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FOMC Minutes, AI Rollout Worries
Tom White
October 08, 2025
U.S. stock futures are slightly higher in premarket trading after the S&P 500 snapped a seven-day win streak on Tuesday as the government shutdown entered in second week with little progress out of Washington.
The moves came after The Information reported Oracle’s (ORCL) margins from its cloud business are weaker than analysts are currently forecasting, and that the enterprise software company is losing money on some of its deals to rent out Nvidia’s chips.
Investor focus will be on more Fedspeak today along with the FOMC minutes this afternoon. Earnings ramp up tomorrow morning with results due from Delta Airlines (DAL) and Pepsico (PEP) in a look at consumer spending.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up nearly 1.5% near $62.50 a barrel as investors weighed a smaller-than-expected increase to OPEC+ output in November against signs of a potential supply glut.
Gold (/GC) – Gold prices are up 1.3% near $4060 and hit another all-time high as investors seek a safe haven from a weaker dollar, geopolitical volatility, economic uncertainty and stubborn inflation.
Bitcoin (/BTC) – The Crypto Future is up over 1% near 124,000 in premarket trading after hitting all-time highs on Monday.
VIX – The CBOE Volatility Index was up 5.3% on Tuesday and settled at 17.24 as stocks fell off of record highs.
U.S. Dollar (/DX) – The dollar is up 0.3% to 98.5.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
EFX | Equifax | +2.59% |
FCX | Freeport McMoRan | +1.79% |
NEM | Newmont | +1.67% |
FICO | Fair Isaac | -3.17% |
FDX | FedEx | -1.70% |
EW | Edwards Lifesciences | -1.59% |
Economic Data
Time | Event |
|---|---|
7:00AM ET | MBA Mortgage Applications |
9:20AM ET | Fed’s Musalem Speaks |
9:30AM ET | Fed’s Barr Speaks |
10:30AM ET | Oil Inventories |
1:00PM ET | 10-Year Note Auction |
2:00PM ET | FOMC Minutes |
3:15PM ET | Fed’s Kashkari Speaks |
4:30PM ET | Fed’s Kashkari Speaks |
5:45PM ET | Fed’s Barr Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
None | AZZ | DAL, HELE, PEP, TLRY | APOG, LEVI |
Upgrades/Downgrades
DBS Bank upgrades AMD (AMD) to Buy from Hold
Deutsche Bank upgrades Northrup Grumman (NOC) to Buy from Hold
Citi upgrades Freeport-McMoRan (FCX) to Buy from Neutral
HSBC downgrades Intel (INTC) to Reduce from Hold
JPMorgan downgrades FedEx (FDX) to Neutral from Overweight
Citi downgrades C.H. Robinson (CHRW) to Neutral from Buy
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