S&P 500 futures are up 27 points, Nasdaq 100 futures have gained 72 points, and Dow Jones Industrial Average futures have increased by 145 points. This rise comes before the first trading session of the new month, following a late boost last Friday driven by gains in large-cap stocks.

Investors are keeping an eye on the upcoming tariffs. The U.S. is set to impose a 25% tariff on goods from Canada and Mexico starting tomorrow. Treasury Secretary Scott Bessent suggested that if Canada and Mexico match U.S. tariffs on Chinese imports, they might avoid these tariffs.

The 10-year Treasury yield has risen to 4.25%, while the 2-year Treasury yield has moved up to 4.03%.

Today's News

The announcement by President Donald Trump regarding a U.S. strategic crypto reserve has caused a temporary surge in cryptocurrency prices, with Bitcoin (BTC-USD) reaching $95K over the weekend before settling at $92.9K. Ethereum (ETH-USD) and other cryptocurrencies like XRP (XRP-USD), Solana (SOL-USD), and Cardano (ADA-USD) also experienced similar fluctuations. Stocks linked to the crypto sector, such as Coinbase Global (COIN, Financial) and Bakkt Holdings (BKKT, Financial), saw initial gains in premarket trading but later adjusted slightly lower.

Intel (INTC, Financial) shares rose by about 5% premarket following reports that Nvidia (NVDA, Financial) and Broadcom (AVGO, Financial) are conducting manufacturing tests with the company. These tests, if successful, could lead to significant manufacturing contracts for Intel, boosting its contract manufacturing business. While Nvidia's stock remained flat, Broadcom's shares increased by 2%.

Palantir Technologies (PLTR, Financial) gained 2.9% in premarket trading as Wedbush Securities expressed confidence in the company securing more federal deals. Analysts believe Palantir's software aligns well with government efficiency initiatives, potentially increasing its presence in future federal budgets.

In a significant leadership change, Kroger Co. (KR, Financial) announced the resignation of CEO Rodney McMullen following an investigation into his personal conduct. The board appointed Ronald Sargent as interim CEO, ensuring continuity in leadership. The change does not relate to the company's financial performance or operations.

AbbVie (ABBV, Financial) has entered into a licensing agreement with Gubra A/S to develop an experimental obesity treatment, marking AbbVie's entry into the obesity treatment market. The deal includes an upfront payment of $350M and potential milestone payments, signaling AbbVie's commitment to expanding its treatment portfolio.

Google (GOOG, Financial) faces scrutiny from the UK's Competition and Markets Authority after Ann Summers accused the search engine of unfairly blacklisting its website due to Google's pornography filters. The complaint highlights potential market distortion as competitors like Amazon (AMZN) are not subject to the same restrictions.

Honda Motor Co. (HMC, Financial) has shifted its production plans for the next-generation Civic to Indiana from Mexico to avoid impending U.S. tariffs. The decision reflects the automaker's strategy to mitigate the impact of potential tariffs on vehicle imports from Mexico and Canada.

A cryptocurrency-related fraud case involving Dell (DELL, Financial) and Super Micro Computer (SMCI) servers is under investigation in Singapore. The servers, potentially containing Nvidia (NVDA, Financial) chips, were allegedly shipped to Malaysia, raising questions about compliance with U.S. export restrictions.

GuruFocus Stock Analysis

• Tesla Reinstated as Top Pick; Analysts Predicts 50% Upide Potential by Nauman khan
• Meta to Launch Standalone AI App in 2025, Competing With OpenAI, Google by Faizan Farooque
• Intel Stock Jumps as Nvidia and Broadcom Test Advanced 18A Process by Nauman khan
• Google Co-Founder Sergey Brin Urges DeepMind Staff to Increase Office Time, Work Hours by Faizan Farooque
• Alibaba's Earnings Surge: Strong Growth, AI Potential, and Undervalued Upside by Sheraden Frances