S&P 500, Nasdaq 100 and Dow futures are softer to flat in the initial pre-7:00 capture as traders wait on Nvidia earnings, Jackson Hole, Iran sanctions headlines and U.S.-Canada trade tension; gold, copper, natural gas and crypto-linked equities are active while software, utilities and selected health-care names show pressure.

Nasdaq 100 futures are lower and AI-linked semiconductor/software names are active ahead of Nvidia earnings and this week policy event. Why it matters: The setup tests whether AI capital spending and high-duration technology valuations can keep supporting mega-cap breadth while yields remain elevated. What to watch: Watch Nvidia guidance, semiconductor peer reactions, software earnings from CrowdStrike/Salesforce/Okta, and the 10-year yield.

Coverage flags Iran sanctions risk and collapsed U.S.-Canada trade talks while oil and rates remain central cross-asset inputs. Why it matters: Tariff and sanctions headlines can reprice energy, steel, industrials, consumer costs and inflation-sensitive rate expectations before company news arrives. What to watch: Watch the Iran sanctions press conference, WTI/Brent, steel names, DXY, and consumer/retail margin commentary.

Bitcoin is near recent highs while gold, copper and several materials/crypto-linked operating companies screen higher. Why it matters: Positive pockets can keep single-stock opportunity alive even when broad futures are soft, especially in miners, crypto brokers and balance-sheet crypto names. What to watch: Watch BTC, gold, copper, MSTR, HOOD, FCX, ALB and GFI earnings.

Ross continues as a positive retail earnings read-through, Walmart remains a prior-session drag, and Moderna cancer-vaccine reaction is volatile after last week surge. Why it matters: The tape is rewarding or punishing company-level details rather than giving a clean sector signal, so event timing and current reaction need to stay separate. What to watch: Watch ROST follow-through, WMT stabilization, DKS/DG/DLTR/BURL earnings, and whether MRNA quote conflict resolves.

The Information reported that Nvidia is in talks to invest in Perplexity as part of a multibillion-dollar funding round valuing the AI search startup at more than $30 billion. Perplexity’s annualized revenue has surged above $750 million, while its relationship with Nvidia has deepened through collaboration on AI hardware and software. Why it matters: Nvidia is on watch ahead of its post-market earnings report on Wednesday, August 26. Analysts are looking for the company to post earnings of $2.09 per share and revenue of $91.71 billion; the revenue estimate implies year-over-year growth of 96.2%.

Sources: MarketWatch live Nvidia/Jackson Hole week-ahead coverage; TipRanks Nvidia week-ahead earnings; StockMarketWatch Nasdaq 100 premarket table; Investing.com premarket movers and cross-assets

Crypto stocks are on watch as a group following a rally that saw Bitcoin gain nearly 24% during the week of August 17-23. Bitcoin ETF inflows reached $1.9 billion over the course of that week, marking the best week for inflows since October 2025. As of 7:00 AM ET on Monday, Bitcoin is trading around the $77,300 level.

Sources: Investing.com premarket movers and cross-assets; Benzinga premarket crypto quote strip

In focus as the US prepares for what Treasury Secretary Scott Bessent calls its “single greatest financial offensive ever” against Iran, with new sanctions expected to target Tehran’s economic lifelines and potentially countries that continue doing business with the regime. The escalation comes as the 60-day ceasefire window expires,. Meanwhile, Iran has threatened to seize vessels violating transit rules in the Strait of Hormuz.

Tesla and eight other automakers will recall roughly 4.3 million vehicles in China over concerns that emergency door releases may be difficult to identify or operate after a severe crash, making it the country’s largest automotive recall. Tesla’s remedy includes warning labels and an over-the-air software update that automatically lowers windows after a collision to help occupants escape.

Sources: Investing.com Tesla China software fix item; StockMarketWatch Nasdaq 100 premarket table; Investing.com premarket movers and cross-assets

Anthropic’s bankers are reportedly discussing an IPO that could raise more than $100 billion at a valuation of roughly $2 trillion, which would make it the largest IPO ever. The AI company’s annualized revenue has surged past $65 billion from $9 billion at the end of 2025, with an IPO prospectus expected in the coming weeks and a potential listing in the months ahead. Amazon is among the companies that has invested in Anthropic.

The New York Times reported that California Attorney General Rob Bonta canceled a scheduled settlement meeting with Paramount Skydance over the company’s proposed acquisition of Warner Bros. Discovery, accusing Paramount of leaking and misrepresenting prior discussions. Why it matters: The dispute adds uncertainty to efforts to resolve California’s lawsuit seeking to block the deal, with negotiations still preliminary and no assurance of a settlement.

Trading lower premarket after its Q2 2026 earnings report, with loss of 1.29 Chinese yuan per share missing estimates of a 0.29-yuan-per-share loss. Revenue of 19.74 billion yuan similarly missed estimates of 20.57 billion yuan despite representing 8% year-over-year growth and 51.5% sequential growth. Why it matters: XPeng’s robotics unit raised over $900 million at a post-money valuation above $6.3 billion, led by IDG Capital with strategic backing from Tencent and Alibaba. This marks China’s largest private financing in embodied AI.

Sources: XPeng Q2 results via Public/PRNewswire; XPeng Q2 earnings call IR event

Trading higher premarket after its Q2 2026 earnings report. Revenue of 112.4 billion Chinese yuan missed estimates of 116.35 billion yuan despite representing 8% year-over-year growth. Adjusted EPS came in at 19.33 yuan, topping estimates of 18.22 yuan. Adjusted operating profit grew by 5%, while adjusted net income dropped by 13%; both metrics exceeded analyst estimates. Revenue in both the Online Marketing and Transaction segments grew on a year-over-year basis.

Sources: PDD Q2 results via Public/GlobeNewswire

The company has received its first production Nvidia Vera Rubin systems at its data centers, marking the start of Azure’s deployment of Nvidia’s next-generation AI platform. The rollout strengthens Microsoft’s AI infrastructure as it scales capacity for increasingly demanding workloads.

TD Cowen analysts commented that Tesla and Google’s Waymo are best positioned to scale autonomous rideshare in the US. The analyst sees Waymo leading on current safety and deployment and believes Tesla could become a major competitor if consumers accept its safety as “good enough.” The firm sees the race ultimately coming down to achieving acceptable safety at scale and low cost, keeping Google and Tesla at the forefront while Zoox, Uber/Nuro, Mobileye and Wayve remain credible challengers.

Alibaba announced a $10.2 billion share issuance to non-U.S. investors. The company said all proceeds will be used to fund AI projects, with a particular focus on expanding its AI infrastructure.