Pre-Bell|U.S. Futures Dip; Crypto Stocks Shine as Bitcoin Tops $123,000; Tesla Gains 1%; NIO Jumps 5%

Tiger Newspress
14 Jul

U.S. stock index futures slipped on Monday, as President Donald Trump's fresh tariff threats targeting the European Union and Mexico dampened investor sentiment ahead of a week packed with economic data and second-quarter earnings.

Market Snapshot

At 7:50 a.m. ET, Dow E-minis were down 112 points, or 0.25%, S&P 500 E-minis were down 16.75 points, or 0.27%, and Nasdaq 100 E-minis were down 68 points, or 0.30%.

Pre-Market Movers

Crypto Stocks - Crypto stocks shined in premarket trading as as Bitcoin toppd $123,000 for the first time. BIT Mining rose 32%; Sequans Communications rose 23%; SharpLink Gaming rose 17%; Thumzup Media Corporation rose 8%; Upexi and Hyperion DeFi rose 7%; Bitfarms rose 5%; Canaan and Cantor Equity Partners rose 4%; Hut 8, Bit Digital, MARA Holdings, Riot Platforms, TeraWulf, Bitcoin Depot, and CleanSpark rose 3%; Strategy rose 2%; Coinbase rose 1%.

Tesla - Tesla rose 1.3%, extending gains from Friday. Shares of the electric-vehicle maker, however, finished last week down 0.6% and has declined 22% this year. Tesla CEO Elon Musk has teased an "epic demo" by the end of 2025, sparking buzz around Optimus as well as Cybercab, amid the EV giant's declining sales and ongoing feud with President Donald Trump.

NIO - US-listed shares of NIO surged 4.6% in premarket trading on Monday following the pre-sales of its sub-brand Onvo's flagship SUV (sport utility vehicle) L90, which sparked optimism among investors.

Boeing - Boeing gained 1.5% 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” forBoeingorGE Aerospace, which manufactured the jet’s engines. GE shares were down slightly in premarket trading.

Synopsys, Ansys - China's market regulator has conditionally approved the acquisition of simulation software company Ansys by U.S. software firm Synopsys', the State Administration for Market Regulation said on Monday. Synopsys shares jumped 3.5% in premarket trading, while Ansys rose 5.6%.

Kenvue - Shares of consumer healthcare co Kenvue rose 5.1% in premarket trading. Kenvue said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands.

Fastenal - Fastenal rose 3.1% after reporting second-quarter earnings and revenue that slightly beat analysts’ estimates.

Market News

Bitcoin Climbs to Record $123,000 as US to Debate Crypto Rules

Bitcoin surpassed $120,000 for the first time on Monday, marking a milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins for the industry this week.

Bitcoin scaled a record high of $123,153.22 before pulling back slightly to trade 2.4% higher around $122,000.

Later in the day, the U.S. House of Representatives will debate a series of bills to provide the digital asset industry with the nation's regulatory framework it has long demanded.

Nvidia CEO to Hold Media Briefing in Beijing on July 16

Nvidia CEO Jensen Huang will hold a media briefing in Beijing on July 16, an official from the company said on Sunday, marking his second visit to the country after a trip in April where he stressed the importance of the Chinese market.

Since 2022, the U.S. government has imposed restrictions on the export of Nvidia’s most advanced chips to China, citing concerns over potential military applications.

The U.S. also imposed a ban earlier this year on sales of Nvidia's H20 artificial intelligence chips to the country - which had been Nvidia's most powerful AI chip cleared for Chinese sales.

Huang's latest visit has been closely-watched in both U.S. and China. A bipartisan pair of U.S. senators on Friday sent a letter to Huang about his China trip, asking him to abstain from meeting with companies that are working with military or intelligence bodies in the People's Republic of China.

The senators also asked Huang to refrain from meeting with entities named on the United States' restricted export list.

EU Plans to Engage More With Other Nations Hit by US Tariffs

The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter.

The contacts with nations including Canada and Japan could include the potential for coordination, said the people, who spoke on condition of anonymity to discuss private deliberations.

The move comes as talks between the EU and the US have dragged on and continue to be stuck on several issues, including cars and tariff rates on agriculture.

Member states were briefed on the status of talks on Sunday.

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