Stock futures were leaning slightly to the upside Tuesday, following sharp losses from Monday as a strong jobs report had traders lowering their expectations for near-term interest-rate cuts.
These stocks were poised to make moves Tuesday:
SUPER MICRO COMPUTER INC extended gains in premarket trading, rising 3% after jumping 16% on Monday and finishing as the top stock in the S&P 500 during the session. The server maker said it has deployed more than 100,000 GPUs with liquid cooling solution for some of the largest artificial-intelligence factories ever built. Barron's estimates that amounts billions of dollars in orders.
U.S.-listed shares of Bilibili Inc. dropped 16%, NIO Inc. tumbled 11%, and Alibaba was down 9% after Beijing disappointed investors by not announcing further stimulus measures on Tuesday, sending shares of Chinese companies sharply lower.
General Motors dipped 0.3% ahead of the auto maker's 2024 investor day. The event begins at 1:45 p.m. Eastern time Tuesday. Analysts expect updated investment and profitability plans for the company's electric-vehicle business, while investors will listen for plans for capital returns to shareholders in the form of dividends and buybacks.
Alphabet was up 0.4% in premarket trading. The Department of Justice is expected to file a framework for potential remedies on Tuesday following a federal judge's ruling in August that Alphabet-owned Google had an illegal monopoly in general search services and general text advertising.
Pepsi is scheduled to report third-quarter earnings before the stock market opens. Analysts expect the beverages and snacks to report third-quarter core earnings of $2.29 a share on sales of $23.9 billion, up from year-earlier profit of $2.25 on sales of $23.5 billion. PepsiCo was up 0.1% in premarket trading.
Docusign rose 5.4% in premarket trading. S&P Dow Jones Indices announced the stock would be added to the S&P MidCap 400 before the opening of trading Friday. DocuSign, which makes software for collecting electronic signatures, will replace MDU Resources Group in the index.
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