Stock futures were rising Monday as investors anticipated key inflation data in the days ahead before the Federal Reserve's latest decision on interest rates next week.
These stocks were poised to make moves Monday:
AppLovin, the maker of app-monetization technology, was rising 7.7% in premarket trading, online brokerage Robinhood Markets jumped 7.4%, and Emcor Group, a provider of construction and maintenance services, gained 2.4%, after it was announced late Friday the three stocks would be joining the S&P 500 index before the markets open on Sept. 22. The three companies will replace MarketAxess Holdings, Caesars Entertainment, and Enphase Energy in the index, according to S&P Dow Jones Indices.
Tesla, the electric-vehicle maker, was up 1.1% in the premarket session. Shares of Elon Musk's company jumped 3.6% on Friday and ended the week with a gain of 5.1% after Tesla's board asked investors to approve a new pay package for Musk that could be worth as much as $1 trillion over the next 10 years.
Broadcom gained 0.3%. The semiconductor and software company rose 9.4% on Friday to a record high of $334.89 after it announced that it had secured an artificial-intelligence order of $10 billion from a new undisclosed customer, which The Wall Street Journal reported was OpenAI, the creator of ChatGPT. Broadcom closed Friday's session with a market capitalization of $1.575 trillion, according to Dow Jones Market Data.
Shares of Nvidia, the leading maker of AI chips, were up 0.2%. The stock declined 2.7% on Friday after Broadcom landed the $10 billion agreement with OpenAI. Nvidia has closed lower six of the last seven trading days. Coming into Monday, Nvidia has risen 24% this year.
Strategy, previously known as MicroStrategy, fell 2% as the price of Bitcoin slipped to around $111,500 from above $113,000 at one point on Friday. The company is one of the largest corporate holders of Bitcoin.
Lululemon Athletica declined 19% on Friday and the stock was edging up 0.5% in premarket trading. The athleisure company on Thursday cut its fiscal-year guidance for a second time this year because of a slowdown in sales and higher tariffs. Lululemon closed Friday at $167.80, the stock's lowest close since March 20, 2020, when it closed at $165.01. Shares have dropped 56% this year.
Kenvue, the maker of pain medication Tylenol, was up 1.2% in premarket trading. The stock fell 9.4% on Friday after the Journal reported that Health Secretary Robert F. Kennedy Jr. plans to draw a link between autism and use of Tylenol in pregnant women in a report later this month. "We have continuously evaluated the science and continue to believe there is no causal link between acetaminophen use during pregnancy and autism," Kenvue said in a statement.
Apple was edging higher in premarket trading ahead of the tech giant's annual iPhone event on Tuesday. Apple is expected to announce four new iPhones at the gathering -- which it has dubbed its "Awe Dropping" event -- including a new iPhone 17 Air. The Air likely will be thinner and lighter than its base iPhone models.
Earnings reports are expected Monday from Casey's General Stores and Planet Labs.