Key insights
- Tesla shares rallied nearly 5% premarket after demonstrating its new Roadster model, with production slated for 2028. Separately, Strategy shares fell 3% as MSCI announced new index eligibility rules that could lead to the company's exclusion, impacting its substantial digital asset holdings.
Investing.com - U.S. stock futures pointed higher on Friday as concerns surrounding the artificial intelligence boom eased, although the S&P 500 and Nasdaq Composite remained on track for weekly declines. Investors continued to assess the outlook for AI spending and the potential impact of index changes, while Tesla shares rallied after the company demonstrated its long-awaited Roadster.
By 05:21 ET, S&P 500 futures had gained 15 points, or 0.2%, while Dow futures climbed 183 points, or 0.4%. Nasdaq 100 futures were mostly unchanged. For the week, the S&P 500 was down almost 1% and the tech-heavy Nasdaq Composite had fallen more than 2%, while the Dow was on course to gain around 1%.
Here are some of the biggest premarket U.S. stock movers today:
Tesla shares rose nearly 5% in premarket trading after the electric vehicle maker unveiled its new Roadster model during a live demonstration on Thursday evening. The event at SpaceX’s McGregor, Texas, test facility showcased the vehicle using pressurized air to perform a controlled jump and correct its orientation before landing on all four wheels.
Chief Executive Elon Musk said production of the long-awaited vehicle was set to begin in 2028, adding “actually” as he outlined the timeline. The demonstration renewed investor attention on the Roadster as Tesla continues to develop its broader vehicle and technology ambitions.
Strategy fell 3% in premarket trading after MSCI announced new rules that could result in the company being excluded from its indexes. The decision followed a consultation on the eligibility of non-operating companies and is scheduled to take effect with the November index review.
Under the new methodology, MSCI will assess companies using screens for operating assets and five financial ratios, replacing interim restrictions that had targeted firms with digital asset holdings accounting for at least 50% of total assets. The potential exclusion adds uncertainty for Strategy, whose substantial digital asset exposure has made it a focal point of debates over index eligibility.
Netflix dropped 2% in premarket trading after announcing a leadership change in its content division. Peter Rice, the former chairman of Walt Disney Television, will join the streaming company as chief content officer on October 26, replacing Bela Bajaria, who is leaving after nearly a decade at Netflix.
At Disney, Rice oversaw content operations for ABC, FX, Hulu and National Geographic, managing more than 300 shows annually. At Netflix, he will oversee scripted and unscripted series, films and live events across all regions.
CoreWeave fell 3.8% to $67.10 in premarket trading as investors continued to scrutinize the AI cloud computing company’s debt burden and the cost of expanding AI infrastructure. Concerns over its approximately $50 billion in debt have weighed on sentiment, amid broader questions about whether future AI revenue will justify the scale of current investment.
The decline came as AI-related stocks faced renewed pressure globally, with investors reassessing the sustainability of spending on data centers and computing capacity.
Cohen & Steers surged 5.8% following its third-quarter 2026 results, which showed $1.6 billion in net inflows. The investment management firm recorded its fifth consecutive quarter of organic growth and its strongest inflow quarter since the fourth quarter of 2021.
Adjusted earnings came in at $0.89 per share, slightly below analyst expectations of $0.92, while revenue increased 11% from a year earlier to $157.4 million. Chief Executive Joseph Harvey said the results provided further evidence that the company’s growth strategy was gaining traction, pointing to positive contributions across multiple investment strategies, products and client channels.
Alcoa gained 2.5% after reporting third-quarter results in which stronger-than-expected earnings outweighed a modest revenue shortfall. Adjusted earnings reached $1.82 per share, beating analyst expectations of approximately $1.54, while revenue totaled $3.7 billion, slightly below forecasts but up 24% from the same period a year earlier.
Free cash flow rose to $472 million and adjusted EBITDA reached $789 million, reflecting improved production throughput and operational performance.
Site Centers surged 18.3% after the real estate investment trust announced a $3.00-per-share special dividend and the sale of its stake in the Dividend Trust Portfolio joint venture. The company received net proceeds of approximately $32.4 million from the sale.
The board declared the special cash distribution payable on November 5, 2026, to shareholders of record at the close of business on October 27. The announcement provided a significant near-term shareholder payout and drove the stock sharply higher in premarket trading.
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