Stocktwits data shows that retail sentiment is split, with investors turning ‘neutral’ on SPY, but ‘extremely bullish’ on QQQ.
- Wall Street futures rebounded after Friday’s selloff, with investors turning their attention to earnings from Tesla, Alphabet and other market heavyweights this week.
- Lockheed Martin stock rose in premarket trading after the company unveiled two new defense systems aimed at strengthening its counter-drone and missile defense capabilities.
- AMC Entertainment Holdings is set to post its quarterly results later in the day.
U.S. stock futures climbed early Monday, with all three major indexes trading higher as investors looked to rebound from last week’s losses, brushing aside escalating tensions in the Middle East. Market focus shifted to a busy week of corporate earnings, with results due from heavyweight companies including Tesla (TSLA), Alphabet (GOOG, GOOGL), and General Motors (GM), among others.
As of 06:00 am ET, Nasdaq futures rose 0.7%, S&P 500 futures gained 0.35%, Dow futures were up 0.3%, while the Russell 2000 futures edged 0.34% higher.
Wall Street ended Friday in negative territory, with the Nasdaq crashing 1.4%, the S&P 500 slumping 1%, and the Dow Jones Industrial Average shedding 0.8%. The S&P 500 and the Nasdaq recorded their biggest weekly decline in four weeks.
On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, changed to ‘neutral’ from ‘bearish’ over the past 24 hours, while the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100 Index, remained in the ‘extremely bullish’ territory.
Trending Stocks To Watch
Lockheed Martin (LMT): The stock rose in premarket trading on Monday after the company unveiled two new defense systems to strengthen its counter-drone and missile defense capabilities. Lockheed Martin 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.
Occidental (OXY), Exxon (XOM) and Chevron (CVX): The oil firms gained as crude prices remained elevated over continued hostilities between the U.S. and Iran. At the time of writing, Brent crude futures traded 0.5% lower at $82.5 per barrel, after climbing to its highest level in over a month earlier in the session.
eBay (EBAY): GameStop converted its large eBay investment into direct ownership, giving it a 9.8% stake and voting rights. According to an SEC filing on Friday, GameStop now owns 43.39 million eBay shares, valued at nearly $4.9 billion. Meanwhile, Michael Burry said 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.
Other tickers trending on Stocktwits at the time of writing included Xeris Biopharma Holdings Inc (XERS), Amentum Holdings Inc. (AMTM), Coca-Cola Co (KO), and WhiteFiber, Inc. (WYFI).
Later in the day, AMC Entertainment Holdings (AMC) is set to post their quarterly results.
Also read: GOOGL, MSFT, AMZN Stocks Rise Premarket: Analyst Says China’s Kimi K3 AI Fears ‘Misplaced’
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