U.S. stock futures are lower in premarket trading after the Department of Justice opened a criminal investigation into Federal Reserve Chair Jerome Powell.

The moves come after the S&P 500 (SPX), Dow Index ($DJI) and Russell 2000 (RUT) settled at record highs last Friday.

Powell confirmed in an unusual direct video statement Sunday evening that federal prosecutors have opened a criminal investigation related to his Senate Banking Committee testimony on the renovation of Fed office buildings.

President Trump’s call to cap credit card rates for one year at 10% was also causing some market headwinds to start the week. Besides headline risks, investor focus will turn to corporate reports with the kick-off to earnings season starting tomorrow.

• Oil (/CL) – Oil prices are down -0.3% near $59.00 a barrel after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply ‍from the OPEC producer, while investors ‍also weighed efforts to resume ‍oil exports from Venezuela.

• Gold (/GC) – Gold ⁠prices are up 2.3% near $4,600 and hit another all-time high overnight, while silver ‍also set a new record, ‍as a criminal ‍probe by the Trump administration into Federal Reserve Chair Jerome Powell sent investors scuttling back into the safe haven.

• Bitcoin (/BTC) – The Crypto Future is up 0.5% near 90,700 in premarket trading.

• VIX – The CBOE Volatility Index was down 6.2% on Friday and settled at 14.49 as stocks were higher. The VIX is up over 10% above 16 in the premarket as stocks are lower.

• U.S. Dollar (/DX) – The U.S. Dollar is down around -0.4% to 98.5.

• Susquehanna upgrades Applied Materials (AMAT) to Positive from Neutral

• B. Riley upgrades Airbnb (ABNB) to Buy from Neutral

• Morgan Stanley upgrades Datadog (DDOG) to Overweight from Equal Weight

• Keybanc downgrades CrowdStrike (CRWD) to Sector Weight from Overweight

• Barclays downgrades Snowflake (SNOW) to Equal Weight from Overweight

• Barclays downgrades GitLab (GTLB) to Underweight from Equal Weight

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