Alibaba jumps premarket; Rivian, Bath & Body Works fall

Investing.com - U.S. stock futures sank on Wednesday after President Donald Trump cast doubt on the status of an interim peace agreement with Iran, saying the deal was "over" following renewed exchanges between the two countries.

By 06:57 ET, the Dow futures contract had fallen 1.04%, S&P 500 futures had dropped 0.9%, and Nasdaq 100 futures had slid 1.1%.

Risk sentiment deteriorated across markets as investors reacted to renewed geopolitical uncertainty, while individual stocks moved on analyst actions, capital raises and company-specific developments.

Here are some of the biggest premarket U.S. stock movers today:

Alibaba Group surged 10.4% after investors piled into the Chinese e-commerce giant ahead of its upcoming earnings report. Optimism was also fueled by reports that the company expects narrowing losses in its instant-commerce business while maintaining stable profitability.

Occidental Petroleum climbed 3.8% after Evercore ISI double upgraded the oil producer to Outperform from Underperform and raised its price target to $65. The brokerage cited a stronger balance sheet and improved capital efficiency that it believes will enhance the company’s free cash flow and shareholder returns.

Rivian Automotive fell 4.7%, extending losses after the electric vehicle maker priced a 75 million-share public offering at $15.50 per share to raise approximately $1.2 billion. The proceeds will help fund equity contributions tied to a U.S. Department of Energy loan agreement.

Bath & Body Works slipped 4.1% after Goldman Sachs downgraded the retailer to Sell, pointing to weakening consumer sentiment, softer brand engagement among younger shoppers and execution risks tied to its evolving distribution strategy.

Barrick Mining declined 1.8% as gold prices extended their retreat after President Trump’s remarks on Iran reduced demand for safe-haven assets. The precious metal has now fallen sharply from the record highs reached earlier this year, weighing on gold mining stocks.

You May Also Be Interested In

• T-Mobile shares slide on Q2 revenue miss; free cash flow outlook raised
• ServiceNow rallies after Q2 beat, lifts annual outlook on AI demand
• White House accuses Moonshot of violating US export controls using Nvidia hardware