Energy Stocks Gain/ Airlines Fall Premarket

General Motors stock fell 2.4% in premarket trade by 8:20 AM  as its workers went on strike in their first nationwide walkout since 2007.

• Energy stocks got a boost after attacks on Saudi Arabia’s oil fields caused a surge in oil prices. Exxon Mobil  gained 4.0%, Chevron  rose 3.3% and Continental Resources  rose 12.9%.

•American Airlines fell 5.2% and United Airlines  fell 3.7% while Delta Air Linesfell 3.4% on the prospect of higher fuel costs in the wake of the attacks on Saudi Arabia.

• Apple  stock inched down 0.4% after Walt Disney  CEO Bob Iger resigned from Apple’s board of directors, pre-empting a possible conflict of interest as the two companies prepare to launch competing video streaming services. A sharp decline in Chinese mobile phone sales in August also weighed on Apple’s stock.

• Aurora Cannabis stock slumped 5.2% after it was downgraded to ‘sell ‘ from ‘hold’ at Stifel Nicolaus, citing the sector’s fall from grace with investors and the company’s own near-term outlook./investing

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