Stock futures declined Monday after President Donald Trump said the U.S. would charge a 30% tariff on goods from the European Union and Mexico beginning Aug. 1.
These stocks were poised to make moves Monday:
Boeing gained 2% in premarket trading. A fuel switch malfunction likely caused last month's fatal crash of Air India flight 171, according to a preliminary report from India's Aircraft Accident Investigation Bureau. The accident doesn't appear to have anything to do with aircraft design or manufacturing. The report said there were "no recommended actions" for Boeing or GE Aerospace, which manufactured the jet's engines. GE shares fell slightly in premarket trading.
Strategy rose 3%, Coinbase gained 1.5%, and Robinhood was up 1.9% as the Bitcoin-related stocks followed the world's largest cryptocurrency higher. At last check, Bitcoin has gained 4% to $122,418 over the past 24 hours. It set a record high of $122,873 earlier, according to CoinDesk.
Nvidia was rising 0.5% in premarket trading. Shares of the artificial-intelligence chip maker closed up 0.5% on Friday at $164.92, a record high. It ended last week with a gain of 3.5%. CEO Jensen Huang will be in Beijing on Wednesday. The next catalyst for Nvidia could be securing permission to sell AI chips to China again.
Tesla rose 1%, extending gains from Friday. Shares of the electric-vehicle maker, however, finished last week down 0.6% and has declined 22% this year.
Alphabet's Google was down 0.5% in premarket trading after agreeing to pay about $2.4 billion in a deal to license the technology of artificial-intelligence coding start-up Windsurf and hire its CEO and some of its employees, The Wall Street Journal reported, citing people familiar with the matter. The Windsurf employees being hired will focus on agentic coding within Google's DeepMind division. The Alphabet unit won't taking a stake in Windsurf, according to the Journal.
The Kraft Heinz Company gained 2% in the premarket session after the Journal reported the packaged-food company was considering spinning off part of its grocery operation into a business valued at as much as $20 billion. The rest of the company would be focused more on products such as Heinz ketchup, Grey Poupon mustard, and other sauces and spreads. The stock rose 2.5% Friday after the report was published.
Reports are expected later in the week from JPMorgan Chase, Wells Fargo, Citigroup, BlackRock, JB Hunt Transport, Johnson & Johnson, Bank of America, Goldman Sachs, Morgan Stanley, ASML, Taiwan Semiconductor Manufacturing, Netflix, GE Aerospace, Abbott Laboratories, Pepsi, American Express, Charles Schwab, and 3M.