By Mackenzie Tatananni, George Glover, and Joe Woelfel

Stock futures were rising Monday as President Donald Trump called on other countries to join the U.S. in ensuring safe passage through the Strait of Hormuz.

These stocks were making moves in premarket trading:

Micron Technology was the S&P 500's best performer ahead of the opening bell, rising 4.7%. The memory-chip maker said it plans to build a second manufacturing facility at its site in Taiwan by the end of 2026. Peer stocks got a boost from the announcement: Flash-memory product supplier Sandisk added 3.3%, while disk-drive makers Seagate Technology and Western Digital were up 2.8% and 3.5%, respectively.

Nebius Group surged 14%. The Nvidia-backed cloud computing company struck a deal with Meta Platforms that could be worth up to $27 billion. Under the terms of the agreement, Nebius will provide $12 billion of dedicated capacity for Meta starting next year.

Meta, meanwhile, added 2.7%. The Facebook parent is planning layoffs that could affect 20% of its 80,000 employees, Reuters reported on Saturday. When approached for comment, a Meta spokesperson dismissed the report as "speculative reporting about theoretical approaches."

Dollar Tree declined 1.4% after the discount retailer reported fiscal fourth-quarter adjusted earnings that narrowly topped consensus views but provided a weak outlook for the current fiscal quarter.

Gold miner Newmont dropped 1.2% as the price of bullion continued to fall. Gold tends to serve as a haven in times of geopolitical uncertainty but it has struggled since the war in Iran started on fears that surging oil prices could trigger a flare-up in inflation that would strengthen the case for higher interest rates.

Cryptocurrency-linked stocks rose alongside the price of Bitcoin, which has gained 2.9% over the past 24 hours to $73,600, according to CoinDesk. Strategy, the world's largest corporate holder of the crypto, advanced 4.1%. Coinbase Global and Robinhood Markets rose 3.3% and 2.3% respectively.

Nvidia rose 1.1% ahead of the chip maker's annual GPU Technology Conference. Investors are waiting for commentary on the supply outlook for critical components such as wafers, memory, and optics, as well as for more details on future products.

Tesla gained 1%. CEO Elon Musk said on Saturday that the electric-vehicle manufacturer's Terafab project, a large semiconductor manufacturing facility, would launch in seven days.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and George Glover at george.glover@dowjones.com

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March 16, 2026 07:38 ET (11:38 GMT)

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