Premarket Movers: Meta, United Airlines, and Nvidia Drive Early Market Action

Meta Platforms slipped 3% in premarket trading after gaining nearly 13% the previous week, driven by a series of announcements regarding its personal AI agent, Muse. The decline occurred Monday amid a broader sell-off in AI-related stocks. Newmont dropped over 4% as gold prices fell 3%. Higher global bond yields, including the 10-year U.S. Treasury note yield surpassing 5.2%, are diminishing demand for non-interest-bearing assets. Energy stocks rose as U.S. oil prices jumped more than 4%, surpassing $96 per barrel. Occidental Petroleum and ConocoPhillips each gained 2%, while Exxon Mobil and Chevron rose 1.5%. Airlines fell as higher oil prices raised concerns over jet fuel costs, with United Airlines and American Airlines dropping more than 2%, while Southwest Airlines and Delta Air Lines declined over 1.5%. Nvidia outperformed the broader chipmaker decline, rising 1.5% despite tech stocks starting the week lower and the iShares Semiconductor ETF (SOXX) dropping almost 2%. The company announced new AI safety software and a $150 billion increase to its stock buyback program, while other chipmakers like Marvell Technology and Advanced Micro Devices fell 2%.

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