Premarket movers: Mag 7 are mostly higher as Nvidia outperforms and chip stocks look set to rebound: Nvidia (NVDA) +1.4%, Amazon (AMZN) +1.2%, Alphabet (GOOGL) +0.6%, Meta Platforms (META) +0.2%, Microsoft (MSFT) +0.2%, Tesla (TSLA) -0.1%, Apple (AAPL) -0.1% Semiconductor stocks gain, setting the chip benchmark up to snap its longest losing streak in 18 years. Shares in neoclouds and optical firms are also rising amid a broad-based rally in AI-related firms. Cleveland-Cliffs (CLF) rises 13% after the steel producer reported adjusted Ebitda for the third quarter that beat the average analyst estimate. CoreWeave (CRWV) shares are up 6.5% as Goldman Sachs upgrades the cloud-computing provider to buy from neutral Disc Medicine (IRON) soars 63% after announcing that its investigational drug bitopertin met all primary and secondary endpoints in the Phase 3 Apollo trial in adults and adolescents with erythropoietic protoporphyria. Intel (INTC) rises 3% as JPMorgan upgrades its rating to neutral, noting that the chipmaker’s turnaround might take years, but the management’s execution has been solid. Silgan (SLGN) gains 5% after the food packaging company and funds affiliated with American Industrial Partners announced a deal to buy Trivium Packaging in an all-cash deal.