Apple, Tesla and Trump Media rise premarket;Exxon Mobil falls

Investing.com — US stock futures edged higher Monday, at the start of a busy week that includes more key earnings as well as the widely-watched monthly jobs report.

Here are some of the biggest premarket US stock movers today:

Apple (NASDAQ:AAPL) stock rose 0.4%, ahead of its earnings later this week, with the tech giant on track to be the first company to hit $4 trillion in market capitalization, according to analysts at Wedbush.

Tesla (NASDAQ:TSLA) stock rose 0.8%, adding to Friday’s gains, after CEO Elon Musk announced plans to grow vehicle sales by 30% next year, buoyed by a new, cheaper model and enthusiasm for self-driving software.

Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) both dropped over 2% on the back of oil prices slumping around 6% given the reduced geopolitical tensions in the Middle East.

Trump Media & Technology (NASDAQ:DJT) stock rose 6.9%, continuing the sharp rally of recent weeks, driven by investor bets on a potential Trump victory in the 2024 U.S. presidential election.

GlobalFoundries (NASDAQ:GFS) stock fell 1% after Morgan Stanley downgraded its stance on the semiconductor manufacturing company to ‘equal weight’ from ‘overweight’, citing anticipated wafer pricing pressures from competitors like TSMC and Chinese foundries.

Philips (NYSE:PHG) ADRs slumped 17% after the Dutch conglomerate posted a third-quarter revenue miss and a revised outlook, primarily due to weaker demand in China.

CrowdStrike (NASDAQ:CRWD) stock rose 0.1% despite Delta Air Lines (NYSE:DAL) announcing plans to sue the security software company for $500 million in damages caused by massive airline cancellations.

Robinhood (NASDAQ:HOOD) stock rose 2.6% after the trading platform announced the launch of U.S. presidential election event contracts, enabling customers to trade based on their prediction for the tightly contested race.