01 Stock Market
Stock index futures were well off their overnight lows Monday as oil retreated from $120/bbl on expectations of near-term supply solutions.
Dow Jones futures fell 0.99%, Nasdaq 100 futures fell 0.93%, and S&P 500 futures fell 0.86%. The early weakness reflected a sharp rise in crude prices boosting inflation concerns and weighing on rate‑sensitive growth shares. Investors focused on energy supply risks and the potential policy response, with defensive and oil‑linked exposures comparatively firmer before the bell.
Notable Stock Movers: Strength clustered in energy proxies while several megacaps dipped. HIMS surged 51% on a reported pharmaceutical distribution tie‑up. Oil-linked ETFs advanced, with USO up 10.21% at $119.87 and UCO up 10.45% at $37.09; producers such as OXY rose 1.46% at $54.98. Among China ADRs, KC rose 8.26% at $12.98 and XPEV rose 3.12% at $17.86. Large-cap tech edged lower: MSFT fell 0.94% at $405.10, NVDA fell 0.68% at $176.61, AMD fell 1.31% at $189.90, and TSLA fell 1.48% at $390.86.
High-beta tech proxies softened while inverse products gained. The triple‑long Nasdaq fund TQQQ fell 2.73% at $46.24, whereas the inverse SQQQ rose 2.72% at $75.46. Semiconductor leverage skewed defensive, with SOXL down 4.66% at $45.66 and SOXS up 4.49% at $47.20, while foundry bellwether TSM fell 0.81% at $336.15. The moves pointed to pre‑open de‑risking in growth and a bid for energy‑linked hedges.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.99%, to 4.17%.
• U.S. Dollar Index rose 0.44% to 99.28.
• WTI crude oil futures rose 10.95% to 100.85 USD/barrel; COMEX gold futures fell 1.08% to 5103.20 USD/ounce.
03 Key News
G7 to Discuss Joint Release of Emergency Oil Reserves
G7 finance ministers will discuss a possible joint release of petroleum from reserves co-ordinated by the International Energy Agency, in an emergency meeting on Monday aimed at tackling the surge in oil prices following the conflict in the Gulf.
The ministers and Fatih Birol, IEA executive director, will hold a call at 8.30am New York time to discuss the impact of the Iran war, according to people familiar with the situation, including a senior G7 official.
Three G7 countries, including the US, have so far expressed support for the idea, according to the people familiar with the talks.
Billionaire Tesla Whale Doubles Nvidia Stake to “Calm the Nervous Market”
Billionaire investor Leo KoGuan said he doubled his stake in NVIDIA to 2M shares, adding to his position in the chipmaker as global markets face heightened volatility linked to the conflict in the Middle East.
“As promised, I bought additional 1 million shares of NVDA today,” KoGuan wrote early Saturday on X, days after disclosing his initial purchase.
The investment marks a notable shift for KoGuan, whose wealth has long been heavily tied to shares of Tesla Motors. It comes as global markets have weakened since the U.S. and Israel launched military operations against Iran last month, sparking a broad selloff across assets from bonds to equities and raising concerns that markets could fall further if the conflict drags on.
Trump Sons Back Drone Startup Powerus Targeting Pentagon Contracts: WSJ
Eric Trump and Donald Trump Jr., the president’s sons, are backing a new drone company that is vying to meet fresh demand from the Pentagon and fill a hole left by the administration’s ban on new Chinese drones in the U.S., the Wall Street Journal reported.
Powerus, a drone roll-up company based in West Palm Beach, Fla., is merging with a publicly traded golf-course holding company backed by the Trumps, Powerus executives said.
The reverse merger will result in Powerus, which was formed last year, trading on the Nasdaq stock exchange in the coming months, the report added. Powerus says it plans to acquire Ukrainian drone tech to sell to the U.S. military.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
