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HD Earnings, AMZN & MSFT Downgrades
Tom White
November 18, 2025
U.S. stock futures are modestly lower ahead of the Wall Street open and are extending yesterdays’ broad-based losses.
The moves come after weakness ahead of Nvidia’s (NVDA) earnings tomorrow after the close, with the chipmaker falling 1.8% yesterday.
Home Depot (HD) shares are also pressuring markets and are down 3% after a mixed earnings report. Focus will continue to be on earnings along with weakness in Bitcoin (/BTC) and Gold (/GC) among other asset classes.
Expectations of a rate cut in December are continuing to fall with only a 44% chance according to the CME Fedwatch tool.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are flat near $60 a barrel as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack.
Gold (/GC) – Gold prices are down 1% near $4040 after falling more than 1% on Monday, pressured by a firming Dollar and reduced expectations of a U.S. interest rate cut next month, as investors awaited delayed economic data this week that could offer clues on the Federal Reserve’s policy path.
Bitcoin (/BTC) – The Crypto Future is down 0.5% near 91,500 in premarket trading and hit nearly 7-month lows overnight below 90K before rebounding.
VIX – The CBOE Volatility Index jumped 12.9% on Monday and settled at 22.38 as stocks sold off.
U.S. Dollar (/DX) – The dollar is flat around 99.5.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
MDT | Medtronic | +3.92% |
MRK | Merck | +3.81% |
MOH | Molina Healthcare | +2.71% |
HD | Home Depot | -3.40% |
PLTR | Palantir | -2.38% |
LOW | Lowe’s | -2.31% |
Economic Data
Time | Event |
|---|---|
8:30 AM ET | Import & Export Prices |
9:15 AM ET | Industrial Production |
10:00 AM ET | Housing Market Index Factory Orders - Delayed E-Commerce Retail Sales |
10:30 AM ET | Fed’s Barr Speaks |
4:00 PM ET | Treasury Intl. Capital |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
ACM, AS, BIDU, ENR, FUTU, HD, IQ, JHX, BZ, KLAR, MDT, PDD, WB | SQM, LZB, QFIN | DY, GDS, KC, LOW, TGT, TJX, VIK, WSM, WIX | BV, BLSH, JACK, NVDA, PANW, ZTO |
Upgrades/Downgrades
Loop Capital upgrades Alphabet (GOOGL) to Buy from Hold
Stifel upgrades Deckers Outdoor (DECK) to Buy from Hold
Arete upgrades Snap (SNAP) to Neutral from Sell
Rothschild & Co. Redburn downgrades Amazon (AMZN) to Neutral from Buy
Rothschild & Co. Redburn downgrades Microsoft (MSFT) to Neutral from Buy
BofA double downgrades Honeywell (HON) to Underperform from Buy
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