U.S. stock futures are moving higher in premarket trading following a volatile session, as traders digested the latest developments in the U.S.-China trade war and awaited new earnings reports from major companies.

Tuesday’s session was choppy with the major indices down over 1% at their lows before staging a rebound to finish mixed. Investor focus will be on earnings from ASML (ASML), Bank of America (BAC) and Morgan Stanley (MS) this morning along with Fedspeak.

• Oil (/CL) – Oil prices are slightly higher near $58.70 a barrel as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the U.S. and China, the world’s two biggest economies. Crude is down nearly 6% this month and is near 5-month lows.

• Gold (/GC) – Gold Futures are up 1.2% near $4210 and notched a fresh record high overnight, lifted by expectations of a rate cut this month by the U.S. Federal Reserve and a flight to safety after a flare-up in trade tensions between Washington and Beijing. A weakening Dollar is also lending support to Gold. Silver Futures (/SI) are also up over 1.5% at $51.50 and are just below yesterday’s record high.

• Bitcoin (/BTC) – The Crypto Future is down over 0.5% near 112,400 in premarket trading. Bitcoin is down 11% from last week’s all-time high.

• VIX – The CBOE Volatility Index was up 9% on Tuesday and settled at 20.81 as stocks finished the volatile session mixed. The VIX is down 6% ahead of the Wall Street open as stocks are higher.

• U.S. Dollar (/DX) – The dollar is 0.2% lower to 98.6.

• HSBC upgrades Nvidia (NVDA) to Buy from Hold

• Citi upgrades Logitech (LOGI) to Buy from Neutral

• BMO Capital upgrades Sunrun (RUN) to Market Perform from Underperform

• Rothschild & Co. Redburn downgrades GE Vernova (GEV) to Sell from Neutral

• JPMorgan downgrades Fortive (FTV) to Neutral from Overweight

• JPMorgan downgrades Roper Technologies (ROP) to Underweight from Neutral

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