Morning Market Setup
| S&P 500 futures+0.1% to +0.2% | Nasdaq 100 futures+0.3% to +0.4% |
| Dow futuresAbout -0.1% | 10-year TreasuryNear 4.65% |
| WTI / Brent crudeFlat to firmer on Hormuz risk | Dollar / goldDXY firmer; gold above $4,400 |
| BitcoinNear $65.2K | Macro focusJuly CPI Wednesday |
U.S. futures are mostly higher as traders extend Friday's soft-payrolls reaction and wait for Wednesday's July CPI report. The 10-year Treasury yield is near 4.65%, while oil and Strait of Hormuz headlines keep inflation risk in view. The company tape is now led by monday.com's post-earnings decline, HPE's analyst-driven gain, Berkshire's weekend results, Apple's reported CXMT memory tests, and Barrick's results and Newmont agreement.
Sector & Theme Watch
Equity futures are mostly higher while the 10-year Treasury yield sits near 4.65% after Friday's weak July payrolls report reduced immediate rate-hike pressure. CPI, PPI, retail sales, and consumer sentiment now carry the macro baton. Why it matters: lower yields support growth and housing exposure, but a hot inflation print can quickly reverse the move. What to watch: CPI breadth, services inflation, and whether banks or homebuilders confirm the rate move.
Crude is flat to firmer and energy risk remains present as Iran adds demands around reopening the Strait of Hormuz, even while futures lean risk-on. WSJ and MarketWatch both keep the Middle East channel in the market setup. Why it matters: oil stability helps inflation expectations, while renewed supply risk can support producers and pressure airlines, freight, and restaurants. What to watch: tanker-security headlines, Iran-Oman terms, and airline margin sensitivity.
AI hardware and infrastructure stay in focus as IBD highlights Cisco, Lumentum, Coherent, and Applied Materials ahead of earnings, while Super Micro and chip-linked names are green in WSJ's premarket watch. The theme is balanced by ongoing scrutiny of AI capex and funding needs. Why it matters: traders are rewarding confirmed demand but punishing unclear returns. What to watch: Cisco orders, Super Micro margins, memory pricing, and AI spending discipline.
Rare-earth and critical-mineral exposure is active after reports that Sunrise Energy receives a conditional U.S. loan for scandium supply, with the U.S. seeking alternatives to Chinese dominance. The direct listed U.S. read-through is policy rather than company-specific news. Why it matters: government funding can reprice miners and defense-supply-chain names quickly. What to watch: U.S. listing plans, right-of-first-offer terms, and follow-on moves in domestic rare-earth producers.
Premarket Trading
Stocks in Focus
monday.com is trading about 10.6% lower after second-quarter adjusted EPS of $1.48 and revenue of $364.6 million beat expectations, but third-quarter revenue guidance of $368 million to $370 million falls short of consensus. AI-product ARR doubles quarter over quarter and reaches 17% of net new ARR. Why it matters: the reaction shows that software investors still demand forward growth even when current results beat. What to watch: the 8:30 a.m. ET call, AI monetization, enterprise customer growth, and whether the stock stabilizes after the guidance reset.
Hewlett Packard Enterprise is trading about 5.5% higher after Morgan Stanley upgrades the stock to Overweight from Equalweight and raises its price target to $69. The firm points to HPE's position in enterprise infrastructure, improving server, storage, and networking demand, and Juniper integration as growth and margin drivers. Why it matters: HPE is a liquid read on enterprise AI infrastructure beyond the largest chipmakers. What to watch: whether the gap holds, AI-server orders, Juniper synergies, free cash flow, and follow-through across DELL and ANET.
Berkshire Hathaway is trading higher in the early watch lists after weekend results show net profit more than doubling, operating earnings rising about 16%, and buybacks accelerating under CEO Greg Abel. The company also deploys cash into Alphabet and other equities. Why it matters: BRK.B is a Dow-sized sentiment read on financials, insurance, rail, industrials, and capital allocation. What to watch: whether investors reward buybacks and cash deployment despite softer Geico underwriting.
