Retail sentiment on Stocktwits remained ‘bullish’ on SPY and moderated to ‘neutral’ on QQQ.
- Wall Street starts the week with the S&P 500 coming off three straight weekly gains.
- Investors turned to a packed week of retail earnings, Fed minutes and fresh signals on AI infrastructure spending.
- A Stocktwits poll also showed nearly half of participating retail traders expecting the S&P 500 to rise more than 1% this week.
U.S. stock futures were mixed early Monday as Wall Street began a new week with investors eyeing a whole host of retail earnings, fresh Federal Reserve minutes, and rising debate over AI-sector capital expenditures.
The cautious start follows a third consecutive weekly gain for the S&P 500. A Stocktwits poll also showed nearly half of participating retail traders expecting the S&P 500 to rise more than 1% this week.
This week, Home Depot, Target, and Walmart earnings will test U.S. consumer spending amid the ongoing inflationary pressure. Meanwhile, Brent crude approached $89/barrel as tensions simmered over the Strait of Hormuz. The Memorandum of Understanding between the U.S. and Iran, drafted to contain the escalating conflict between the two countries, is set to expire on Monday and looks unlikely to be extended.
As of 4:00 a.m. ET, Nasdaq futures rose 0.5%, S&P 500 futures rose 0.1%, Dow futures fell 0.1%, and Russell 2000 futures were flat with a negative bias.
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 ‘bullish’, and Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, has moved to ‘neutral’ from ‘bearish’ last week.
AI Spending Back In Focus
Nvidia (NVDA) is reportedly in talks to invest as much as $3 billion in SoftBank’s SB Energy, which is developing an Ohio data-center campus for OpenAI.
Broadcom (AVGO) shares rebounded over 1% in early premarket trade after a selloff on Friday, when a Bank of America note highlighted potential off-balance-sheet financing associated with AI chip deals.
SanDisk (SNDK) and Micron Technology (MU) are among premarket movers on Monday. MU got an upgrade from New Street to ‘Buy’ with a $1,250 target. The setup is also getting a boost from South Korea: the KOSPI jumped 2.4% Monday.
Alphabet (GOOGL): Shares rose nearly 1% in early premarket trade on reports that it is considering its first Australian-dollar bond offering to support its AI spending.
Meanwhile, Anthropic is reportedly projecting $200 billion in revenue by 2028.
Tech Stock Watch
Intel (INTC): Investor Dan Niles reiterated that Intel remains his favorite chip bet, adding that the AI infrastructure rally could have at least another year to run.
AMD (AMD): Tiger Global disclosed a new position while trimming several megacap technology holdings.
Apple (AAPL): Commerce Secretary Howard Lutnick said over the weekend that the Trump administration does not want Apple to source memory chips from Chinese manufacturers. Reports have said Apple has tested memory from China’s CXMT and Yangtze Memory Technologies.
Alibaba (BABA) shares rose nearly 1% in early premarket trade after reportedly agreeing to sell its Lingxi Games unit for more than $1.5 billion to double down on AI. Meanwhile, data showed Alibaba’s Qwen models surpassed 3 billion global downloads over the past six months, intensifying competition with Meta and Alphabet.
Netlist (NLST): Retail traders are watching after the company launched new patent-infringement proceedings involving Micron, Supermicro, HPE and Lenovo.
Space Stocks Stay Hot
SpaceX (SPCX): Regulatory filings revealed Harvard allocated over half of its $4.26 billion public equity portfolio into SPCX. Meanwhile, UBS issued a note projecting the firm could generate nearly $400B in annual revenue by 2030 if Starship unlocks the next phase of connectivity and AI infrastructure.
Intuitive Machines (LUNR) remains on the retail radar despite Cantor Fitzgerald and B. Riley cutting their price targets Friday.
Rocket Lab (RKLB) shares rose 1.5% in early premarket trade after confirming that the first eight satellite platforms it built for MDA Space successfully reached orbit Saturday from Cape Canaveral.
Trending Stocks
Capricor Therapeutics (CAPR), Sellas (SLS) and ImmunityBio (IBRX) are drawing attention after Goldman Sachs established a new $75 million combined stake across the three biotech names ahead of major clinical catalysts.
AstraZeneca (AZN) is also worth watching after the company announced Monday that it is discontinuing its late-stage oncology trial pipeline.
Hims & Hers (HIMS): Oscar Health CEO Mark Bertolini said the insurer is talking with Hims and other companies about offering retail drugs through Oscar’s Lucie consumer marketplace.
Other tickers trending on Stocktwits at the time of writing included Infleqtion (INFQ), Baidu (BIDU), and Sarepta Therapeutics (SRPT).
What Else To Watch Monday
On the economic front, the July Fed meeting minutes on Wednesday will be the week’s bigger macro catalyst.
On the earnings front, H World Group (HTHT), Fabrinet (FN), XP (XP), and Flexsteel Industries (FLXS) are among some companies reporting today.
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