Pre-Bell | Nasdaq Futures Jump 1.3%; Big Tech, Chinese ADRs, Crypto, and Quantum Computing Stocks Rise; Rare Earths, Gold Shares Drop

Stock futures jumped on Monday after U.S. and China officials cooled tensions over the weekend, laying the groundwork for President Donald Trump and China President Xi Jinping to clinch a trade deal this week.

Market Snapshot

At 8:22 a.m. ET, Dow Jones Industrial Average futures added 220 points, or 0.5%. S&P 500 futures climbed 0.8% and Nasdaq 100 futures were up 1.3% with chip stocks like Nvidia leading the way in early trading.

Pre-Market Movers

Big tech stocks jumped in premarket trading. Micron Technology up 3%; Advanced Micro Devices, NVIDIA, Palantir Technologies Inc., Alphabet up 2%; Tesla Motors, Apple up 1%.

Chinese ADRs jumped in premarket trading. Baidu up 5%; Direxion Daily FTSE China Bull 3X Shares up 4%; Alibaba up 3%; PDD Holdings Inc, NIO Inc. up 2%.

Crypto stocks jumped in premarket trading. SharpLink Gaming, BitMine Immersion Technologies Inc. up 6%; Bitfarms Ltd. up 5%; Strategy up 4%; Coinbase Global, Inc. up 2%.

Quantum computing shares jumped in premarket trading. Arqit Quantum Inc. up 6%; D-Wave Quantum Inc. up 5%; IONQ Inc. up 4%; Rigetti Computing up 3%.

Avidity Biosciences surged 44% to $70.60 in premarket trading after Swiss drugmaker Novartis agreed to buy the biotech company in a deal valued at around $12 billion. Novartis will pay $72 a share in cash for the San Diego-based Avidity, roughly a 46% premium to Avidity's closing price on Friday of $49.15. Avidity's drugs include late-stage therapies for the treatment of neuromuscular diseases. The deal has been approved by the boards of both companies.

Gold miner Newmont Mining dropped 5% after plummeting 6.2% on Friday. Bullion prices tumbled last week, with many investors opting to take profits after a stellar recent run for the precious metal.

GameStop gained 5% ahead of the opening bell. The videogame retailer could be benefiting from the meme-stock frenzy that has boosted Beyond Meat in recent days. Meme stocks are stocks that rally or slump because of their popularity on investing forums like Reddit's Wall Street Bets, rather than due to news or changes in their underlying fundamentals.

Keurig Dr Pepper rose 4.7% after third-quarter profit and sales rose from a year earlier and the beverage company boosted its fiscal-year sales outlook.

Market News

Bessent Says China to Delay Rare Earths Rules by a Year, Buy U.S. Soybeans

U.S. Treasury Secretary Scott Bessent said on Sunday that he anticipates that China will revive substantial purchases of U.S. soybeans for several years and will delay its expanded licensing regime for rare earths by a year and re-examine it after two days of trade talks in Malaysia.

Bessent told the CBS program "Face the Nation" that the soybean purchases would be substantial. Bessent said on ABC's "This Week" program that when President Donald Trump and President Xi Jinping announce a trade deal next Thursday U.S. soybean farmers "will feel very good about what's going on both for this season and the coming seasons for several years."

Following Bessent's comments, USA Rare Earth Inc. stock fell 7% in premarket trading on Monday. MP Materials Corp. retreated by 5% and Energy Fuels dropped 4% before the bell on Monday.

Gold Extends Drop as US-China Trade Progress Erodes Haven Demand

Gold fell — extending its first weekly drop since mid-August — as progress on a US-China trade deal sapped haven demand.

Bullion declined as much as 2.1% to near $4,025 an ounce. The US and China signaled they were nearing completion of a sweeping deal as President Donald Trump visits Asia for a series of diplomatic engagements. An agreement may ease some of the economic risks and geopolitical tensions that have bolstered the precious metal.