Dow, S&P 500, Nasdaq Futures Rise Ahead of Busy Week of Earnings, Fed Rate Decision

Image source: Lummi

US stock futures looked set to recover on Monday morning as investors braced for a full earnings docket and the Federal Reserve's next policy decision this week.

Futures on the Dow Jones Industrial Average (YM=F) rose 0.4%, while those on the S&P 500 (ES=F) added 0.3%. Contracts for the Nasdaq-100 (NQ=F) traded 0.3% higher after the S&P 500 and Nasdaq Composite posted their second straight week of losses.

Oil prices dipped, with Brent crude futures (BZ=F) falling below $110 per barrel after the global benchmark hit its highest level since April amid escalating tensions in the Middle East.

AI stocks struggled to gain ground after last week's sell-off. Alphabet (GOOG, GOOGL) and Microsoft (MSFT) report earnings on Wednesday as investors weigh growing AI spending and backlogs.

The key event this week will be the Federal Reserve's policy meeting, where Fed officials are expected to hold rates steady. However, after hotter-than-expected inflation data, many experts expect Fed Chairman Kevin Warsh to tilt toward a "hawkish pause." Several other global central banks, including the European Central Bank, the Bank of Canada, and the Bank of Japan, will also hold policy-setting meetings this week. Yahoo Finance reports.

🏥 Surgery Partners Shares Jump 21% in Premarket Trade on $6 Billion Bon Secours Deal

Surgery Partners shares jumped more than 21% in premarket trading on Monday after the Financial Times reported that the surgical care provider had agreed to be taken private by Bon Secours Mercy Health in a deal valuing it at about $6 billion, including debt.

Bon Secours, one of the largest not-for-profit health systems in the United States, would buy a majority stake at about $20 per share, the report said, citing people familiar with the matter.

Bain Capital, a shareholder since 2017, would retain its nearly 40% stake.

The $6 billion figure includes $3.5 billion of debt. Before Monday's jump, shares had fallen 31% over the past year to just under $16, giving the company a market capitalization of nearly $2.1 billion.

Last year, Surgery Partners walked away from a deal led by Bain to take it private at a higher valuation of $6.7 billion, including debt. A sale would end more than a year of stop-start efforts to sell the company. Investing.com reports.

🧬 ArriVent Cancer Data Support ‘Best-in-Class’ Potential, Says Clear Street. Stock Up in Pre-Market

ArriVent BioPharma, Inc. (Nasdaq: AVBP), a clinical-stage company dedicated to accelerating the global development of innovative biopharmaceutical therapeutics, announced encouraging initial Phase 1 results for ARR-217 (MRG007), a cadherin-17 (CDH17)-targeting antibody-drug conjugate (ADC) developed in partnership with Lepu Biopharma Co., Ltd., in patients with gastrointestinal malignancies.

The findings were presented during an oral presentation at the 2026 European Society for Medical Oncology (ESMO) Congress. GlobeNewswire reports.

🐟 Elon Musk Warning on Neoclouds: They Will Face 'Guppy Level' Death

After issuing a "Yikes" about the finances of neocloud company CoreWeave (CRWV) earlier this month, Elon Musk is out with a more brutal hot take on the entire industry.

Some 200-plus neoclouds are going to see "guppy-level death and consolidation," Musk warned in a new post on X.

Musk said debt markets are hesitant to finance any company that relies almost entirely on AI data centers for sales. SpaceX has secured $40 billion in debt to buy GPUs, Musk added. The funding is backed by better businesses such as Starlink, Musk explained.

Shares of CoreWeave and Nebius (NBIS) fell 2.7% and 3.5%, respectively, in premarket trading on Monday following Musk's comments. Yahoo Finance reports.

🔬 Xencor Announces Updated Results from Phase 1 Study of XmAb819. Stock Soars in Pre-Market

Xencor, Inc. (NASDAQ: XNCR), a clinical-stage biopharmaceutical company developing engineered antibodies for the treatment of cancer and autoimmune diseases, announced updated results from the Phase 1 study of XmAb819, an ENPP3 x CD3 T-cell-engaging bispecific antibody, in patients with advanced clear cell renal cell carcinoma (ccRCC).

The results were presented by Sumanta Pal, M.D., FASCO, professor and vice chair of academic affairs at City of Hope Comprehensive Cancer Center, in a proffered-paper oral presentation at the European Society for Medical Oncology (ESMO) Congress 2026 in Madrid, Spain.

Xencor also reported additional follow-up data supporting the selection of 400 mcg/kg as the proposed recommended Phase 3 dose for intravenous administration and outlined plans for potential registration-enabling development by the end of 2027. BusinessWire reports.

🛰️ Musk Says SpaceX Closed $40 Billion Debt Deal, Blasts Neoclouds

Elon Musk said SpaceX (SPCX) has closed a $40 billion debt deal to pay for the chips it needs to fuel its artificial intelligence ambitions.

SpaceX finalized the debt raise to pay for Nvidia Corp.'s (NVDA) graphics processing units (GPUs), thanks to its investment-grade ratings and revenue from its Starlink satellite business and rocket launches, Musk wrote in a post on X discussing the off-balance-sheet deal.

In highlighting SpaceX's diversified business, Musk sought to differentiate the company from so-called neoclouds that sell high-end computing power to technology companies. Such firms have come under intense scrutiny over the past two weeks due to their heavy borrowing and demand prospects. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) RENT: Rent the Runway, Inc.
Total gain: +41.74%

2) XNCR: Xencor, Inc.
Total gain: +27.48%

3) SGRY: Surgery Partners, Inc.
Total gain: +22.98%

4) YMAT: J-Star Holding Co., Ltd.
Total gain: +16.10%

5) MACI: Melar Acquisition Corp. I
Total gain: +12.73%

The closing price of the top three market percent gainers trading near or above $2 on Oct 23.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET). Stock Analysis reports.

1) AIOK: AI OKTO CORP.
Total gain: +182.82%

The company announced that the company's board of directors has declared a one-time, special dividend of $3.50 per common share, consisting of either cash or the Company’s common shares. The dividend is payable to the Company’s shareholders of record at the close of business on November 2, 2026 and is expected to be paid on or about November 25, 2026 (the “Dividend Payment Date”). Given that the payment of the special dividend represents more than 25% of the current trading price of the Company’s common shares, Nasdaq has advised the Company that its common shares will trade with “due bills”. More information on this process is included below. GlobeNewswire reports.

2) CLRO: ClearOne, Inc.
Total gain: +69.27%

The stock appeared to be moving on no notable news.

3) LYCA: Lycia Therapeutics, Inc.
Total gain: +66.67%

The company announced the pricing of its upsized initial public offering of 17,640,000 shares of its common stock at an initial public offering price of $18.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $317.5 million. All shares of common stock to be sold in the offering will be sold by Lycia. GlobeNewswire reports.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

VLRS

Controladora Vuela

Q3 2026

After Market Close

Estimate: -0.850

Actual: N/A

RMBS

Rambus

Q3 2026

After Market Close

Estimate: 0.760

Actual: N/A

PFG

Principal Finl Gr

Q3 2026

After Market Close

Estimate: 2.430

Actual: N/A

Time (ET) / Report / Period

No events scheduled

“The stock market is not a stock exchange building; it is a crowd of people oscillating between greed and fear.”

— Bernard Baruch
Sourced in: Novel Investor.

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