Stock futures climbed Monday as traders tried to claw back the steep losses seen in the previous session that were sparked by concerns over the economy and a new round of tariffs from the Trump administration.

Market Snapshot

At 8:50 a.m. ET, S&P 500 futures and Nasdaq 100 futures moved up 0.6% and 0.8%, respectively. Futures tied to the Dow Jones Industrial Average added 203 points, or 0.5%.

Pre-Market Movers

Shares of Berkshire Hathaway were down 1.1% in premarket trading following second-quarter operating profit after taxes at Warren Buffett’s conglomerate fell 4% from a year earlier to $11.2 billion. The period included foreign-exchange losses of $877 million related to Berkshire Hathaway’s non-U. S. dollar debt. Earnings would have risen from a year earlier if the noncash loss was excluded. The company didn’t buy back any shares in the second quarter and hasn’t repurchased stock since May 2024. Berkshire Hathaway’s cash balance on June 30 declined to $344 billion from about $348 billion at the end of March.

Tesla Motors stock climbed 2.4% ahead of the opening bell, paring losses from the previous trading session. Tesla’s board on Monday approved a compensation package consisting of 96 million shares of restricted stock, worth about $29 billion, to CEO Elon Musk after earlier pay packages were struck down by a judge.

Spotify Technology S.A. shares gained 5.4% after Spotify said it would raise the price for its premium individual subscription in several markets.

Amazon.com rose 1.3% after a 8.3% drop on Friday. Although the e-commerce company’s second-quarter earnings beat expectations, it failed to impress with its guidance for the current quarter and growth in its cloud business appeared slower than investors had hoped.

ON Semiconductor fell 5%. The maker of chips for vehicles and industrial equipment posted adjusted earnings of 53 cents a share, in line with the consensus estimate among analysts polled by FactSet. Revenue fell 15% to 1.47 billion in the second quarter, though it narrowly beat the $1.45 billion Wall Street was looking for.

CommScope stock skyrocketed 79% after The Wall Street Journal reported that Amphenol is nearing a deal to buy its broadband connectivity and cable unit, citing people familiar with the matter. The deal would be valued at about $10.5 billion, including debt.

IDEXX Laboratories stock jumped 15% after it reported better-than-expected second-quarter earnings early Monday. The maker of diagnostic products for veterinary offices also hiked its outlook and now sees 2025 earnings per share of between $12.40 and $12.76—a 40 cents increase compared to prior guidance midpoint.

Wayfair surged 11% after it blew past Wall Street expectations for the second quarter. Wayfair earned 87 cents per share, excluding items, on $3.27 billion in revenue, while analysts polled by FactSet anticipated 33 cents and $3.13 billion, respectively.

Tyson rallied 4% after fiscal third-quarter adjusted earnings of 91 cents per share topped the 80 cents estimated by analysts surveyed by FactSet. Revenue of $13.88 billion also came in above the expected $13.54 billion.

Shares of Covid-19 vaccine maker BioNTech SE rose 3% after it reposted a smaller quarterly loss than analysts had expected. Second-quarter loss came in at 1.60 euros per share on revenue of €261 million ($302.1 million), beating the FactSet consensus of a loss per share of €2.28 on revenue of €151 million.

Earnings are expected Monday from Palantir Technologies Inc., Vertex Pharmaceuticals, Hims & Hers Health Inc..

Palantir Technologies Inc. stock was rising 2% in premarket trading ahead of second-quarter earnings scheduled for after the closing bell from the data-analytics company.

Market News

TMC Surges After Declaring First-Ever Deep Sea Nodule Reserves with $23.6B Combined NPV

The Metals Company +14% pre-market Monday after saying it released a technical report summary of the pre-feasibility study for its proposed NORI-D Polymetallic Nodule Project in the Pacific Ocean, marking the first-ever declaration of probable mineral reserves for deep-sea polymetallic nodules.

Alongside the pre-feasinility study, TMC unveiled an initial assessment for the remainder of its resource in the NORI and TOML blocks in the PacificOcean, with a measured and indicated mineral resource of 73M tons of wet nodules grading 1.3% nickel, 0.2% cobalt, 1.2% copper and 30.2% manganese with an abundance of 12.8K g/m.

Lyft Partners with Baidu to Launch Autonomous Rides in Europe

Ride-hailing firm Lyft, Inc. has entered a strategic partnership with Chinese tech firm Baidu to deploy autonomous rides across Europe.

Under the deal, Lyft will deploy Baidu's Apollo Go RT6 autonomous vehicles in key European markets through its platform, with initial rollouts planned for Germany and the UK in 2026, pending regulatory approval. The fleet is expected to scale to thousands of vehicles across Europe in the following years.

Joby Aviation Confirms Deal for Blade Air Mobility's Passenger Business

Joby Aviation, Inc. confirmed on Monday that it has entered into a definitive agreement with Blade Air Mobility to purchase the company's urban air mobility passenger business. Blade's medical division was not included in the transaction and will remain a separate public company. As part of the transaction, Joby (JBY) will become the preferred VTOL partner to Blade Air Mobility In.'s organ transport business.

Under the terms of the agreement, Joby will pay Blade stock or cash, at Joby’s election, up to $125 million, subject to customary indemnity provisions and inclusive of $35 million of holdbacks, which will be released subject to the achievement of certain performance milestones and retention of certain key employees.