U.S. equity futures were little up Monday as the S&P 500 trades near a record high and a busy week of potential market-moving news kicks off.

Market Snapshot

At 8:48 a.m. ET, S&P 500 futures were up 0.2%. Futures tied to the Dow Jones Industrial Average added 48 points, or 0.1%. Nasdaq 100 futures traded near the flatline. Circle Internet Corp. rose 17%, VinFast Auto rose 11%.

Pre-Market Movers

Warner Bros. Discovery – Shares jumped nearly 7% after Warner said it will split into two publicly traded companies by next year. One company will host WBD’s streaming services and movie properties, while the other will include its cable networks such as CNN and TNT Sports.

Tesla Motors – Shares of the electric vehicle maker dropped about 2% after Baird downgraded the stock to neutral from buy. The firm said that CEO Elon Musk’s comments on robotaxi plans are “a bit too optimistic” and that Musk’s relationship to President Donald Trump adds “considerable uncertainty.”

Apple – Stock was up 0.5% in premarket trading. Worldwide Developers Conference begins Monday and runs through Friday. The tech giant has promised to unveil a series of “groundbreaking updates” during its annual event but missing from the announcements this week will be the highly anticipated artificial-intelligence update to Siri. “Expectations are rightfully tempered this year at WWDC relative to prior years where we had more material announcements,” wrote Evercore ISI’s Amit Daryanani in a research Coming into Monday, shares of the iPhone maker have declined 19% this year.

EchoStar – Shares tumbled 10% after the Wall Street Journal, citing people familiar, said the telecommunications company is considering filing for bankruptcy under chapter 11. The company is trying to protect its wireless spectrum licenses that are under review by the Federal Communications Commission, the report said.

Robinhood, AppLovin Corporation – Shares of Robinhood and Applovin each fell about 3% after neither name was added to the S&P 500 on Friday, as both names were considered possible candidates for inclusion in the index. Robinhood soared more than 13% last week leading up to the rebalance announcement, while Applovin advanced more than 6%.

IONQ Inc. – The quantum computing stock gained more than 11% after the company announced that it’s agreed to acquire Oxford Ionics in a deal valued at $1.075 billion in cash and stock. The deal is expected to close in 2025.

McDonald's – The fast-food chain’s stock slipped nearly 1% on the heels of a Morgan Stanley downgrade to equal weight from overweight. Morgan Stanley said the company hasn’t been insulated from pressures on the fast food sector.

Market News

Semiconductors in Focus as NEC Director Says Some China Controls May Be Eased

Semiconductors were in focus on Monday as National Economic Council Director Kevin Hassett said that the U.S. could ease some export curb controls to China as part of trade talks.

However, export controls on high-end versions of NVIDIA's chips will not be eased, due to national security issues, Hassett said in an interview on CNBC.

Representatives from the U.S. and China, including Treasury Secretary Scott Bessent, are meeting in London today to further discuss trade between the two countries.

Apple Faces AI, Regulatory Challenges as It Woos Software Developers

Apple is facing an unprecedented set of technical and regulatory challenges as some of its key executives are set to take the stage on Monday at the company's annual software developer conference.

On the technical side, many of the long-awaited artificial-intelligence features Apple promised at the same conference a year ago have been delayed until next year, even as its rivals such as Alphabet's Google and Microsoft, woo developers with a bevvy of new AI features. Those unfulfilled promises included key improvements to Siri, its digital assistant.