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(Bloomberg) — S&P 500 Index futures fall 0.5% as of 7:50 a.m. in New York after the US maintained a blockade of the Strait of Hormuz and seized an Iranian ship.
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- Nasdaq 100 futures decline 0.4%
- Dow Jones Industrial Average futures fall 0.6%
- The MSCI World Index is down 0.2%
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Here are some of the biggest US movers before the bell:
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- Magnificent Seven stocks:
- Apple (AAPL) is unchanged, Tesla (TSLA) -0.7%, Alphabet (GOOGL) -1%, Amazon (AMZN) -1%, Meta Platforms (META) -0.9%, Microsoft (MSFT) -0.8%, Nvidia (NVDA) -0.9%
- Airlines and cruise operators are down as the prospects of fuel prices staying at elevated levels weigh on sentiment. American Airlines (AAL) -3%, Carnival (CCL) -2%.
- Energy stocks are rising as US-Iran tensions flare up over the weekend. Chevron (CVX) +1%.
- Psychedelic-related stocks rally after President Donald Trump signed an executive order to expedite research and access to the substances used outside the US to treat post-traumatic stress disorder. AtaiBeckley (ATAI) +27%.
- AST SpaceMobile (ASTS) drops 14% after Blue Origin’s flagship New Glenn rocket failed to correctly place a satellite made by the Texas-based company in its intended orbit.
- Avis Budget (CAR) drops 2% as Barclays downgrades to underweight following the stock’s near-vertical recent rally.
- Fermi Inc. (FRMI) falls 19% after the power company said its chief executive officer and chief financial officers have stepped down as the firm tries to secure its first customer.
- Marvell Technology (MRVL) rises 5% after the Information reported that Google is in discussions with the semiconductor company to develop two new chips to run AI models more efficiently.
- TopBuild Corp. (BLD) rises 18% after QXO Inc. said it’s acquiring the insulation company for about $17 billion. The acquisition will make QXO the second-largest publicly traded building products distributor in North America.
- USA Rare Earth (USAR) gains 4% after agreeing to acquire Brazil’s Serra Verde Group in a cash-and-stock transaction, adding to a string of recent deals in the industry.
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