Travel, Tech Rise as Oil Majors Slip Premarket Trade

Written by Sandra Leggero

Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.

, | Updated: March 25, 2026

Key Moments

U.S. equity futures traded higher, with Dow, S&P 500, and Nasdaq 100 contracts all gaining around 1.0%.
Chevron and Exxon Mobil moved lower in early trading as oil prices weakened amid reports of possible U.S.-Iran peace talks.
Travel, cruise, mining, and select tech and software stocks rose on company-specific news and shifting geopolitical sentiment.

Index Futures Point to Broadly Higher Open

Futures tied to the major U.S. stock benchmarks were in positive territory on Wednesday as market participants weighed the potential for a resolution to the nearly month-long conflict between the U.S. and Iran.

By 07:11 ET (11:11 GMT), the Dow futures contract was up 439 points, or 1.0%. S&P 500 futures gained 58 points, or 0.9%, while Nasdaq 100 futures advanced 250 points, or 1.0%.

Premarket Movers Overview

Several high-profile U.S. stocks showed notable moves in premarket trading, reflecting shifts in commodity prices, geopolitical expectations, and company-specific developments.

Company / Sector	Move / Direction	Key Driver
Chevron, Exxon Mobil	Both fell by more than 1%	Broader oil price decline amid reports of possible U.S.-Iran peace talks
United Airlines, Delta Air Lines, other travel stocks	Rallied	Hopes for an end to the Iran war
Gold and silver miners	Gained	Rebound after recent pressure from lower precious metals prices during the conflict
Carnival Corp.	Advanced	Analysts have highlighted potential exposure to Iran-related fuel cost volatility
Chewy	Jumped	Fourth-quarter adjusted earnings beat analyst expectations
Merck, Terns Pharma	Merck in focus	Merck agreed to acquire Terns Pharma in a $6.7 billion deal to strengthen its cancer pipeline
EchoStar, Rocket Lab, AST SpaceMobile	Climbed	Report that SpaceX may file a prospectus for an IPO as soon as this week
Arm Holdings	Rose	Plan to sell its own processors, with the business expected to generate about $15 billion annually within five years
Braze	Surged	Stronger-than-anticipated first-quarter revenue outlook

Energy Stocks Weaken as Oil Prices Slip

Shares of major energy producers were under pressure in premarket trade. Chevron and Exxon Mobil both declined by more than 1%, moving in tandem with a broader drop in oil prices. The move followed media reports suggesting that mediators could facilitate peace talks between the U.S. and Iran this week, a development that could ease concerns over supply disruptions.

Travel, Cruise, and Mining Names Rebound

Airline stocks, including United Airlines and Delta Air Lines, traded higher, along with other travel-related names, as investors reacted to growing optimism that the conflict between the U.S. and Iran could be nearing an end.

Gold and silver miners, which had recently come under pressure during the war-driven pullback in precious metals, also posted gains in early action. Cruise operator Carnival Corp. moved higher as well; analysts have previously indicated that the company could be sensitive to any Iran-linked spike in fuel costs.

Company-Specific Highlights

Chewy Jumps on Earnings Beat

Chewy shares advanced sharply in premarket trading after the online pet supplies company reported fourth-quarter adjusted earnings that significantly outpaced analyst forecasts.

Merck Targets Oncology Growth With Terns Deal

Drugmaker Merck announced that it had reached an agreement to acquire Terns Pharma in a transaction valued at $6.7 billion, a move aimed at enhancing its portfolio of cancer treatments.

Space-Related Stocks Lifted by SpaceX IPO Report

EchoStar, Rocket Lab, and AST SpaceMobile all traded higher before the opening bell after The Information reported that Elon Musk’s SpaceX is preparing to file a prospectus for its long-anticipated initial public offering as early as this week.

Arm Holdings Rallies on Processor Plan

Arm Holdings saw its shares climb after the chip design firm said it will begin selling its own processors. The company added that this new business line is projected to generate approximately $15 billion in annual revenue within five years.