Tesla Launches Robo-Taxi, Oil Prices Climb, and Dow Drops—Market Movers This Week
U.S. stock futures slipped Monday, while oil prices rose, reacting to the weekend U.S. military strikes on Iranian nuclear facilities. The airstrike triggered movements in defense, energy, and tech stocks, with investors closely watching developments in the Middle East and key earnings reports due this week.
Defense Stocks Climb After Airstrikes in Iran
Defense contractors saw gains in premarket trading following reports that Northrop Grumman’s B-2 bombers played a key role in the U.S. airstrike. The bombers deployed 14 GBU-57 bunker-busting bombs, marking the first combat use of the 30,000-pound weapon, originally built by Boeing.
- Northrop Grumman rose 0.6%.
- Boeing slipped 0.4%.
- Lockheed Martin rose 0.5%, as its fighter jets were also involved.
- RTX (formerly Raytheon Technologies) gained 1.1% after its Tomahawk cruise missiles were reportedly launched from a U.S. submarine.
Oil Prices Surge as Iran Threatens Strait of Hormuz Closure
Shares of oil companies surged after Iran’s parliament voted to close the Strait of Hormuz, one of the world’s most critical oil routes. While the final decision is pending approval by Iran’s Supreme National Security Council, markets are already reacting.
- ExxonMobil jumped 1.7%
- Chevron climbed 1.4%
- ConocoPhillips rose 1.6%
- Marathon Petroleum advanced 1.4%
The Strait of Hormuz handles nearly 20% of global oil shipments, making any disruption a serious concern for global markets.
Tesla Launches Robo-Taxi Service in Austin
Tesla rolled out its first robo-taxi service in a limited area of Austin, Texas, on Sunday. Early users, who were pre-selected by Tesla, are being charged a flat $4.20 per ride, according to CEO Elon Musk.
- The pilot includes a small fleet of Tesla vehicles
- Safety monitors are placed in the front seats during rides
- Tesla stock edged up 0.6% in premarket trading
Northern Trust Rises on BNY Mellon Merger Talks
Shares of Northern Trust jumped 4.7% after a Wall Street Journal report revealed that BNY Mellon approached the firm for a potential merger. The two banks reportedly held at least one discussion, although no formal offer was made yet. BNY Mellon shares also ticked up modestly.
Fiserv Soars After Stablecoin Platform Launch
Fiserv, a major financial tech firm, rose 3.8% after announcing a new digital asset platform, including the launch of a stablecoin to be integrated into its banking and payments infrastructure by late 2025.
Dow Inc. Drops After Analyst Downgrade
Dow Inc. fell 2% to $27.22 after BMO Capital downgraded the chemical maker from “Market Perform” to “Underperform”, slashing its price target from $29 to $22.
Big Earnings Ahead: Key Companies to Report This Week
Investors are awaiting important earnings updates this week from:
- FedEx
- Micron Technology
- Nike
- Carnival
- General Mills
- McCormick
- Paychex
- Walgreens Boots Alliance
- TD Synnex
- AeroVironment
- BlackBerry
- Jefferies Financial
- Levi Strauss
✅ Key Highlights:
- U.S. airstrikes on Iran push defense and oil stocks higher
- Tesla launches robo-taxi pilot in Austin with limited users
- BNY Mellon and Northern Trust in early merger talks
- Fiserv unveils stablecoin, boosting digital finance adoption
- Analysts downgrade Dow Inc., citing weak performance outlook
