Pre-Bell｜Wall St Futures Climb; DJT Soared 18%; Micron Surged 13%; Lululemon Up 7%; Birkenstock Dropped 9%

01 Stock Market

As of Dec 18, U.S. stock index futures are showing a constructive bid across benchmarks. Dow futures rose 0.24% to 48,355.00, S&P 500 futures increased 0.47% to 6,810.50, and Nasdaq 100 futures advanced 0.82% to 25,103.25. The tech-heavy Nasdaq 100 leads as AI-linked chip momentum improves, while broader futures reflect a steadier tone ahead of macro and regulatory headlines. Overall, the futures curve implies a firmer open, with AI demand narratives supporting semis and megacaps.

Notable Stock Movers: Micron, NVIDIA, Tesla, and Lululemon drew pre-market attention. MU up 12.32% at $253.31; NVDA up 1.21% at $173.00; TSLA up 1.58% at $474.66; LULU up 6.80% at $222.00. Other majors were constructive: TSM up 1.73% at $281.76; AMD up 1.36% at $200.80; ORCL up 0.99% at $180.22. Selected names showed idiosyncratic moves: DJT up 18.05% at $12.36; SOC up 45.64% at $7.69; PYPL fell 1.63% at $59.20. These quotes highlight AI demand tailwinds, activist catalysts, and regulatory sensitivity.

Market-linked ETFs reinforced the bid across tech and momentum proxies. SOXL up 6.22% at $38.25; TQQQ up 2.61% at $50.69; QQQ up 0.89% at $605.75; SOXS fell 6.36% at $3.52. Communication platforms and streaming names were firm: GOOGL up 1.18% at $300.23; GOOG up 1.09% at $301.31; META up 0.54% at $653.00; NFLX up 0.30% at $95.07. AAPL was flat at $271.84, consistent with a cautious tone in megacaps as investors parse incremental product, policy, and litigation signals.

02 Other Markets

• 10-year U.S. Treasury yield fell 0.33%, to 4.14%.

• U.S. Dollar Index rose 0.1098% to 98.50.

• WTI crude oil futures fell 0.02% to 55.80 USD/barrel; COMEX gold futures fell 0.43% to 4354.90 USD/ounce.

03 Key News

Federal Trade Commission opened a probe into Instacart’s AI pricing tool, pressuring shares. The agency issued a civil investigative demand seeking information on Instacart’s Eversight pricing software amid concerns about price variability among shoppers. Instacart said it has been working to align online and in-store pricing; the opening of a probe does not imply wrongdoing.

Elliott Management built a stake in Lululemon and is pushing a new CEO candidate, lifting shares. The activist investor amassed a position exceeding $1 billion and is reportedly working with Jane Nielsen as a potential CEO pick. The move follows Lululemon’s leadership transition and signals a push for operational and strategic changes to accelerate a turnaround.

Micron forecasted adjusted profit and revenue well above expectations, propelling memory-chip peers. The company guided to stronger results on tight supply and booming AI data-center demand, highlighting HBM leadership and production realignment toward AI. Management noted AI-driven margins are improving, which supports broader memory pricing dynamics and peer sentiment.

Coinbase announced expansion into stock trading and event contracts and plans tokenized stocks. Partnering with Kalshi, Coinbase aims to offer a wide set of real-world outcome contracts while navigating varied state policies. The strategy diversifies beyond crypto trading, positioning the platform to consolidate assets under one roof and attract new users.

OpenAI reportedly held preliminary talks to raise tens of billions at around a $750 billion valuation. The discussions underscore persistent capital needs for compute and model scaling as AI competition intensifies. Investors are weighing valuation against evidence of demand, while major partners such as NVIDIA and Oracle have signed multibillion-dollar AI deals with the firm.

Insmed discontinued development of a sinus drug after a mid-stage study failed to show benefit. Brensocatib did not improve symptoms in chronic rhinosinusitis without nasal polyps versus placebo; safety was acceptable with no new signals. Insmed said it will present data at a future meeting and is advancing INS1148 in lung and immune diseases.

U.S. administration signaled plans to reclassify marijuana, boosting cannabis-related equities. A prospective executive action to ease federal restrictions could lower industry taxes and improve funding access, pending DEA review. Market interest has focused on potential implications for companies including Canopy Growth, Cronos, and Tilray.

Medline completed a major IPO and shares surged, turning it into one of the largest recent listings. The medical-surgical supplier priced shares at $29 and saw strong demand, with proceeds earmarked to reduce leverage toward a lower net debt-to-Ebitda ratio. Private-equity sponsors retain significant voting power as the company targets high-single-digit net sales growth.

A long-time NVIDIA director sold shares worth roughly $44 million, drawing attention to insider activity. The disposal came from a stake held for decades, with continued significant ownership remaining via a trust. Investors typically assess insider transactions in the context of long-term holdings and overall AI demand for NVIDIA’s processors.

Oracle disputed reports of a funding withdrawal for its Michigan data-center project, stating talks are progressing. The company said negotiations with its development partner for equity financing continue on schedule, countering concerns tied to AI infrastructure capital needs. The clarification aims to reduce uncertainty around Oracle’s buildout plans related to AI workloads.

Shares in Birkenstock dropped 9% in premarket U.S. trading after the shoemaker said it expects trade tariffs to weigh on its profit margins in its new fiscal year, and also expects a slowdown in revenue growth.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.