Premarket movers: Meta, United Airlines, Nvidia lead as oil tops $96
U.S. stocks moved in divergent directions premarket on Monday, with AI-related shares like Meta Platforms falling while energy companies rose on surging oil prices above $96 per barrel. Meta Platforms slipped 3% after last week's 13% gain, as the broader AI trade sold off. Newmont dropped over 4% amid a 3% decline in gold prices, pressured by the 10-year Treasury yield crossing 5.2%. Airlines including United and American fell over 2% on higher jet fuel costs, while Occidental Petroleum and ConocoPhillips gained 2%. Nvidia bucked the chipmaker downturn, rising 1.5% after announcing new AI safety software and a $150 billion stock buyback increase. The iShares Semiconductor ETF fell nearly 2%, with Marvell Technology and Advanced Micro Devices down 2% each.