U.S. Stock Futures are modestly lower in the premarket after stocks fell sharply last week. The moves come after a relief rally on Friday with the S&P 500 having its best day of the year. Treasury Secretary Scott Bessent over the weekend dismissed recent declines as healthy, reinforcing the view that the Trump administration is unlikely to step in to boost markets. Investor focus turns to the FOMC announcement on Wednesday afternoon with markets expecting the Fed to hold steady on interest rates. Traders will watch Retail Sales data today after consumer sentiment continued its fall on Friday.

• Oil (/CL) – Oil prices are over 1% higher near $68 a barrel after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, and Chinese economic data fueled hopes for higher demand.

• Gold (/GC) – Gold is flat near $3005 after touching an all-time high on Friday

• Bitcoin (/BTC) – The cryptocurrency is down around 1% in the premarket.

• VIX – The CBOE Volatility Index is up premarket around 22.

• U.S. Dollar (/DX) – The dollar is flat around 103.

• MoffettNathanson upgrades Netflix (NFLX) to Buy from Neutral

• JPMorgan upgrades Norwegian Cruise (NCLH) to Overweight from Neutral

• Baird upgrades Accenture (ACN) to Outperform from Neutral

• Macquarie downgrades Li Auto (LI) to Neutral from Outperform

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