Text size

Stock futures were higher Monday after a deal was agreed to extend the U.S. debt ceiling for two years over the Memorial Day weekend. Tech stocks, and AI-focused companies in particular, were once again leading markets higher.

These stocks were poised to make moves Monday:

Nvidia

(ticker: NVDA) stock rose 3% ahead of the open after the chip maker unveiled a raft of new AI-related products at a conference in Taiwan over the weekend, including a new supercomputer. The company’s market cap sits just below $1 trillion after the shares rallied 24% following its first-quarter earnings.

Marvell Technology

(MRVL), which surged 32% Friday as it forecast AI to be a long-term growth driver, was pointing around 4% higher in early premarket trading Monday.

Other AI names also moved higher, as

C3.ai

(AI) stock rose 6% and

Palantir Technologies

(PLTR) climbed 5%. Shares in cloud-computing company

Nutanix

(NTNX) surged more than 7%.

Virgin Galactic

(SPCE) stock looked to set to regain some of the ground it lost Friday following its first completed crewed flight since July 2021 last week. The shares, which tumbled 16% , were more than 5% up early Monday.

Iovance Biotherapeutics

(IOVA) was the biggest riser, climbing more than 16% after the company’s license application for its advanced skin cancer treatment lifileucel was approved by the Food and Drug Administration.

Earnings reports are expected Tuesday from

HP Inc.

(HPQ),

Hewlett Packard Enterprise

(HPE),

Box

(BOX),

Ambarella

(AMBA), and

U-Haul Holding

(UHAL).

Write to Callum Keown at [email protected]