Stock futures were rising on Monday to kick off a week in which Big Tech companies Alphabet, Microsoft, and Amazon will all report earnings and the Federal Reserve will make its next interest-rate decision.

SpaceX climbed 1% after CEO Elon Musk said in a post on X that the rocket and AI company had secured $40 billion in debt financing to buy graphics processing units.

Musk added that so-called neoclouds, which sell AI computing, would suffer "guppy-level death and consolidation" because debt markets have stopped lending to them. Shares of CoreWeave dropped 2.3%, while fellow neoclouds IREN and Nebius were down 1.9% and 2% respectively.

Shares of Brazilian companies were tumbling following a shock victory for President Luiz Inácio Lula da Silva in Sunday's presidential election. Brewer Ambev slumped 18%, oil major Petroleo Brasileiro plunged 22%, and investment management company XP Inc. crashed 47%.

Oil stocks were sliding as investors bet on a cooldown in tensions between the U.S. and Iran, which dragged down crude prices. Chevron slid 0.8%, ConocoPhillips fell 1.2%, and ExxonMobil declined 1.3%.