Nvidia, Eli Lilly and AT&T rise premarket; PDD Holdings falls

Investing.com -- U.S. stock futures slipped lower Tuesday, with sentiment hit by concerns about the independence of the Federal Reserve after U.S. President Donald Trump announced the firing for Governor Lisa Cook.

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

• Nvidia (NASDAQ:NVDA) stock rose 0.4% with the chip designer’s business in China set to be the focus of investors when the AI darling reports earnings on Wednesday.

• Eli Lilly (NYSE:LLY) stock rose 2.2% after the pharmaceutical giant announced positive results from a Phase 3 trial of its oral weight loss pill, paving the way for global regulatory submissions this year.

• AT&T (NYSE:T) stock rose 0.4% after the telecom giant agreed to purchase certain wireless spectrum licenses from EchoStar for about $23 billion, as it scales its network to stay ahead in a competitive market.

• PDD Holdings (NASDAQ:PDD) stock fell 1% after New Street Research downgraded the Temu parent company to ‘neutral’ from ‘buy’, pointing to limited revenue growth prospects and uncertain margin visibility despite a stronger-than-expected second-quarter performance.

• Advanced Micro Devices (NASDAQ:AMD) stock rose 2.2% after Truist upgraded the computer hardware manufacturer to ‘buy’ from ‘hold’, citing improving sentiment from industry contacts around the company’s data center and AI positioning.

• Interactive Brokers (NASDAQ:IBKR) stock rose 4.1%, with the trading platform set to join the S&P 500 before markets open on August 28.

• Wolfspeed (NYSE:WOLF) stock rose 3% after the chipmaker surpassed quarterly revenue expectations, even as the magnitude of its operating and net losses raised concerns among investors.

• Spotify Technology (NYSE:SPOT) stock rose 0.1% after the music streaming service said it will start rolling out a messaging feature this week to both free and premium subscription tiers.