NVDA, META, CRML, GLND, SPCX, RKLB, BE Stocks In Focus
Retail sentiment on SPY remained ‘bearish’, and moderated to ‘neutral’ on QQQ.
- Investors looked ahead to a high-stakes Washington summit between President Donald Trump and Chinese President Xi Jinping this week.
- Trade, tariffs, critical minerals and artificial intelligence are expected to feature prominently when the leaders meet on Thursday.
- Nvidia CEO Jensen Huang is defending continued U.S. AI investment even as Michael Burry renews warnings about the scale of hyperscaler capital commitments.
U.S. stock futures were higher early Monday as investors kicked off a week with the upcoming high-stakes Trump-Xi summit and fresh Federal Reserve commentary.
As of 4:00 a.m, ET, Nasdaq futures rose 0.8%, while S&P 500, Dow and Russell 2000 futures rose 0.5%.
However, on Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, has remained ‘bearish’, while Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, has moved to ‘neutral’ from ‘bearish.’
Meanwhile, crude oil prices eased despite Middle East tensions and Houthi strikes in Saudi Arabia. Brent crude hovered around $102 a barrel, while WTI was below $100. U.S. Central Command noted that oil and gas shipments through the Strait of Hormuz hit a six-month high over the weekend.
All Eyes On Trump-Xi Meet This Week
U.S. Treasury Secretary Scott Bessent described recent trade and AI discussions with Chinese Vice Premier He Lifeng as successful, ahead of President Donald Trump’s expected meeting with Chinese President Xi Jinping in Washington later this week. Trade, tariffs, critical minerals, and artificial intelligence are expected to feature prominently at the leaders’ meeting on Thursday.
Bessent confirmed the U.S. has proposed a formal bilateral AI dialogue and notification system with China to report national security-level AI safety incidents ahead of the Trump-Xi summit. The summit is also expected to draw some of the biggest names in technology, with Nvidia’s Jensen Huang, Apple’s Tim Cook, Microsoft’s Satya Nadella, OpenAI’s Sam Altman and Qualcomm’s Cristiano Amon reportedly expected at a White House state dinner for Xi.
Meanwhile, Anthropic is reportedly weighing the launch of a new flagship AI model to counter momentum from OpenAI’s GPT-6 Astra ahead of an expected November IPO.
The Tech Radar
Nvidia (NVDA): CEO Jensen Huang said in a weekend interview that he wants to pay employees “as much as possible” and called paying an estimated $8 billion in U.S. taxes a “privilege.” He also added that the U.S. should maintain an edge over China in advanced AI technology.
Big Tech Hyperscalers (AMZN, META, GOOGL, MSFT, ORCL): Investors are weighing warnings from “The Big Short” investor Michael Burry, who highlighted that five major hyperscalers have accumulated nearly $3 trillion in uncommenced leases and purchase commitments tied to AI infrastructure. He wrote in a weekend Substack post that those obligations could become a major risk if AI demand slows.
Micron (MU) and SanDisk (SNDK): Chinese manufacturer CXMT said over the weekend that its latest-generation platform has achieved a substantial improvement in storage density.
Apple (AAPL) has reportedly laid off some staff at its Fitness+ division as it reassesses the subscription service and its role within Apple’s broader health strategy.
Trending Stocks
SPCX (SpaceX): Its weighting in the Nasdaq-100 index more than doubles to 2.82% from about 1.28% as the quarterly rebalance takes effect on Monday.
RKLB (Rocket Lab): Shares rose nearly 2% in early premarket trade after successfully launching its 96th Electron mission over the weekend and announcing that its 97th Electron is already on the pad.
Critical Minerals (CRML), Greenland Mining (GLND) and Green Minerals (GRML): Rare earth stocks are soaring in early premarket trade after Trump announced what he described as a “permanent” U.S. security arrangement involving Greenland.
Nokia (NOK) returns to the EURO STOXX 50 index on Monday, adding to its AI-fueled momentum.
Bloom Energy (BE) shares rose over 3% in early premarket trade as it joins the S&P 500 before the open, replacing Molson Coors Beverage.
ImmunityBio (IBRX) founder Patrick Soon-Shiong teased the possibility of blockchain and tokenized stock trading through Nant, driving retail chatter on Stocktwits.
Other tickers trending on Stocktwits at the time of writing included Qualcomm (QCOM), Celsius Holdings (CELH), Helus Pharma (HELP), and eBay (EBAY).
What Else To Watch Monday
On the economic front, investors will watch for Chicago Fed President Austan Goolsbee’s speech this morning.
On the earnings front, Vinfast Auto (VFS), Anaptys Bio (ANAB), and Rezolute (RZLT), among others, report today.
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