US stock futures traded mostly higher Tuesday after President Donald Trump extended the date when his so-called reciprocal tariffs would take effect to Aug. 1 from July 9.
Equities tumbled Monday following Trump's posting of letters to 14 global trading partners, including Japan and South Korea, outlining tariff rates they would pay if they didn't strike trade deals.
These stocks were poised to make moves Tuesday:
Tesla was up 1.3% in premarket trading after the stock fell 6.8% on Monday. CEO Elon Musk announced over the weekend he would be forming a new political party and his foray again into politics had investors selling shares of the electric-vehicle maker. Musk was strongly opposed to Trump's tax-and-spending bill that was signed into law Friday. The legislation removes purchase tax credits worth up to $7,500 for qualifying EVs. Tesla shares, coming into Tuesday, have declined 27% this year.
Nvidia shares gained 1%. The maker of artificial-intelligence chips declined 0.7% on Monday and ended the session with a market capitalization of $3.861 trillion.
Wolfspeed rose 13.4% in premarket trading after soaring 96% in the previous trading day. Wolfspeed shocked the stock market with a major leadership shake-up as it named Gregor Van Issum as its new Chief Financial Officer and Executive Vice President, effective September 1, 2025, as per a report.
Bit Digital shares jumped another 12.6% in premarket trading. The shares surged 18% on Monday after the cryptocurrency mining company announced the completion of its transition to an Ethereum treasury strategy, significantly increasing its ETH holdings.
Amazon.com rose 0.4% in premarket trading. The company's members-only, four-day Prime Day sales event has begun and runs through July 11. For the first time since its inception a decade ago, the event is scheduled to run for four days across 20 countries, instead of the typical two days. Justin Post, an analyst at BofA Securities, said Prime Day could generate more than $21 billion in gross merchandise value, up 60% from last year.
Exxon Mobil declined 0.4% after the energy giant warned that second-quarter earnings could take a hit of $800,000 to $1.2 billion from lower crude prices and $300,000 to $700,000 from lower gas prices.
Uber Technologies was up 0.6% in premarket trading. The ride-share company closed at a record high of $96.68, rising 3.3% in the session. Analysts at Wells Fargo on Monday maintained their Overweight rating on the stock and raised their price target to $120 from $100. Uber has risen 60% this year, according to Dow Jones Market Data.
Merit Medical Systems said it expects second-quarter revenue of $380 million to $384 million, better than analysts' forecasts of $372.5 million, and named Martha Aronson as chief executive and president. She will succeed Fred Lampropoulos, who founded the company in 1987 and has been chief executive since then.
Earnings reports are expected Tuesday from Kura Sushi USA and Aehr Test Systems.
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