US stocks are set to open higher. Starbucks is to cut 1100 corporate jobs worldwide

Major US indices are set to open higher. Futures are implying:

• Dow industrial average +207 points
• S&P index up 27 points
• NASDAQ index up 92 points

Some company highlights:

• Starbucks Layoffs & Corporate StreamliningStarbucks plans to lay off 1,100 corporate employees globally as CEO Brian Niccol aims to streamline operations. Employees will be notified by mid-day Tuesday, and several hundred unfilled positions will also be eliminated. Niccol seeks to increase efficiency, accountability, and integration while reducing complexity. The layoffs do not affect baristas, roasting, or warehouse staff. Starbucks employs 16,000 corporate support staff. Shares are up 0.49% in premarket trading.

• Microsoft Data Center ReportsA Jefferies analyst report suggested Microsoft is scaling back U.S. data center leases, but Microsoft strongly refuted these claims according to CNBC. Shares are up 0.32% in premarket trading.

• Apple’s $500 Billion U.S. InvestmentApple CEO Tim Cook met with Trump last week before announcing a $500 billion U.S. investment over four years, its largest-ever commitment. The investment focuses on AI, silicon engineering, and workforce development, including doubling its Advanced Manufacturing Fund and expanding in Texas. Apple also plans to hire 20,000 employees. Cook stated, “We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future.” Apple shares are down -0.64% in premarket trading.

• Nvidia Earnings PreviewNvidia will report earnings Wednesday after market close. Analysts expect EPS of $0.84 (vs. $0.51 YoY) and revenues of $38.08B (vs. $22.1B YoY). Shares are up 1.76% in premarket trading, with the stock up 84% from last year’s earnings release.

• AMD Data Center SaleAMD is exploring selling its data center business. Shares are up 0.73% in premarket trading, though the stock remains 50% below its March 2024 high.

Last week:

• Dow industrial average fell -2.51% – the weakest since October 2024.
• S&P index fell -1.66%. It’s worse trading week since January 6.
• NASDAQ index fell -2.51%. It worst trading week since November 11
• Russell 2000 fell -3.71%. That was it trading week since December 16.

This article was written by Greg Michalowski at www.forexlive.com.