Stock futures have shown a slight increase this morning following a record-setting performance by the tech-heavy Nasdaq Composite, which achieved a new all-time high on Monday. Investors are optimistic amid growing expectations that the Federal Reserve may consider cutting interest rates in the near future. The S&P 500 and the Dow Jones Industrial Average are also close to their all-time highs. Bitcoin has experienced a minor uptick, trading at $112,500, while the yield on the 10-year Treasury note is climbing after reaching its lowest point since April. Additionally, gold and oil futures are moving upwards early in the trading session.
In significant corporate news, Nebius Group (NBIS) has seen its shares surge by over 50% in premarket trading after announcing a multi-year agreement with Microsoft (MSFT). The Amsterdam-based AI infrastructure firm will provide dedicated capacity at a new data center in Vineland, New Jersey, starting later this year. Reports suggest the deal is valued at $19.4 billion and includes a stake from AI chipmaker Nvidia (NVDA). Nebius CEO Arkady Volozh remarked that the partnership will significantly accelerate their AI cloud business expansion.
Meanwhile, a pivotal deal has been reached regarding the control of the media empire established by Rupert Murdoch which encompasses Fox News and The Wall Street Journal. Lachlan Murdoch, currently the CEO of Fox and chair of News Corp, will assume control of the trust that holds significant stakes in both companies. As part of this arrangement, Rupert Murdoch’s other children, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will relinquish their claims to the company. This news has negatively impacted both Fox and News Corp shares, which fell nearly 5% in early trading.
Investors are also on the lookout for quarterly earnings from Oracle (ORCL), set to be released after market hours today. Analysts anticipate a 13% year-over-year revenue increase to $15 billion and a rise in adjusted earnings per share to $1.48. Oracle has seen its stock climb more than 40% since the beginning of 2025, buoyed by the announcement of $30 billion in new cloud deals earlier in the year. The stock is up approximately 1% in premarket trading.
Additionally, mining companies Teck Resources (TECK) and Anglo American have announced a merger, creating a new global minerals company poised to become one of the largest copper producers worldwide. Branded as Anglo Teck, the merged entity will have a market capitalization exceeding $53 billion. Teck’s release stated that the new company will benefit from a premier portfolio that includes six top-tier copper assets, along with valued premium iron ore and zinc operations. In premarket trading, Teck’s shares increased by about 17%, while Anglo American’s stock rose approximately 8% in London.
In product news, Apple has officially launched its latest smartphone, the iPhone 17, adding to the excitement in the tech sector.
