U.S. stock futures are on a slight decline as investors keep an eye on the Middle East situation following the recent U.S. attack on Iran. Despite the tension, oil futures are up marginally. The Nasdaq and S&P 500 futures are showing a 0.2% dip after a modest drop in the indexes last Friday. Dow Jones Industrial Average futures are down by 0.3% following a slight gain at the end of the previous week. Bitcoin has seen a 2.5% rise to about $101,500 after dropping below $99,000 over the weekend. Gold futures and the 10-year Treasury note yield remain relatively stable.
Tesla shares are experiencing a minor uptick of less than 1% in premarket trading as the electric vehicle giant launches its driverless robotaxi service in Austin, Texas. CEO Elon Musk hailed the launch as the culmination of years of effort, expressing optimism about Tesla’s future growth potential. Analysts predict that Tesla’s market cap, currently above $1 trillion, could potentially double by the end of 2026 if the robotaxi service gains traction.
Chicago-based financial services company Northern Trust has seen its stock surge nearly 5% in premarket trading amid reports of merger talks with Bank of New York Mellon. While Northern Trust has shown little interest in a deal, discussions with BNY could lead to a formal bid. BNY shares, however, remain relatively stable amidst these developments.
Stellantis shares are down over 2% in premarket trading as the automaker’s new CEO, Antonio Filosa, takes the reins and announces a new leadership team. The company, facing sales declines and pressures from U.S. tariffs, has suspended its full-year outlook due to uncertainties surrounding import taxes. Stellantis shares have dropped nearly 30% since the beginning of the year.
Major U.S. health insurers have revealed plans to simplify and expedite the prior authorization process, benefiting around 257 million Americans across various insurance markets. The changes, spearheaded by health insurance trade association AHIP, will impact commercial coverage, Medicaid managed care, and Medicare Advantage plans. This initiative follows increased scrutiny on the prior authorization process, notably after the tragic murder of UnitedHealthcare CEO Brian Thompson last December.
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