Stock futures advanced on Monday as Wall Street looked to kick off June on a strong note, and Nvidia led tech higher following the launch of a new chip for PCs.
Futures tied to the Dow Jones Industrial Average added 160 points, or 0.3%. S&P 500 and Nasdaq-100 futures rose 0.2% and 0.1%, respectively.
Nvidia shares climbed more than 2% in the premarket after the company unveiled a new processor for personal computers. Dell Technologies and HP Inc followed Nvidia higher, rising more than 1% and about 4%, respectively. Intel, which for years dominated the PC chip market, fell more than 6%.
Stocks wrapped up a strong May, with all three major indexes posting solid gains. The tech-heavy Nasdaq Composite led the advance, up more than 8% for the month. The S&P 500 gained about 5%, while the Dow Jones Industrial Average added nearly 3%.
The major averages closed at fresh highs Friday after the U.S. and Iran reached a 60-day memorandum of understanding to extend the ceasefire.
President Donald Trump said he would meet in the Situation Room “to make a final determination” and reiterated that Iran “must agree that they will never have a Nuclear Weapon.” He also called for the Strait of Hormuz to be “immediately open.”
“Trump clearly doesn’t want to escalate and is looking for an off-ramp. Some type of a pact is very likely, and markets largely assume a sustained cessation of hostilities,” Adam Crisafulli, founder of Vital Knowledge, wrote in a note. “An actual announcement will probably trigger a ‘sell the news’ reaction for the overall S&P 500.”
Oil prices gained after retreating Friday following the developments. West Texas Intermediate crude futures rose 3% on Monday to around $90 a barrel. Brent crude also climbed 3% to around $93. In May, the U.S. benchmark posted its steepest monthly decline since April 2025, tumbling nearly 17%.
Investors this week will turn their attention to Friday’s closely watched nonfarm payrolls report for fresh insight into the health of the labor market and the outlook for Federal Reserve policy.
Central Command says U.S. intercepted Iranian missiles targeting American forces in Kuwait
U.S. Central Command on Monday said Iran fired two ballistic missiles overnight targeting American forces stationed in Kuwait, the latest in a series of attacks that further undermines a threadbare ceasefire.
The missiles fired Sunday night at 11 p.m. ET were successfully intercepted and no U.S. personnel were harmed, CENTCOM said in an X post.
“U.S. Central Command remains vigilant and will continue to protect our forces from Iranian aggression while supporting the ongoing ceasefire,” the post said. Read more.
— Kevin Breuninger
IAC to make $18 billion bid for MGM
IAC is set to make an $18 billion bid to buy MGM Resorts International, sources told CNBC’s Andrew Ross Sorkin.
The offer is $48.30 per share, a 10% premium over MGM’s Friday close. Barry Diller, the chairman of IAC — which is undergoing a name change to People Incorporated — is a member of MGM’s board of directors.
Shares of MGM jumped 10% in premarket trading, while IAC rose more than 1.5%.
— Davis Giangiulio
Nvidia, Dell Technologies and Qualcomm among the stocks making moves before the bell
Check out the companies making the biggest moves premarket:
- Nvidia, Microsoft — The hyperscalers were rising after Nvidia, in a collaboration with Microsoft, revealed a new processor for personal computers. Nvidia was up 2%, while Microsoft was rising nearly 4% in premarket trading.
- Dell, HP, Arm — Derivatives of Nvidia’s computer chip announcement were also jumping on the news. Dell and HP, which are set to manufacture computers featuring the new chip, rose 1.5% and more than 3.5%, respectively. Arm, whose technology was used by Nvidia to develop the new chip, was surging 14.5%.
- Qualcomm, Intel, Advanced Micro Devices — As Nvidia rose, its chipmaking competitors fell. Qualcomm tumbled 9.5%, while Intel shed more than 6.5%. Advanced Micro Devices was off more than 4% too.
Read the full list here.
— Davis Giangiulio
Nvidia rises after PC chip unveil
Nvidia shares climbed 2.1% in the premarket after the company unveiled a new processor for personal computers.
“This reinvention of the computer is as big of a deal as the reinvention of the phone into what we now know as the smartphone,” CEO Jensen Huang said in a keynote. He also said AI will run across all the new computers.
Dell Technologies and HP Inc followed Nvidia higher, rising 1.7% and 4%, respectively. Intel, which for years dominated the PC chip market, fell more than 6%.
Read more here.
— Katie Tarasov
Taylor Morrison Home surges on Berkshire Hathaway acquisition
Shares of Taylor Morrison Home popped 22% after the homebuilder agreed to be acquired by Berkshire Hathaway for $6.8 billion in cash.
The deal marks one of the first major moves for the conglomerate under Greg Abel, Warren Buffett’s successor. The transaction is expected to close in the second half of 2026.
Read more here.
— Fred Imbert
Asia-Pacific markets close mixed as Samsung-led rally lifts Kospi to record high
Asia-Pacific markets closed mixed on Monday, with South Korea’s benchmark Kospi surging 3.68% to a record closing high and leading gains across the region.
The small-cap Kosdaq fell 2.3% to 1,050.03, while shares of Samsung Electronics soared more than 10% to an all-time high.
Japan’s Nikkei 225 rose 0.91% to 66,934.33, while the Topix declined 042 to close at 3,940.7%. In Australia the S&P/ASX 200 was flat at 8,729.4.
Shares of SoftBank Group rose 14% after the conglomerate on Sunday announced plans to invest 45 billion euros ($53 billion) over the next five years to build artificial intelligence infrastructure in France.
The Hang Seng index rose 0.86% in the final hour of trade while the CSI 300 was down 0.98%, closing the trading day at 4,844.26.
— Lee Ying Shan
South Korea stocks hit fresh high amid mixed regional trade despite Trump’s Iran deal caution
South Korea stocks hit a fresh record high on Monday, bucking a mixed performance across Asia-Pacific markets as investors monitored lingering uncertainty around U.S.-Iran negotiations after President Donald Trump said he was in “no hurry” to strike a deal to end the conflict.
South Korea’s Kospi jumped 1.31%, while the small-cap Kosdaq was down 1.58%. Shares of Samsung Electronics rose more than 3% to hit an all-time high.
Japan’s Nikkei 225 rose 0.17%, while the Topix declined 0.3%. In Australia the S&P/ASX 200 lost 0.21%.
Shares of SoftBank Group rose 5% after the conglomerate on Sunday announced plans to invest 45 billion euros ($53 billion) over the next five years to build artificial intelligence infrastructure in France.
The Hang Seng index rose 0.73% while the CSI 300 was down 0.32%.
— Lee Ying Shan
Solid earnings season so far
Corporate America’s earnings season is shaping up to be one of the strongest in years, with companies comfortably clearing Wall Street’s expectations despite lingering concerns about economic growth and geopolitical uncertainty.
About 85% of S&P 500 companies have reported first-quarter earnings above analyst estimates, well ahead of the five-year average of 78%, according to FactSet data. Companies are beating profit forecasts by an aggregate 16.7%, more than double the average surprise of 7.3% seen over the past five years.
— Yun Li
S&P 500 on a nine-week win streak
The S&P 500 gained 1.4% last week, its nineth positive week in a row for the first time since its nine-week streak ending Dec. 29 in 2023. The benchmark rose 5.2% in May, its second positive month in a row.
The equity index saw a fresh all-time intraday high and a record close in Friday’s session. It’s risen 10.2% since the Iran war began in February.
— Yun Li and Christopher Hayes
