5 Things to Know Before the Stock Market Opens

Intel (INTC) shares are surging in premarket trading as Apollo Global Management reportedly mulls an investment, days after another report of a Qualcomm (QCOM) takeover approach; Palantir Technologies (PLTR) and Dell Technologies (DELL) become members of the S&P 500 today; Taiwan Semiconductor Manufacturing Co. (TSM) and Samsung Electronics reportedly have been considering building UAE chip megafactories; AstraZeneca (AZN) shares are falling as its breast cancer drug misses its target; and China’s sudden call for a press briefing tomorrow is raising expectations of a massive stimulus plan by regulators. U.S. stock futures are edging higher after the Federal Reserve‘s jumbo-sized interest-rate cut last week. Here’s what investors need to know today.

1. Intel Stock Surges on Apollo, Qualcomm Reports

Intel (INTC) shares are jumping 4% in premarket trading after Bloomberg reported on Sunday that asset manager Apollo Global Management has offered to invest as much as $5 billion in the struggling chipmaker. The news came after The Wall Street Journal reported on Friday afternoon that Qualcomm (QCOM) has approached Intel about a potential acquisition. Intel shares have lost more than half their value this year. 

2. Palantir, Dell Entering S&P 500 Today

Palantir Technologies (PLTR) stock is slipping 1% and Dell Technologies (DELL) is edging lower in premarket trading as the two companies join insurer Erie Indemnity (ERIE) in becoming members of the S&P 500 today. However, the data-analytics firm and the PC maker have both seen their shares gain in the runup to today’s benchmark index entry. The companies will be replacing American Airlines Group (AAL), Etsy (ETSY), and Bio-Rad Laboratories (BIO).

3. TSMC, Samsung Reportedly Mulling UAE Chip Megafactories

Taiwan Semiconductor Manufacturing Co. (TSM) and Samsung Electronics reportedly have been considering building large new factories in the United Arab Emirates to meet surging demand for artificial intelligence (AI) computing. According to The Wall Street Journal, the projects being discussed “involve complexes that could contain numerous factories and cost over $100 billion in aggregate,” but “government officials and industry executives say substantial technical and political hurdles remain.”

4. AstraZeneca Experimental Cancer Drug Misses Target Again

AstraZeneca’s (AZN) American depositary receipts (ADRs) are falling about 2% after the pharma giant said its experimental cancer drug datopotamab deruxtecan, jointly developed with Japan’s Daiichi Sankyo, failed to meet goals in a Phase 3 breast cancer trial. The news comes just weeks after the Anglo-Swedish firm said a late-stage trial of the same drug didn’t significantly improve patients’ overall lung cancer survival rates.

5. China’s Impromptu Press Briefing Call Fuels Stimulus Hopes

China announced plans for an ad-hoc press briefing tomorrow on the economy by its financial regulators, including its top central banker—fueling investor hopes that Beijing is planning to issue large stimulus measures to boost the hard-hit economy. Bloomberg reported that some economists are expecting the regulators to cut policy rates or the amount banks need to set aside as reserves, and also measures to support the country’s troubled housing market. The People’s Bank of China also lowered its 14-day reverse repurchase rate Monday.

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