Morning Movers: Coca-Cola and Centene higher after earnings

Stock futures are under pressure this morning as investors digest rising geopolitical tension and a surge in oil prices. Crude has pushed above $100 per barrel following stalled Iran-related negotiations and continued disruption in the Strait of Hormuz, reintroducing inflation concerns just as markets had been leaning toward a more stable rate outlook.

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Despite the weaker open, the broader market backdrop remains surprisingly resilient. Major indexes are coming off record highs, driven largely by continued strength in AI-linked mega-cap technology names. Tech and semiconductor stocks are still anchoring gains, while consumer-facing sectors show signs of fatigue under the weight of higher energy costs and softer demand.

The Federal Reserve begins its policy meeting today, with expectations for rates to remain unchanged but with heightened sensitivity to forward guidance given the renewed inflation risk from energy. At the same time, one of the busiest stretches of earnings season is underway.

Globally, the tone is cautious. Asian markets declined and European equities are mixed, reflecting the same push and pull between strong earnings momentum and rising macro risks.

In pre-market trading, S&P 500 futures fell 0.71%, Nasdaq futures fell 1.3% and Dow futures rose 0.07%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Dynatrace (DT) up 5% after Starboard Value released a letter discussing its “substantial investment”

UP AFTER EARNINGS –

• Coca-Cola (KO) up 3%
• Centene (CNC) up 2%
• BP (BP) up 2%
• Kimberly Clark (KMB) up 1%

DOWN AFTER EARNINGS –

• Corning (GLW) down 11%
• Spotify (SPOT) down 7%
• UPS (UPS) down 4%
• General Motors (GM) down 1%
• Zimmer Biomet (ZBH) down 1%

LOWER –

• CoreWeave (CRWV) and Oracle (ORCL) down 7% and 6%, respectively, after The Wall Street Journal reported OpenAI missed internal targets for weekly users and revenue, raising concerns about funding massive new data center spending