Wall Street futures dipped on Monday as investors braced for a busy week of major earnings reports that could either support or disrupt the market's ongoing rally.

Market Snapshot

At 7:50 a.m. ET, Dow E-minis were down 84 points, or 0.19%, S&P 500 E-minis were down 18.75 points, or 0.32% and Nasdaq 100 E-minis were down 122.75 points, or 0.6%.

Pre-Market Movers

Tesla - Tesla was down 1.3% in premarket trading ahead of third-quarter earnings Wednesday from the electric-vehicle maker. A focus for investors this time around will be profit margins, which Wall Street expects at about 8% compared with 7.6% a year earlier.

Boeing - Boeing and the leaders of its striking machinists union reached anew tentative agreementthat could end a strike that has halted production of the aerospace company’s 737 MAX and 777 planes. Boeing’s latest proposal includes a wage increase of 35% over four years, up from its original offer of 25% that was rejected Sept. 12. The strike, by about 33,000 workers in the Pacific Northwest, began the next day. Workers will vote Wednesday on the new offer. Boeing shares rose 3.2%.

Spirit Airlines, JetBlue, Frontier Group - Struggling carrier Spirit Airlines received adebt-refinancing extension, sending the stock up 41% in premarket trading to $2.06. Spirit was facing a deadline of Monday to refinance more than $1.1 billion in debt. That deadline has been pushed back to late December, the company said in a securities filing. Spirit also said it has hasborrowed all $300 millionavailable under a credit line.

The news, and its likely impact to delay a bankruptcy filing from the struggling carrier, drove shares of JetBlue 6% lower and Frontier Group lower by 1.3%.

Kenvue - Kenvue rose 9% in premarket trading after The Wall Street Journal reported activist investor Starboard Valuehas taken a sizeable stakein the maker of Tylenol and Listerine. Starboard wants Kenvue, which was spun out of Johnson & Johnson last year to make changes to boost its share price, people familiar with the matter told the Journal. Kenvue shares have risen less than 1% this year.

Sirius XM - Billionaire investor Warren Buffett’s Berkshire Hathaway has continued to buy shares in the broadcasting and radio company SiriusXM, adding more than 1.5M shares to push its stake above 32% last week. SiriusXM shares gained 3% in premarket trading.

Southwest Airlines - Southwest Airlines stock fell 1.3% following a report that discussions have occurred that would give the Elliott Investment Management, an activist investor, a significant representation on the carrier’s board.

Cigna, Humana - Cigna has renewed its pursuit of a merger with smaller rival Humana after talks fell apart late last year, Bloomberg reported, citing people familiar with the matter. The two health insurance companies have held informal discussions recently about a potential deal. The talks were described at being in the early stages. Humana stock rose 4.1% in premarket trading, while Cigna declined 3.6%.

UPS - United Parcel Service declined 1.9% to $133.39. Analysts at Barclays downgraded shares of the package delivery giant to Underweight from Equal Weight and left their target price unchanged at $120.

Canada Goose - Goldman Sachs downgraded Canada Goose to Sell from Neutral with a price target of $9, down from $11.50. Canada Goose shares dropped 4.5% in premarket trading.

ServiceNow - ServiceNow stock fell 2.4% after Morgan Stanley downgraded the software company to “equal-weight” from “overweight”, citing the lack of meaningful valuation upside.

Siyata Mobile - Siyata Mobile Inc., a global vendor of Push-to-Talk over Cellular ("PoC") devices, today announced Siyata's next-generation SD7 Ultra series 5G mission-critical push-to-talk (MCPTT) cellular radio handsets will be available on T-Mobile's 5G network – the nation's largest. Siyata Mobile shares soared 125% in premarket trading.

Market News

China Cuts Key Lending Rates to Support Growth

China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.

The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10% from 3.35%, while the five-year LPR was cut by the same margin to 3.6% from 3.85% previously.

The lending rates were last cut in July.

People's Bank of China (PBOC) Governor Pan Gongsheng told a financial forum last week lending rates will decrease by 20 to 25 basis points on Oct. 21.

Boeing Workers to Vote on New Wage Deal That Could End Strike

Striking machinists at Boeing will vote Wednesday on a new contract proposal that includes a 35% pay hike over four years that could end a costly five-week-old strike, the company and union said Saturday.

Around 33,000 of Boeing's unionized West Coast workers, most in Washington state, have been on strike since Sept. 13. The work stoppage has halted production of the planemaker's best-selling 737 MAX and its 767 and 777 widebodies, putting added pressure on the company's already fragile finances.

The latest offer includes a $7,000 ratification bonus, reinstated incentive plan and enhanced contributions to workers' 401(k) retirement plans including a one-time $5,000 contribution plus up to 12% in employer contributions, International Association of Machinists and Aerospace Workers Local 751 said.