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US equity futures pushed higher before Tuesday's open, with Dow futures up 0.5% and both S&P 500 and Nasdaq 100 contracts adding 0.3%. Bonds and oil also moved lower ahead of the opening bell.
Power deals dominate the tape
The morning's loudest story is electricity for artificial intelligence. Google struck a long-term supply agreement with Constellation Energy, and the shares jumped more than 6% on the news, with Alphabet also gaining. One report pegged the nuclear arrangement at about $1B, while Constellation had already signed a separate deal with Amazon.
That pulled the rest of the merchant power complex along. Vistra and NRG Energy both ranked among the top S&P 500 gainers before the open as traders extended the read-across from one contract to the whole group.
Option Care Health posted the morning's biggest move, surging 20% on reports that McKesson and Clayton Dubilier & Rice are in late-stage talks to buy the home infusion provider. NeoGenomics gained 5% following a leadership succession plan and preliminary third-quarter revenue.
Freshworks climbed 3.9% ahead of its addition to the S&P SmallCap 600, while Leidos gained 3.7% after setting the date for its next earnings call. Corteva rose 3.5% following a JPMorgan upgrade, Charter Communications added 3.4%, and Skyworks Solutions gained 2.5% following results of its exchange offers.
Chips and research calls move the rest
Semiconductors stayed firm after the Nasdaq Composite's record close on Monday. AMD climbed close to 2% after CEO Lisa Su said the company intends to lift chip supply sharply next year to meet demand, while Citi also lifted its target.
Analyst activity drove several other moves. Procter & Gamble added 1.2% on an Evercore ISI upgrade, while Nike slipped 1.3% after Berenberg cut the stock to Sell.
Dealmaking also lifted Lennar 1.5% after Berkshire Hathaway disclosed a stake of roughly 2.4 million shares. Elsewhere, Zscaler gained 2.2% after standing by its fiscal 2027 revenue and profit guidance.
