US Stock Futures Rise, Dow Futures Lead Gains As Wall Street Eyes Inflation Data, AI Earnings — NVDA, TSLA, CRWV In Focus

Oil prices declined after President Donald Trump signaled that further U.S. strikes on Iran were unlikely.

• Earlier on Friday, Wall Street partially recovered from Thursday’s AI-driven sell-off, with the Nasdaq Composite and S&P 500 rising.
• Brent crude was down 0.85% while WTI dropped 0.35% at the time of writing early on Monday.
• Investors will watch preliminary U.S. wholesale inventories data, a three-year Treasury note auction and comments from Federal Reserve officials.

U.S. stock futures traded higher in early trading on Monday, with technology shares in focus following last week's volatility. Investors were also looking ahead to key inflation data and earnings reports from major AI companies due later this week.

At the time of writing, around 5 a.m. ET, S&P 500 futures were up 0.34%, while Nasdaq 100 futures gained around 0.5%. Dow Jones Industrial Average futures led the gains, advancing 0.76%.

Earlier, on Friday, U.S. markets partially recovered from Thursday’s sharp AI-driven sell-off, with chip stocks regaining ground amid renewed buying. The Dow Jones Industrial Average fell 0.46%, while the S&P 500 and Nasdaq Composite advanced 0.31% and 1.09%, respectively.

Oil Slips As Trump Signals No Fresh Iran Strikes

Oil prices fell early on Monday after President Donald Trump said he was unlikely to order further strikes on Iran, citing progress in talks to end the conflict. However, reports of attacks on ships in and around the Strait of Hormuz by both sides continued to raise concerns over supply disruptions.

As of 5 a.m. ET, Brent crude futures were down 0.85% to $97.48 a barrel, while US West Texas Intermediate (WTI) crude futures declined 0.35% to $90.51 a barrel. The decline reversed the modest gains recorded at Friday's close. 

Brent had fallen 17% last week, marking its steepest weekly decline since the start of the Covid-19 pandemic, according to a report in CNBC.

The Tech Radar

Nvidia (NVDA): Shares fell more than 5% in early premarket trading after CEO Jensen Huang acknowledged an illicit relationship with an individual suspected of being a US spy and confirmed that the company’s board had opened an investigation. The development came as shares of other chipmakers, including Intel and Advanced Micro Devices, posted modest gains. China rejected allegations linking Beijing to the controversy, with Foreign Ministry spokesman Guo Jiakun dismissing the claims as unsubstantiated and describing them as an attempt to smear the country, Bloomberg reported. The episode could also cast a shadow over the planned meeting between Chinese President Xi Jinping and U.S. President Donald Trump at the Asia-Pacific Economic Cooperation summit in Shenzhen next week, the report said.

CoreWeave (CRWV): Shares fell around 3% ahead of the neocloud provider's earnings report, due on Nov. 10. The results are expected to draw close attention amid growing concerns over the sector's debt-heavy business model. A recent decline in CoreWeave's bond prices has raised questions about the sustainability of debt-funded expansion, weighing on shares of several neocloud companies in recent weeks. Investors will focus on the company's debt levels, revenue growth, and future fundraising plans. Analysts expect revenue to rise 160% to $3.54 billion, while the adjusted loss is projected at $1.21 per share, according to Koyfin.

Tesla (TSLA): Shares rose 0.2% in premarket trading on Monday after falling nearly 1% overnight. The stock was in focus after CEO Elon Musk outlined plans to gradually phase out Cybertruck production at the company's Texas factory around mid-2027 to make room for increased Cybercab output. Musk said the existing order backlog exceeded the number of vehicles Tesla could produce before dismantling the production line around June or July 2027. Separately, Nikkei reported that Terafab is targeting a production capacity of one million wafers a month from 2032.

Trending Stocks

Caterpillar (CAT): Shares were in focus after investor Michael Burry disclosed that he had cut his bearish position in the construction equipment maker by 75%, following a sharp rise in the value of his put options. Burry said the options had gained around 300% from their initial value, prompting him to book most of the profits while retaining a smaller position. Caterpillar shares were up around 0.1% in premarket trading on Monday. In a Substack post, Burry said his put options had nearly quadrupled in value and that he had reduced the position by three-quarters. The move brought its market value broadly in line with the amount he had initially invested at the end of the second quarter.

AST SpaceMobile (ASTS): Shares fell more than 0.5% in premarket trading on Monday, despite the company highlighting progress in satellite production and preparations for the unveiling of its Blacklift rocket on Thursday. CEO Abel Avellan said production had advanced to BlueBird 51 at the company's Midland, Texas, facility, adding that work on the satellites was continuing. The reusable 20-tonne Blacklift rocket is designed to carry up to five BlueBird satellites per launch, with operations expected to begin in late 2028. The company is expected to report third-quarter revenue of $46 million, up 46% from the previous quarter and more than double the figure recorded a year earlier.

Other tickers trending on Stocktwits at the time of writing included Coinbase (COIN), Solana (WEN) and TG Therapeutics (TGTX), among others.

What Else To Watch On Monday

On the earnings front, Take-Two Interactive Software (TTWO), Skydance (SKYD), Rocket Lab USA (RKLB), AST SpaceMobile (ASTS), GoPro (GPRO), Lucid (LCID) and Trump Media & Technology Group (DJT) are among the companies scheduled to report their quarterly results.

On Monday, attention will be on the preliminary U.S. wholesale inventories data and a three-year Treasury note auction. Federal Reserve officials Michelle Bowman, Austan Goolsbee and Thomas Barkin are also scheduled to speak.

SPY, QQQ, DIA: Retail Sentiment

Retail sentiment toward the SPDR S&P 500 ETF (SPY), which tracks the S&P 500, improved to ‘neutral’ from ‘bearish’ in the past 24 hours. Sentiment toward the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, remained ‘bearish,’ unchanged during the same period. Meanwhile, sentiment toward the SPDR Dow Jones Industrial Average ETF Trust (DIA) stayed in the ‘bullish’ zone.

Also read: Bitcoin, Ethereum, XRP Whipsaw On Nvidia Scandal, Iran Tensions: Crypto Sell-Off Sparks $1B Liquidation Wave

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