Pre-Bell｜US Stock Futures Rise; Alphabet Rose 4%; Alibaba Up 3%; Dell Fell 6%; XPeng Fell 4%

Futures for Wall Street's main indexes were higher on Monday, kicking off a packed week that includes AI giant Nvidia's earnings and resumption of government data releases, while Alphabet jumped after Berkshire Hathaway disclosed a stake in the company.

Market Snapshot

At 7:14 a.m. ET, S&P 500 E-minis were up 5.25 points, or 0.08%, Nasdaq 100 E-minis were up 51.25 points, or 0.2%, and Dow E-minis were down 35 points, or 0.07%.

Pre-Market Movers

Alphabet rose 4% after Berkshire Hathaway disclosed in a filing it bought $4.3 billion worth of shares in the parent company of Google in the third quarter. Alphabet made up 1.6% of Berkshire Hathaway's portfolio by the end of September. Warren Buffett's conglomerate didn't own any Alphabet shares as of the end of the second quarter. Berkshire Hathaway's class B shares gained 0.3%.

Apple slipped 1% in the premarket session following Berkshire Hathaway's disclosure that it sold $10.6 billion worth of shares in the iPhone maker in the third quarter. Berkshire Hathaway also sold $1.9 billion worth of Bank of America stock, and $1.2 billion worth of holdings of Verisign in the three months ended in September. The investing conglomerate bought holdings in insurance company Chubb valued at $1.2 billion.

Alibaba launched the public beta of its new Qwen App on Monday, marking its strongest push yet into the consumer artificial intelligence market. Alibaba shares rose 3% in premarket.

U.S.-listed shares of XPeng fell 3.7% after the Chinese electric-vehicle maker reported a loss of 150 million yuan ($20 million) on sales of Yen20.38 billion. XPeng said it had delivered 116,007 vehicles over the third quarter, slightly above the midpoint of its previous guidance of between 113,000 and 118,000 deliveries. Investors may have been taking the opportunity to lock in some profits following a strong run for the shares, which have risen 112% in 2025.

Tesla declined 0.4%. Shares of the electric-vehicle maker closed up 0.6% on Friday and snapped a three-session losing streak. The Wall Street Journal reported over the weekend that Tesla has been requiring its suppliers to exclude China-made components in the U.S. manufacturing of its cars. The company aims to switch all components to those made outside of China in the next year or two, people familiar with the situation told the Journal.

Rubrik Inc. rose 2.8% after Mizuho upgraded the stock to Outperform from Neutral and left the price target unchanged at $97.

Dell Technologies Inc. fell 5.8% to $126 as Morgan Stanley downgraded shares to Underweight from Overweight and reduced the price target to $110 from $144. HP Inc. declined 3% to $23.80 after Morgan Stanley downgraded the IT company to Underweight from Equalweight, and cut its price target on the stock to $24 from $26. Analysts said they believe the memory "supercycle" brings downside risk to hardware manufacturer earnings heading into 2026, the Fly reported.

Nvidia fell 1%, with the leading maker of artificial-intelligence chips scheduled to report its quarterly earnings after the closing bell Wednesday. The results are likely to be crucial for the broader market, as they will give investors a sense of how demand for AI is holding up amid concerns about lofty valuations.

E W Scripps jumped 13% to $3.45 following a Journal report that said Sinclair has built a roughly 8% stake in the local TV broadcaster and was vying to acquire the company. The report cited people familiar with the matter.

Market News

Morgan Stanley sees US outperforming global stocks in 2026, raises S&P 500 target

Morgan Stanley forecast the S&P 500 .SPX index to touch 7,800 by the end of 2026, about a 16% upside from current levels, amid robust earnings growth and AI-driven efficiency gains.

It sees U.S. small caps outperforming large-cap equities and cyclicals outperforming defensive sectors, driven by the Federal Reserve's dovish policy.

Jeff Bezos to co-lead AI startup in first operational role since Amazon

Jeff Bezos will serve as co-chief executive officer of a new artificial intelligence startup that focuses on AI for engineering and manufacturing of computers, automobiles and spacecraft, the New York Times reported on Monday.

The company, called Project Prometheus, has garnered $6.2 billion in funding, partly from the Amazon AMZN.O founder, making it one of the most well-financed early-stage startups in the world, the report said, citing three people familiar with the company.