Nasdaq, S&P 500 Futures Rebound As Micron Rally Lifts Chip Stocks: Why SPCX, QCOM, TSM, BABA, PLTR, CBRS, WEN, IBRX Are In Focus

Retail sentiment remained cautious, with Stocktwits data showing SPY sentiment stuck in bearish territory while QQQ sentiment improved to bullish.

• The market's mood has shifted from outright fear to cautious optimism. Record inflows into U.S. equities suggest risk appetite remains intact. 
• President Donald Trump has directed the Department of Justice to investigate oil companies over gasoline prices, accusing the industry of failing to pass lower crude costs on to consumers.
• Investors will also be tracking Micron's earnings report due after the closing bell and commentary from Qualcomm’s Investor Day event. 

U.S. stock futures traded mostly higher, recovering slightly from a late-session semiconductor selloff. Geopolitical friction weighed on sentiment after President Trump slammed a Senate War Powers Act vote on Iran. 

Crude oil extended losses as immediate supply-disruption fears eased around the Strait of Hormuz. On the other hand, a fresh DOJ probe is targeting gasoline price gouging by major energy companies. Oil stocks such as Chevron Corp. (CVX), Exxon Mobil Corp. (XOM) and ConocoPhillips (COP) trended lower in early premarket trade. 

As of 4:00 a.m. ET, Dow futures fell 0.1%, but Nasdaq futures were up 0.6%, S&P 500 futures gained 0.2%, and Russell 2000 futures were up 0.1%.

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

Meanwhile, markets are still digesting the Federal Reserve’s hawkish shift from last week’s meeting. The U.S. dollar remains near a 13-month high, gold has retreated, and treasury markets are flashing caution signals. Analysts at Erste Group said uncertainty surrounding inflation remains elevated, which, combined with expansionary U.S. fiscal policy, could push longer-term Treasury yields higher in the coming months. 

Despite the recent volatility, investors continue pouring money into U.S. equities. According to data highlighted by Barchart, U.S. stocks attracted roughly $884 billion of inflows over the last 12 months, the largest annual inflow on record and more than double the previous peak. 

Trending Stocks To Watch

SpaceX (SPCX) stock remains in the spotlight after the company announced pricing for its inaugural $25 billion bond issuance. 

AST SpaceMobile (ASTS): Gained ground following comments from Rakuten’s CEO calling AST’s satellite push "critical" for Japan's national security amid rising competition with SpaceX.

Micron Technology (MU): Stock rose 5% in early premarket trade as retail investors position ahead of its highly anticipated after-hours earnings report, looking for signs of sustained AI-driven memory demand.

Alphabet (GOOGL) will officially join the Dow Jones Industrial Average on Monday, replacing telecom giant Verizon (VZ).

Qualcomm (QCOM) stock rose 4% in early premarket trade ahead of its Investor Day event. Investors are watching for updates on the company's data-center ambitions and custom chip initiatives. Meanwhile, reports suggest that Qualcomm is in talks to provide chip design services to ByteDance, a move that could diversify its revenue beyond smartphones.

Taiwan Semiconductor (TSM): Marginally rose on reports that the chip manufacturer is implementing broad foundry price increases to fund its aggressive international capacity expansion.

Alibaba (BABA): Stock fell 1% in early premarket trading following reports that the Chinese e-commerce giant has officially sued the Pentagon, demanding its removal from a U.S. military-linked blacklist.

Palantir Technologies (PLTR): Slid to a fresh 52-week low, heading for its worst trading month ever, as prominent investor Michael Burry said that the stock remains in a downtrend with no technical signals that the stock has found a bottom.

Cerebras Systems (CBRS): Tumbled 11% in early premarket trade after its first post-IPO quarterly earnings report revealed a wider-than-expected adjusted loss and a weak Q2 margin outlook.

GameStop (GME): CEO Ryan Cohen announced he would personally put up $500 million to back an acquisition bid for eBay (EBAY) while simultaneously withdrawing his own corporate performance award.

ImmunityBio (IBRX): Climbed in early premarket trading as retail momentum builds around its expected inclusion in the widely tracked Russell 1000 Index.

Other tickers trending on Stocktwits at the time of writing included Wendy’s (WEN), Visa (V), Keel Infrastructure (KEEL), BlackBerry (BB), and Infleqtion (INFQ). 

Other Catalysts To Watch

On the economic front, investors will be tracking the new home sales data release at 10:00 am ET. 

On earnings radar, watch out for quarterly reports from Paychex (PAYX), Walgreens Boots Alliance (WBA), McCormick & Co (MKC), MoneyHero (MNY), NovaGold (NG), and Daktronics (DAKT) before the bell. Micron Technology (MU), Jefferies (JEF), MillerKnoll (MLKN), H.B. Fuller (FUL), and Trip.com (TCOM) report after market close today.

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