【US Pre-Market】Tesla, Other Commercial Space Stocks in Focus; Bitcoin Approaches $80,000, Driving Crypto Stocks Higher as MSTR Rallies Over 10%, COIN Gains More Than 5%

TradingKey - On Friday (August 21) US Eastern Time, futures on the three major US stock indexes rebounded in pre-market trading, as the market attempted to recover from the sell-off triggered by rising bond yields and weak retail stocks in the previous session. Bitcoin extended its strength, and sentiment around tech stocks recovered slightly. However, the 10-year US Treasury yield edged back toward 4.7%, and coupled with Middle East tensions and the upcoming Jackson Hole economic symposium next week, overall market sentiment remained cautious.

As of press time, Dow futures were up about 0.54%, S&P 500 futures rose about 0.49%, and Nasdaq 100 futures gained about 0.76%.

Performance of futures on the three major US stock indexes. Source: Investing

In commodities, gold (XAUUSD) maintained its strength, briefly breaching $4,600 intraday and trading above $4,590 at last check, as a weaker dollar and US debt concerns continued to reinforce the "hard asset" trade. International oil prices pulled back slightly from high levels, with WTI (USOIL) crude rising to around $87.1 and Brent crude rising to near $94. Escalating US economic pressure on Iran and lingering shipping risks in the Strait of Hormuz continued to support crude oil's risk premium.

In cryptocurrencies, Bitcoin (BTC) extended this week's rally, climbing to an intraday high of $79,500. Trump's push for Congress to pass the crypto market structure bill and the US Treasury's expanded long-term debt buybacks improving liquidity expectations continued to spur pre-market strength in digital asset-related stocks.

Market Moves

Ross Stores (ROST) rose over 8% in pre-market trading. The company's second-quarter sales increased 13% year-over-year to $6.3 billion, with same-store sales up 10% and earnings per share at $2.66, significantly beating previous guidance. The company raised its fiscal year 2026 EPS guidance to $8.61–$8.77 and increased its full-year new store opening plan from 110 to 115, as resilient demand for off-price retail continues to be favored by the market.

Crypto-related stocks continued their strength in pre-market trading. After Bitcoin broke above $79,000, it lifted MicroStrategy (MSTR) up over 9% in pre-market trading, while Coinbase (COIN), Robinhood (HOOD), and Marathon Digital (MARA) remained in focus.

Tesla (TSLA) and commercial space stocks drew attention in pre-market trading. Reports indicate that Tesla obtained an Autonomous Vehicle Network permit in Nevada, allowing it to advance paid Robotaxi services in Las Vegas. Meanwhile, the White House updated the National Space Transportation Policy, aiming to support over 1,000 launch and reentry activities annually in the U.S. by 2030. Rocket Lab (RKLB), AST SpaceMobile (ASTS), and Intuitive Machines (LUNR), among other commercial space companies, became pre-market focal points.

Market News

The preliminary U.S. S&P Global PMI for August will be released today. At 9:45 a.m. ET on August 21, the U.S. will publish preliminary manufacturing, services, and composite PMI data for August, with markets watching for changes in business activity, orders, and input price pressures.

The U.S. Department of the Treasury expanded its long-term Treasury buyback program. The Treasury announced that from September 9 to November 4, it will increase the maximum operation cap for buybacks of 10-to-20-year and 20-to-30-year long-term nominal Treasuries from $2 billion to at least $4 billion to enhance long-end Treasury liquidity.

The Trump administration is pushing for stricter economic pressure on Iran. According to reports, U.S. Treasury Secretary Bessent stated that the U.S. will enforce the "toughest sanctions in history" and blockade measures against Iran, while Iran accused the moves of constituting "economic terrorism."

The White House updated the National Space Transportation Policy. The Office of Space Commerce under the U.S. Department of Commerce stated that Trump issued a new edition of the National Space Transportation Policy, aiming to support more than 1,000 launches and re-entries annually within the U.S. by 2030, and requiring relevant agencies to improve spectrum, launch sites, and commercial space transportation infrastructure.

Key Data/Events Preview

At 9:45 AM ET on August 21, the U.S. released the preliminary August S&P Global Manufacturing, Services, and Composite PMIs.

At 12:45 PM ET on August 21, the New York Fed released the Staff Nowcast.