The trading definition of what is stock futures matches investor behavior — today’s biotech futures rallied 1.2% after FDA fast-tracked a new cancer drug approval. Keep in mind, however, that following that spike, sales could drop off in the fourth quarter, which could lead to one last stock drop for the sturdy-but-embattled Tesla in 2025. Correction: A previous version misstated the size of the notes offering. What is stock futures trending? With inflation cooling in key reports, futures on consumer staples are outperforming, reflecting investor rotation into defensive sectors.