TLDR
- A U.S.-Iran interim peace deal drove investors into AI stocks, pushing Nasdaq 100 futures up 2%
- SpaceX jumped 5.6% in premarket after a 19% gain on its trading debut Friday
- Micron Technology and Sandisk both rose sharply on AI-linked buying
- Oil prices slumped on the peace deal news, dragging Chevron and Exxon Mobil lower
- Airline stocks gained as lower fuel costs were expected from reopened Strait of Hormuz shipping
The U.S. and Iran reached an interim peace deal over the weekend, and markets responded quickly on Monday morning. Investors moved into artificial intelligence stocks and pulled back from oil.
Nasdaq 100 futures rose 2% as traders returned to some of the biggest winners of 2026.
AI Stocks Lead the Premarket Rally
SpaceX added 5.6% before the opening bell. The stock had already jumped 19% on its trading debut Friday, and Monday’s move points to early momentum-stock behavior.
Space Exploration Technologies Corp., SPCX
Micron Technology climbed 7.4% in premarket trading. Sandisk rose 5.2%. Both companies are tied to AI infrastructure through memory and flash storage products.
Hard disk-drive makers also gained. Seagate Technology rose 7.25% and Western Digital was up 5.3%. These companies benefit when data center demand grows.
Tower Semiconductor jumped 4.7% to $275.20 in premarket. The company announced a multi-year deal with IQE to supply Indium Phosphide epiwafers for AI-driven data center optical connectivity. The two companies also resolved all prior intellectual property disputes.
Oil Stocks Fall, Airlines Rise
The peace deal hit energy stocks hard. Chevron dropped 2.5% and Exxon Mobil fell 2.6%. Both Brent crude and West Texas Intermediate futures were on track for their lowest settlements in over three months, according to Dow Jones Market Data.
Airlines moved in the opposite direction. American Airlines gained 3.7%, Delta Air Lines rose 3.8%, and United Airlines jumped 4.6%. Investors expect the reopening of the Strait of Hormuz to bring fuel costs down.
Paramount Skydance rose 4.2%. The Justice Department approved Paramount’s $81 billion takeover of Warner Bros. Discovery on Friday.
Among smaller movers, VS Media Holdings surged 95.3% in premarket. FreeCast rose 70.3% after expanding its DirectTV streaming partnership. Cosmos Health gained 42.3% after receiving new contract manufacturing orders for over 253,000 units of medicines.
On the losing side, Reitar Logtech fell 23.8%. Traws Pharma dropped 18.2% after UK regulators gave a negative review of its influenza study. Perfect Moment fell 18.3% after announcing its stock would move to the OTCQB market.
The broad theme of the morning was clear. Peace in the Middle East shifted money away from oil and toward technology, especially companies linked to artificial intelligence and data infrastructure.
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