Stock futures fell again on Monday following yet another negative trading week for Wall Street, as investors receive little signs of progress on global trade talks.

Market Snapshot

At 8:45 a.m. ET, Futures tied to the Dow Jones Industrial Average tumbled 346 points, or 0.88%. S&P 500 futures pulled back 1.1%, while Nasdaq-100 futures dropped 1.4%. Chagee Holdings Limited up 5%.

Pre-Market Movers

Netflix was up 2% in premarket trading after the streaming company reported first-quarter earnings last Thursday of $6.61 a share, topping analysts' estimates of $5.57, and said it expects profit in the current second quarter of $7.03 a share, higher than consensus of $6.25. The company still expects revenue in 2025 of between $43.5 billion and $44.5 billion, saying there's been "no material change to our overall business outlook since our last earnings report." Netflix posted first-quarter revenue of $10.5 billion, up 13% from a year earlier and matching expectations. The quarter was the first three-month period in which Netflix didn't disclose an updated subscriber count.

Apple shares slipped nearly 3%, as the company continues to contend with uncertainty surrounding President Donald Trump’s tariffs. The iPhone maker is down more than 11% in April.

UnitedHealth was down 0.3% after the giant health insurer tumbled 22% on Thursday after posting first-quarter earnings that missed analysts' expectations and slashed its full-year outlook. The stock's drop Thursday was its largest daily percentage decrease since Aug. 6, 1998, when it fell more than 28%, according to Dow Jones Market Data. UnitedHealth said it saw increased care activity in its Medicare Advantage business during the first quarter, with higher-than-expected utilization rates of physician and outpatient services.

Tesla Motors, the electric-vehicle maker, fell 4% in premarket trading to $231.60. Reuters reported Tesla might delay releasing a lower-priced model, which has been widely anticipated by investors for this year. The report said plans for a stripped-down version of Tesla's Model Y crossover vehicle were being delayed, with significant production planned for 2026. Tesla is scheduled to report first-quarter earnings after the closing bell Tuesday, which comes amid falling sales at the EV maker. Coming into Monday, shares have declined 40% this year.

Meanwhile, Barclays late Thursday lowered its price target on Tesla to $275 from $325 and maintained an Equal Weight rating on the shares. Barclays analyst Dan Levy said he sees a "confusing" setup into Tesla's earnings report. The analyst believes it will be difficult for Tesla to increase deliveries in 2025.

NVIDIA declined 3%. The maker of artificial-intelligence chips remains in the crossfire of escalating U.S.-China trade tensions. CEO Jensen Huang met Japanese Prime Minister Shigeru Ishiba on Monday, following a meeting with Chinese leaders in Beijing last Thursday. Nvidia shares fell 2.9% on Thursday.

Shares of Eli Lilly slipped 0.6% in the premarket session. The stock jumped 14% on Thursday after the pharmaceutical company said its new weight-loss pill had cleared a late-stage clinical trial. Patients on the highest dose in a Phase 3 trial lost an average of 16 pounds, or 7.9% of their weight, after 40 weeks, better than the range of 4% to 7% Lilly had indicated. CEO Dave Ricks vowed Friday that Lilly would manufacture the weight-loss pill in the U.S.

Capital One rose 5% and Discover Financial Services jumped 8% after the Office of the Comptroller of the Currency said it had granted conditional approval of Capital One's $35.3 billion acquisition of Discover. The OCC, which oversees U.S. lenders, said that its approval reflects its "careful analysis of the effect of the merger on communities, the banking industry, and the U.S. financial system."

Ford last week halted shipments to China of F-150 Raptors, Mustang cars, and Bronco SUVs built in Michigan, as well as Lincoln Navigators made in Kentucky, The Wall Street Journal reported, citing people familiar with the matter. The moves were made to avoid retaliatory tariffs that China has implemented. "We have adjusted exports from the U.S. to China in light of the current tariffs," a Ford spokeswoman told the Journal, without specifying models or timing. Shares declined 1%.

Salesforce.com fell 1.7% to $243. Analysts at DA Davidson reduced their recommendation on shares of the cloud-based software company to Underperform from Neutral with a price target of $200. Guggenheim upgraded the stock to Neutral from Sell without a price target "as the stock has fallen to our prior price target, or a value more aligned with the company's future prospects, in our opinion," the analysts said.

Market News

China's Huawei Set for Mass Shipment of New AI Chip Amid Nvidia's H20 Woes - Report

Huawei Technologies intends to start mass shipments of its advanced 910C AI chip to Chinese customers as early as next month, Reuters reported citing people with knowledge of the matter.

Some shipments have already taken place, the report added.

The report comes on the heels of new U.S. curbs requiring NVIDIA to get a license to export the company's H20 chips to China — a change that could result in a potential $5.5B impact on the U.S. company.

Strategy Acquires $555.8M More Bitcoins During April 14-20

Strategy, the rebranded MicroStrategy, acquired $555.8M, or 6,556 bitcoins, from April 14 through April 20, 2025, for a total purchase price of $555.8M, the company said on Monday. The average purchase price it paid per bitcoin was $84.8K.

Under its at-the-market program, it sold 1.755M shares of MSTR shares and 91,213 shares of series A perpetual strike preferred stock, raising a total of $555.5M in proceeds.

Strategy's total holdings stood at 538,200 bitcoins as of April 20, for which it paid $36.5B. The average price it paid per token was $67.8K.