Several U.S. stocks saw major moves in premarket trading on Monday, July 28, after a major trade deal between the U.S. and the European Union.
Energy Stocks Rise on $750 Billion EU Deal
The European Union agreed to buy $750 billion worth of U.S. energy. As a result, shares of many energy companies jumped:
- Venture Global rose 6%
- New Fortress Energy gained 5%
- Cheniere Energy and NextDecade went up nearly 4%
- Eaton and Constellation Energy added around 2%
- EQT climbed more than 1%
Nike Upgraded by JPMorgan
Nike shares gained 4% after JPMorgan upgraded the stock from neutral to overweight. The bank said the company is likely to recover over the next few years.
Defense Stocks Climb on EU Military Spending
Defense-related companies also rose after President Donald Trump said the EU will buy “hundreds of billions of dollars” worth of U.S. military equipment:
- Kratos Defense rose 2.3%
- Lockheed Martin added 1%
- RTX increased about 1%
Semiconductor Stocks Up
Following the trade deal, U.S.-listed shares of European chip companies also gained:
- ASML rose 3.7%
- STMicroelectronics climbed 1.4%
Stellantis Falls on EU Tariff Impact
Stellantis, the carmaker behind Jeep and Chrysler, dropped 3%. A new 15% blanket tariff on EU goods, including cars, is expected to hurt the industry, according to the European Automobile Manufacturers Association.
Other Movers:
- PagerDuty jumped 6% after reports that it is exploring a sale.
- Cisco Systems dropped 1.3% after a downgrade by Evercore.
- Revvity fell nearly 6% after cutting its 2025 earnings forecast, despite beating quarterly estimates.
- Tesla rose 1.6% after CEO Elon Musk confirmed a $16.5 billion chip deal with Samsung.
- Texas Instruments gained 1.3% after Wolfe Research upgraded the stock, expecting a market recovery.
These movements come as investors react to shifting global trade policies and earnings updates.
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