Meta, Sable Offshore rise in pre-market trading; CF Industries declines

Investing.com - U.S. stock index futures rose on Monday as investors assess the ongoing impact of the U.S. and Israel’s continued offensive against Iran, now in its third week.

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As of 07:07 AM Eastern Time (19:07 Beijing Time), Dow futures increased by 225 points, up 0.5%, S&P 500 futures rose by 46 points, up 0.7%, and Nasdaq 100 futures jumped by 198 points, up 0.8%.

Here are some of the biggest pre-market movers in the U.S. stock market today:

• According to Reuters over the weekend, sources familiar with the matter said Meta is considering large-scale layoffs that could affect more than 20% of its employees, as the company ramps up spending on artificial intelligence infrastructure. The parent company of Facebook saw its stock rise before the U.S. trading session opened.

• Sable Offshore’s stock surged over 6.4% after Energy Secretary Chris Wray instructed the company to reopen operations at California’s Santa Ynez Unit and Santa Ynez Pipeline System.

• Oil giants Chevron and ExxonMobil edged higher amid volatile crude oil markets.

• Nvidia’s stock saw a slight increase as investors await CEO Jensen Huang’s highly anticipated speech at the company’s annual AI semiconductor developer conference.

• CF Industries’ stock declined after Scotiabank analysts said that the fertilizer stock’s rally since the Iran conflict erupted appears “overextended” in valuation.

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