By Joe Woelfel
Stock futures were falling Monday with the S&P 500 on track to snap a five-quarter winning streak ahead of the White House's planned tariff rollout. Tech stocks were the leading decliners.
These stocks were poised to make moves Monday:
Tesla was down 4.5% in premarket trading. The electric-vehicle maker declined 3.5% on Friday but ended the week higher and snapped a nine-week losing streak. Coming into Monday, Tesla has declined 35% this year. The company is expected to release first-quarter deliveries on Wednesday.
General Motors fell 0.8%, Ford Motor was down 0.9%, and Jeep maker Stellantis declined 3.6% after President Trump told NBC News he didn't care if foreign automakers raised their prices for U.S. consumers because of plans to slap a 25% tariff on imported automobiles. "I couldn't care less, because if the prices on foreign cars go up, they're going to buy American cars," Trump said. "I hope they raise their prices, because if they do, people are going to buy American-made cars. We have plenty."
CoreWeave fell 3.7% to $38.51 in premarket trading. The artificial-intelligence start-up began trading Friday. It opened at $39 a share, below its initial offering price of $40, and ended the session at $40. CoreWeave is a pure play on AI, with all of its revenue coming from cloud rentals of AI servers that use Nvidia chips.
Nvidia, meanwhile, dropped 3.6% in the premarket session following the disappointing CoreWeave IPO. Coming into Monday, the AI chip maker has declined 18% this year. Palantir Technologies fell 5.6% in premarket trading. Shares of the data-analytics company have risen almost 14% this year.
LPL Financial said it would acquire Commonwealth Financial Network, a privately owned wealth management company with about 2,900 financial advisors, for roughly $2.7 billion in cash. Shares of LPL Financial, the wealth management company, fell 0.9% in premarket trading.
Earnings reports are expected Monday from PVH Corp. and Progress Software.
Reports are expected later in the week from nCino, RH, BlackBerry, Conagra Brands, Acuity, and Lamb Weston Holdings.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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March 31, 2025 06:22 ET (10:22 GMT)
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