DAL, PEP Reports Preview Earnings Season

U.S. stock futures are relatively flat in premarket trading after the benchmark S&P 500 and Nasdaq-100 index rose to all-time highs in the previous session. Investors will monitor morning remarks from Federal Reserve Chair Jerome Powell at a community bank conference, as well as speeches from other Fed officials.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil prices are down 0.4% near $62.30 a barrel after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza, weighing on oil’s war risk premium and pushing investors to sell.

  • Gold (/GC) Gold prices are down 0.3% but held above the $4,000 level on Thursday, as investors assessed the Israel-Hamas ceasefire deal, while broader geopolitical and economic uncertainty alongside expectations for U.S. rate cuts sustained bullish sentiment for the metal.

  • Bitcoin (/BTC)The Crypto Future is down 0.5% near 123,000 in premarket trading after hitting all-time highs on Monday.

  • VIX The CBOE Volatility Index was down 5.5% on Wednesday and settled at 16.27 as stocks rallied to record highs.

  • U.S. Dollar (/DX) – The dollar is flat at 98.7.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

DAL

Delta Airlines

+6.18%

UAL

United Airlines

+5.06%

ALB

Albemarle

+3.06%

TSLA

Tesla

-1.13%

PHM

PulteGroup

-1.10%

MU

Micron

-0.81%

Economic Data

Time

Event

8:30AM ET

Fed’s Powell Speaks

8:35AM ET

Fed’s Bowman Speaks

10:30AM ET

Natural Gas Inventories

12:45PM ET

Fed’s Barr Speaks

1:00PM ET

30-Year Bond Auction

3:45PM ET

Fed’s Bowman Speaks

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

DAL, HELE, PEP, TLRY

APOG, LEVI

None

None

Upgrades/Downgrades

  • Berenberg upgrades DraftKings (DKNG) to Buy from Hold

  • MoffettNathanson upgrades Roblox (RBLX) to Neutral from Sell

  • Piper Sandler upgrades PNC Financial (PNC) to Overweight from Neutral

  • HSBC downgrades Bloom Energy (BE) to Hold from Buy

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