Stock futures were mostly higher Monday as trade talks between the U.S. and China resumed in London. Wall Street entered the trading session with the S&P 500 back above 6,000 and the Dow Jones Industrial Average in positive territory for the year following after a stronger-than-expected U.S. jobs report.
These stocks were poised to make moves Monday:
Tesla was down 2.6% in premarket trading after closing up 3.8% on Friday at $295.58. Shares of the electric-vehicle company ended the week with a loss of nearly 15%—the stock’s worst weekly decline since the week ended Oct. 20, 2023—including a 14% tumble on Thursday after the feud between Tesla CEO Elon Musk and President Donald Trump escalated. The conflict came just ahead of Tesla’s robotaxi service launch in Austin, Texas. Reports have set the date for Thursday, June 12, but Tesla hasn’t confirmed precise details.
Apple‘s Worldwide Developers Conference begins Monday and runs through Friday. The tech giant has promised to unveil a series of “groundbreaking updates” during its annual event but missing from the announcements this week will be the highly anticipated artificial-intelligence update to Siri. “Expectations are rightfully tempered this year at WWDC relative to prior years where we had more material announcements,” wrote Evercore ISI’s Amit Daryanani in a research Coming into Monday, shares of the iPhone maker have declined 19% this year. The stock was up 0.4% in premarket trading.
Robinhood Markets was falling 5.5% and AppLovin declined 5.3% after neither stock was added to the S&P 500 index on Friday, as many had suspected they would be. But S&P, Dow Jones Indices on Friday opted not to make any quarterly changes to the benchmark index.
EchoStar was falling 11% after The Wall Street Journal reported the satellite-and-wireless company was considering a chapter 11 bankruptcy filing as it looks to shield its wireless spectrum licenses from the threat of revocation by federal regulators. The Journal report cited people familiar with the matter.
Earnings reports are expected Monday from Casey’s General Stores and VinFast Auto.