Pre-Bell | Trump Expected to Announce Framework to Cut Health Costs, Novo Nordisk Slides 10%, Eli Lilly down 1%, Biogen up 5%; Alphabet up 3%; Tesla up 2%

Stock futures rose on Monday morning as the market seeks to rebound into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s AI bull run.

Market Snapshot

At 8:20 a.m. ET, S&P 500 futures rose 0.3% and Nasdaq-100 futures increased 0.5%. Futures on the Dow Jones Industrial Average were flat. The stock market is closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday. Oscar Health, Inc. up 13%; WeRide Inc. up 9%; Hesai Group up 7%.

Pre-Market Movers

Tesla rose 1.6% ahead of the opening bell. CEO Elon Musk said Sunday in a post on X that the electric-vehicle maker already had designed several million artificial-intelligence chips for its cars and data centers. Tesla is close to finishing its AI5 chip, has started work on its AI6 chip, and is aiming to bring a new chip to volume production every 12 months, Musk added.

Alphabet gained 3%. The Google parent passed Microsoft to become the third-largest U.S. company by total market capitalization on Friday, the first time it has been above the IT giant since August 2018. Alphabet has been the clear AI winner among mega-cap tech stocks this year, with shares surging 58% thanks to four consecutive earnings beats and excitement about the launch of Google's latest large-language model, Gemini 3. Microsoft shares rose 0.3% in premarket trading.

Strategy added 1%. The company releases a securities filing each Monday showing how many Bitcoin it purchased in the preceding seven days. If it goes a week without buying, that could be a sign uncertainty is starting to set in following a brutal selloff. The last week Strategy didn't buy Bitcoin was the period from Sept. 29 to Oct. 5.

Other crypto stocks also rising as Bitcoin clawed back some of its recent losses over the weekend. Online trading platform Robinhood climbed 1%, and digital-asset exchange Coinbase was up 2%.

U.S.-listed shares of Alibaba jumped 4%. The Chinese e-commerce giant said its artificial-intelligence app, Qwen, recorded more than 10 million downloads in the first week after a relaunch. Alibaba also is scheduled to report fiscal second-quarter earnings on Tuesday.

Eli Lilly fell 1%. Shares climbed 1.6% on Friday. The company's market capitalization topped $1 trillion for the first time ever. Biogen rose 5% in premarket trading on Monday.

Market News

Trump Expected to Announce 'Framework' to Cut Health Costs - Report

President Donald Trump is set to reveal the “framework” of his new health care plan aimed at addressing the rising costs associated with the Affordable Care Act.

According to a report by MS NOW, the announcement is anticipated as early as Monday at the White House, with Trump alongside Dr. Mehmet Oz, the administrator for the Centers for Medicare and Medicaid Services.

The proposal, known as the “Healthcare Price Cuts Act,” seeks to prevent spikes in ACA premiums, affecting nearly 22 million Americans as subsidies approach their expiration at the end of the year.

Novo Nordisk Slides as Ozempic Pill Fails to Slow Alzheimer’s Disease Progression in Large Trials

Novo-Nordisk A/S fell nearly 10% in U.S. premarket trading on Monday after the Danish drugmaker said a pill version of Ozempic (semaglutide) did not slow the progression of Alzheimer’s disease in two large studies that had aimed to explore a potential new use for its blockbuster obesity drug.

“The evoke and evoke+ trials did not confirm superiority of semaglutide versus placebo in the reduction of progression of Alzheimer’s disease, as measured by the change in Clinical Dementia Rating – Sum of Boxes (CDR-SB) score compared to baseline. While treatment with semaglutide resulted in improvement of Alzheimer’s disease-related biomarkers in both trials, this did not translate into a delay of disease progression,” Novo Nordisk said.