Key Highlights
- An interim U.S.-Iran peace agreement sparked a 2% rally in Nasdaq 100 futures as capital flowed into technology
- SpaceX shares climbed 5.6% in early trading following Friday’s impressive 19% debut performance
- Memory chipmakers Micron Technology and Sandisk posted significant gains on renewed AI enthusiasm
- Energy giants Chevron and Exxon Mobil declined as crude oil prices tumbled on peace deal news
- Major airline carriers rallied on expectations of reduced jet fuel expenses from normalized Strait of Hormuz traffic
Monday morning brought significant market movements as investors reacted to a weekend breakthrough: a provisional peace agreement between the United States and Iran. The announcement triggered an immediate sector rotation from energy into technology.
The Nasdaq 100 futures contract surged 2% as market participants piled back into 2026’s top-performing growth names.
Technology Sector Powers Morning Gains
SpaceX shares advanced 5.6% during premarket hours. Following Friday’s remarkable 19% surge in its public market debut, Monday’s continued strength suggests strong momentum characteristics emerging.
Space Exploration Technologies Corp., SPCX
Micron Technology shares jumped 7.4% before regular trading commenced. Sandisk posted a 5.2% advance. Both semiconductor companies play critical roles in AI computing infrastructure through their memory chip and storage solutions.
Traditional storage manufacturers also participated in the rally. Seagate Technology advanced 7.25% while Western Digital climbed 5.3%. These legacy hardware providers continue benefiting from expanding data center requirements.
Tower Semiconductor surged 4.7% to reach $275.20 in premarket activity. The chipmaker revealed a comprehensive multi-year supply agreement with IQE covering Indium Phosphide epiwafers used in AI-powered data center optical interconnect applications. Both parties simultaneously settled all outstanding intellectual property claims.
Energy Retreats as Transportation Advances
The diplomatic breakthrough delivered a sharp blow to petroleum sector equities. Chevron shares declined 2.5% while Exxon Mobil dropped 2.6%. Brent crude and West Texas Intermediate futures contracts were tracking toward their weakest closing levels in more than three months, per Dow Jones Market Data.
Carrier stocks moved sharply higher. American Airlines gained 3.7%, Delta Air Lines advanced 3.8%, and United Airlines soared 4.6%. Market expectations centered on declining jet fuel prices following the anticipated resumption of normal shipping operations through the Strait of Hormuz.
Paramount Skydance climbed 4.2%. The entertainment company received Justice Department clearance Friday for its massive $81 billion acquisition of Warner Bros. Discovery.
Among less prominent names, VS Media Holdings rocketed 95.3% in premarket sessions. FreeCast surged 70.3% following an expanded DirectTV streaming distribution agreement. Cosmos Health rallied 42.3% after securing fresh contract manufacturing orders totaling more than 253,000 medicine units.
Decliners included Reitar Logtech, which plunged 23.8%. Traws Pharma tumbled 18.2% after United Kingdom regulatory authorities issued an unfavorable assessment of its flu treatment trial. Perfect Moment slid 18.3% following disclosure that its shares would transfer to the OTCQB exchange.
The dominant narrative emerging Monday morning was unmistakable. Middle East diplomatic progress prompted significant capital reallocation away from petroleum and into technology, particularly businesses connected to artificial intelligence and digital infrastructure development.
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