Pre-Market Movers - Tuesday September 1 2026
$XOM $CVX $OXY $BP $PSX $XLE $PBR $NVDA $AMD $MU $SNDK $WDC $DRAM $AAOI $AXTI $COHR $CIEN $CRDO $LITE $FN $GLW $MRVL $MSTR $COIN $MARA $RIOT $IREN $NBIS $CLSK $HUT $GDX $GLD $NEM $AU $AAPL $MSFT $GOOGL $TSLA $META $AMZN $QQQ $SPY $VIX $DJI $MRNA
Read-Through:
Renewed hostilities between the US and Iran over the weekend are the story driving today's tape. Oil prices jumped and bond yields moved higher in the US and abroad, and on the first trading day of September, historically the market's weakest month seasonally, that's translating into a broad risk-off session layered on top of Friday's already mildly hawkish Warsh commentary. VIX is up sharply again this morning.
Oil is the one clean, unambiguous green sector, XOM, CVX, OXY, BP, PSX, XLE, and PBR are all higher on the renewed conflict. Almost everything else is red.
Mag 7 names are down across the board, memory, semis, and optical networking are all broadly lower, and blockchain and AI-infrastructure names are giving back yesterday's stabilization attempt entirely.
Cyclicals and industrials are also soft, with reports suggesting the Dow is bearing more of the brunt than the more AI-resilient Nasdaq.
One counterintuitive note worth flagging: gold and metals miners are red too, even with stocks selling off, because rising real yields are making non-yielding bullion less attractive, overriding the usual safe-haven bid you'd expect on a day like this.
Full catalyst breakdown in the attached images.
We're seeing relative strength in:
✅ Oil across the board - XOM, CVX, OXY, BP, PSX, XLE, PBR
Weakness in:
❌ Mag 7 broadly red - AAPL, MSFT, GOOGL, TSLA, META, AMZN
❌ Memory, semis, and optical networking all lower - MU, SNDK, WDC, DRAM, NVDA, AMD, AAOI, AXTI, COHR, CIEN, CRDO, LITE, FN, GLW, MRVL
❌ Blockchain and AI-infrastructure giving back yesterday's stabilization - MSTR, COIN, MARA, RIOT, IREN, NBIS, CLSK, HUT
❌ Gold and metals miners red despite the broader
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