Stock futures were rising on Monday, with investors hopeful that the economic data due out this week will strengthen the case for the Federal Reserve to cut interest rates next month.
These stocks were poised to make moves:
Tesla rose 1.7% ahead of the opening bell. CEO Elon Musk said Sunday in a post on X that the electric-vehicle maker had already designed several million artificial-intelligence chips for its cars and data centers. Tesla is close to finishing its AI5 chip, has started work on its AI6 chip, and is aiming to bring a new chip to volume production every 12 months, Musk added.
Alphabet gained 2.3%. The Google parent passed Microsoft to become the third-largest U.S. company by total market capitalization on Friday, the first time it has been above the IT giant since August 2018. Alphabet has been the clear AI winner among mega-cap tech stocks this year, with shares surging 58% thanks to four consecutive earnings beats and excitement about the launch of Google's latest large-language model, Gemini 3. Microsoft shares were 0.5% higher on Monday.
Strategy added 1.3%. The company releases a securities filing each Monday showing how many Bitcoin it purchased in the preceding seven days. If it goes a week without buying, that could be a sign uncertainty is starting to set in following a brutal selloff. The last week Strategy didn't buy Bitcoin was the period from Sept. 29 to Oct. 5.
Other crypto stocks were also rising on Monday, after Bitcoin clawed back some of its recent losses over the weekend. Online trading platform Robinhood Markets climbed 1.9%, and digital-asset exchange Coinbase Global was up 2.1%.
Eli Lilly was flat at $1,060. Shares climbed 1.6% on Friday, meaning that the company's market capitalization topped $1 trillion for the first time ever. The other U.S. companies with thirteen-digit valuations are eight tech giants and Warren Buffett's conglomerate Berkshire Hathaway.
Earnings are expected after Monday's closing bell from healthcare equipment maker Agilent Technologies, robotics company Symbotic, electronic equipment manufacturer Keysight Technologies, videoconferencing app developer Zoom Communications, and semiconductor supplier Semtech.
Alibaba, Dell Technologies, Deere, Analog Devices, Autodesk, Workday, Zscaler, NetApp, HP Inc., Dick's Sporting Goods, Best Buy, NIO, Li Auto, and Abercrombie & Fitch are among the companies that are set to report earnings later this week.
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