3M, Jabil, XPeng, Alibaba, Nvidia, and more stock market drivers

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Stock futures pointed slightly higher on Monday with

Standard & Poor’s 500
This week comes on from a successful week after Federal Reserve Chairman Jerome Powell’s remarks indicated that the US central bank will move cautiously on interest rate hikes.

These stocks were poised to make moves on Monday:

3M

(MMM) rose 4.6% in pre-market trading after a report from The Wall Street Journal said the company and plaintiffs’ attorneys were approaching settlement 3M will pay $5.5 billion to settle allegations that it sold defective combat earplugs to the US military. People close to the discussions told the newspaper that negotiations are continuing, and the final amount has not yet been determined.

Byblos

(JBL) has reached an agreement to sell its mobility business to

BYD Electronic
,

A subsidiary of China Electric Vehicle Industry Corporation

BYD
,

In a deal valued at about $2.2 billion. with the current situation,

Byblos

It said the deal would be the largest in the contract electronics manufacturer’s history. Jabil shares rose 2.4% in pre-market trading.

Stocks listed in the United States

XPeng

(XPEV) jumped 4.7% after the Chinese electric car maker announced it would take over

Didi Global

DIDI’s smart car development business for $744 million.

American depository receipts

Ali Baba

(Baby) rose 1%,

JD.com

And profit (JD) 1.5%

Baidu

Beidou shares rose 1 percent after the Chinese government said it would cut tax on trading and take other steps to boost capital markets.

nvidia

(NVDA) is up 1% in premarket trading. Barron It highlighted that even with the stock jumping 215% this year, the latest earnings report from the leader in artificial intelligence chips made shares cheaper. The forward price-to-earnings ratio, which measures a stock’s current price compared to earnings in the future, often in the following year, shows that Nvidia stock is now cheaper than it has been since Jan. 5, though the stock has risen since then.

Earnings reports are expected this week

HP

(Hbq),

Hewlett-Packard Corporation

(heep),

New

(

New

),

best buy

(BBY),

sales force

(customer relationship management),

Crowd Strike

(crude),

Chewy

(Wheels),

Octa

(octa),

Broadcom

(Avgo), and

Dell Technologies

(del).

Write to Joe Woelfel at [email protected]