Premarket Stock Movements: Meta, United Airlines, Nvidia Among Key Movers
In premarket trading, several stocks saw significant movements driven by a mix of sector-specific and macroeconomic factors. Tech giant Meta Platforms fell nearly 3% after surging over 13% the previous week due to AI-related announcements; however, broader tech and AI-linked stocks were under pressure amid market-wide declines in bond yields affecting gold and energy sectors. Energy companies like Occidental Petroleum and ConocoPhillips rose about 2%, while Exxon Mobil and Chevron gained around 1.5%. Rising oil prices above $96 per barrel supported the sector's performance. Conversely, airlines including United Airlines and American Airlines dropped over 2% as higher fuel costs weighed on investor sentiment. Nvidia bucked a broader decline in chipmakers by rising nearly 1.5%, buoyed by its announcement of new AI safety software and an expanded $150 billion stock buyback program.
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Topics: AI stocks energy sector gold mining oil prices stock market