SanDisk Corporation (NASDAQ:SNDK) stock surged on Monday as easing geopolitical tensions, lower oil prices, and stronger U.S. stock futures helped lift risk appetite across growth and technology stocks.
Geopolitical Relief Supports Risk Appetite
The flash memory and storage company’s stock gained almost 6% in premarket trading. Headlines pointed to a framework agreement to end the U.S.-Iran conflict and reopen the Strait of Hormuz. WTI crude fell 4.61% to $80.97, while Brent dropped 3.92% to $83.91.
At the same time, Dow futures rose 380 points, or 0.74%, S&P 500 futures gained 0.97%, and Nasdaq 100 futures advanced 1.62%.
The stronger tape helped support growth and technology stocks, including semiconductor and storage names.
