Pre-Bell | Dow Futures up 0.5%; PayPal Soars 17%; UPS, Qorvo Jumps 12%; UnitedHealth Rises 5%; Nvidia's Huang to Speak in Washington

S&P 500 futures were little changed Tuesday following a big rally to start the week.

Market Snapshot

At 8:22 a.m. ET, Futures linked to the broad market index traded just above the flatline, along with Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average were up 232 points, or 0.5%.

Pre-Market Movers

Amazon rose 0.8% after announcing it intends to cut 14,000 corporate jobs. "We expect to continue hiring in key strategic areas while also finding additional places we can remove layers, increase ownership, and realize efficiency gains," said Beth Galetti, senior vice president of People Experience and Technology at Amazon, in an internal memo announcing the job cuts.

United Parcel Service jumped 12% after the shipping and logistics company reported better-than-expected earnings. UPS announced third-quarter earnings of $1.74 a share on sales of $21.4 billion. Wall Street was expecting earnings of $1.32 on ales of $20.9 billion.

PayPal surged 17%. The Venmo owner beat Wall Street expectations for third-quarter adjusted earnings and revenue and raised its full-year earnings guidance. Separately, PayPal unveiled a partnership with OpenAI that will allow users to check out through ChatGPT using PayPal.

UnitedHealth, the healthcare giant, posted better-than-expected third-quarter earnings and hiked its full-year guidance. UnitedHealth's medical-loss ratio, or the share of premium revenue spent on medical claims and quality improvement, came in at 89.9%, below analysts' calls for 90.7%. The stock gained 5%.

SoFi Technologies Inc. rose 3%. The fintech posted better-than-expected earnings in its third quarter and raised its full-year outlook for the second time this year. SoFi now expects $3.54 billion in adjusted net revenue, up from previous guidance of $3.375 billion, and adjusted earnings of 37 cents a share, above prior guidance of 31 cents. Analysts were looking for $3.46 billion and 32 cents, respectively.

Qorvo shares jumped 12% after the company said it had agreed to merge with Apple supplier Skyworks Solutions in a cash-and-stock deal valuing the combined company at $22 billion. Skyworks stock was down 0.8%.

Royal Caribbean Cruises tumbled 9%, even after the cruise line beat earnings expectations and boosted its full-year guidance. Analysts were looking for a higher full-year earnings outlook. Royal Caribbean said it now expects earnings in the range of $15.58 and $15.63 a share, but this came in below analysts' calls for $15.70.

D.R. Horton declined 5%. The homebuilder reported earnings of $3.04 a share for the fiscal fourth quarter, below the $3.27 analysts had anticipated, according to FactSet. However, the company posted 20,078 orders, ahead of Wall Street's call for 19,783.

Newmont Mining stock dropped 3%. The gold miner has closed lower for two straight sessions following a sharp decline in the price of gold, putting an end to the fantastic run the precious metal has had in 2025.

Qualcomm slipped 1%. Shares of the chip maker finished the previous session up 11% at $187.68, the stock's highest close since late July 2024, according to Dow Jones Market Data. The stock were lifted by Qualcomm's announcement that it would be supplying its new artificial-intelligence accelerator chips to Saudi Arabia's Humain venture, which is building a large AI network. Qualcomm plans to deploy 200 megawatts worth of Qualcomm AI AI200 and AI250 rack solutions in Saudi Arabia and around the world beginning next year.

Qualcomm's new AI accelerators compete with systems from Nvidia and Advanced Micro Devices. Both stocks were unmoved by Qualcomm's announcement, with each closing up nearly 3% on Monday.

U.S.-listed shares of Novartis AG declined 3% after third-quarter earnings from the Swiss drugmaker disappointed.

Cadence Design reported third-quarter adjusted earnings that beat analysts' estimates as revenue rose 10% from a year earlier to $1.34 billion and topped forecasts of $1.32 billion. The company's adjusted operating margin was 47.6% for the third quarter, better than estimates and up 44.8% from a year earlier. Cadence Design also raised fiscal-year guidance, but shares fell 2% on Tuesday.

NXP Semiconductors NV gained 0.2%. The company's third-quarter earnings missed Wall Street forecasts but revenue of $3.17 billion beat estimates of $3.16 billion. NXP said it expects fourth-quarter earnings of $3.07 to $3.49 a share versus consensus of $3.28.

$Nextera Energy Inc(NEE-N)$ stock climbed 2% after Alphabet's Google agreed to buy power from a shuttered nuclear reactor that is majority-owned by the company.

Market News

Trump Says He Will Meet Nvidia CEO on Wednesday

U.S. President Donald Trump said he would meet with NVIDIA Chief Executive Jensen Huang on Wednesday.

Trump made the comment Tuesday in an address to business leaders in Tokyo before traveling to South Korea. The U.S. AI chipmaker said last week that Huang plans to meet "global leaders and top Korean executives" when he attends the Asia-Pacific Economic Cooperation CEO Summit in South Korea.

Nvidia's Huang to Speak in Washington as Investors Look for Hints on China

Nvidia CEO Jensen Huang is set to give a keynote address in the U.S. capital on Tuesday, with investors looking for clarity on what chips the artificial intelligence leader will be able to sell to the vast Chinese market. Shares up 1%.

Huang's remarks are expected at 12 p.m. EDT. President Donald Trump is touring Asia this week and is expected to meet with Chinese President Xi Jinping on Thursday. The flow of advanced technology between the two nations is likely to be at the center of trade discussions, with access to Nvidia's chips deemed a key issue.

US Signs $80 Billion Pact to Boost Nuclear Power in AI Drive

The US government agreed a $80 billion deal with Westinghouse Electric Co. to build large-scale nuclear reactors, the latest push to meet rising demand for electricity from artificial intelligence.

The strategic partnership — which also involves Brookfield Asset Management and Canadian uranium producer Cameco Corp. — aims to deliver on President Donald Trump’s AI ambitions and scale up an industry he sees as vital to competing with China. The companies said Tuesday the initiative will create tens of thousands of jobs across the country.