Apple, Nvidia and Southwest Airlines rise premarket; PDD Holdings falls

Investing.com -- U.S. stock futures surged Tuesday, with investors buoyed by the Trump administration’s postponement of hefty levies of EU imports, potentially avoiding a costly trade war.

Here are some of the biggest premarket U.S. stock movers today:

• Nvidia (NASDAQ:NVDA) stock rose 2.5% ahead of its quarterly earnings on Wednesday, with investors looking for answers on how much U.S. chip curbs on China will cost the chip giant.

• Apple (NASDAQ:AAPL) stock rose 1.6% after data showed that U.S. iPhones shipped from India in April reached roughly 3 million, up 76% year on year.

• PDD Holdings (NASDAQ:PDD) stock fell 17% after the Chinese e-commerce company missed estimates for first-quarter revenue on Tuesday, as its domestic platform Pinduoduo suffered from weak consumer sentiment while its international business Temu was hit by uncertain global trade policies.

• Trump Media & Technology (NASDAQ:DJT) stock surged 8.9% after a report said Trump’s social media firm planned to raise about $3 billion to spend on cryptocurrencies such as bitcoin.

• Tesla (NASDAQ:TSLA) stock rose 2.2% despite data showing European sales nearly halved in April from last year, falling for the fourth straight month, as a backlash against CEO Elon Musk’s political views combined with a tepid reception for the new Model Y and heightened competition from European and Chinese players.

• Southwest Airlines (NYSE:LUV) stock rose 2.9% after the carrier announced it will charge customers $35 for one checked bag and $45 for the second, bringing an end to its free luggage policy.

• Salesforce (NYSE:CRM) stock gained 1.5% after the WSJ reported that the software company is nearing an agreement to acquire Informatica in a deal valued at approximately $8 billion.

• AutoZone (NYSE:AZO) stock rose 0.9% after the auto parts company reported a surge in quarterly sales, while expanding with 84 new stores.

• AMC Entertainment (NYSE:AMC) stock surged 4% after the cinema chain set weekend records for the Memorial Day holiday for admissions revenue, food & beverage revenue and overall revenue at its domestic locations.