Markets are down more than -0.4% ahead of the open, extending yesterday's brutal -1.7% session as investors grow increasingly skeptical of optimistic peace headlines despite President Trump extending his pause on strikes against Iran's energy infrastructure until April 6. Oil surged more than +2%, with Brent topping $104 and WTI nearing $97, as continued attacks and the halt to the Strait of Hormuz traffic stoke fears the conflict stretches well into spring. The Nasdaq entered correction territory for the first time in a year, down more than -10% from its Oct. 29 record high.
Meta Ramps AI Spending with $10B Texas Data Center Expansion
Meta Platforms (META) is down over -1% in premarket trading after boosting its planned investment in its Texas data center to $10B from $1.5B, with the 1-gigawatt facility expected online by 2028. The move underscores META's aggressive AI infrastructure push as it reins in metaverse spending and intensifies competition with Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOGL).
Netflix Raises Prices Again to Fund Content and Ads Push
Netflix (NFLX) is up over +1% in premarket trading after raising subscription prices by $1-$2 per month across all tiers, following strong 2025 momentum of +23M subscriber additions and $45.2B in revenue. The increases are aimed at funding a rising $20B content budget and a planned doubling of ad revenue to $3B, signaling continued confidence in NFLX's pricing power.
Anthropic Blocks Government Ban, Eyes October IPO
Anthropic secured a preliminary injunction halting a Trump administration plan to cut government ties with the company, with U.S. District Judge Rita F. Lin calling the move "classic illegal First Amendment retaliation." The Defense Department had designated Anthropic a supply chain threat after it sought restrictions on its technology being used for mass surveillance or autonomous weapons. Separately, the company is weighing an IPO as soon as October that could raise more than $60B, at a current valuation of $380B.
GameStop Eyes Major Acquisition, Best Buy Shares Surge
Best Buy (BBY) is up more than +4% in premarket trading amid speculation it may be a takeover target for GameStop (GME), whose CEO Ryan Cohen has signaled plans for a "very, very, very big" acquisition of a larger consumer company. GME's latest 10-K revealed it pledged approximately $0.7B in cash as collateral for derivative transactions, suggesting a position may already be in place.
