US stock futures saw a decline as investors brace for a busy earnings week, seeking signs that the market’s longest streak of weekly gains this year can continue. Meanwhile, oil prices surged and gold hit a record high, driven by escalating tensions in the Middle East. Here’s a look at key movers in pre-market trading:

Boeing Soars on New Union Deal

Boeing’s stock rose by 3.3% after the aerospace giant reached a tentative agreement with its machinists’ union, potentially ending a month-long strike. The new contract proposal, which includes a 35% wage increase, will be voted on Wednesday. Investors are optimistic that resolving labor disputes will help Boeing regain momentum.

Humana and Cigna Diverge on Merger Speculation

Health insurance giants Humana and Cigna saw contrasting movements after reports surfaced that Cigna has resumed merger talks with Humana. According to sources cited by Bloomberg, the discussions are still in the early stages. As a result, Humana’s stock gained more than 4%, while Cigna’s shares dropped by a similar percentage.

UPS Slips After Barclays Downgrade

UPS shares fell nearly 2% following a downgrade by Barclays, which moved the stock from “equal weight” to “underweight.” Barclays cited potential risks to the company’s earnings and growing competition from Amazon. The downgrade reflects concerns over UPS’s ability to navigate challenges in the logistics sector.

JD.com Faces Pressure Despite Analyst Upgrade

Shares of Chinese e-commerce company JD.com, listed in the US, dropped over 1%, mirroring the decline in Hong Kong’s Hang Seng index. This decline came despite an upgrade from Loop Capital Markets, which raised its rating on the stock to “buy” from “hold.” However, broader market concerns weighed on JD.com’s performance.

Southwest Airlines Dips on Elliott Investment Talks

Southwest Airlines shares fell more than 1% in pre-market trading, following reports that Elliott Investment Management is in early discussions with the airline to secure board representation. While these talks are preliminary, the potential for activist involvement has put pressure on Southwest’s stock ahead of the market open.

ASML Drops on Price Target Cut

Dutch semiconductor equipment maker ASML saw its shares decline by more than 1% after Bernstein lowered its price target. The investment bank cited a “challenging” outlook for 2025, raising concerns over the company’s ability to maintain its growth trajectory in the face of industry headwinds.

As the market gears up for a wave of earnings reports, investors will be closely watching how companies navigate ongoing challenges, from rising labor costs to international competition. In the backdrop, geopolitical concerns and macroeconomic factors such as rising oil and gold prices continue to shape market sentiment.