U.S. stock index futures edged lower on Monday as investors headed into a week packed with key economic data and earnings from some of Wall Street's biggest companies, while the Trump administration's trade policy developments remained in focus.

Market Snapshot

At 7:58 a.m. ET, Dow E-minis were down 28 points, or 0.07%, S&P 500 E-minis were down 7.25 points, or 0.13%, and Nasdaq 100 E-minis were down 25.75 points, or 0.13%.

Pre-Market Movers

Tesla - Tesla was up 1.5%. Shares of the electric vehicle maker closed above their 50-day moving average on Friday. Tesla reported earnings on Tuesday evening, and despite a disappointing first-quarter print the stock gained after CEO Elon Musk said he would spend less time in Washington, D.C., and more time at Tesla headquarters. A positive reaction to earnings hasbrought $300 into play, said ChartSmarter founder and market technician Douglas Busch, who sees a “decent chance” the stock can rise as high as $360.

Nvidia - Nvidia was down 1.6%. Shares fell on a report that Huawei Technologies has developed a new chip called theAscend 910D, hoping it would be more powerful than Nvidia’s H100. The artificial intelligence giant’s market in China was already set to shrink after the Trump administration said it would imposelicense requirementson future sales of its H20 accelerators, which were specifically designed to meet U.S. sanctions on Chinese AI exports. The stock closed up 4.3% on Friday.

Crypto Stocks - Crypto stocks gained in premarket trading as Bitcoin topped $95,000. Cantor Equity Partners and Hut 8 rose 3%, Bitfarms, CleanSpark, and Strategy rose 2%.

Domino's Pizza - Domino’s Pizza fell 2.4% on amixed first-quarter print. The fast-food pizza chain posted revenue of $1.1 billion, narrowly missing the $1.3 billion analysts expected, according to FactSet. Earnings of $4.33 a share topped the $4.06 a share Wall Street was anticipating. The company didn’t provide an outlook for 2025. While inflation and recession fears have caused restaurant stocks to waver as of late, Domino’s large international exposure has made it a safer bet than domestically centered U.S. chains.

Spirit AeroSystems - Spirit AeroSystems rose 2.2% after finalizing a deal to transfer some of its assets to Airbus. These include a plant in North Carolina where Spirit makes a crucial part of the fuselage for the A350 jet, and a plant in Northern Ireland that makes carbon-fiber wings for the A220. Airbus said it would also acquire the production of wing components for the A320 and A350 in Scotland. The aerospace and defense company will be compensated $439 million for taking on the production work.

Pony AI - Chinese robotaxi operator Pony AI's stock rose another 6.6% in premarket trading on Monday, after soaring 56% last week due to multiple positive catalysts.

Aurora Innovation - Autonomous trucking company Aurora Innovation says it plans to go completely driverless at the end of the month, a key milestone that promises to reshape the trucking industry. The shares jumped 12% in premarket trading.

Faraday Future - EV startup Faraday Future’s board of directors has appointed founder Jia Yueting as the company’s co-CEO. The shares rose 2.9% in premarket trading.

Toyota - Toyota said it is exploring the possibility of investing in a potential buyout of key parts supplier Toyota Industries - a buyout that reportedly could cost $42 billion. The shares gained 3.1% in premarket trading.

Market News

China's Huawei Develops New AI Chip, Seeking to Match Nvidia

China's Huawei Technologies is preparing to test its newest and most powerful artificial-intelligence processor, hoping to replace some higher-end products of U.S. chip giant Nvidia, the Wall Street Journal reported on Sunday.

Huawei has approached some Chinese tech companies about testing the technical feasibility of the new chip, called the Ascend 910D, the report said, citing people familiar with the matter.

The Chinese company hopes that the latest iteration of its Ascend AI processors will be more powerful than Nvidia's H100, and is slated to receive the first batch of samples of the processor as early as late May, the report added.

Toyota Considers Investing in Potential $42 Billion Buyout of Key Supplier

Toyota Motor said it is exploring the possibility of investing in a potential buyout of key parts supplier Toyota Industries - a buyout that reportedly could cost $42 billion.

"We are currently exploring various possibilities, including partial investment," the automaker said in a filing with the Tokyo stock exchange on Saturday following reports about the possible buyout.

Bloomberg News reported on Friday that Toyota Chairman Akio Toyoda and his founder family have proposed acquiring Toyota Industries in a possible 6 trillion yen ($42 billion) deal.

Shein Hikes US Prices as Much as 377% Ahead of Tariff Increases

Fast-fashion giant Shein Group Ltd. raised US prices of its products from dresses to kitchenware ahead of imminent tariffs on small parcels, in an early sign of the potential effect of the trade war on American consumers.

Most of the hikes in US prices came on Friday, with markups significantly higher in some categories than others, according to data compiled by Bloomberg News. The average price for the top 100 products in the beauty and health category increased by 51% from Thursday, with several of the items more than doubling in price. For home and kitchen products and toys, the average jump was more than 30%, led by a massive 377% increase in the price of a 10-piece set of kitchen towels. For women’s clothing the rise was 8%.