U.S. stock futures were subdued early Tuesday as traders prepared for the Federal Reserve's first policy meeting under newly appointed Chair Kevin Warsh on Wednesday, where interest rates are widely expected to hold steady. The pause follows a strong rally in the previous session driven by a U.S.-Iran agreement to reopen the Strait of Hormuz, removing a geopolitical overhang that weighed on global markets for over four months. As of 4:00 a.m. ET, Dow futures were up 0.1%, Nasdaq futures fell 0.1%, S&P 500 futures were flat, and Russell 2000 futures gained 0.2%.
SpaceX Crosses $2.5 Trillion Valuation as Options Trading Launches
SpaceX stock crossed a $2.5 trillion valuation on Monday. Veteran short seller Jim Chanos warned that investors rarely profit from buying companies valued at more than 100 times revenue. Options trading on SpaceX begins today, with retail traders speculating about a potential volatility-driven gamma squeeze.
Novo Nordisk Plans China Regulatory Submission for Oral Wegovy
Novo Nordisk said it plans to seek regulatory approval in China "very soon" for its oral version of Wegovy. The company's CEO reportedly announced plans to submit the highly anticipated oral weight-loss pill for regulatory approval in China within the next few months to challenge Eli Lilly.
Tesla Faces Pressure Amid SpaceX Merger Speculation
Tesla shares were under mild pressure in early premarket trade. Ross Gerber said the EV maker is "worthless" without a formal merger with SpaceX, adding to intense retail speculation about the ultimate combination.
Rocket Lab Prepares 90th Electron Flight
Rocket Lab USA shares rose 2% in early premarket trading as the company prepares its 90th Electron flight later this week. CEO Peter Beck reiterated Rocket Lab's position as the industry's "clear number two" behind SpaceX.
AST SpaceMobile Encapsulates Satellites for June 17 SpaceX Launch
AST SpaceMobile shares gained over 1% in early premarket trade after announcing that its BlueBird 8, 9, and 10 satellites have been encapsulated inside a SpaceX Falcon 9 rocket ahead of a June 17 Falcon 9 launch.
Alibaba Unveils AI Models for Robotics Applications
Alibaba Holdings gained retail attention after unveiling a new suite of AI models designed specifically for robotics applications.
Qualcomm in Advanced Talks to Acquire Tenstorrent
Qualcomm is in advanced talks to acquire AI chip design startup Tenstorrent for an estimated $8-$10 billion, according to reports.
Dell Awarded $1.44 Billion Air Force Contract Renewal
Dell Technologies was awarded a $1.44 billion firm-fixed-price contract renewal to provide Microsoft 365 enterprise licenses and software assurance to the U.S. Air Force.
Robinhood CFO and Co-Founder Sell Millions in Stock
Robinhood edged lower in early premarket trade after regulatory filings revealed the company's CFO and co-founder sold millions of dollars in stock. The shares crossed the $100 mark on Monday after the launch of its AI trading platform.
Solidion Unveils Patented BEEP Battery Technology
Solidion Technology stock rose more than 10% in early premarket trading after the company unveiled its patented Bipolar Electrode-to-Pack (BEEP) battery technology.
Fiserv CEO Backed by Michael Burry
"The Big Short" investor Michael Burry backed the incoming CEO of Fiserv in a Substack post on Monday and revealed he bought more shares during the selloff.
Micron and SanDisk at Historic Technical Extremes
Micron and SanDisk are on the retail radar after technical indicators flagged them at historic extremes, with Micron at its most overbought in over 30 years and SanDisk at its most overbought ever.
Anthropic Remains Under White House Security Restriction
Anthropic remains on the radar as talks with Trump administration officials continue following an unprecedented White House security restriction that forced the company to take its Fable 5 and Mythos 5 models completely offline.
ADP Employment Data and Housing Starts Due Today
On the economic front, investors are tracking the release of the US ADP weekly employment change and housing starts data later today. On earnings radar, quarterly reports are expected from Uxin, Vince Holding, Waterdrop, Wiley, La-Z-Boy, and 17 Education & Technology Group, among others.
FAQ
What did Kevin Warsh's first Fed meeting decide on interest rates?
Interest rates are widely expected to hold steady at the Federal Reserve's first policy meeting under newly appointed Chair Kevin Warsh on Wednesday.
Why did SpaceX stock cross $2.5 trillion valuation on Monday?
SpaceX stock crossed a $2.5 trillion valuation on Monday, though the source does not specify the cause. Veteran short seller Jim Chanos warned that investors rarely profit from buying companies valued at more than 100 times revenue, and options trading on SpaceX begins today.
When will AST SpaceMobile launch its BlueBird satellites on SpaceX?
AST SpaceMobile announced that its BlueBird 8, 9, and 10 satellites have been encapsulated inside a SpaceX Falcon 9 rocket ahead of a June 17 Falcon 9 launch.
