Futures Rise Modestly After Nasdaq Streak Breaks; Apple Shake-Up and Geopolitics in Focus
U.S. stock futures are modestly higher in premarket trading after the Nasdaq-100 (NDX) snapped a 13-day win streak on Monday, its longest streak since 1992. The moves came after President Donald Trump said on Sunday said the U.S. had struck and seized an Iranian-flagged cargo ship in the Gulf of Oman. This followed Iran saying it wouldn’t participate in a new round of peace talks with the United States.
The Strait of Hormuz remains closed and oil prices are flat this morning as Vice President JD Vance and a team of negotiators leave for Pakistan today to resume negotiations.
On the corporate front, Apple (AAPL) CEO Tim Cook will become executive chairman of Apple's board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple's next chief executive officer effective on September 1, 2026. Investor focus today will be on geopolitical headlines, economic data along with earnings from 3M (MMM), GE Aerospace (GE) and United Healthcare (UNH).
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are relatively flat near $87 a barrel amid uncertainty over the fate of the second round of peace talks between the U.S. and Iran. Reports suggest that Vice President JD Vance would lead the U.S. delegation to Pakistan, while Iran’s rhetoric so far indicates it is not ready for further negotiations.
- Gold (/GC) – Gold prices are down 0.5% near $4800, weighed down by a firm US dollar as lingering uncertainty over U.S.-Iran peace talks kept investors cautious, while they also looked forward to a Senate confirmation hearing for Federal Reserve nominee Kevin Warsh.
- Bitcoin (/BTC) – The Crypto Future is flat near 76,440 in premarket trading.
- VIX – The CBOE Volatility Index was up 8% on Monday and settled at 18.87 as stocks were lower.
- U.S. Dollar (/DX) – The dollar is relatively flat in the session, trading at 98.22.
Biggest Premarket Movers (as of 7 AM ET)
- UNITEDHEALTH GROUP (UNH): +7.86%
- HUMANA (HUM): +4.12%
- MSCI (MSCI): +3.89%
- CVS HEALTH (CVS): +3.11%
- D.R. HORTON (DHI): +3.04%
- TRACTOR SUPPLY (TSCO): -5.38%
- GE AEROSPACE (GE): -3.57%
- 3M (MMM): -2.91%
- NORTHROP GRUMMAN (NOC): -1.44%
- PRUDENTIAL (PRU): -1.07%
Economic Data
8:30 AM ET
- Retail Sales
10:00 AM ET
- Pending Home Sales
- Business Inventories
- Senate hearing on nomination of Kevin Warsch
2:30 PM ET
- Fed’s Waller speaks
Notable Earnings
Premarket: MMM, DHI, DHR, EFX, GE, GPC, HAL, NTRS, NOC, DGX, RTX, SYF, TSCO, UNH, VMI
Postmarket: OZK, COF, CB, EQT, IBKR, ISRG, PEGA, SON, UAL, WRB, WAL
Premarket Tomorrow: T, BA, BSX, CME, ELV, GEV, MAS, MCO, OTIS, PM, RCI, TDY, TNL, VRT, WAB
Postmarket Tomorrow: CACI, CHDN, CCI, CSX, HXL, IBM, KALU, KMI, KNX, LRCX, LVS, MTH, MOH, PKG, PTEN, QS, RJF, RS, ROL, NOW, LUV, TSLA, TXN, URI, WCN, WEX
Upgrades/Downgrades
- HSBC upgrades Intel (INTC) to Buy from Hold
- KeyBanc upgrades CrowdStrike (CRWD) to Overweight from Sector Weight
- Rothschild & Co Redburn upgrades Colgate-Palmolive (CL) to Buy from Neutral
- Wolfe Research downgrades Exxon Mobil (XOM) to Peer Perform from Outperform
- Baird downgrades Mohawk Industries (MHK) to Neutral from Outperform
- Wolfe Research downgrades Valero (VLO) to Underperform from Peer Perform
Featured Clips
KG: Broadening Market Adds Muscle to Rally, Keep Eye on Warsh Confirmation
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