U.S. stock futures are slightly higher in premarket trading and are extending yesterday’s gains. The moves come after stocks snapped a two-session losing streak. Tech stocks were among the market’s biggest winners in yesterday’s session after Taiwan Semiconductor (TSM) gave blowout fourth-quarter results, which supported the sector. Taiwan Semi jumped more than 4%, while Nvidia (NVDA) and Advanced Micro Devices (AMD) gained about 2% each.

Bank stocks also rebounded yesterday after Goldman Sachs (GS) and Morgan Stanley (MS) posted solid fourth-quarter results. Goldman shares gained more than 4%, while Morgan Stanley added nearly 6%.

The three major indices are now nearly flat on the week while the small-cap Russell 2000 (RUT) settled at a record high on Thursday. Investor focus today will be on headline geopolitical risks, data and earnings fallout. Markets are closed on Monday for observance of Martin Luther King Day. 

• Oil (/CL) – Oil prices are up over 1% near $59.70 a barrel as market participants weighed concerns about supply risks, though the chances of a U.S. strike on ⁠Iran have receded. Crude fell nearly 5% on Thursday after Trump said ⁠Tehran’s crackdown on the protesters was easing, allaying worries about possible military action that could disrupt oil supplies.

• Gold (/GC) – Gold is down 0.6% near $4,595 after stronger-than-expected U.S. economic data dampened expectations of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal.

• Bitcoin (/BTC) – The Crypto Future is up 0.3% near 95,600 in premarket trading.

• VIX – The CBOE Volatility Index was down 5.4% on Thursday and settled at 15.84 as stocks were higher.

• U.S. Dollar (/DX) – The U.S. Dollar Index is relatively flat on the session at 99.244.

• JPMorgan upgrades Honeywell (HON) to Overweight from Neutral

• Susquehanna upgrades Seagate (STX) to Neutral from Negative

• Morgan Stanley upgrades Rocket Lab (RKLB) to Overweight from Equal Weight

• JPMorgan downgrades 3M (MMM) to Neutral from Overweight

• BofA downgrades ConocoPhillips (COP) to Underperform from Neutral

• Barclays downgrades HP Inc (HP) to Underweight from Equal Weight

Tune in live from 8 a.m. to 5 p.m. ET, or anytime, anywhere, on‑demand.

Or stream it via thinkorswim® and thinkorswim Mobile, available through our broker-dealer affiliate, Charles Schwab & Co., Inc

Please do not reply to this email. Replies are not delivered to Schwab Network. For inquiries or comments, please email [email protected].

See how your information is protected with our privacy statement.  

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.