Stock Futures Rise as Nuvalent Shares Surge 38%
Stock futures are pointing higher this morning as investors continue to rotate back into AI and semiconductor names after last week's sharp selloff. Chip stocks have led the rebound, helping Nasdaq futures outperform while the broader market remains more cautious.Oil prices have pulled back after reports of a ceasefire between Israel and Iran, easing concerns about a major supply disruption and helping improve risk sentiment across global markets. Investors are largely in wait-and-see mode ahead of tomorrow's CPI inflation report, which could influence expectations for the Fed's path through the second half of the year.In pre-market trading, S&P 500 futures rose 0.45%, Nasdaq futures rose 0.83% and Dow futures rose 0.34%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Nuvalentup 38% after GSKannounced an agreement to acquire the company for $10.6BApplied Digitalup 11% after entering into a new long-term lease agreement at Delta Forge 2, a purpose-built AI Factory campus located in a new southern stateCeco Environmentalup 1% after raising its full-year outlook to add Thermon to the balance of the year following the acquisition completion.UP AFTER EARNINGS -J.M. Smuckerup 3%Academy Sportsup 2%DOWN AFTER EARNINGS -United Natural Foodsdown 15%Designer Brandsdown 14%SailPointdown 14%Vail Resortsdown 4%Mission Producedown 3%LOWER -Perrigodown 1% after CEO Patrick Lockwood-Taylor resigned as president and CEO
