Today’s Market Movers: Broadcom, Forte Biosciences, and Sandisk Lead Monday’s Biggest Moves

TLDR

• Stock futures rose Monday after a pause in U.S.-Iran strikes eased Middle East tensions and pushed oil prices down over 5%.
• Broadcom climbed 2.7% after signing a $200 billion memorandum of understanding with Samsung Electronics through 2030.
• Forte Biosciences surged 39% after Argenx agreed to acquire it for $77 per share in cash, valuing the deal at $2.2 billion.
• Energy stocks fell sharply, with ExxonMobil and Chevron each dropping around 3% on the crude price slide.
• Chip stocks including Sandisk, Marvell, and Nvidia all gained ahead of major tech earnings reports.

Stock futures edged higher on Monday morning as a pause in U.S.-Iran military strikes over the weekend reduced fears of a wider Middle East conflict.

The easing of tensions sent crude oil prices tumbling more than 5%, which helped ease broader inflation worries and lifted sentiment across markets.

Chip and memory stocks were among the biggest gainers ahead of earnings from several large tech companies this week. Investors are watching closely to gauge how long the AI spending cycle can continue.

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