U.S. stock index futures edged higher on Monday, after Wall Street closed lower in the previous session, buoyed by rising hopes that the Federal Reserve could soon resume its monetary easing cycle.

Market Snapshot

At 7:51 a.m. ET, Dow E-minis were up 68 points, or 0.15%, S&P 500 E-minis were up 14.25 points, or 0.22%, and Nasdaq 100 E-minis were up 88.75 points, or 0.37%.

Pre-Market Movers

AppLovin, Robinhood, Emcor Group, Enphase Energy - AppLovin, the maker of app-monetization technology, was rising 9.8% in premarket trading, online brokerage Robinhood Markets jumped 8.5%, and Emcor Group, a provider of construction and maintenance services, gained 1.5%, after it was announced late Friday thethree stocks would be joining the S&P 500 index before the markets open on Sept. 22.

The three companies will replace MarketAxess Holdings, Caesars Entertainment, and Enphase Energy in the index, according to S&P Dow Jones Indices. Of the three stocks being removed, Enphase was faring the worst, falling 1.3% in premarket trading.

EchoStar - EchoStar agreed to sell wireless spectrum licenses to SpaceX for its Starlink satellite network for about $17 billion, in a bid to resolve a regulatory review over underutilization of its assets for 5G service expansion. Shares of EchoStar rose 23.4% in premarket trading following the news.

QuantumScape - QuantumScape and PowerCo SE, the battery company of the Volkswagen Group, today premiered the world's first live demonstration of QS solid-state lithium-metal batteries powering an electric vehicle. QuantumScape shares surged 19.5%.

Tesla - Tesla, the electric-vehicle maker, was up 1.4% in the premarket session. Shares of Elon Musk’s company jumped 3.6% on Friday and ended the week with a gain of 5.1% afterTesla’sboard asked investors toapprove a new pay package for Muskthat could be worth as much as $1 trillion over the next 10 years.

Chinese ADRs - Chinese ADRs gained in premarket trading. Baidu and Hesai Group rose 7%; NetEase rose 5%; Alibaba rose 4%; XPeng rose 3%.

Broadcom - Broadcom gained 1%. The semiconductor and software company rose 9.4% on Friday to a record high of $334.89 after it announced that it had secured an artificial-intelligence order of $10 billion from a new undisclosed customer, which The Wall Street Journal reported was OpenAI, the creator of ChatGPT. Broadcom closed Friday’s session with a market capitalization of $1.575 trillion, according to Dow Jones Market Data.

Nvidia - Shares of Nvidia, the leading maker of AI chips, were up 0.5% to $167.90. The stock declined 2.7% on Friday after Broadcom landed the $10 billion agreement with OpenAI. Analysts at Citi on Mondayreduced their price on shares of Nvidiato $200 from $210.Nvidiahas closed lower six of the last seven trading days. Coming into Monday, Nvidia has risen 24% this year.

Strategy - Strategy, previously known as MicroStrategy, fell 2.3% as the price of Bitcoin slipped to around $111,500 from above $113,000 at one point on Friday. The company is one of the largest corporate holders of Bitcoin. Before the news late Friday, there was speculation that Strategy—the biggest corporate Bitcoin holder—could be added to the S&P 500 in conjunction with the rebalancing, but it didn’t make the cut.

Market News

AppLovin, Robinhood, and Emcor to Join S&P 500

AppLovin, Robinhood Markets, and Emcor Group will join the S&P 500 index later in September in conjunction with the index's quarterly rebalancing, according to S&P Dow Jones Indices, which oversees the benchmark index.

Those three stocks will replace MarketAxess Holdings, Caesars Entertainment, and Enphase Energy.

Applovin and Robinhood have often been mentioned as candidates for inclusion this year, because they were among the largest companies by market capitalization not in the S&P 500 index.

The three stocks will be added to the S&P 500 index before the start of trading on Monday, Sept. 22.

US Weighs Annual China Chip Supply Approvals for Samsung, Hynix

The US is proposing annual approvals for exports of chipmaking supplies to Samsung Electronics Co. and SK Hynix Inc.’s factories in China, a compromise aimed at preventing disruptions to the global electronics industry after Trump officials revoked Biden-era waivers that let the companies more easily get such shipments.

Officials in the US Commerce Department last week presented to Korean counterparts a “site license” idea to supplant indefinite authorizations the chipmakers secured under the previous administration, according to people familiar with the matter. Those so-called validated end user, or VEU, designations are set to expire at the end of this year.

The VEU system granted Samsung and SK Hynix perpetual approval to ship estimated quantities of supplies, based on up-front security and monitoring commitments, to factories in China — where the US has broadly curbed shipments of semiconductors and the tools needed to make them. The Trump team’s proposal instead requires South Korea’s two largest companies to seek Washington’s approval for a year’s worth of restricted gear, parts and materials at a time, spelled out in exact quantities, the people said.

Gold Climbs to Fresh Record After Bets on Fed Rate Cuts Surge

Gold hit a fresh record on Monday, bolstered by an unexpectedly weak US employment report that saw wagers increase on the Federal Reserve cutting interest rates.

Bullion rose as much as 1% to more than $3,622 an ounce, eclipsing the previous record set on Friday after a pivotal US payrolls report showed a slowdown in hiring, while unemployment increased to the highest level since 2021.

That saw swaps traders boost bets on interest rate cuts, and they are now pricing almost three reductions for the rest of this year. Lower borrowing costs tend to increase the appeal of non-yielding gold, which has also seen support from strong haven demand amid concerns over the US central bank’s future.