Stock futures are pointing higher; Bitcoin (BTCUSD) and other cryptocurrencies are rising on the back of newly-approved U.S. legislation; Tesla (TSLA) shares are climbing ahead of its earnings later this week; Stellantis (STLA) shares are falling after the Big Three automaker said it would post a first-half loss; and a top Trump administration official said the Aug.1 tariff deadline still stands as negotiations with trading partners continue. Here's what investors need to know today.
Stock futures are moved higher in premarket trading as investors watch for more tariff developments and prepare for a busy week of earnings. Nasdaq futures are up about 0.3% after the tech-heavy index hit its fifth consecutive all-time high on Friday. S&P 500 futures are also on the rise after it gained 0.6% the prior week. Dow Jones Industrial Average futures are climbing too after it was little changed last week. The yield on the 10-year Treasury note is down to 4.37%. Gold futures are edging higher while oil futures point lower.
Bitcoin (BTCUSD) is moving higher to trade at over $118,500 after President Donald Trump signed major cryptocurrency legislation on Friday. The GENIUS Act signed Friday establishes a framework for private companies to issue stablecoins, cryptocurrencies with a value pegged to another currency or financial asset such as the U.S. dollar. Other cryptocurrencies are moving higher, with Ether gaining nearly 1% to trade at over $3,700. Shares of Bitcoin treasury Strategy (MSTR) are up 1.7% premarket, while crypto brokerage Coinbase (COIN), and mining firms Mara Holdings (MARA) and Riot Platforms (RIOT) also rise.
Tesla (TSLA) shares are up just over 1% in premarket trading ahead of the release of its earnings report this Wednesday, one of several noteworthy companies scheduled to issue financial updates this week. Google parent Alphabet (GOOG) and Intel (INTC) are among other tech firms due to release results this week. Investors will also hear from Coca-Cola (KO), General Motors (GM) HCA Healthcare (HCA), and others.
Stellantis (STLA) shares are down 2% in premarket trading after the automaker posted preliminary results showing it swung to a net loss in the first half of the year, as took a hit from tariffs, restructuring costs, and a sales slump. Stellantis suspended its full-year outlook earlier this year, citing tariff-related uncertainties. Its stock has lost nearly a third of its value so far this year.
Commerce Secretary Howard Lutnick said that the Aug. 1 deadline for tariffs to take effect remains firm. “Nothing stops countries from talking to us after Aug. 1, but they're going to start paying the tariffs on August 1,” Lutnick told CBS News on Sunday. Lutnick said that negotiations with the European Union continue ahead of 30% tariffs on the trading block. “These are the two biggest trading partners in the world talking to each other. We'll get a deal done,” he said.
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