Pre-Bell｜US Futures Inch Lower After Rally; Metsera Soared 51%; Kenvue Down 4%; Coinbase And Strategy Fell 3%;

U.S. stock index futures inched lower on Monday after Wall Street's main indexes rallied to record highs in the previous session, while uncertainty around President Donald Trump's visa policies also dimmed sentiment.

Market Snapshot

At 07:35 a.m. ET, Dow E-minis were down 158 points, or 0.34%, S&P 500 E-minis were down 20 points, or 0.3% and Nasdaq 100 E-minis were down 81 points, or 0.33%.

Pre-Market Movers

Fox Corporation Class B shares rose 5.1% in premarket trading. The move came after President Donald Trump said Rupert and Lachlan Murdoch were probably going to be part of an investor group forming to own TikTok, as the popular Chinese social media app faces a potential ban in the U.S. The group also could include tech billionaires Larry Ellison and Michael Dell, Trump told Fox News on Sunday. Lachlan Murdoch is chair of News Corp, the owner of Barron's publisher Dow Jones, and also is executive chair and CEO of Fox Corp. Rupert Murdoch is chairman emeritus of News Corp and Fox.

Oracle was rising 0.7% after a Bloomberg report Friday said the database-software company was in talks with Facebook-parent Meta Platforms for a $20 billion cloud deal to provide computing power for training and deploying artificial-intelligence models. Oracle also was boosted after Trump said Friday he and his Chinese counterpart Xi Jinping finalized a deal on an American buyout of TikTok's U.S. business, though noted that certain details still needed to be worked out. White House press secretary Karoline Leavitt said Oracle will supply cloud services in the U.S. -- something it provides for the current iteration of TikTok that is available.

Crypto exchange Coinbase Global fell 3.3%, mirroring a drop in the price of Bitcoin. The world's largest crypto has declined 2.5% over the past 24 hours. Coinbase often reacts to changes in crypto prices and market sentiment, and shares have more than doubled in value over the past 12 months. Bitcoin-buyer Strategy was down 3%.

Metsera Inc. soared 51% after the Financial Times reported pharmaceutical giant Pfizer was in talks to buy the weight-loss drugmaker for $7.3 billion. As part of agreement, Pfizer would pay Metsera $47.50 a share in cash, and a further $22.50 if certain performance milestones were met, the report said, citing people familiar with the matter. It would be one of the largest deals in the anti-obesity markets, and comes after Pfizer's own weight-loss treatment flopped earlier this year. Pfizer shares rose 1.5% in premarket trading. Neither company responded to requests from Barron's for comment outside of normal working hours.

Kenvue Inc was down 4% after the Washington Post, citing people familiar with the matter, said the Trump administration was planning to link the active ingredient in its painkiller Tylenol to autism. A report that the administration was investigating the potential link between Tylenol and autism sent shares tumbling earlier this month. Barron's has reached out to Kenvue for comment.

Tesla was rising 1% in the premarket session after CNBC reported over the weekend that billionaire investor Warren Buffett has offloaded Berkshire Hathaway's stake in Chinese electric-vehicle rival BYD. Tesla shares have risen eight of the past nine trading sessions and turned positive for the year last week -- they are now up 5.5% in 2025 -- after CEO Elon Musk purchased about $1 billion worth of Tesla stock.

Shares of chip maker Intel were down 1.4%. The stock fell 3.2% on Friday but ended the week up 23% after Nvidia bought a $5 billion stake in Intel and the companies agreed to co-develop custom data-center and personal-computer chips.

Nvidia, meanwhile, fell 0.8% in premarket trading after rising 0.2% on Friday but closing the week down 0.7%. The Trump administration on Friday said it was adding a $100,000 fee for H-1B visas for skilled workers. Big Tech companies are major users of the program.

Firefly Aerospace Inc. , a space company developing rockets and other vehicles, fell 1.3% ahead of its second-quarter earnings report scheduled after the closing bell Monday. Firefly went public in August.

Premier, a provider of healthcare improvement solutions, rose 8.5% to $27.94 after reaching an agreement to be acquired by investment firm Patient Square Capital for $28.25 a share in cash, or about $2.6 billion.

Market News

T-Mobile names Srini Gopalan as CEO

T-Mobile (TMUS) on Monday named current Chief Operating Officer Srini Gopalan as the company's next chief executive officer, effective November 1.

Sievert, who took charge as CEO in April 2020, has been appointed as vice chairman. He will advise on matters of long-term strategy, innovation, talent development and external relations, the company said.

Cryptocurrencies Sink as $1.5 Billion in Bullish Bets Wiped Out

Cryptocurrency traders saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff that sent Ether and other tokens plunging.

Ether fell as much as 9% to $4,075 as nearly half a billion dollars of leveraged long positions in the second-largest token were liquidated according to data from Coinglass. Bitcoin declined 3% to $111,998 at one point. Coins like Solana, Algorand and Avalanche also dropped.