U.S. stock futures ticked higher on Monday, as investors looked ahead to key inflation data later in the week that could sway the trajectory of upcoming Fed interest rate decisions.
Here are some of the biggest premarket U.S. stock movers today:
Alibaba (NYSE:BABA) ADRs rose 3.3% after the Chinese technology giant released what is seen as its biggest artificial intelligence model yet, as it moves to compete with the likes of OpenAI and Google Deepmind.
Apple (NASDAQ:AAPL) stock gained 0.1% ahead of its “Awe Dropping” event on Tuesday, where it is expected to unveil its latest hardware, including the iPhone 17 lineup.
Robinhood Markets (NASDAQ:HOOD) stock gained 7.9%
and Applovin (NASDAQ:APP) stock surged 8.4%, with both companies set to join the benchmark S&P 500 index, effective September 22.
Nutanix (NASDAQ:NTNX) stock rose 3.4%, with the computer software company set to join the S&P Midcap 400 Index at the next rebalancing.
Tesla (NASDAQ:TSLA) stock rose 1.3% despite Reuters reporting, citing data from research firm Cox Automotive, that the EV manufacturer’s U.S. market share dropped to a near eight-year low in August in the face of growing competition.
Stellantis (BIT:STLAM) stock fell 0.4% after the auto giant said it will no longer pursue a target of producing only electric vehicles by 2030. The U.S. National Highway Traffic Safety Administration also said it had opened a probe into about 287,000 Chrysler minivans over concerns related to their electric power steering.
Chewy (NYSE:CHWY) stock gained 3.1% after Mizuho upgraded its stance on the pet retailer to ‘outperform’ from ‘neutral’, on valuation after the pullback off recent highs.
