Stock futures are trading cautiously higher following record closes for the S&P 500 and Nasdaq last week, driven by renewed trade optimism after Canada dropped its digital services tax and pre‑market tech strength.
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Tech stocks continue to lead, fueled by excitement over AI and cloud, lifting futures to fresh highs. Bank shares are also gaining after favorable Fed stress-test results, positioning the group dividend and buyback boost announcements.
The dollar remains under pressure, sliding for the ninth straight day against the euro, the longest streak since 1999, as investors fret over unpredictable U.S. fiscal policies.
Check out this morning’s top movers from around Wall Street, compiled by The Fly. Also subscribe The Fly’s daily Fly By if you want to know how the markets will open, which stocks will be moving and why.
HIGHER –
- HP Enterprise (HPE) and Juniper (JNPR) up 12% and 8%, respectively, after reaching an agreement with the U.S. Department of Justice that, subject to court approval, resolves the DOJ’s lawsuit challenging HPE’s acquisition of Juniper and clears the way for the transaction to close
- GMS Inc. (GMS) up 11% after announcing it has entered into a definitive agreement with Home Depot (HD) to be acquired by its specialty trade distribution subsidiary for $110 per share
- Joby Aviation (JOBY) up 6% after its electric air taxi has successfully completed a series of piloted, vertical-takeoff-and-landing wingborne flights in Dubai
- Revolution Medicines (RVMD) up 5% after the company and Summit Therapeutics (SMMT) entered into a clinical collaboration in multiple solid tumor settings to evaluate the safety and efficacy of each of Revolution Medicines’ clinical-stage RAS inhibitors
- Moderna (MRNA) up 3% after reporting results from an efficacy study evaluating the relative vaccine efficacy against influenza illness of mRNA-1010, the company’s seasonal influenza vaccine candidate, compared to a licensed standard-dose seasonal influenza vaccine in adults aged 50 years and older
LOWER –