Apple, SpaceX, Intel, Palantir, and More Stocks That Explain Today’s Market

Traders working on the floor of the New York Stock Exchange. (ANGELA WEISS/AFP via Getty Images)

Stock futures were rebounding on Monday as investors got over the worst of their worries about artificial-intelligence spending, which sparked a brutal selloff last week.

AI stocks were rebounding. Coherent , Corning, Dell, Lumentum, Marvell, Sandisk, Seagate, SpaceX, Super Micro Computer Inc., and Western Digital all rose ahead of the opening bell.

Intel missed out on the rally though. Shares of the chip maker slid 0.7%, having tanked 29% on Friday after it provided a weak outlook for the current quarter. That selloff was the stock’s worst session on record.

Apple also slid, down 0.4% in premarket trading. The iPhone maker, which on Friday overtook Nvidia to become the world’s largest company, is set to report its fourth-quarter earnings after Monday’s closing bell.

Okta added 3.1%. The cybersecurity company is set to replace Tylenol and Band-Aid maker Kenvue in the S&P 500 before trading begins on Wednesday.

Palantir climbed 1.2%. The data analytics software developer is set to post its third-quarter earnings after the close.

Write to George Glover at george.glover@dowjones.com

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