Stock index futures ticked higher on Monday, with Nasdaq futures leading the charge as Advanced Micro Devices’ (AMD) stock jumped, while the U.S. government shutdown continued to grind on. Here are four stocks to watch on the day:
Tesla (TSLA) shares were up 2.2% in premarket trade as the firm teased an upcoming event for October 7 on Sunday, fueling speculation about a lower-cost model that could help maintain its sales momentum. The company hinted at an event scheduled for Tuesday in a separate video that had “10/7” at the end.
Advanced Micro Devices (AMD) stock leaped 29% before the opening bell as the firm signed a pact with Microsoft (NASDAQ:MSFT)-backed OpenAI to roll out AI infrastructure under a deal that is expected to deliver tens of billions of dollars in revenue for AMD. The companies inked an agreement for OpenAI to deploy six gigawatts of AMD graphics processing units, or GPUs, over multiple years, and a multi-generation agreement.
Fifth Third Bancorp (FITB) was down 2.3% in premarket trade as the firm and Comerica (NYSE:CMA) entered into a definitive agreement for an all-stock merger valued at $10.9 billion. The combination will bring together two long-established banking franchises to create the 9th largest U.S. bank, holding approximately $288 billion in assets.
Boeing (BA) was up 0.7% before the opening bell, as the firm was reportedly guiding suppliers that 737 MAX production could reach a 42-jet-per-month pace as early as this month. The aircraft maker is also said to be laying the groundwork to ramp up manufacturing again in April and once more late next year. When combined, these boosts could bring production to about 53 planes a month by the end of 2026.