Stocks move premarket as chip shares fall and energy rises
U.S. stock futures move as chip shares slip and energy stocks gain on oil Watch premarket leaders and laggards driving Monday's market action
U.S. stock futures activity showed notable premarket moves on Monday, with chip shares under pressure and energy stocks gaining. Intel, Marvell Technology and AMD fell after comments from AI industry leaders raised questions about the pace of artificial intelligence development.
Energy stocks advanced as oil prices rose at the start of the week amid renewed tensions in the Middle East. The Energy Select Sector SPDR ETF moved higher, while companies including Diamondback Energy, APA, Marathon Petroleum and EOG Resources posted gains.
Cybersecurity names also traded higher, with investors reacting to concerns about AI safety. Palo Alto Networks and CrowdStrike were among the stronger performers. Hewlett Packard Enterprise and Super Micro Computer slipped on worries tied to AI infrastructure spending, while Affirm rose after an analyst upgrade.