Wall Street's main stock index futures showed strong performance on Monday (June 30) after Canada decided to scrap its digital services tax, a move expected to advance trade negotiations with the United States.

As of 7 a.m. ET, S&P 500 futures rose 25.80 points (0.42%) to 6,198.90 , while Nasdaq 100 futures gained 139.90 points (0.62%) to 22,674.10 . Dow Jones Industrial Average futures climbed 227.70 points to 44,047.00 .

The positive momentum follows Friday's (June 27) trading session where U.S. stocks extended their gains, with both the S&P 500 and Nasdaq closing at record highs. The rally has pushed the Nasdaq into bull market territory since hitting its low on April 8.

Market Highlights

On Friday, the S&P 500 closed up 32.05 points at 6,173.07 , while the Dow gained 432.43 points to 43,819.27 . The Nasdaq 100 rose 0.39% to 22,534.20 .

Trading volume reached 22.07 billion shares , significantly higher than the 20-day average of 18.27 billion shares .

Notable Stock Movements

In premarket trading, Tesla (TSLA) shares fell 1.14% to $320.10 after the Senate passed legislation that would eliminate electric vehicle tax credits after September, faster than the House bill's proposed phase-out by year-end. Tesla's CEO has voiced strong opposition to the legislation.

Bank stocks showed strength following the Federal Reserve's annual stress tests, which indicated major U.S. banks are well-prepared for a potential severe economic downturn. Wells Fargo (WFC) rose 2.0% , JPMorgan Chase (JPM) gained 0.68% , and Goldman Sachs (GS) jumped 2.64% .

Meta Platforms (META) advanced 1.88% to $747.39 as the company seeks to raise $29 billion through private equity, including $3 billion in funding and $26 billion in bond issuance, to support its AI data center construction plans in the U.S.

Nvidia-Related Stocks in Focus

Several stocks linked to Nvidia (NVDA) , which rose 0.65% to $158.78 , showed notable activity:

Cyngn Inc (CYN) surged approximately 171% on June 26 after announcing a partnership with Nvidia to develop industrial autonomous vehicle services using the Isaac robotics platform. The stock gained another 20%+ on Friday.

Nebius Group (NBIS) , which announced on June 11 its capability to produce Nvidia's GB200 Grace Blackwell superchips for European clients, has seen its shares rise nearly 44% . The company plans to deploy thousands of Nvidia's Blackwell Ultra GPUs starting in Q4 2025 across seven AI centers in six countries.

CoreWeave Inc (CRWV) became the first provider to fully launch Nvidia Grace Blackwell cloud services, with shares climbing over 33% . The company's GB200 NVL72 computing platform has demonstrated strong performance in AI model training and inference services.

Arbe Robotics (ARBE) , which utilizes Nvidia's Drive AGX platform for its ultra-high-definition radar technology, has gained more than 5% as investors anticipate its impact on autonomous vehicle development.

Collectively, Nvidia-related stocks have shown remarkable performance: Cyngn up 233%+ , Nebius Group nearly 44% , CoreWeave over 33% , and Arbe Robotics exceeding 5% gains.