The stock market is kicking off the week on a strong note following a losing week. That wasn't the case for every name, however.
Nvidia fell in early trading after CEO Jensen Huang admitted to having a relationship with an alleged Chinese spy. But despite Nvidia's declines, other semiconductor names held up well in early trading.
Follow below as CNBC breaks down the biggest stock market moves of the day:
11 Min AgoHere’s why energy stocks are falling
Oil prices surged about 20% on Monday as the U.S.-Israeli war with Iran continued, raising fears of prolonged disruptions to energy supplies.Anton Petrus | Moment | Getty ImagesEnergy stocks are falling as oil prices retreat from recent highs.
Oil prices fell Monday after President Donald Trump said Sunday that renewed strikes on Iran were "highly unlikely" if negotiations made progress.
Improving prospects for Middle East diplomacy could reduce fears of supply disruptions, reducing some of the geopolitical risks priced into crude. U.S. West Texas Intermediate futures dropped 3% to around $87 per barrel. International benchmark Brent slid 4% to about $94 per barrel.
Oil futures price trendEnergy stocks have faced broader selling pressure as oil prices retreat. Stocks of Exxon Mobil,Chevron, ConocoPhillips, Occidental Petroleum and EOG Resources fell in intraday trading. Sustained declines in crude prices could potentially reduce future revenue and cash-flow expectations for energy companies.
Investors are also watching Constellation Energy, NRG Energy and Occidental Petroleum on Monday, followed by financial results from Venture Global, Petrobras and Ecopetrol on Tuesday. Outlooks from these companies could provide fresh clues around oil and gas prices, supply and overall shareholder returns.
— Deena Zaidi
33 Min AgoCruise liners and airline stocks are moving higher as oil prices fall
Cruise liners and airline stocks are seeing gains on Monday after oil prices move lower.
Shares of Carnival are up 4%, while Royal Caribbean and Norwegian are both up more than 3%. Meanwhile, American Airlines and United Airlines are both moving more than 6% higher while Delta is up 4.6%.
West Texas Intermediate (WTI) crude is down 3.7% to about $87 per barrel. WTI dropped nearly 13% last week on diplomatic headlines, according to FactSet.
— Paulina Likos
2 Hours AgoMolson Coors moves lower on JPMorgan downgrade
Coors Light beer in 36-packs of cans are stacked at Costco Wholesale store on March 7, 2025 in San Diego, California. Kevin Carter | Getty ImagesShares of Molson Coors Beverage slipped 1% following a downgrade at JPMorgan to underweight from neutral.
The Coors and Miller parent, which cut its full-year guidance on Thursday, faces challenging fundamentals, including weakness in the beer category and inflationary cost pressures, said analyst Drew Levine.
— Michelle Fox
2 Hours AgoJPMorgan upgrades SAP to overweight from neutral
Shares for SAP gained nearly 3% after JPMorgan upgraded the Germany-based application software company to overweight from neutral on Monday.
"We upgrade SAP to Overweight (from Neutral) as AI moves from pilot to production, a shift we think favors systems of record such as SAP, " wrote Toby Ogg, a analyst at JP Morgan.
The firm added SAP's AI offering is improving and raised its price target to £275 from £175.
— Ananya Chetia
2 Hours AgoAmazon and Meta rise after JPMorgan makes them top AI picks
Thomas Fuller | Lightrocket | Getty ImagesDoug Anmuth at JPMorgan likes what he's seeing at Amazon and Meta on the AI front, naming the companies in a Monday client note as picks for the bank's analyst focus list. JPMorgan predicts "continued strong revenue growth for Meta on AI-driven ad improvements." The bank sees big revenues over the longer for Amazon, driven by cloud segment growth. "AMZN now expects AWS revenue growth of 40%+ in 2027 & 2028, & for AWS to reach revenue of $1T in the next 5-10 years, w/improving capex payback," Anmuth wrote. Amazon shares are up 3% in the premarket on Monday and Meta is up 2.5%.
– Tobias Burns
3 Hours AgoEli Lilly rises after positive recommendation on key Alzheimer's drug
Eli Lilly shares increased nearly 2% after Canada's Drug Agency welcomed a positive recommendation to reimburse Lilly's treatment for early Alzheimer's called Kisunla for eligible adults on Friday.
LLY 5-day chart— Paulina Likos
3 Hours AgoBerkshire Hathaway ticks higher as it ramps up buybacks
Greg Abel, CEO of Berkshire Hathaway, speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, NE on May 2, 2026.CNBCBerkshire Hathaway ticked 0.4% lower after reporting third quarter earnings Saturday. Some of the key takeaways from the quarter includedoperating earnings falling 6% year over year, reflecting declines in insurance business and lower gains on common stock investments. Berkshire Hathaway also stepped up share repurchases in Q3.
— Paulina Likos
3 Hours AgoDraftKings slips after UBS downgrade
The sport betting stock fell 1.7% after UBS downgraded DraftKings to neutral from buy while cutting its price target to $22 from $48.
Analyst Robin Farley cited "uncertain regulatory outlook" in prediction markets making it difficult to value DraftKing's core business alone. Making matters more murky, UBS noted is the company recently lowering its core 2026 revenue guidance while guiding for roughly $1 billion of prediction market losses through 2027.
DKNG 5-day chart— Paulina Likos
3 Hours AgoAMD jumps after Oppenhemer upgrade
Shares advanced 3.2% after Oppenheimer upgraded the chipmaker to outperform from market perform while assigning a price target of $600 per share. That suggest 34% upside to Friday's close.
Analyst Rick Schafer became bullish in the company after it reported a strong third quarter last week. The firm raised its estimates for future revenue and earnings per share.
AMD 5-day chart— Paulina Likos
3 Hours AgoNvidia slides amid CEO Huang scandal
The artificial intelligence chip leader dropped nearly 5% after the company opened an investigation of CEO Jensen Huang's relationship with a businesswoman, Alice Huang, who intelligence agencies allege is a Chinese spy.
Alice Huang is affiliated with a cloud company and an Nvidia customer called Megaspeed. U.S. intelligence agencies have expressed concerns that she has been passing information to Beijing, according to reports in The New York Times and the Financial Times.
NVDA 5-day chart— Paulina Likos