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postUS stock futures retreated on Monday as Wall Street looked ahead to a parade of Federal Reserve speakers and a key inflation print for clues to the chances of further US interest-rate cuts.
Dow Jones Industrial Average futures slipped roughly 0.4%, while those on the S&P 500 (ES=F) inched down 0.3%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) were also about 0.3% lower, on the heels of a strong week for stocks as investors welcomed the Fed’s return to easing.
Gold (GC=F) rose to a fresh all-time high on Monday, topping $3,750 amid bets the Fed will lower rates twice more before the end of 2025. But bitcoin (BTC-USD) and other crypto tokens sank as traders liquidated over $1.5 billion in bullish wagers.
Markets are waiting for Friday’s fresh reading on the Fed’s preferred inflation gauge, the personal consumption expenditures price index, to test those wagers. A weak print is likely to lift the odds of another quarter-point cut in October. Wall Street expects PCE in September to show price pressures are persisting but remain tame enough to keep the Fed on track.
Meanwhile, investors will listen out for any other hints from a packed schedule of Fed speakers in coming days, including Chair Jerome Powell and President Trump-backed Stephen Miran. The newly installed Fed governor has promised to give details on his policy views at his appearance on Monday in New York, while Powell is slated to speak on Tuesday.
Markets were watching for any fallout from Trump’s latest immigration crackdown. On Friday, his administration said US companies will face fees of $100,000 per year for H1-B work visas, prompting the likes of Microsoft (MSFT) and Goldman Sachs (GS) to send urgent emails warning employees. Shares of megacap techs were little changed in premarket trading.
In earnings reports due later, eyes will be on Micron Technology (MU) for updates on AI-driven demand and on Costco (COST) results for a window into consumer spending.
LIVE 10 updates
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Oracle to secure TikTok’s algorithm in Trump-backed deal
As the US and China near a deal to keep TikTok running in the US, a White House official said that Oracle (ORCL) would operate the algorithm and secure the data of US users on the Chinese short-form video app.
According to Bloomberg, a preliminary divestiture deal would allow American buyers to lease a copy of TikTok’s algorithm from its parent company, ByteDance, and retrain it for US users.
Oracle would store the data from US users of the app in a secure cloud with controls aimed at keeping out foreign adversaries, including China, a White House official said. ByteDance would not have access to data on TikTok’s US users nor to its algorithm in the US.
Shares of Oracle rose 0.8% in premarket trading on Monday. Year to date, the stock is up 85%.
Read more here.
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Fed’s Powell, Miran set to speak with stocks at record highs: What to watch this week
Wall Street is bracing for a busy week of comments from Fed officials and updates on economic data after the first US rate cut of 2025 boosted stocks to record highs, notes Yahoo Finance’s Jake Conley.
Here’s what’s in focus for coming days:
Read more here.
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Good morning. Here’s what’s happening today.
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‘This isn’t your grandfather’s S&P 500’: Wall Street says stocks could keep rallying
Stocks hit fresh record highs as the Fed delivered its expected rate cut, fueling what some on Wall Street see as a short-term “honeymoon rally.” Other strategists believe there’s more room for gains.
Yahoo Finance’s Allie Canal reports:
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Premarket trending tickers: Snap, Intel and Coinbase
Here’s a look at some of the top stocks trending in premarket trading:
Snap (SNAP) stock rose 7% in premarket trading on Monday. Last week analysts from JMP Securities maintained its Market Perform rating on the company, citing strong advertiser sentiment.
Intel (INTC) stock fell 1% before the bell on Monday. Semiconductor company Nvidia (NVDA) announced a joint chip partnership and $5 billion stake in Intel (INTC) last week.
Coinbase (COIN) shares fell 3% in premarket trading following a pullback in cryptocurrencies, which saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff.
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Big Tech stocks hold steady after Trump’s visa fees crackdown
Shares in the “Magnificent 7” megacaps were little changed in Monday’s premarket as investors appear to shrug off President Trump’s big hike in fees for visas used heavily in the US tech industry.
The Trump administration said Friday that companies have to pay $100,000 per year for H-1B working visas, part of its crackdown in immigration.
That plan prompted some Big Techs and Wall Street banks to warn their employees not to leave the US or to return to the country quickly. But Apple (AAPL), Nvidia (NVDA), Microsoft, Alphabet, Amazon, Meta Platforms (META) and Tesla (TSLA), traded steady in premarket, in a range of less than 1% higher or lower.
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BYD stock falls after report Buffett sold his entire stake
BYD’s (BYDDY, 1211.HK) shares sank in Hong Kong in the wake of a report that Warren Buffett’s investment firm had dumped its stake in the Chinese EV maker.
Bloomberg reports:
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Samsung Electronics Co stock price jumps on freshly inked deal with Nvidia
Samsung Electronics Co. (005930.KS) saw its stock value pop by over 5% following the announcement that Nvidia Corp. (NVDA) has given the go-ahead for the use of advanced memory chips, a first for the Korean tech behemoth.
Bloomberg reports:
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Asian stocks waver with H1-B visa insecurity dealing blow sentiment across the region
Reuters reports:
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Gold maintains gains for fifth week as Fed cut pushes haven higher
Bloomberg reports:
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