Apple is testing memory chips from China's ChangXin Memory Technologies across products including iPhones and MacBooks as it works through a broader memory-supply squeeze, according to The Wall Street Journal. Early talks focus on devices sold in China and remain politically sensitive in Washington. Why it matters: qualifying CXMT could diversify Apple's supply and affect pricing power for established memory vendors, but regulatory approval is a material hurdle. What to watch: White House clearance, whether testing becomes an order, China-only product scope, and read-throughs for Micron and SanDisk.
Barrick Mining reports second-quarter net earnings of $1.22 billion, adjusted EPS of $0.82, revenue of $5.29 billion, and gold production of 796,000 ounces, above its quarterly guidance range. Barrick also reaches an agreement with Newmont that resolves Nevada Gold Mines disputes, adds excluded Nevada properties to the joint venture, provides a $1.95 billion cash payment to Barrick, and secures Newmont's consent for the planned North American assets IPO. Why it matters: the combination of stronger operations and a clearer IPO path changes the value-unlock debate for a major gold miner. What to watch: the 11 a.m. ET call, year-end IPO timing, cost discipline, the unchanged production outlook, and the market's response to the Newmont terms.
Super Micro Computer is trading higher in premarket watch lists as traders position for Tuesday's full-year results and revisit the company's July preliminary update. Management previously pointed to a record backlog, more than $60 billion of Q4 orders, and gross margins well above prior guidance. Why it matters: SMCI is a high-beta AI-server demand gauge. What to watch: whether final revenue, margins, and backlog commentary validate the AI-infrastructure bid.
Ferguson Enterprises is scheduled to report before the open, giving traders a housing, plumbing, HVAC, and commercial-construction read as yields ease into CPI week. Kiplinger lists the company with a $3.30 EPS estimate for Monday morning. Why it matters: FERG can show whether lower-rate hopes are reaching construction distributors. What to watch: U.S. residential demand, nonresidential orders, margin resilience, and any tariff-cost commentary.
Axsome Therapeutics is scheduled to report before the open, and Kiplinger lists an expected loss of $0.89 per share. The stock sits in the active biotech lane as traders keep rewarding selective drug-development catalysts and punishing balance-sheet risk. Why it matters: AXSM is a recognizable neuropsychiatry biotech with multiple commercial and pipeline readouts. What to watch: Auvelity sales, Sunosi trends, cash burn, and pipeline timelines.
RadNet is trading about 7.9% higher on MarketBeat's premarket screen while its second-quarter call is scheduled for 10:30 a.m. ET. The company previously announced the call timing and remains tied to diagnostic imaging and AI-enabled radiology demand. Why it matters: RDNT is a healthcare-services growth read rather than a pure biotech mover. What to watch: imaging-center volume, DeepHealth adoption, reimbursement commentary, and margin guidance.
Rocket Lab is trading about 1.6% higher in premarket quote checks ahead of after-close earnings, while the stock is also carrying recent momentum from another Electron mission and a prior U.S. Space Force contract win. Why it matters: RKLB is the most liquid pure-play space name reporting today. What to watch: launch cadence, Neutron timing, backlog, cash burn, and guidance versus SpaceX-led sector expectations.
CEVA is trading about 8.6% higher on TradingView's premarket screen and is also on today's earnings-calendar sweep. The chip-IP and connectivity company gives traders a smaller-cap read on wireless, edge AI, and licensing demand. Why it matters: CEVA is a liquid-enough semiconductor mover inside a broader AI hardware bid. What to watch: royalty revenue, design wins, margin trajectory, and whether the move holds after official results detail emerges.
Alphabet is in focus after Berkshire's weekend disclosure shows a large investment in the company, while recent filings and coverage keep its AI funding needs in the market debate. The stock is not a clean premarket gainer in the audit, so the focus is event-driven. Why it matters: GOOGL is central to both AI capex and mega-cap capital-allocation scrutiny. What to watch: investor reaction to external funding, capex guidance, cloud demand, and margin tradeoffs.
More Stocks to Watch
Economic Events - ET
Earnings Today
Principal sources: monday.com results; HPE upgrade; Apple/CXMT report; Barrick results; monday.com results; HPE upgrade; Apple/CXMT report; Barrick results; NYSE calendar; WSJ market setup; MarketWatch live markets;