U.S. Stocks to Watch: MP Materials, Nvidia, AMD, Tesla, Alibaba, Fastenal, and More

Dow Jones
10/13

US stock futures rose sharply Monday after President Donald Trump softened his tone on China, posting on social media over the weekend that "it will all be fine."

Trump issued a fresh threat on Friday to hit China with new tariffs of 100%, on top of levies already in place, which sent markets tumbling.

These stocks were poised to make moves Monday:

Rare-earths miner MP Materials extended gains in the premarket session, rising 11.3% after jumping 8.4% on Friday to close at an all-time high of $78.34 after Trump said that the U.S. would retaliate against China over export controls. The Defense Department also has invested in the company as it seeks to ensure the U.S. has access to the materials, boosting the stock. MP Materials produces neodymium and praseodymium oxides, key components of magnets for high-tech products like electric vehicles and F-35 fighter jets. Coming into Monday, shares have risen 402% this year, putting them on pace for their best year on record, according to Dow Jones Market Data.

Shares of smaller rare-earth companies USA Rare Earth and Ramaco Resources rose 23.4% and 5.7%, respectively, after closing higher on Friday. Albemarle, a lithium miner, rose 6%.

Nvidia, the leading maker of chips for artificial-intelligence applications, rose 3.4% after closing down 4.9% on Friday amid the increased trade tensions between the U.S. and China. Shares fell 2.4% last week.

AMD rose 4.2% after a 7.7% drop Friday. The chip maker was the best-performing stock in the S&P 500 last week, rising almost 31%. AMD unveiled a deal last week with OpenAI to power 6 gigawatts of AI infrastructure with its graphics processing units. OpenAI, the developer of chatbot ChatGPT, also was issued a warrant for up to 160 million shares of AMD, representing about 10% of total shares.

Tesla was up 2.9%. The EV maker dropped 5.1% on Friday and 3.8% for the week. Tesla last week launched new versions of its Model 3 and Y that cost less than $40,000. A lack of affordable models, more EV competition and concern over CEO Elon Musk's politics have hit sales, particularly in Europe, and Tesla now hopes lower-priced versions of its two most popular cars can boost sales in the region.

Alibaba's U.S.-listed shares rose 4.9% following a 8.5% decline in the previous trading session. Trump's latest comments on social media about China trade relations have investors worried. Shares of Chinese tech companies Baidu and JD.com rose 4% and 2.3%, respectively, following steep losses Friday.

Protagonist Therapeutics extended gained by 2.3% in premarket trading Monday, following a 30% jump Friday. Citing people familiar with the matter, The Wall Street Journal reported that pharmaceutical giant Johnson & Johnson was in talks to buy Protagonist, in a deal that would cement the companies existing partnership. Johnson & Johnson fell 0.9%.

Fastenal, the fastener maker, is scheduled to report third-quarter earnings before the stock market opens Monday. The stock rose 4.5%.

Reports are expected later in the week from JPMorgan Chase, Wells Fargo, Bank of America, Johnson & Johnson, Goldman Sachs, Morgan Stanley, BlackRock, Citigroup, ASML, Domino's Pizza, Abbott Laboratories, United Airlines, Taiwan Semiconductor Manufacturing, Charles Schwab, Intuitive Surgical, Interactive Brokers, Bank Of New York Mellon, Travelers, CSX, American Express, SLB, and State Street.

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