Stock futures traded lower Monday, kicking off December after both the S&P 500 and the Dow Jones Industrial Average finished last month in record territory.
These stocks were set to make moves Monday:
Tesla Motors rose 1.6%. The electric-vehicle maker over the weekend began rolling out version 13 of its highest-level driver assistance software, Full Self-Driving. The new version "upgrades every part of the end-to-end driving network," wrote Ashok Elluswamy, Tesla's vice president of AI software, in a tweet on Saturday. FSD updates are closely watched by investors. Tesla believes it's the product that ultimately will transform the millions of Tesla vehicles on roads into true self-driving cars.
U.S-listed shares of XPeng Inc. rose 4% after the Chinese EV maker reported 30,895 vehicles in November, up 54% from a year earlier, and 29% from October. Li Auto was down 3.4% after posting deliveries last month of 48,740 vehicles, up 19% from a year earlier but down more than 5% from October. It was Li Auto's second straight sequential deliveries decline. NIO Inc. was down 0.5%. The company reported deliveries in November of 20,575 deliveries, up 29% from a year earlier but down 1.9% from October.
Stellantis NV declined 8.4% after CEO Carlos Tavares resigned, effective immediately. Shares of the Jeep maker have declined 43% this year. Wall Street has lowered earnings estimates for 2024 several times as the auto company had dealt with lower sales and bloated dealer inventories.
SUPER MICRO COMPUTER INC was down 3%, extending losses from Friday when shares of the server maker fell 6.9%. Bridgewater Associates, the world's largest hedge fund by assets, added to its holdings of Super Micro in the third quarter, according to a filing with the Securities and Exchange Commission. Including the effect of a 10-for-1 Super Micro stock split at the start of October, Bridgewater bought 1,453,270 shares in the third quarter, lifting its stake to 1,611,040 shares.
NVIDIA Corp was down 1.4%. Bridgewater sold 1.8 million shares to end the third quarter with 4.8 million shares in the leading maker of chips for artificial-intelligence applications. Coming into Monday, Nvidia shares have risen 179% this year.
Earnings reports are expected Monday from Zscaler Inc. and CREDO TECHNOLOGY GROUP HOLDING LTD.
Reports are expected later in the week from Salesforce.com, Marvell Technology, Pure Storage, Okta Inc., Box Inc, Synopsys, Hormel, Dollar Tree, Chewy, Inc., Campbell Soup, SentinelOne, Inc, Kroger, Lululemon Athletica, Hewlett Packard Enterprise, Docusign, ulta beauty, and Dollar General.
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