Pre-Bell｜U.S. Futures Edge Up; Oracle Jumps over 5%; Novo Gains 3%; Alphabet, Tesla Rise About 1%; Nvidia Falls Slightly

U.S. stock index futures inched higher on Tuesday after the S&P 500 and the Nasdaq closed at record highs in the previous session, as investors remained expectant about interest rate cuts from the Federal Reserve later this week.

Market Snapshot

At 7:50 a.m. ET, S&P 500 E-minis were up 9 points, or 0.13%, and Nasdaq 100 E-minis were up 46.5 points, or 0.19%; While Dow e-minis were little changed,

Pre-Market Movers

Tesla was rising 1.23% in premarket trading after shares of the electric-vehicle maker rose 3.6% on Monday following the disclosure that CEO Elon Musk purchased $1 billion of shares, his first purchases of Tesla stock in the open market since February 2020.

Alphabet was rising 0.9% after the parent company of Google closed up 4.5% on Monday to $251.61, a record closing high. The move in the stock came as Alphabet’s AI chatbot Gemini reached the top spot in the U.S. App store over the weekend, and shares have rallied since a judge handed Google a limited set of remedies to mitigate its dominance in internet search earlier this month. On Monday, Alphabet’s market capitalization closed above $3 trillion for the first time, according to Dow Jones Market Data. Alphabet joined Apple, Nvidia, and Microsoft as the fourth company on record to ever close above the milestone.

ASML stock gained over 2% in premarket trading. Dutch chip-gear maker ASML's $1.5 billion investment in French artificial intelligence firm Mistral has given a shot in the arm to Europe's AI ambitions and hopes for more regional tech sovereignty against the dominance of U.S. and Asian rivals.

Shares of Novo Nordisk gained nearly 3% in premarket trading. The WHO’s expert committee concluded that the popular GLP-1 drugs, first developed by Novo Nordisk and Eli Lilly, are part of the solution for the long-term treatment of obesity for patients with a body mass index (BMI) of 30 or above, alongside counselling on lifestyle and behaviour changes.

Oracle rose 5.4% in the premarket session, building on a 3.4% gain Monday, following speculation that the software company may be part of a deal between the U.S. and China over the Chinese social-media app TikTok. President Donald Trump wrote on his Truth Social platform that “a deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save.” It comes on the back of strong momentum for Oracle stock, following a blowout earnings report last week which sent shares up 36%.

Shares of Nvidia, the leading maker of artificial-intelligence chips, slid 0.2%. The stock closed down slightly Monday at $177.75 after China’s market regulator said a preliminary investigation found Nvidia had violated antimonopoly laws. The stock had fallen to as low as $174.51 during Monday’s session. It has risen 32% this year.

Dave & Buster’s Entertainment, the arcade-restaurant operator, was tumbling 17% after second-quarter adjusted earnings widely missed analysts’ estimates. Revenue of $557.4 million also missed forecasts and comparable sales declined 3% versus projections for a decline of 2.2%.

Chipotle Mexican Grill rose 2.1% after its board authorized a $500 million stock buyback, bringing its total share repurchase authorization to about $750 million as of Sept. 15, the restaurant chain said. Like many of its peers, Chipotle has seen its stock fall by double digits this year amid cautious consumer spending and higher costs.

Market News

US, Britain to Announce More Than $10 Billion in Deals During Trump Visit, US Officials Say

The United States and Britain plan to announce more than $10 billion in economic deals this week as part of U.S. President Donald Trump's state visit, senior U.S. officials said on Monday.

The two governments are expected to seal a trade agreement with three pillars: a new science and technology partnership to strengthen the tech sectors of both countries, cooperation in civil nuclear power, and advances in defense technology cooperation, the officials said in a telephone briefing.