Retail sentiment remained constructive. Stocktwits data showed traders continued to maintain a ‘bullish’ stance on SPY and ‘neutral’ on QQQ.
- Fresh escalation between Israel and Iran sent crude oil prices higher and reignited inflation concerns ahead of key CPI and PPI reports this week.
- Investors are also tracking major AI-related catalysts, including Apple's WWDC, Oracle earnings this week, and Nvidia's latest tie-ups.
- Eli Lilly unveiled new obesity-treatment findings for Foundayo and retatrutide.
U.S. stock futures were mixed early Monday as investors weighed the escalating geopolitical tensions in the Middle East amid the lingering aftershocks of Friday’s massive tech selloff and the rout in Asian markets today.
Sentiment remains frayed after Iran launched its first direct missile barrage at Israel since April’s ceasefire, retaliating for an Israeli airstrike in Beirut. Israel has reportedly responded early Monday with airstrikes on Iranian petrochemical facilities. While President Donald Trump indicated he still expects U.S.-Iran negotiations to continue and suggested the latest attacks would not derail a potential agreement.
The escalation has sent crude oil and US Treasury yields spiking, threatening to reignite sticky inflation pressures ahead of this week’s CPI and PPI reports.
The cautious rebound follows Friday’s sharp sell-off, which snapped the S&P 500's nine-week winning streak and saw the Nasdaq suffer its largest single-day point decline on record, as a stronger-than-expected May jobs report reignited concerns about interest rate cycles.
As of 4:00 a.m. ET on Monday: Nasdaq futures rose 0.6%, S&P 500 futures were up 0.2%, Dow futures were down 0.2%, while Russell 2000 futures gained 0.7%.
Retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, remained in ‘bullish’ territory, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has remained ‘neutral’.
Trending Stocks To Watch
Nvidia (NVDA): The AI behemoth has announced a massive trio of South Korean partnerships with SK Hynix, SK Telecom, and Naver to secure advanced memory chips and build out gigawatt-scale AI factories.
Apple (AAPL) is gearing up to showcase its AI offerings, among other updates, at its Worldwide Developers Conference, which begins today in California.
Oracle Corp. (ORCL): Drawing retail interest ahead of its Q4 earnings release on Wednesday, supported by a string of Wall Street price target hikes.
Marvell Technology (MRVL): Stock rose 8% in early premarket trade, along with Flex Ltd. (FLEX), after S&P Dow Jones Indices announced both firms will officially join the benchmark S&P 500 index prior to the June 22 opening bell.
Solidion Technology (STI): A new $35 million above-market private placement with an institutional investor is driving gains, with the stock soaring 22% in early premarket trade on Monday.
SpaceX (SPACZZX): In the spotlight ahead of its historic $75 billion IPO this Friday, boosted by billionaire Ron Baron placing a fresh $1 billion order and projecting the company will hit a $10 trillion valuation within 15 years.
Meanwhile, other space stocks such as AST Spacemobile (ASTS), Intuitive Machines (LUNR) and Rocket Lab (RKLB) rose between 1% and 2% in early premarket trade even as analysts flagged concerns that SpaceX’s launch dominance could eventually influence competition across satellite communications and other space businesses.
Eli Lilly (LLY): The stock is trending on Stocktwits, rising 4% in early premarket trade after robust trial data at the American Diabetes Association’s annual meeting (ADA) showed that its oral GLP-1, Foundayo, drove significant weight loss across all menopause stages, while its triple-agonist, retatrutide, demonstrated strong efficacy in treating obesity-related complications.
Paramount Skydance (PSKY) & Warner Bros. Discovery (WBD): Reports suggest that PSKY is considering divesting its kids' channels to appease EU regulators over its WBD acquisition, even as California and New York prepare lawsuits to block the merger.
Sable Offshore (SOC): IStock rose 9% in early premarket trade following disclosures that it proposed a West Coast Strategic Petroleum Reserve in California in alignment with the Trump administration's infrastructure goals.
Lululemon (LULU): In his latest Substack post, "Big Short" investor Michael Burry doubled down on his position, citing overlooked underlying financial strength and temporary tariff impacts.
Other tickers trending on Stocktwits at the time of writing included Nebius Group (NBIS), Trade Desk Inc. (TTD), Infleqtion Inc. (INFQ), and ASML Holdings (ASML).
Other Catalysts To Watch
On earnings radar, watch out for quarterly reports from Campbell Soup (CPB) and Duluth Holdings (DLTH), among others, before Monday’s opening bell.
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