4 stocks to watch on Monday: Amazon, Nike and more
Robert Way
U.S. stock index futures on Monday pointed to a lower open, with Wall Street on track to extend last week's losses following the Federal Reserve's message of higher rates for longer. Investors this week will also have an added headache to deal with in the form of a looming potential federal government shutdown. Here are some stocks to watch on Monday: 

Amazon (NASDAQ:AMZN) stock was among the most actively traded ahead of the opening bell, up 0.4%. The retail and tech giant said it would invest up to $4B in artificial intelligence (AI) startup Anthropic, which will include a minority stake in the company. The two parties will collaborate on generative AI, with Amazon Web Services becoming Anthropic's main cloud provider for workloads. The move by Amazon represents its most significant ratcheting up yet of its AI capabilities.
Shares of Oneok (OKE) were also among the most actively traded ahead of market open, slipping 0.2%. The company on Thursday said its $18.8B acquisition of Magellan Midstream (MMP) had been approved by its shareholders and MMP unitholders. The deal is expected to close before the opening bell. The deal had earlier faced opposition from one of MMP's largest holders, Energy Income Partners. Major proxy advisers ISS and Glass Lewis had recommended that shareholders vote in favor of the transaction.
Nike (NKE) retreated more than 1.5% in pre-market trading, after Jefferies downgraded the stock just ahead of the company's earnings report this week. The brokerage warned that U.S. consumers were likely to reduce spending going forward, with clothing and footwear "being the most likely areas of pullback." Jefferies also sees incremental risk ahead for Nike (NKE) amid continued pressure on the wholesale channel and macro headwinds in China.
Shares of Thor Industries (THO) will be in focus, with the company scheduled to announce its FQ4 2023 results after the closing bell. Thor (THO), which calls itself the world's largest maker of recreational vehicles, is expected to earn 96 cents per share on revenue of $2.43B. THO had trimmed its full year sales outlook back in June, with management noting the impact of still-bloated inventories.

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