Premarket movers Mag 7 stocks are all higher (Alphabet +1.3%, Meta +1%, Amazon +1%, Nvidia +0.6%, Microsoft +0.6%, Tesla +0.7%, Apple +0.4%) Rocket, satellite and space-linked companies gain after Elon Musk’s SpaceX raised $75 billion in its initial public offering. Movers include EchoStar +5% and Rocket Lab (RKLB) +4%. Adobe (ADBE) falls 6% after the company said its chief financial officer, Dan Durn, would depart, leaving the company without a top tier of veteran leadership after Chief Executive Officer Shantanu Narayen announced he would step aside. Advanced Micro Devices (AMD) gains 2% as Citi upgraded the chipmaker to buy, seeing the company as a key beneficiary of AI. Marvell Technology (MRVL) slips 1% after appointing Adobe’s Dan Durn as chief financial officer, succeeding Willem Meintjes. Travelers Cos. (TRV) slips 2% after Barclays cut its the recommendation on the property and casualty insurance company to underweight, saying that profit upside in the sector is getting more difficult to find.(zerohedge)