By Mackenzie Tatananni and Adam Clark
Stock futures were rising sharply Wednesday as Wall Street welcomed a two-week cease-fire agreement between the U.S. and Iran.
These stocks were poised to make moves:
Delta Air Lines surged 11%. The carrier reported better-than-expected earnings and revenue in the first quarter as demand remained strong even as surging fuel costs placed pressure on the carrier's bottom line. Peers Southwest Airlines, United Airlines, and American Airlines Group each rose more than 10% on positive developments in the Middle East.
Nvidia added 3.5%. Shares of the chip maker rallied along with other semiconductor stocks amid receding possibilities of a disruption to the chip supply chain due to conflict in the Middle East. Memory-chip makers Micron Technology and Sandisk gained more than 9% each.
Carnival jumped 11% as the cruise operator led a rally in travel stocks, which have been burdened by rising fuel costs. Norwegian Cruise Line was up 10%, while Royal Caribbean Group advanced 8.1%.
Conversely, shares of oil exploration companies were slumping in premarket trading. Exxon Mobil declined 5.9%, Occidental Petroleum fell 7.9%, APA slid 9.6%, Diamondback Energy lost 8.4%, and Devon Energy tumbled 6.2%.
Super Micro Computer climbed 5.7%. The server maker has outlined its plan to investigate the chip smuggling scandal that has engulfed the company. The U.S. government charged Super Micro co-founder Yih-Shyan "Wally" Liaw and two other individuals last month, accusing them of masterminding a plan to divert U.S.-assembled servers to China in violation of export-control laws.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and Adam Clark at adam.clark@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 08, 2026 07:44 ET (11:44 GMT)
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