Pre-Bell|Stock Futures Edge Lower; Quantum Computing Stock Soars 22%; Intel Rises Nearly 2%; Nvidia Adds 1.5%

Tiger Newspress
03-17

U.S. stock index futures dipped on Monday as Treasury Secretary Scott Bessent's comments added to unease about an economic slowdown, while focus was on tariff-related signals from the Federal Reserve's upcoming meeting.

In a Sunday interview with NBC, Bessent warned that there are "no guarantees" the United States will escape a recession.

Market Snapshot

At 7:50 a.m. ET, Dow e-minis were down 161 points, or 0.38%, S&P 500 E-minis were down 13 points, or 0.23%, and Nasdaq 100 E-minis were down 19.25 points, or 0.10%.

Pre-Market Movers

Intel stock rose 1.87% in premarket trading. Intel's incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan's thinking told Reuters, in a sweeping bid to revive the ailing technology giant.

Tesla was down 0.9% in premarket trading after shares of the electric-vehicle company closed Friday up nearly 4%. Despite the jump on Friday, Tesla ended the week lower and extended its losing streak to eight consecutive weeks, its longer ever. The shares have declined 41% over the past eight weeks. CEO Elon Musk's political activities have been partly responsible for the stock's drop.

Quantum computing stocks jumped in premarket trading. Quantum Computing Inc. rose 22%; Arqit Quantum Inc., D-Wave Quantum up more than 9%; SEALSQ up 5%; IONQ Inc., QUANTUM CORP up 4%. Mizuho Securities analyst Vijay Rakesh speculated in a report that NVIDIA may provide a new quantum computing product roadmap at GTC Conference.

Nvidia rose 1.5% as the chip maker's GTC AI Conference begins Monday. Announcements are expected on future versions of Nvidia's artificial-intelligence chips after the current Blackwell generation. CEO Jensen Huang's keynote speech is scheduled for Tuesday.

U.S.-listed shares of Baidu rose 1.2% in premarket trading after the Chinese search-engine provider introduced Ernie X1, a new artificial-intelligence model. Baidu claims that Ernie X1 delivers performance on par with the AI model from rival DeepSeek at only half the price.

Norwegian Cruise Line Holdings rose 4.2% after shares of the cruise operator were upgraded to Overweight from Neutral at J.P. Morgan. Analysts left their price target unchanged at $30.

Sea Ltd stock rose 1.7% premarket. Forrest Li, billionaire founder of internet giant Sea Limited, will run for president of the Football Association of Singapore in its April elections. A spokesperson for Li confirmed his intention to run for office on Monday, telling The Straits Times that he is eager to introduce his team in the next two weeks.

Market News

Tesla Launches Free Trial of Assisted Driving Service in China

Tesla is launching a free trial of its Full Self-Driving (FSD) service in China from March 17 to April 16, the company said on its Chinese website.

The limited-time trial is available to Chinese users whose cars are equipped with compatible assisted-driving hardware and software, as well as the newest version of navigation maps, Tesla said in its statement to users.

FSD is a suite of driving-assistance technologies developed with generative artificial intelligence to cope with more complicated traffic conditions.

White House Seriously Considering Deal from Oracle to Run TikTok

The software company Oracle is accelerating talks with the White House on a deal to run TikTok, though significant concerns remain about what role the app’s Chinese founders will play in its ongoing U.S. operation, according to three people familiar with the discussions.

Vice President JD Vance and national security adviser Mike Waltz, the two officials President Donald Trump has tasked with shepherding a deal to bring TikTok under U.S. ownership, are taking the lead in negotiations, while senators have voiced a desire to be read in on any talks, two of the people said. A third person described the White House discussions as in advanced stages.

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