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Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Monday, September 28

Noteworthy macro moves today: Gold -3.1%. US 10Y Treasury Bond Index -0.3%. US 2Y Treasury Bond Index -0.1%. Noteworthy US mega-cap moves today: Oracle Corp (ORCL) -3.3%. Intel Corp (INTC) -3.0%. Meta Platforms Inc (META) -2.9%.

Global equity markets are mixed today, with European indices generally higher while U.S. stocks are trading lower. The CAC 40, AEX, FTSE 100, DAX, and Euro Stoxx 50 have all seen gains amid rising oil prices and geopolitical tensions following U.S. President Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz. In contrast, U.S. indices such as the Dow Jones and S&P 500 are down as concerns about inflation persist alongside elevated bond yields.

In economic news, China's industrial profits rose by 15.7% year-on-year for the first eight months of 2026, a slowdown from the previous growth rate of 17.6%. This decline reflects broader concerns about economic momentum in China amidst ongoing global uncertainties and may influence market sentiment regarding future growth prospects in the region.

Additionally, market participants are closely monitoring upcoming U.S. economic data releases scheduled for this week, including the unemployment rate and non-farm payrolls on October 2nd. The unemployment rate is expected to remain stable at 4.1%, while non-farm payrolls are forecasted to add around 84k jobs in September amid strong economic indicators that have raised expectations for further Federal Reserve interest rate hikes.

The recent speech by ECB's Luis de Guindos has sparked shifts in market sentiment as investors assess potential changes in monetary policy against a backdrop of rising energy prices due to geopolitical tensions. This environment has contributed to fluctuations in currency markets as well, with notable movements observed in pairs such as USD/JPY and EUR/USD.

VanEck Gold Miners ETF (GDX) [-4.9%]
The VanEck Gold Miners ETF is declining in pre-market trading, driven by sharp declines in its holdings, including Newmont Corporation and Barrick Mining Corp, amid a broader drop in gold prices. This decline follows rising oil prices and elevated bond yields, which have heightened concerns about potential interest rate hikes by the U.S. Federal Reserve. Additionally, geopolitical tensions, particularly related to President Trump's rejection of Iran's proposal concerning the Strait of Hormuz, are contributing to market unease. Despite an analyst upgrade for Agnico Eagle Mines Ltd, the overall sector remains under pressure. GDX is trading lower as it continues to track the performance of gold, which has also seen a significant decline since Friday's close.

iShares Silver Trust (SLV) [-4.8%]
Silver prices are declining amid rising geopolitical tensions and inflationary pressures, following U.S. President Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz. This has led to a surge in oil prices and contributed to a sharp drop in gold prices due to increasing Treasury yields and a stronger dollar. The iShares Silver Trust is also lower, likely moving in sympathy with gold's decline. In pre-market hours, SLV is trading lower, remaining significantly below its 20-day moving average and near the lower end of its one-month trading range.

United States Oil Fund LP (USO) [+4.0%]
Oil prices are advancing as Saudi Arabia has resumed oil exports through its East-west Pipeline following repairs. This comes amid geopolitical tensions, particularly after President Trump rejected Iran's proposal to reopen the Strait of Hormuz, raising concerns over potential military actions that could disrupt global energy supplies. As a result, WTI crude futures are trading significantly higher, which is impacting the United States Oil Fund LP. In pre-market hours, USO is also trading higher, remaining above its 20-day moving average and near the upper end of its one-month range.

BP | +2.0% | +14.3B
BP PLC | Energy
TD Cowen analyst Jason Gabelman raised the price target for BP PLC to $47.00 from $41.00 while maintaining a rating, as reported today. The firm also increased the price target for BP to GBP5.65 from GBP5.04. In pre-market trading, BP is advancing notably since Friday's close, supported by rising oil prices amid heightened geopolitical tensions following U.S. President Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz, raising concerns about potential disruptions to global energy supplies. The integrated oil and gas sector is also moving significantly higher.

SHEL | +1.9% | +10.6B
Shell PLC | Energy
TD Cowen analyst Jason Gabelman raised the price target on Shell PLC to $115.00 from $107.00 while maintaining a rating. Additionally, Gabelman increased the price target for Shell's London-listed shares to GBP41.65 from GBP39.65. In a separate disclosure, Shell reported that several executives acquired shares under employee share plans on September 24, 2026, indicating ongoing confidence in the company's performance. As a result of these developments, Shell shares are trading significantly higher in pre-market hours.

HDB | -2.5% | -8.6B
HDFC Bank Ltd | Financials
HDFC Bank Ltd is facing multiple class action lawsuits alleging securities law violations, with claims that the bank concealed payments as marketing expenses to provide higher interest rates to state firms, a practice reportedly sanctioned by senior management. Law firms Levi & Korsinsky, Pomerantz LLP, and the DJS Law Group have initiated lawsuits against the bank for misleading statements regarding its financial practices and regulatory compliance. In pre-market trading, HDFC Bank shares are declining, continuing a downward trend since Friday's close, amid negative sentiment surrounding these legal challenges.

CVX | +1.4% | +5.8B
Chevron Corp | Energy
TD Cowen analyst Jason Gabelman raised the price target on Chevron Corp to $215.00 from $205.00 while maintaining a rating, reflecting positive sentiment regarding the company's market position and potential performance. Chevron's shares are advancing in pre-market hours, aligning with a broader rise in the Integrated Oil & Gas sector. This upward movement coincides with higher oil prices driven by geopolitical tensions following U.S. President Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz, raising concerns about potential disruptions to global energy supplies.

BA | -2.6% | -3.9B
Boeing Co | Industrials
Boeing Co. has reported a software glitch affecting the 737 Max, which may compromise an automated navigation feature during landings, raising safety concerns. This issue surfaced after a cockpit software update and can occur when flight crews modify their flight paths following a missed approach. The glitch had not been disclosed prior to today, contributing to negative sentiment surrounding the stock. In pre-market trading, shares are declining, reflecting a notable drop from earlier levels. The stock is positioned well below its 20-day moving average and near the lower end of its one-month trading range.

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