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US equity futures slipped before Monday's open, with Dow E-minis off 101 points, or 0.2%, S&P 500 E-minis down 0.18% and Nasdaq 100 E-minis lower by 0.25% at 06:20 ET.
Bond markets set the mood, as the 10-year Treasury yield sat at 5.28% near multi-year highs while Brent hovered around $100 a barrel.
PTC surged 36% in premarket trading. France's Schneider Electric struck an all-cash agreement to buy the software maker at $205 a share, putting equity value above $22B. The companies expect to wrap the deal by the third quarter of 2027.
Itau Unibanco and Banco Bradesco each soared more than 13% after Sunday's Brazilian presidential vote. Right-wing candidate Flavio Bolsonaro finished ~2 percentage points ahead of incumbent Luiz Inacio Lula Da Silva.
The iShares MSCI Brazil ETF surged 12% on the same result. Other Brazil-linked names followed, with XP up 17%, StoneCo up 17% and PagSeguro Digital up 16%.
Intel dropped more than 4%, leading chips lower as the sector cooled off record levels. Micron edged down 0.3%, while Nvidia added 0.5% after setting a record high on Friday.
United Microelectronics fell 8.8% to $23.96 before the bell. The chip foundry had gained 4% in Friday's session.
Cerebras Systems climbed 6.6% after OpenAI chief executive Sam Altman described the chip designer as a close partner and pointed to joint work on processing speed.
Upgrades lift financials and retail
DraftKings rose more than 5% following a Bank of America upgrade to buy from neutral. Analyst Julie Hoover sees prediction markets delivering $400M in fees during 2027, plus $200M to $400M from market making.
Wells Fargo gained 1% on a Morgan Stanley upgrade to overweight. Analyst Manan Gosalia argued that slower balance sheet growth should relieve funding pressure and steady net interest margins.
Estee Lauder advanced 2.8% after Barclays lifted the beauty group to overweight from equal weight, pointing to a stronger multi-year growth and earnings outlook.
Vaxcyte soared 52% in premarket trading, one the largest percentage gainer among large movers tracked at 7:35 ET.
RXO jumped 21% to $28.37, while Commercial Metals climbed 15% to $73.13.
Leslie's tumbled 21.1% to $0.11 after the pool supplies retailer signed a restructuring support agreement with its lenders. Xperi slid 9% to $4.96 before the bell.
Monday brings a light calendar, with S&P Global and Institute for Supply Management purchasing managers' surveys the main releases.
Later in the week traders get results from Levi Strauss, Applied Digital, PepsiCo and Delta Air Lines, plus central bank speeches including Federal Reserve Governor Christopher Waller in Istanbul.
Rate markets currently price an 80% chance of the Federal Reserve holding this month, according to the CME FedWatch tool, with a December hike still broadly expected.
