Retail sentiment on major ETFs such as SPY and QQQ remains mixed heading into a critical week for earnings
- Renewed selloff in precious metals weighed on broader risk sentiment.
- Investors are also bracing for a packed earnings calendar and key manufacturing data due later today.
U.S. stock futures were firmly in the red early Monday, sparked by a heavy sell-off in the commodities market, which saw gold and silver erase $10 trillion in market cap over three days. Investors also braced for a heavy week of earnings and critical manufacturing data later today.
As of 3:30 a.m. ET on Monday, Nasdaq futures were down 1%, the S&P 500 futures fell 0.7%, the Dow futures declined 0.4%, while Russell 2000 futures were down nearly 1%.
Meanwhile, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, moved to ‘bearish’ from ‘extremely bearish’ last week, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, moderated to ‘neutral’ from ‘bearish’ on Friday, amid high message volumes.
Precious metals have extended their selloff, with gold slipping below $4,500/oz, and silver under $72/oz. The iShares Silver Trust (SLV) was the top trending ticker on Stocktwits at the time of writing. SPDR Gold Shares ETF (GLD) also saw retail sentiment remaining in the ‘extremely bullish’ territory, with ‘extremely high’ levels of chatter.
Trending Stocks To Watch
Oracle (ORCL): Announced an aggressive $45 to $50 billion funding plan for 2026 to fund its cloud business. In other news, an analyst has warned that Oracle could be looking to trim its workforce by about 18% and sell its health tech unit, Cerner.
Nvidia (NVDA): CEO Jensen Huang dismissed reports that its $100 billion OpenAI investment has stalled. He reiterated that the company will make its largest investment ever in the AI startup.
Micron Technology (MU): Phillip Securities initiated coverage with a Buy rating, citing strong demand for high-bandwidth memory (HBM) products.
Tesla (TSLA): Shares fell over 1% in premarket action on Monday amid comments from Gary Black, managing partner at The Future Fund, who warned that a potential merger between Tesla and SpaceX would significantly dilute Tesla shareholders and lack clear financial justification.
Palantir (PLTR): It heads into its fourth-quarter earnings after the bell on Monday, facing its most crucial test yet on sustaining the business momentum that drove its stock over the past two years, even as retail investors bet on a strong showing.
Walt Disney Co (DIS): The company is expected to report revenue growth for the December quarter, buoyed by strong theatrical releases such as “Zootopia 2” and “Avatar: Fire and Ash.” However, any update on its CEO transition will be closely watched and likely shape investor sentiment.
Astrazeneca (AZN): The UK’s largest drugmaker officially begins trading its ordinary shares on the New York Stock Exchange today, replacing its previous Nasdaq ADR program. Additionally, its drug Imfinzi received an EU recommendation for treating early-stage gastric cancer.
Pharming Group (PHAR): Shares are in focus after the FDA issued a Complete Response Letter for its pediatric sNDA for Joenja, requesting additional dosing and testing data.
Elong Power (ELPW): Shares rocketed over 3,000% on Friday, and have garnered heavy retail attention even as the thinly-traded microcap company announced a fresh share and warrant offering.
Other tickers trending on Stocktwits at the time of writing included BMNR, ATLX, SMCI, among others.
Other Catalysts To Watch
On the economic front, traders will monitor the release of manufacturing PMI data and any update on January auto sales.
And on the earnings radar, investors will also be watching for the quarterly reports from Tyson Foods (TSN), IDEXX Labs, Aptiv, Twist Bioscience, Revvity, among others, before the markets open.
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