US Morning News Call | Futures Climb on Venezuela Oil Blockade

$E-mini NASDAQ 100 Futures (MAR6) (NQmain.US)$ went up by 0.44%;

$E-mini S&P 500 Futures (MAR6) (ESmain.US)$ went up by 0.36%;

$E-mini Dow Futures (MAR6) (YMmain.US)$ went up by 0.22%.

$Tesla (TSLA.US)$ could face a 30-day suspension of vehicle sales in California for allegedly misleading customers about its Autopilot and Full Self-Driving features, Bloomberg reported. The state's DMV has asked an administrative judge to determine if a suspension is warranted, with the penalty taking effect after a 90-day compliance period. Shares of Tesla reached a record high on Tuesday amid optimism surrounding its Robotaxi plans.

The White House is drafting an executive order to limit dividends, buybacks, and executive pay at defense contractors with delayed or over-budget projects, according to Reuters. The proposal aims to tie compensation more closely to performance. Shares of major contractors, including $Lockheed Martin (LMT.US)$ and $L3Harris Technologies (LHX.US)$, fell in pre-market trading.

$NVIDIA (NVDA.US)$ is set to build Israel's largest server farm, investing roughly $1.5 billion in a 30,000 sq. m. facility near Yokneam, Calcalist reported. The data center will house Blackwell processors and an advanced supercomputer, becoming Nvidia's largest lab outside the U.S. upon completion in about 18 months.

$Rocket Lab (RKLB.US)$ moved up its "Don’t Be Such A Square" mission for the U.S. Space Force for several months, with the launch window opening on Wednesday. The mission will deploy four DiskSats to test maneuverability and electric propulsion capabilities. Shares rose 2.4% pre-market, bringing year-to-date gains to over 116%.

$General Mills (GIS.US)$ reported Q2 non-GAAP EPS of $1.10, beating estimates by $0.07, with revenue of $4.86B exceeding expectations by $80M. While net sales declined 7% year-over-year, organic net sales were down just 1%. The company reaffirmed its fiscal 2026 targets, expecting organic net sales to range between -1% and +1%.

$Bitcoin (BTC.CC)$ dropped 0.92% to $87,056, while $Ethereum (ETH.CC)$ fell 1.08% to $2,930.

$Micron Technology (MU.US)$ is expected to report revenue of $12.8 billion, with EPS forecast at $3.91. The company currently holds a market cap of $260.98 billion.