edged lower in early premarket trade after regulatory filings revealed the company’s CFO and co-founder sold millions of dollars in stock. The shares crossed the $100 mark on Monday after the launch of its AI trading platform.

Solidion Technology (STI) stock rose more than 10% in early premarket trading after the company unveiled its patented Bipolar Electrode-to-Pack (BEEP) battery technology. 

Anthropic remains on the radar as talks with Trump administration officials continue following an unprecedented White House security restriction that forced the company to take its Fable 5 and Mythos 5 models completely offline. 

Other tickers trending on Stocktwits at the time of writing included Upstart Holdings (UPST), Pagaya Technologies (PGY), Palantir Technologies (PLTR), and Innodata (INOD). 

Other Catalysts To Watch

On the economic front, investors are tracking the release of the US ADP weekly employment change and housing starts data later today. 

On earnings radar, watch out for quarterly reports from Uxin (UXIN), Vince Holding (VNCE), Waterdrop (WDH), Wiley (WLY), La-Z-Boy (LZB), and 17 Education & Technology Group (YQ), among others.

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