Major US indices are set open higher. Futures are implying:

  • Dow industrial average +207 points
  • S&P index up 27 points
  • NASDAQ index up 92 points

Starbucks plans to lay off 1,100 corporate employees globally as CEO Brian Niccol streamlines operations. Employees will be notified by mid-day Tuesday, with several hundred unfilled positions also eliminated. Niccol aims to increase efficiency, accountability, and integration while reducing complexity. The layoffs do not affect baristas, roasting, or warehouse staff. Niccol previously signaled corporate restructuring to eliminate silos and improve decision-making within the company. There are 16,000 corporate support staff at Starbucks. Shares of Starbucks are currently up 0.49% in premarket trading

There is report earlier from a Jeffries analyst that Microsoft was dialing back leases for a significant amount of US data center capacity. Microsoft has strongly refuted those claims for their data center strategy according to CNBC.. Microsoft shares are trading up 0.32% in premarket trading.

Apple CEO Cook met with Trump at the end of last week. Overnight, Apple announced a $500 billion investment in the U.S. over the next four years, its largest-ever commitment, supporting AI, silicon engineering, and workforce development. CEO Tim Cook emphasized Apple’s dedication to American innovation, stating, “We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future.” The investment includes doubling Apple’s Advanced Manufacturing Fund and advancing technology in Texas. They also expect to hire 20,000 employees. Apple shares are still down -0.64% in premarket trading.

Nvidia will announce their earnings this week (on Wednesday after the close. EPS is expected at $0.84 (versus $0.51 a year ago) while revenues are expected at $38.08 billion versus $22.1 billion a year ago. The share price from a year ago earnings is up around 84%.. Nvidia shares are trading up 1.76%..

AMD is looking to sell their data center plans. In premarket trading the price is up 0.73%, but is down some 50% from it's March 2024 hi.

Source: Forex Live