U.S. futures slip; Disney, Charter reach distribution deal - what's moving markets

investing.com:

Investing.com -- U.S. stock futures decline after a spike in Tesla's (NASDAQ:TSLA) shares bolsters equities on Monday, as traders look ahead to the release of major economic data later in the week. Elsewhere, British chip designer Arm will reportedly stop taking orders for its much-anticipated initial public offering a day early due to solid investor demand, while Disney and Charter Communications reach a distribution deal to end a TV blackout that threatened to leave millions of households unable to tune in to the first «Monday Night Football» game of the season.

1. Futures slip after positive day on Wall Street

U.S. stock futures fell on Tuesday, pointing to a lower open after a positive day on Wall Street that featured a surge in shares of electric carmaker Tesla.

At 05:53 ET (09:53 GMT), the Dow futures contract had shed 56 points or 0.2%, S&P 500 futures lost 11 points or 0.2%, and Nasdaq 100 futures dipped by 42 points or 0.3%.

The three main indices rose on Monday. Fueling the upticks were Tesla shares, which gained more than 10% after analysts at Morgan Stanley suggested that the company's Dojo supercomputer could give it access to new opportunities beyond «selling cars at a fixed price.» The analysts added that the Elon Musk-led business may see its market value jump by $600 billion thanks to the technology.

Qualcomm (NASDAQ:QCOM) also announced that it had extended a deal to supply 5G chips to Apple (NASDAQ:AAPL) until 2026, sending shares in the U.S. semiconductor designer higher by almost 4%.

Looming in the background for equity markets is a slate of major U.S. economic data this week that includes a fresh look at inflation and retail prices. The figures will likely inform whether the Federal Reserve chooses