U.S. stock futures climbed early Monday, with all three major indexes trading higher as investors sought to recover from last week’s broad-based losses.
Market participants largely brushed aside escalating tensions in the Middle East, pivoting attention toward a packed week of corporate earnings results from major companies.
Heavyweight names including Tesla (NASDAQ: TSLA), Alphabet (NASDAQ: GOOG, GOOGL), and General Motors (NYSE: GM) are among those scheduled to report results this week.
As of 6:00 a.m. ET, Nasdaq futures rose 0.7%, S&P 500 futures gained 0.35%, Dow futures were up 0.3%, and Russell 2000 futures edged 0.34% higher.
Wall Street ended Friday in negative territory, with the Nasdaq falling 1.4%, the S&P 500 slumping 1%, and the Dow Jones Industrial Average shedding 0.8%.
The S&P 500 and the Nasdaq each recorded their biggest weekly decline in four weeks, underscoring the fragile mood heading into a critical stretch of earnings reports.
On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (NYSE: SPY) shifted to “neutral” from “bearish” over the past 24 hours, while the Invesco QQQ Trust (NASDAQ: QQQ) remained in “extremely bullish” territory.
Lockheed Martin (NYSE: LMT) rose in premarket trading after unveiling two new defense systems designed to strengthen its counter-drone and missile defense capabilities.
The company said the new systems are designed to provide a more affordable and rapidly deployable solution, with MORFIUS X-Rotor capable of neutralizing swarms of hostile drones and PAC-3 ACE offering a lower-cost interceptor for aerial and missile threats.
Oil majors Occidental (NYSE: OXY), Exxon (NYSE: XOM), and Chevron (NYSE: CVX) gained as crude prices remained elevated amid continued hostilities between the U.S. and Iran, with Brent crude futures trading around $82.5 per barrel.
GameStop (NYSE: GME) converted its large eBay (NASDAQ: EBAY) investment into direct ownership, giving it a 9.8% stake and voting rights, according to an SEC filing published Friday.
GameStop now owns 43.39 million eBay shares, valued at nearly $4.9 billion, representing a significant shift in how the company is deploying its considerable cash reserves.
Notably, Michael Burry stated that GameStop’s current strategy no longer aligns with his original investment thesis of using its cash for disciplined acquisitions while maintaining a strong balance sheet.
AMC Entertainment Holdings (NYSE: AMC) is scheduled to post its quarterly results later Monday, adding another closely watched name to the week’s earnings calendar.
Other tickers trending on Stocktwits at the time of writing included Xeris Biopharma Holdings (NASDAQ: XERS), Amentum Holdings (NYSE: AMTM), Coca-Cola (NYSE: KO), and WhiteFiber (NASDAQ: WYFI).
