U.S. stock futures are modestly higher ahead of the Wall Street open and are extending yesterday’s gains. The moves come ahead of major earnings from about 20% of the S&P 500 companies and a Fed rate decision on Wednesday.

Shares of several big-name health insurers, including United Healthcare (UNH), CVS (CVS) and Humana (HUM) plunged after the Centers for Medicare & Medicaid Services proposed raising payments to Medicare Advantage insurers by a net average of just 0.09% in 2027, which was far below estimates.

Trade headlines are also increasing after President Trump said that he would raise tariffs on South Korean autos, pharmaceuticals, and lumber from 15% to 25% due to a delay in South Korea’s legislature approving a trade deal the nation had reached with the U.S. last summer.

This comes as India and the EU signed a historic trade deal that would gradually decrease tariffs to zero on a majority of their exports.

• Oil (/CL) – Oil prices are down 0.2% near $60.60 a barrel as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast. In the U.S., oil producers lost up to 2 million barrels per day or roughly 15% of national production over the weekend, analysts and traders estimated, as a winter storm swept across the country, straining energy infrastructure and power grids.

• Gold (/GC) – Gold Futures are flat near $5080 after hitting record highs above $5,100 for the first time in the previous session, as safe-haven demand lingered amid geopolitical uncertainty, while silver also hovered near all-time highs.

• Bitcoin (/BTC) – The Crypto Future is up 0.4% under 88,000 in premarket trading.

• VIX – The CBOE Volatility Index was up 0.4% on Monday and settled at 16.15 as stocks were higher.

• U.S. Dollar (/DX) – The dollar is 0.4% lower to 96.5.

• Deutsche Bank upgrades CoreWeave (CRWV) to Buy from Hold

• Wolfe Research upgrades Target (TGT) to Peer Perform from Underperform

• Needham upgrades Affirm (AFRM) to Buy from Hold

• Arete downgrades Mobileye (MBLY) to Neutral from Buy

• TD Cowen downgrades Procter & Gamble (PG) to Hold from Buy

• Morgan Stanley downgrades Alcoa (AA) to Equal Weight from Overweight

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