CRWD, MRVL Earnings Ahead, Bitcoin Bounces

U.S. stock futures are slightly higher in premarket trading after a weak start to December on Monday.

Stocks snapped a five-session win streak yesterday with rising yields and a steep decline in Bitcoin (/BTC) creating headwinds.

Despite the pullback, sentiment is improving and consumer data on Black Friday and Cyber Monday show gains from year ago levels. According to Adobe Analytics (ADBE), Cyber Monday sales grew 4.5% versus last year from Midnight to 6:30 PM ET yesterday.

With no economic data due today, investors will focus on the consumer and upcoming earnings from CrowdStrike (CRWD) and Marvell (MRVL) after the closing bell.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil prices are down 0.2% near $59 a barrel as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites, mounting U.S.-Venezuela tensions and mixed expectations for U.S. fuel inventories.

  • Gold (/GC) Gold is down 0.9% near $4235, after it touched a six-week high in the previous session, as rising U.S. Treasury yields and profit-taking weighed on sentiment ahead of U.S. economic data likely to guide the Federal Reserve’s policy path.

  • Bitcoin (/BTC)The Crypto Future is rebounding and is up over 2% near 87,700 in premarket trading.

  • VIX The CBOE Volatility Index rose 5.3% on Monday and settled at 17.22 as stocks fell.

  • U.S. Dollar (/DX) – The dollar is basically flat at 99.4.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

TER

Teradyne

+2.38%

DDOG

Datadog

+2.31%

SNPS

Synopsys

+1.69%

CRL

Charles River Lab

-1.19%

NEM

Newmont

-0.90%

DASH

DoorDash

-0.77%

Economic Data

Time

Event

10:00 AM ET

Fed’s Bowman Speaks

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

BNS, SIG, UNFI

AEO, ASAN, BOX, CRWD, GTLB, MRVL, OKTA, PSTG

DLTR, M, RY, THO, UEC

AI, FIVE, GWRE, NCNO, PVH, CRM, SNOW, PATH

Upgrades/Downgrades

  • KeyBanc upgrades T-Mobile U.S. (TMUS) to Sector Weight from Underweight

  • Baird upgrades Albemarle (ALB) to Neutral from Underperform

  • Stifel upgrades Teradyne (TER) to Buy from Hold

  • BofA downgrades PagerDuty (PD) to Underperform from No Rating

  • Goldman Sachs downgrades Symbiotic (SYM) to Sell from Neutral

  • Morgan Stanley downgrades Inspire Medical (INSP) to Equal Weight from Overweight

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